MONROEVILLE, Pa., Jan. 20, 2011 (GLOBE NEWSWIRE) -- Standard Financial Corp. (Nasdaq:STND), the holding company for Standard Bank PaSB, (the "Company") today announced first quarter earnings of $17,949 for the three month period ended December 31, 2010. Net income for the Company's first quarter as a public company was significantly impacted by a $1.4 million one-time contribution to Standard Charitable Foundation ($908,000 after tax impact). This contribution represented $1.2 million or 3.5% of the stock issued on October 6, 2010 and $200,000 in cash. Excluding the after tax impact of the contribution, operating earnings would have been $926,000 or $0.27 per share for the quarter ended December 31, 2010 compared to net income of $855,000 for the prior year quarter representing an 8.3% increase. Annualized return on average assets and average equity were 0.02% and 0.10%, respectively, (0.85% and 4.94%, respectively, excluding the one-time charitable foundation contribution) for the quarter ended December 31, 2010. The comparable ratios for the quarter ended December 31, 2009 were 0.88% and 8.01%, respectively.
Standard Financial Corp. Announces First Quarter Earnings
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