Huron Valley Bancorp, Inc. Reports Strong Q4 and Record Results for 2015

As of 12/31/2015:

• Q4 net income $297,000 or $0.36 per share, (Q4 2014 was $234,000 or $0.29 per share)
• After tax return on average equity (ROAE) was 10.07% for the quarter, compared to 8.61% for Q4 2014
• Return on average assets (ROAA) was 1.03% for the quarter, compared to 0.93% in 04 2014
• Efficiency ratio at 63.15% for the quarter, compared to 63.55% for Q4 2014
• Net interest margin at 4.20% for the quarter, compared to 4.37% for Q4 2014
• Total assets $115,932,000 (14% increase from Q4 2014)
• Total loans $105,751,000 (20% increase from Q4 2014)
• Total deposits $102,004,000 (14% increase from Q4 2014)
• Past due loans over 30 days at 0.4% of total loans
• Continued 5 star rating from BauerFinancial, Inc.

Milford, Michigan — Huron Valley Bancorp, Inc. (NASDAQ: HVLM) recorded record net income of $1,027,000 or $1.21 per share for the year ended December 31, 2015, compared to $720,000 or $0.87 per share for the previous twelve month. This represents a 42.4% increase over last year. For the complete year 2015 return on average equity (ROAE) was 11.5% and return on assets (ROA) was 0.94%. The strong earnings performance is the result of continued loan growth, strong asset quality, fee income generated from residential mortgages, a favorable net interest margin, and disciplined expense control", said Jack J. Shubitowski, President & CEO. "We were successful in executing our overall growth strategy, with a particular focus on our lending portfolio and expanding our products and services to the community".

In August, the bank celebrated its ten year anniversary and reorganized its business by creating Huron Valley Bancorp, Inc., a holding company that owns 100% of Huron Valley State Bank. In early 2016, Huron Valley Bancorp, Inc. announced the redemption 2,597 outstanding shares of Senior Non-Cumulative Perpetual Preferred Stock Series A that had been issued to the United States Department of Treasury pursuant to the Treasury's Small Business Lending Fund ("SBLF") program. The aggregate redemption price of the Preferred Stock was approximately $2.6 million, including accrued dividends, and was repaid with proceeds borrowed from a financial institution.

The bank once again been recognized as a superior 5-Star rated bank by BauerFinancial, Inc. of Coral Gables, Florida, the nation's leading bank rating and research firm. To earn this rating Huron Valley Bank must report strong capital levels and have solid loan portfolio with negligible levels of delinquent loans. Its 5-Star Superior rating on Huron Valley State Bank denotes the highest level of strength and performance that a bank can receive.