Clarkston Financial Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total interest income was $1,802,000 compared with $1,667,000 for the same period last year. Net interest income was $1,666,000 compared with $1,551,000 for the same period last year. Income before income taxes was $560,000 against $332,000 a year ago. Net income was $369,000 compared with $195,000 for the same period last year. Earnings per share - basic & diluted were $0.11 against $0.06 a year ago. Book value per share at March 31, 2017 was $4.80 compared with $4.33 at March 31, 2016. Return on average assets was 0.79% compared with 0.46% for the same period last year. Return on average equity was 7.56% compared with 5.64% for the same period last year.

For the second quarter of 2017, the company expects operating performance to be even better. The company is working to increase yield on loan portfolio as interest rates rise in an effort to maintain the excellent net interest margin which was 4.07% for the first quarter.

The company reported net loan charge-offs of $4,000 for the quarter of 2017 compared to $16,000 a year ago.