- Net income applicable to common stockholders was $129,000, or $0.04 per basic and diluted common share.
- Core deposits increased by 4.8% compared to year end 2011.
- Nonperforming loans declined to $946,000, or 1.32% of total loans at March 31, 2012, from $1,384,000 at year end 2011.
- The total allowance for loan losses as a percentage of total loans was 3.84% at March 31, 2012, compared to 3.58% at December 31, 2011.
- Total risk-based capital ratio was 25.80%, Tier 1 risk-based capital ratio was 24.52%, and Tier 1 leverage ratio was 17.31% at March 31, 2012.
Americas United Bank (OTCBB: AUNB) today reported net income of $129,000 in the first quarter of 2012 (1Q12), compared to a net loss of $1,194,000 in the first quarter a year ago (1Q11). “Strong operating results which included improved credit quality, improved cost controls, and deposit portfolio restructuring contributed to improved earnings for the first quarter compared to the first quarter a year ago,” stated Adriana M. Boeka, President and Chief Executive Officer. “Our changing deposit mix reflects continuing growth in customer relationships and determined efforts of our staff.” 1Q12 Financial Highlights