Peoples Financial Corporation Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Announces Charge-Offs for the Fourth Quarter Ended December 31, 2013
For the year, the company reported a loss of $538,000 due primarily to actions on certain non-performing assets compared to net income of $2,641,000 for the same period last year. Loss per was $0.10 compared to earnings per share of $0.51 for the same period last year. Net interest income was $23,509,000 compared to $22,561,000 for the same period last year. Negative return on average assets was 0.07% compared positive return on average assets of 0.32% for the same period last year. Negative return on average equity was 0.51% compared positive return on average equity of 2.4% for the same period last year. Book value per share was $19.35 as on December 31, 2013 compared to $21.56 as on December 31, 2012.
For the quarter, the company reported charge-offs were $7,884,000 compared to $154,000 for the same period last year.