First Home Bank reports first quarter gains

SEMINOLE — First Home Bank announced a significantly improved financial picture so far this year. The banks says its first quarter net income was $123,257, compared with $1,247 for the first quarter of 2013. Earnings improved 446% over the fourth quarter 2013 results of $22,562.

The first quarter earnings represent 0.68% return on average assets and 11.5% return on average equity.

The bank reported Tier 1 capital to average assets were 8.21% for the quarter, up from 5.74% as of Dec. 31.