Wheatland Bank posts record earnings
Last updated 3/5/2017 at 1:54am
(Spokane, WA) – Community Financial Group, Inc. and its wholly owned subsidiary Wheatland Bank, reported consolidated net income of $2.4 million for the year ended December 31, 2016, up 38 percent over the prior year’s net income. In 2016, earnings per share increased by 37 percent over the 2015 level to $1.78, and the consolidated return on average equity was 8.4 percent for 2016, up 28 percent from 6.6 percent.
These positive results generated a 22 percent annual appreciation of the market value of the company’s stock. In turn, the board of directors declared a 5 percent stock divid...