The Company’s total assets at March 31, 2012, were $443.1 million, an increase of $13.3 million, or 3.1% over total assets at December 31, 2011.Gassen added, "We remain cautiously optimistic that general economic conditions in our markets are improving. Our growing confidence reflects both the increasing business activity we have witnessed in the region and the overall modest gains we have experienced in loan demand. Our credit costs also have begun to decline, even if at a slow pace, and the level of criticized and classified loans is moving lower. Still, we recognize that many uncertainties lie ahead. More time will be needed to work through problem loans and to dispose of other real estate owned. While we believe we have appropriately considered the credit risks in our portfolio, future credit costs are likely to be driven primarily by forces outside our control, like the state of the economy. Nevertheless, we are hopeful that the improvements we have seen over the past several quarters signal a possible end to the negative credit cycle that has affected our company and the industry since 2007."
Ameriana Bancorp Reports First Quarter 2012 Net Income Of $345,000 Or $0.12 Per Share, Up From $121,000 Or $0.04 Per Share In The Year-Earlier Quarter
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