Affinity Bancshares, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
February 10, 2023 at 04:32 pm EST
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Affinity Bancshares, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported net interest income was USD 7.34 million compared to USD 6.66 million a year ago. Net income was USD 1.7 million compared to USD 1.32 million a year ago. Basic earnings per share from continuing operations was USD 0.26 compared to USD 0.19 a year ago. Diluted earnings per share from continuing operations was USD 0.26 compared to USD 0.18 a year ago.
For the full year, net interest income was USD 29.76 million compared to USD 29.28 million a year ago. Net income was USD 7.13 million compared to USD 7.57 million a year ago. Basic earnings per share from continuing operations was USD 1.07 compared to USD 1.1 a year ago. Diluted earnings per share from continuing operations was USD 1.06 compared to USD 1.09 a year ago.
Affinity Bancshares, Inc. is the holding company for Affinity Bank (the Bank). The Company's business consists primarily of taking deposits from the general public and investing those deposits, together with funds generated from operations, in commercial real estate loans, commercial and industrial loans and residential real estate loans and, to a lesser extent, construction and land loans and consumer loans. It makes commercial and industrial loans, primarily in its market area, to a variety of professionals, sole proprietorships and small businesses, including dental loans, which are originated throughout the Southeastern United States. It offers a variety of deposit accounts, including checking accounts, savings accounts and certificate of deposit accounts. It gathers deposits nationwide through its virtual bank, FitnessBank, which accepts deposits and provides higher interest rates based on customers meeting certain fitness goals. It offers a limited range of consumer loans.