SaviBank Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Net Charge-Offs for the Fourth Quarter of 2017
For the year, net interest income was $8,163,000 against $6,414,000 a year ago. Income before tax was $2,283,000 against $1,175,000 a year ago. Net income was $27,000 against $5,729,000 a year ago. Earnings per share, basic and diluted were $0.0016 against $0.49 a year ago. Return on average equity was 0.10% against 37.79% a year ago. Return on average assets was 0.01% against 3.66% a year ago. Book value per share was $1.69 at December 31, 2017, compared to $1.72 a year ago.
For the fourth quarter of 2017, the company reported net charge-offs were $51,000 compared to $30,000 a year ago.