Good morning, and welcome to the SB Financial Fourth Quarter and Full-Year 2019 Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Carol Robbins. Please go ahead.
Good morning, everyone. I'd like to remind you that this conference call is being broadcast live over the Internet and will be archived and available on our website at www.yoursbfinancial.com under Investor Relations. Joining me today are Mark Klein, Chairman, President and CEO; Tony Cosentino, Chief Financial Officer; and Jon Gathman, Senior Lending Officer.
This call may contain forward-looking statements regarding SB Financial's performance, anticipated plans, operational results, and objectives. Forward-looking statements are based on management's expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied on our call today.
We have identified a number of different factors within the forward-looking statements at the end of our earnings release, which you are encouraged to review. SB Financial undertakes no obligation to update any forward-looking statement except as required by law after the date of this call. In addition to the financial results presented in accordance with GAAP, this call will also contain certain non-GAAP financial measures.
I will now turn the call over to Mark Klein.
Mark A. Klein
Thank you, Carol, and good morning, everyone. Welcome to our fourth quarter 2019 conference call and webcast. Our comments today, as with prior quarters, are supplemented by our earnings release that we filed last evening.
Highlights for the quarter include net income of $3.4 million, up $400,000 or 13% increase over the prior-year quarter. And for the full year, excluding our $1.1 million pre-tax OMSR impairment, the adjusted net income was $12.8 million, up $1.2 million or 10% over the prior year.
Consider our results compared to the year-ago quarter and year-over-year. We grew diluted earnings per share for the quarter from $0.37 to $0.42, representing a 14% improvement. And for the full year, when adjusted for the servicing rights, earnings per share were $1.62, up $0.10 or 6.6% year-over-year. We expanded our assets to $1.04 billion, up $52 million, achieved a return on average assets of 128 basis points, up 9 basis points, produced mortgage origination volume of $138 million for the quarter and set a new record of $445 million for the year. Increased loan balances year-over-year to $826 million, up $54 million, while increasing deposits to $840 million, up $38 million, and as with prior quarters maintained our strong asset quality metrics.
Strategically, five key initiatives continue to consume our attention and drive our quest for high performance, and now in 2022 to elite status: revenue diversity and growth is first; more scale with organic growth; more products and services for each of our clients; excellence in operation and greater intimacy on client communications; and lastly, continuing with our key loan quality portfolio and metrics.
First, revenue diversity. Net income of $8.6 million -- net interest income of $8.6
Senior Vice President and Controller
Mark A. Klein
Chairman, President and Chief Executive Officer
Anthony V. Cosentino
Executive Vice President and Chief Financial Officer
Jonathan R. Gathman
Executive Vice President, Senior Leader
J. Ernesto Gaytan
Executive Vice President, Chief Technology Innovation and Operations Officer
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