Shore Community Bank Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Reports Net Loan Charge-Offs for Fourth Quarter of 2016
For the year, the company's net income was $1,726,381 or $0.62 per diluted share compared to $1,301,410 or $0.47 per diluted share for the year ended December 31, 2015. Book value per share at December 31, 2016 was $9.52 compared to $9.09 at December 31, 2015.
Net loan charge-offs for the fourth quarter of 2016 totaled $25,159 compared to net charge-offs of $21,102 in the fourth quarter of 2015.