First Ottawa Bancshares Inc. reported unaudited earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported net income of $108,000 or $0.17 per basic and diluted common share compared to net income of $131,000 or $0.20 per basic and diluted common share for the three months ended March 31, 2011. Net income decreased $23,000, or 17.6%, from the first quarter of 2011. Net interest income before the provision for loan losses was $2.0 million and $2.2 million for the three months ended March 31, 2012 and 2011, respectively. Total interest income decreased $276,000 to $2.4 million compared to the same period in 2011. The decrease in total interest income for the three months ended March 31, 2012 reflected a decrease in interest income and fees from loans of $181,000 to $1.9 million, a decrease in tax exempt investment income of $25,000 to $88,000, a decrease in taxable security income of $33,000, to $185,000, and a decrease in income on interest-bearing deposits with financial institutions of $32,000 to $226,000, compared to the same period in 2011. Decreased interest income was a result of decreases in interest rates on investments, volume of tax exempt investments and average loans outstanding during the first quarter of 2012.