Cardinal Bankshares Corporation Reports Results for the Quarter ended June 30, 2014
PR Newswire - Thu Jul 17, 5:49PM CDT
Cardinal Bankshares Corporation (OTC-QB: CDBK), parent company of Bank of Floyd, announced today its consolidated financial results for the second quarter of 2014 and reported net income of $983 thousand, or $0.64 per share versus a $(173) thousand net loss, or $(0.11) per share for the same quarter in 2013. The Company's net income for the three-month period produced an annualized return on average assets of 1.48% and an annualized return on average equity of 21.03% as compared to (0.25)% and (2.50)% for these measures in the same period last year. Net income for the six-month period ended June 30, 2014 amounted to $1.1 million compared to a net loss of $43 thousand in 2013.