This Day On The Street
Continue to site
ADVERTISEMENT
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

Jefferson Bancshares, Inc. Announces Earnings For The Three And Six Months Ended December 31, 2010

Jefferson Bancshares, Inc. (NASDAQ: JFBI), the holding company for Jefferson Federal Bank, announced net income for the quarter ended December 31, 2010 of $359,000, or $0.06 per diluted share, compared to a net loss of $415,000, or ($0.07) per diluted share, for the quarter ended December 31, 2009. For the six months ended December 31, 2010, the Company reported net income of $618,000, or $0.10 per diluted share, compared to net income of $69,000, or $0.01 per diluted share, for the six months ended December 31, 2009.

Anderson L. Smith, President and Chief Executive Officer, commented, “We are cautiously optimistic about declining delinquencies and a lower level of non-performing loans. However, we will continue to confront challenges due to weakness in the overall economy. We recorded a loan loss provision totaling $950,000 for the quarter ended December 31, 2010 in recognition of uncertain collateral values and the risk of additional credit losses. We continue to maintain a strong liquidity position and our regulatory capital ratios exceed those required to be considered “well capitalized” for regulatory purposes.”

Net interest income remained relatively unchanged at $4.4 million for the three months ended December 31, 2010 compared to $4.5 million for the same period in 2009. The net interest margin was 3.20% for the three months ended December 31, 2010 compared to 3.21% for the same period in 2009. For the six months ended December 31, 2010, net interest income decreased $365,000, or 4.0%, to $8.8 million while the net interest margin declined 12 basis points to 3.14% compared to the same period in 2009. The yield on interest-earning assets declined 70 basis points to 4.82% for the six months ended December 31, 2010 compared to 5.52% for the same period in 2009 due primarily to a shift from average loan balances into lower yielding investment and interest earning deposits. The cost of interest-bearing liabilities declined 62 basis points to 1.76% for the six months ended December 31, 2010 compared to the same period in 2009, due to lower market interest rates, a change in the mix of deposits and a lower level of Federal Home Loan Bank advances.

1 of 5

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs