A bank with five branches in and around Johnson County has reported record earnings for last year.
MainSource Financial Group, which is based in Greensburg, reported earnings of $29 million, or $1.39 per common share, for 2014. That’s up from $26.3 million, or $1.26 per common share, in 2013.
The company also announced a first-quarter dividend of 13 cents per share, payable March 16 to common shareholders of record as of March 6. The increase from 11 cents per share reflects an 18 percent gain in the quarterly common dividend. It was the fifth dividend increase in two years.
The bank finished its acquisition of MBT Bancorp, headquartered in West Harrison, which operates six The Merchants Bank and Trust Co. branches in Indiana and near Cincinnati.
MainSource had an increase in expenses, mainly due to the acquisition and entering new markets. But both interest-based and non-interest-based incomes increased, a news release said.
The company had $4 million less in nonperforming assets, or loans where payments are not being made, in the fourth quarter compared with the third quarter.
“We are very proud of our 2014 performance,” Archie M. Brown Jr., president and chief executive officer of MainSource Financial Group, said in the release.
MainSource has 80 branches in Indiana, Illinois, Ohio and Kentucky.