Talmer Bank posts 1Q earnings

Staff report

YOUNGSTOWN

Michigan-based Talmer Bancorp Inc. on Wednesday reported first-quarter 2016 net income of $19.7 million, compared with $13.1 million for the fourth quarter of 2015 and $9.4 million for the first quarter of 2015.

Earnings per diluted common share were $0.28 for the first quarter of 2016, compared with $0.19 for the fourth quarter of 2015 and $0.12 for the first quarter of 2015.

Core earnings per diluted average share, a non-GAAP financial measurement, were $0.31 per diluted average common share for the first quarter of 2016, compared with $0.38 and $0.20 per diluted average common share for the fourth quarter of 2015 and the first quarter of 2015, respectively.

On April 27, the board of directors of Talmer declared a quarterly cash dividend on its Class A common stock of $0.05 per share. The dividend will be paid on May 25, to Class A common shareholders of record as of May 11.