Middleburg Financial reports fiscal results.
Global Banking News-February 2, 2015--Middleburg Financial reports fiscal results
(C)2015 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 02 February 2015
Middleburg Financial Corporation (NASDAQ: MBRG) has announced net income of USD1.63m, or USD0.23 per diluted share, for the fourth quarter of 2014.
Net income was USD7.58m, or USD1.06 per diluted share, for the year ended December 31, 2014. Total revenue, which is comprised of net interest income (before provision for loan losses) and non-interest income, was USD11.67m for the fourth quarter of 2014, representing a decrease of 1.35 percent compared to the previous quarter, and a decrease of 22.30 percent compared to the fourth quarter of 2013. Total revenue for all of 2014 was USD52.87m, compared to total revenue for 2013 of USD62.24m, a decline of 15.05 percent on a year-over-year basis.
Total assets were USD1.22bn as of December 31, 2014, a decrease of 0.40 percent for the full year. Total deposits were USD989.12m as of December 31, 2014, an increase of 0.68 percent for the full year. Loans held-for-investment reached USD754.85m as of December 31, 2014, an increase of 3.62 percent for the full year.
[Editorial queries for this story should be sent to firstname.lastname@example.org]
((Distributed via M2 Communications - http://www.m2.com))