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
TheStreet Open House

Ameriana Bancorp Reports Second Quarter Net Income Of $270,000 Or $0.09 Per Share

Stock quotes in this article: ASBI

Ameriana Bancorp's net interest margin on a fully tax-equivalent basis was 3.74% for the second quarter of 2011, down two basis points from the first quarter of 2011. The net interest margin increased 13 basis points versus the second quarter of 2010, primarily due to a decrease in the cost of funds. For the first six months of 2011, net interest margin increased 19 basis points to 3.75% compared with 3.56% in the year-earlier period.

The provision for loan losses totaled $255,000 for the second quarter of 2011, down $105,000 from the first quarter of 2011 and down $403,000 compared with the year-earlier quarter. The allowance for loan losses decreased to 1.32% of total loans at June 30, 2011, compared with 1.41% of total loans at March 31, 2011, and was flat compared with June 30, 2010. Total non-performing loans at the end of the second quarter were $8.1 million, a decline of $2.8 million from March 31, 2011. Non-performing loans were 2.6% of total loans at June 30, 2011, down from 3.6% at the end of the first quarter of 2011. OREO declined slightly from the first quarter of 2011. The total of classified assets (substandard loans, non-accrual loans and OREO) declined $3.6 million from March 31, 2011.

Ameriana's loan portfolio, while up $4.6 million on a year-over-year basis, declined $3.7 million and $2.1 million during the first and second quarters of 2011, respectively, as demand for both commercial and residential mortgage loans remained weak, and Ameriana continued to sell new production fixed-rate residential mortgage loans in the secondary market.

Total deposits decreased $800,000 during the second quarter of 2011, primarily a result of the Bank calling and redeeming $5.1 million of brokered certificates of deposit, but total deposits at June 30, 2011, were still $16.2 million higher than December 31, 2010, and $22.4 million above the total a year earlier at June 30, 2010.

2 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
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 17,042.90 -28.32 -0.17%
S&P 500 1,972.29 -5.51 -0.28%
NASDAQ 4,493.39 -12.4620 -0.28%

Brokerage Partners

Rates from Bankrate.com

  • 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