Total interest income was $14.5 million for fourth quarter of 2007, an increase of 15% compared to $12.6 million for the corresponding period of 2006.
For the full-year period ended December 31, 2007, net income was $9.4 million, an increase of 11% compared to $8.5 million for the same period of 2006. Total interest income was $55.7 million for 2007, compared to $46.5 million in 2006.
Bart Hill, president, said: We are pleased with the company’s performance in 2007 which represents our 24th consecutive year of record profits. This performance resulted in a return on average equity of 18.76% and return on average assets of 1.21%.
