- Last Updated on 08:08 AM 01/30/13
- BY The Gazette-Virginian
American National Bankshares Inc., parent company of American National Bank and Trust Company, Friday announced fourth quarter 2012 net income available to common shareholders of $3,918,000 compared to $4,600,000 for the fourth quarter of 2011, a $682,000 or 14.8 percent decrease.
Diluted earnings per share were $0.50 for the 2012 quarter compared to $0.59 for the 2011 quarter.
This quarterly net income produced for 2012 a return on average assets of 1.21 percent, a return on average equity of 9.59 percent, and a return on average tangible equity of 14.12 percent.
Net income available to common shareholders for 2012 was $16,006,000 compared to $11,468,000 for 2011, a $4,538,000 or 39.6 percent increase. Basic and diluted earnings per share were $2.04 for 2012 compared to $1.64 for 2011.
Earnings for all of 2012 and for the second half of 2011 were favorably impacted by the July 2011 merger between American National and MidCarolina Financial Corporation (“MidCarolina”).