Benchmark reports first quarter earnings

Published 12:40 pm Tuesday, April 26, 2016

KENBRIDGE —  Benchmark Bankshares Inc. (BMBN), the Kenbridge-based hold-ing company for Benchmark Community Bank, has announced earnings of $1,600,401, or 31 cents per share, for the first quarter of 2016.

According to a bank news release, this compares to $1,535,335, or 30 cents per share, for the first quarter of last year. “Return on average equity for the quarter was 10.48 percent and return on average assets was 1.21 percent, compared to 10.92 percent and 1.27 percent, respectively, reported for the first quarter of 2015.”

According to the release, total loans as of March 31 amounted to $427.7 million, up $3.4 million for the quarter. “Although loan growth was low during the first quarter, loans have increased by $29.2 million, or 7.3 percent, over the past 12 months,” the release stated.