Open Bank reported unaudited earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported interest income of $6,811,000, net interest income of $5,962,000, income before income taxes of $2,686,000, net income of $1,582,000 or $0.12 per diluted share, return on average assets of 1.02% and return on average equity of 8.84% compared to the interest income of $5,134,000, net interest income of $4,730,000, income before income taxes of $1,694,000, net income of $984,000 or $0.08 per diluted share, return on average assets of 0.85% and return on average equity of 6.07% for the same quarter a year ago.

For the year, the company reported interest income of $25,192,000, net interest income of $22,503,000, income before income taxes of $10,178,000, net income of $5,990,000 or $0.46 per diluted share, return on average assets of 1.06% and return on average equity of 5.67% compared to the interest income of $18,260,000, net interest income of $16,721,000, income before income taxes of $7,619,000, net income of $4,484,000 or $0.42 per diluted share, return on average assets of 1.09% and return on average equity of 9.09% for the same period a year ago. Book Value per share was $5.72 as on December 31, 2015 against was $5.27 as on December 31, 2014.

For the quarter, the company reported net charge offs of $3,000 against $467,000 a year ago.