- Net income from core operations (“operating earnings”), which is a non-GAAP measure of net income excluding net securities gains and losses and bank owned life insurance gains on death benefit, increased to $3,286,000 and $6,477,000 for the three and six months ended June 30, 2012 compared to $2,958,000 and $5,729,000 for the same period of 2011.
- Operating earnings per share for the three and six months ended June 30, 2012 were $0.86 and $1.69 basic and dilutive compared to $0.77 and $1.49 basic and dilutive for the same period of 2011, an increase of 11.7% and 13.4%.
- Return on average assets was 1.67% and 1.78% for the three and six months ended June 30, 2012 compared to 1.64% for the three and six month periods of 2011.
- Return on average equity was 15.48% and 16.42% for the three and six months ended June 30, 2012 compared to 16.29% and 16.45% for the corresponding period of 2011.
Penns Woods Bancorp, Inc. Reports Second Quarter 2012 Operating Earnings
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