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

Emclaire Financial Corp. Reports Significant Earnings Growth In 2010

EMLENTON, Pa., Feb. 2, 2011 (GLOBE NEWSWIRE) -- Emclaire Financial Corp. (Nasdaq:EMCF), the parent company of The Farmers National Bank of Emlenton, reported consolidated net income available to common shareholders of $2.7 million or $1.85 per common share for 2010, compared to $1.1 million or $0.80 per common share for 2009. "We are extremely pleased with our performance in 2010," said Chairman, President and CEO, William C. Marsh. "Our loan and deposit growth, coupled with a stable net interest margin and improvements in operating efficiencies, fueled earnings growth during the year. The Board of Directors, executive management, employees and I are proud of our accomplishments, particularly given the prevailing tepid economic conditions, and look forward to continuing our tradition of sound community banking in 2011." The Corporation realized a return on average assets of 0.64% and a return on average common equity of 8.48% for the year ended December 31, 2010, which compare favorably to 0.37% and 3.97%, respectively, reported for 2009.

Net income available to common shareholders was $485,000 or $0.33 per common share for the quarter ended December 31, 2010, compared to $374,000 or $0.26 per common share for the same period in 2009.

During 2010, total assets increased $14.4 million or 3.1% to $481.9 million at December 31, 2010 from $467.5 million at December 31, 2009. This asset growth was driven by an increase in securities of $20.6 million or 19.6% and an increase in net loans of $13.5 million or 4.6% funded by an increase in customer deposits of $24.3 million or 6.3% and a decrease in cash and equivalents of $19.9 million or 51.2%. The Corporation also reduced borrowed funds by $10.0 million or 25.0% during the year. Mr. Marsh noted, "We were particularly pleased with our ability to expand the loan portfolio in 2010 despite a general overall decline in demand for credit. Although the decrease in demand was met with increased competition from other banks, we were able to offer new and existing customers competitive pricing packages that helped meet their needs and fuel our growth."

1 of 6

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 17,757.91 +138.40 0.79%
S&P 500 2,077.42 +14.31 0.69%
NASDAQ 5,013.1230 +26.2560 0.53%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs