Bank of McKenney reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net interest income of $2,163,708 compared to $2,119,293 a year ago. Net interest income after provision for loan losses was $2,088,708 compared to $1,629,293 a year ago. Net income before taxes was $538,481 compared to $505,805 a year ago. Net income was $370,337 or $0.20 per basic and diluted share compared to $383,935 or $0.20 per basic and diluted share a year ago. Return on average equity on an annualized basis during the first quarter of 2013 was 7.00% as compared to 7.57% for the first quarter of 2012. Return on average assets during the first quarter of 2013, on an annualized basis, decreased 6 basis points to 0.69% from the prior year level of 0.75%. The company is currently ahead of budget on both growth and earnings and remains optimistic about 2013.

Bank of McKenney announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported net earnings of $499,159 representing a 41.76% increase over the 2011 fourth quarter earnings of $352,379. Basic and diluted common share was $0.26 as compared to $0.18 recorded during the 2011 fourth quarter. Interest and dividend income was $2,594,904 compared to $2,597,878 for the same period a year ago. Net interest income was $2,223,254 compared to $2,136,333 for the same period a year ago. Net interest income after provision for loan losses was $2,049,546 compared to $1,729,686 for the same period a year ago. Net income before taxes was $701,209 compared to $510,731 for the same period a year ago. Income available to common shareholders was $490,342 compared to $343,511 for the same period a year ago. For the nine months, the company reported net income of $1,208,139 compared to net income of $1,396,842 for the same period in the prior year. Basic and diluted earnings per common share were $0.63 compared to the prior year earnings per share of $0.73 per common share. Annual net earnings declined $188,000 or 13.47%, and this is primarily attributable to efforts during the second and third quarters to reduce nonperforming loans and rid the balance sheet of problematic credits. Return on average equity for the period ended December 31, 2012 was 5.75% compared to 6.89% in 2011. Return on average assets for the period ended December 31, 2012 was 0.58% compared to 0.70% in 2011. Interest and dividend income was $10,223,979 compared to $10,060,742 for the same period a year ago. Net interest income was $8,625,293 compared to $8,093,582 for the same period a year ago. Net interest income after provision for loan losses was $7,199,585 compared to $7,268,935 for the same period a year ago. Net income before taxes was $1,550,211 compared to $1,943,012 for the same period a year ago. Income available to common shareholders was $1,199,322 compared to $1,386,974 for the same period a year ago.

Bank of McKenney announced that the Board of Directors declared a dividend of $0.27 per share on common and preferred classes of stock for shareholders of record at the close of normal trading on December 28, 2012 and payable on January 18, 2013. The $0.27 per share dividend matches that paid in January of 2012.