This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SP Bancorp, Inc. Announces Financial Results For The Third Quarter Of 2010

The SP Bancorp, Inc. logo is available at

Forward-Looking Statement

This press release contains statements that are forward-looking, as that term is defined by the Private Securities Litigation Reform Act of 1995. The Bank and Company intend that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors including, but not limited to, real estate values and the impact of interest rates on financing. Accordingly, actual results may differ from those expressed in the forward-looking statements, and the making of such statements should not be regarded as a representation by the Bank or Company or any other person that results expressed therein will be achieved. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update them in light of new information of future events.
SharePlus Federal Bank Financial Highlights    
  At  At
  September 30, December 31,
  2010 2009
   (In thousands)
Selected Financial Condition Data:    
Total assets  $ 233,854 $ 208,132
Total cash and cash equivalents 25,336 11,717
Securities available for sale, at fair value 12,945 13,492
Loans held for sale 6,692 932
Loans, net 176,219 170,535
Premises and equipment, net 4,730 4,905
Federal Home Loan Bank of Dallas stock    
 and other restricted stock, at cost 1,002 1,655
Other assets (1) 6,930 4,896
Deposits 198,163 172,591
Borrowings 15,989 15,995
Equity capital 17,556 17,262
(1) Includes fixed annuity investment, accrued interest receivable, deferred tax assets and other assets.
  Three Months Ended Nine Months Ended
  September 30, September 30,
  2010 2009 2010 2009
  (Unaudited) (Unaudited)
    (In thousands)  
Selected Operating Data:        
Interest income  $ 2,607  $ 2,665  $ 7,682  $ 7,891
Interest expense 523 658 1,635 2,135
 Net interest income 2,084 2,007 6,047 5,756
Provision for loan losses 134 301 1,305 499
 Net interest income after         
 provision for loan losses 1,950 1,706 4,742 5,257
Noninterest income 770 524 1,951 1,756
Noninterest expense 2,322 2,082 6,376 6,453
Income before taxes 398 148 317 560
Income tax expense 151 67 112 229
 Net income  $ 247  $ 81  $ 205  $ 331
Asset Quality Ratios:        
Non-performing loans to total loans 2.51% 1.95% 2.51% 1.95%
Non-performing assets to total assets 1.91% 1.68% 1.91% 1.68%
Annualized net charge-offs to average         
 loans outstanding  0.24% 0.18% 0.20% 0.17%
Allowance for loan losses to non-        
 performing loans at end of period 44.80% 23.41% 44.80% 23.41%
Allowance for loan losses to total loans        
 at end of period 1.12% 0.46% 1.12% 0.46%
CONTACT:  SP Bancorp, Inc.
          Jeffrey Weaver, President and CEO
          (972) 931-5311
          5224 W. Plano Parkway
          Plano, TX 75093

company logo

4 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs