American National Bankshares Q4 net income $2.89 million
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Earnings for 2014 and 2013 were affected favorably by the merger in July 2011 between American National and MidCarolina Financial.
Net income for 2014 was $12.741 million, compared to $15.747 million for 2013, a 19.1 percent decrease. Diluted earnings per share were $1.62 for 2014, compared to $2 for 2013.
Earnings for 2014 and 2013 were affected favorably by the merger in July 2011 between American National and MidCarolina Financial Corp., the company says. However, that benefit is rapidly diminishing as loan-related accretion income declines period to period.
Total pretax impact of the MidCarolina merger for the 2014 quarter was $378,000, compared to $1.344 million for the 2013 quarter. Total pretax impact of the MidCarolina merger for 2014 was $1.744 million, compared to $6.265 million for 2013.
American National Bank has locations in Burlington at 3101 S. Church St., 2214 N. Church St., Alamance Regional Medical Center and the Village at Brookwood. It has locations also at 842 S. Main St., Graham, and 1008 Mebane Oaks Road, Mebane. ■