Emclaire Financial Corp (EMCF: Quote), the parent holding company of The Farmers National Bank of Emlenton, reported second-quarter net income available to stockholders of $1.1 million or $0.65 per share, up from $0.8 million or $0.43 per share in the comparable quarter last year.
The company mainly attributed the improvement of the quarterly earnings to the increase in net interest income and gains from the sale of securities, along with a decrease in noninterest expense.
Net interest income for the latest quarter rose 5.2 percent to $3.9 million from $3.7 million a year ago, while noninterest income rose to $1.4 million from $1.2 million last year.
Net interest margin for the quarter decreased to 3.26 percent from 3.34 percent last year. Provision for loan losses decreased to 115,000 from $120,000 in the year-ago quarter.
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by RTT Staff Writer
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