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Last year was another exciting year as we met and exceeded our profitability projections and continued our upward trend in asset growth.
The greatest news from 2015 is the fact that we surpassed our net income projections, rising from $9,560,000 in 2014 to $11,290,000 in 2015, resulting in an 18% increase from the previous year. Additionally, you will see in our financial report that we have met and even surpassed our asset projections, growing an additional 5.4%. This is an amazing performance, as we now are a 1.5 billion dollar company and we continue to be financially strong and viable. As you know, our capital adequacy last year was a challenge, but I am happy to report that we have stabilized our capital ratios and now continue to improve by way of increased retained earnings and a capital injection. Our total shareholder's equity increased by 9.7% giving us some cushion for expansion and growth in the future.
— Lourdes (Lou) A. Leon Guerrero
PRESIDENT & CHAIR OF THE BOARD