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Denmark Bancshares reports 2012 earnings

8:37 PM, Mar. 29, 2013  |  Comments
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DENMARK - Denmark Bancshares Inc. reported full-year earnings of $3.75 million for 2012.

Earnings equaled $31.66 per share for the year, up from $30.37 per share, or $3.6 million, in 2011.

Total assets at the end of December were $432.1 million, a year-to-year increase of $6.1 million, or 1.4 percent. Total deposits were $337 million, up 2.8 percent.

The ratio of loans more than 30 days past due was 1.8 percent, compared to 3.6 percent a year earlier.

"We are pleased with the significant improvement in credit quality in 2012 as nonaccrual loans totaling $8.7 million ... were reduced nearly in half to $4.5 million, or 1.5 percent of total loans as of December 2012," said Jack Olsen, CEO.

The Tier 1 capital ratio was 13.7 percent.

Denmark Bancshares operates six offices in Brown and Manitowoc counties.

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