ASB Bancorp Inc., the parent of Asheville Savings Bank, reported a net loss of $3.3 million for the fourth quarter 2016, according to a filing with the Securities and Exchange Commission.

The loss of 97 cents per share is compared to a net income of $946,000, or 24 cents, for the same quarter in 2015.

For the 2016 year, ASB reported net income of $1.2 million, or 33 cents per share, compared to $3.6 million, or 89 cents per share for the 2015 year.

The filing reported that the loss was due to the bank’s settlement of a qualified pension plan liability during the quarter.

Without the settlement, net income for the fourth quarter would have increased 58.1 percent to $1.5 million, or 42 cents per share. The net income for the 2016 year would have increased to $6 million, up 68.9 percent from 2015.

“We ended 2016 as we began it, with solid financial results and strong core earnings,” said CEO Suzanne DeFerie. “This was a result of continued growth in core deposits and loans, growth in net interest margin, good cost control and improved credit quality.”

Net interest income for the 2016 fourth quarter increased to $6.1 million from $5.7 million for the same period in 2015, up 6.9 percent. Interest income also increased 8.1 percent, due to an increased in average loan balances.

Delinquent and nonperforming loans decreased during the 2016 year, and core deposits increased 4.1 percent, or $20.5 million, for the fourth quarter.

ASB stock closed Monday at $30.83, down from Friday’s $31.80 close.