Eastern Virginia Bankshares (EVBS: Quote), Friday, reported a profit for the second quarter, compared to a loss posted in the same quarter last year. The Tappahannock, Virginia-based company reported a second-quarter net profit available to common shareholders of $473 thousand or $0.08 per share, compared to a net loss of $151 thousand or $0.03 per share last year.
Net operating income for the quarter rose to $848 thousand from $223 thousand in the prior year period.
Net interest income for the quarter dropped 8.5% to $8.3 million from $9.1 million in the prior-year quarter. This decrease was due to a 32 basis point decrease in the net interest margin from 3.67%in the second quarter of 2011, to 3.35% in the second quarter of 2012.
For the quarter, total non-interest income was $2.2 million, up 31.4% from $1.7 million in the comparable quarter last year.
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by RTT Staff Writer
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