Security Bancorp, Inc. Announces Unaudited Consolidated Earnings for the First Quarter Ended March 31, 2017
Security Bancorp, Inc. announced unaudited consolidated earnings for the first quarter ended March 31, 2017. Net income for the three months ended March 31, 2017 was $385,000, or $1.00 per share, compared to $322,000, or $0.83 per share, for the same quarter last year. For the three months ended March 31, 2017, net interest income increased $137,000, or 9.6%, to $1.6 million from $1.4 million for the comparable period in 2016. Total interest income was $1.7 million compared to $1.6 million for the same period in the previous year. The increase of $114,000, or 7.0%, was primarily attributable an increase in interest income from loans. Income before income tax expense was $0.6 million against $0.5 million reported last year.