- Net income of $6.8 million or $0.85 per diluted share, up 77% from net income of $3.8 million or $0.47 per diluted share for the year ended 2011;
- Excluding special items for each year, net income was $5.4 million or $0.67 per diluted share for 2012 versus net income of $1.6 million or $0.19 per diluted share for 2011 (see reconciliation of non-GAAP items);
- Loan growth for the year, excluding loans acquired through FDIC-assisted acquisitions, of $151.3 million or 35% from 2011;
- A decrease in loans acquired through FDIC-assisted acquisitions for the year of $41.9 million or 33% from 2011;
- A decrease in provision for loan losses, excluding FDIC-acquired loans, of $395,000 to $2.5 million for the year compared with $2.9 million for 2011;
- Provision for loan losses of $3.4 million for FDIC-acquired loans with approximately 80% of the losses reimbursable by the FDIC versus no provision expense on such loans for 2011; and
- A decrease in net charge-offs to 0.19% for the year compared with 0.82% for 2011.
Heritage Financial Group, Inc. 2012 Net Income Up 77% Versus 2011, Increasing To $6.8 Million Or $0.85 Per Diluted Share
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