Harvard Illinois Bancorp, Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2015. The Company reported unaudited net income for the three months ended June 30, 2015 of $1.3 million, compared to net income of $173,000 for the three months ended June 30, 2014. Net income increased $1.1 million, or 654.3% during the second quarter of 2015, compared to the second quarter of 2014. The increase in net income was due to an increase in noninterest income of $16,000, and decreases in interest expense, the provision for loan losses and the provision for income taxes of $71,000, $1.3 million and $90,000, respectively, partially offset by a decrease in interest and dividend income of $186,000, and an increase in noninterest expense of $204,000. Net interest income was $1.2 million compared to $1.3 million a year ago. Income before income taxes was $1.3 million compared to $0.263 million a year ago. Return on average assets was 3.30% compared to 0.41% a year ago.

The Company reported unaudited net income for the six months ended June 30, 2015 of $1.4 million, compared to net income of $407,000 for the six months ended June 30, 2014. Net interest income was $2.4 million compared to $2.6 million a year ago. Income before income taxes was $1.4 million compared to $0.611 million a year ago. Return on average assets was 1.80% compared to 0.48% a year ago.