Tristate Capital Holdings, Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Reports Net Charge-Offs for the Fourth Quarter of 2013
For the year, the company reported interest income of $72,851,000 compared with $71,034,000 for the same period a year ago. Net interest income was $61,784,000 compared with $57,360,000 for the same period a year ago. Income before tax was $18,580,000 compared with $17,509,000 for the same period a year ago. Net income available to common shareholders was $12,867,000 or $0.48 per diluted share compared with $9,147,000 or $0.47 per diluted share for the same period a year ago. Return on average assets was 0.59% compared with 0.55% for the same period a year ago. Return on average equity was 4.84% compared with 5.24% for the same period a year ago. Book value per common share at December 31, 2013 was $10.25 compared with $9.84 at December 31, 2012. Book value per share with preferred converted to common at December 31, 2013 was $10.25 compared with $9.75 at December 31, 2012. Tangible book value per share with preferred converted to common at December 31, 2013 was $10.25 compared with $9.75 at December 31, 2012.
For the quarter, the company recorded net charge-offs of $242,000.