While the levels of non-performing assets and net charge-offs reflect a certain amount of stability in credit quality, the Company recognizes that the ongoing decline in asset values often makes a favorable resolution of problem loans difficult. As part of its efforts to manage credit issues and boost the Company's allowance for loan losses in the face of a still-elevated level of net charge-offs and non-performing loans, Ameriana recorded a $658,000 provision for loan losses in the second quarter of 2010. The Company's allowance for loan losses was $4.0 million or 1.32% of total loans at June 30, 2010, up from 1.23% of total loans at December 31, 2009 and 1.07% of total loans at June 30, 2009.Ameriana Bancorp is a bank holding company. Through its wholly owned subsidiary, Ameriana Bank, the Company offers an extensive line of banking services and provides a range of investments and securities products through banking centers in the central Indiana area. Ameriana Bank owns Ameriana Insurance Agency, a full-service insurance agency, and Ameriana Financial Services, which offers securities and insurance products through LPL Financial (Member FINRA/SIPC).
Ameriana Bancorp Reports Second Quarter Net Income Of $229,000 Or $0.08 Per Share
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.