Tri-County Financial Corp. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company has posted interest and dividend of $10,195,299 against $10,088,665 a year ago. Net interest income was $7,919,136 against $6,736,869 a year ago. Net income was $1,470,568 against $493,712 a year ago. Net income available to common shareholders was $1,420,568 or $0.47 diluted per share against $442,601 or $0.15 diluted per share a year ago. The $977,967 increase was primarily attributable to increased net interest income and decreased noninterest expense partially offset by increased income tax expense and provision for loan losses. Return on average assets was 0.61% against 0.21% a year ago. Return on common average equity was 9.61% against 3.16% a year ago.

For the year, the company has posted interest and dividend of $40,292,881 against $39,959,394 a year ago. Net interest income was $29,688,643 against $26,838,352 a year ago. Net income was $4,989,914 against $3,161,464 a year ago. Net income available to common shareholders was $4,789,914 or 1.57 diluted per share against $2,488,976 or $0.82 diluted per share a year ago. The increase was primarily attributable to an increase in net interest income, as a result of the Bank's increased average asset size and decreased cost of funds, and noninterest income and a decrease in the provision for loan losses partially offset by increased income tax expense and noninterest expense, due to one-time conversion costs incurred during the first six months of the year in connection with a change of the Bank's data processing system. Return on average assets was 0.52% against 0.35% a year ago. Return on common average equity was 8.29% against 4.46% a year ago.