Farmers Bankshares Q2 earnings $1,064,194Staff Writer | July 27, 2018
Farmers Bankshares reported unaudited earnings of $1,064,194, or $0.35 per share for the second quarter of 2018, which is an increase of approximately 6.20% from the $1,002,112, or $0.33 per share, earned during the second quarter of 2017.
Farmers Bankshares Return on average assets on an annualized basis was 0.86%
Return on average assets on an annualized basis of 0.86% for the second quarter of 2018 decreased from the second quarter of 2017 of 1.10%.
Return on average equity during the second quarter of 2018 was 8.35% as compared to the prior year second quarter of 10.44%.
Richard J. Holland, Jr., Chairman and Chief Executive Officer, stated, "While first quarter earnings were negatively impacted by our technology advancements, second quarter earnings normalized and were more consistent with prior quarters.
"We expect the second half of 2018 to compare favorably to the first half and look forward to continuing to increase shareholder value through our strategic initiatives." ■