- Net income for the quarter increased $0.9 million, or 176.4%, to $1.3 million, or $0.33 per diluted share compared with $0.5 million, or $0.12 per diluted share in 2010.
- Record results achieved in 2011 with net income of $6.1 million, or $1.49 per diluted share
- Return on average equity improved to 9.17% in 2011 compared with 8.35% in 2010
- Core loans (defined as total loans and leases less direct financing leases) increased 3.0% in the fourth quarter of 2011, or 11.8% annualized, to $577.4 million
- Core deposits grew in the fourth quarter with Demand, NOW, and Savings deposits gaining 3.4%, or an annualized growth rate of 13.7%
- Capital position remains strong with Total Risk-Based Capital ratio of 14.03% at December 31, 2011
Evans Bancorp Reports 176% Increase In Net Income For The Fourth Quarter Of 2011 And Record Results For The Year
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