Prime Meridian Holding Company Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
January 26, 2017 at 12:29 pm
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Prime Meridian Holding Company announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total interest income of $2,867,000 against $2,465,000 a year ago. Net interest income was $2,636,000 against $2,273,000 a year ago. Earnings before income taxes were $1,002,000 against $682,000 a year ago. Net earnings were $646,000 against $501,000 a year ago. Diluted earnings per share were $0.32 against $0.26 a year ago. Book value per share was $13.51 against $12.62 a year ago. Return on average assets was 0.87% against 0.81% a year ago. Return on average equity was 9.62% against 8.18% a year ago.
For the year, the company reported total interest income of $10,773,000 against $9,289,000 a year ago. Net interest income was $9,943,000 against $8,572,000 a year ago. Earnings before income taxes were $3,437,000 against $2,548,000 a year ago. Net earnings were $2,220,000 against $1,704,000 a year ago. Diluted earnings per share were $1.11 against $0.87 a year ago. Book value per share was $13.51 against $12.62 a year ago. Return on average assets was 0.81% against 0.74% a year ago. Return on average equity was 8.51% against 7.15% a year ago.
Prime Meridian Holding Company is a bank holding company for Prime Meridian Bank (the Bank). The Companyâs operation consists of owning the stock of the Bank. The Bank provides a range of consumer and commercial banking services to individuals and businesses. Its electronic banking services include mobile banking, remote deposit, mobile deposit, Apple Pay, Bank-to-Bank transfers and online banking. The Bank offers basic services that include demand interest-bearing and noninterest-bearing accounts, savings accounts, money-market deposit accounts, health savings accounts (HSA), negotiable order of withdrawal (NOW) accounts, time deposits, safe deposit services, wire transfers, foreign exchange services, escrow accounts, debit cards, direct deposits, notary services, night depository, official checks, domestic collections, bank drafts, automated teller services, drive-in tellers, banking by mail, credit cards through a third party, and merchant card services with a third party.