This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Ameriana Bancorp Reports First Quarter Net Income Of $121,000 Or $0.04 Per Share

Stocks in this article: ASBI

Ameriana Bancorp (NASDAQ: ASBI), parent company for Ameriana Bank, today announced net income of $121,000 or $0.04 per basic and diluted share for the first quarter of 2011 compared with $80,000 or $0.03 per basic and diluted share for the first quarter of 2010.

Ameriana Bancorp's net interest margin on a fully tax-equivalent basis was 3.76% for the first quarter of 2011. This represented a decline of two basis points from the fourth quarter of 2010 as a result of higher overall deposit levels and relatively soft loan demand, but was 25 basis points higher than the first quarter of 2010. Total deposits in the quarter increased $17.0 million, with $6.2 million coming from callable brokered certificates of deposit and $11.7 million from increased levels of checking, savings and money-market accounts, while non-brokered certificates of deposit decreased $882,000. Funds from the new brokered deposits were used to repay a $6.0 million note to the Federal Home Loan Bank, reducing total borrowing to $45.8 million.

The provision for loan losses totaled $360,000 for the first quarter of 2011, down $195,000 from the fourth quarter of 2010 and flat compared with the year-earlier quarter. The allowance for loan losses increased to 1.41% of total loans at March 31, 2011, from 1.33% of total loans at December 31, 2010, and 1.23% of total loans at March 31, 2010. Total non-performing loans at the end of the first quarter declined $361,000 to $10.9 million from December 31, 2010. Non-performing loans were 3.4% of total loans at March 31, 2011, also down slightly from the end of the prior quarter. Other real estate owned (OREO) declined slightly from the fourth quarter of 2010. The total of classified loans (substandard, non-accrual and OREO) declined $3.5 million from December 31, 2010.

Commenting on the announcement, Jerome J. Gassen, President and Chief Executive Officer, said, "We are pleased to report Ameriana's ongoing profitability in the first quarter of 2011, especially considering the continued challenges that our industry faces. With these results, the Company has remained profitable for seven consecutive quarters.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs