- Net income of $1.0 million or $0.12 per diluted share compared with net income of $1.2 million or $0.15 per diluted share for the first quarter of 2011;
- Excluding special items for each quarter, net income was $1.2 million or $0.15 per diluted share for 2012 versus a net loss of $3,000 or $0.00 per diluted share for 2011 (see reconciliation of non-GAAP items);
- Organic loan growth, excluding loans acquired in FDIC-assisted acquisitions, of $44.2 million or 11% from 2011;
- Loans acquired through FDIC-assisted acquisitions increased $22.3 million or 25% from the first quarter of 2011;
- A decrease in provision for loan losses of $200,000 for the first quarter of 2012 compared with the same quarter for 2011;
- A significant decrease in annualized net charge-offs to 0.24% for the first quarter of 2012 from 2.80% for the first quarter of 2011; and
- A slight decline in nonperforming assets (NPAs) to total assets, excluding assets acquired in FDIC-assisted acquisitions, to 1.27% for 2012 from 1.29% for 2011.
Heritage Financial Group, Inc. Reports First Quarter Net Income Of $1.0 Million Or $0.12 Per Diluted Share
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