- Net income from core operations (“operating earnings”), which is a non-GAAP measure of net income excluding net securities gains and losses, increased to $3,079,000 and $11,952,000 for the three and twelve months ended December 31, 2011 compared to $2,854,000 and $10,815,000 for the same periods of 2010.
- Operating earnings per share for the three months ended December 31, 2011 were $0.80 basic and dilutive compared to $0.74 basic and dilutive for the same period of 2010 or an increase of 8.1%. Operating earnings per share for the twelve months ended December 31, 2011 increased 10.6% to $3.12 basic and dilutive compared to $2.82 basic and dilutive for the same period of 2010.
- Net interest margin was 4.78% for the three months ended December 31, 2011 compared to 4.66% for the corresponding period of 2010. For the twelve months ended December 31, 2011 the net interest margin was 4.70% compared to 4.57% for the twelve month 2010 period.
- Return on average equity was 17.00% for the three months ended December 31, 2011 compared to 15.56% for the corresponding period of 2010. Earnings for the twelve months ended December 31, 2011 correlate to a return on average equity of 16.60% compared to 15.30% for the twelve month 2010 period.
Penns Woods Bancorp, Inc. Reports Fourth Quarter 2011 Operating Earnings
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