Entegra Financial Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Reports Net Charge-Offs for the Second Quarter of 2018
For the six months, the company reported interest income was $30,171,000 against $23,361,000 a year ago. Net interest income was $24,703,000 against $19,834,000 a year ago. Net interest income after provision for loan losses was $23,985,000 against $19,194,000 a year ago. Income before taxes was $8,137,000 against $4,739,000 a year ago. Net income was $6,669,000 against $3,402,000 a year ago. Diluted earnings per common share were $0.95 against $0.52 a year ago. Core net income (non-gaap) was $7,450,000 against $4,385,000 a year ago. Core diluted earnings per share (non-gaap) were $1.06 against $0.67 a year ago. Return on average assets (gaap) was 0.83% against 0.5% a year ago. Core return on average assets (non-gaap) was 0.93% against 0.65% a year ago. Return on average equity (gaap) was 8.76% against 4.99% a year ago. Core return on average tangible equity (non-gaap) was 11.99% against 6.81% a year ago. Book value per share was $22.46 as on June 30, 2018 compared to $22.00 as on December 31, 2018. Tangible book value per share was $18.42 as on June 30, 2018 compared to $17.90 as on December 31, 2018.
For the quarter, the company reported Net charge-offs of $92,000 against $315,000 a year ago.