This Day On The Street
Continue to site
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

Ameriana Bancorp Second Quarter 2012 Net Income Of $453,000 Or $0.15 Per Share

Ameriana Bancorp (NASDAQ: ASBI), parent company for Ameriana Bank, today announced earnings for the second quarter of 2012 of $453,000, or $0.15 per basic and diluted share, compared with $270,000, or $0.09 per basic and diluted share, for the second quarter of 2011. This marked the 12th consecutive profitable quarter for Ameriana.

For the first six months of 2012, Ameriana's net income more than doubled to $798,000, or $0.27 per basic and diluted share, compared with $391,000, or $0.13 per basic and diluted share, in the year-earlier period.

Commenting on the announcement, Jerome J. Gassen, President and Chief Executive Officer, said, "We are pleased to announce another quarter of profitable performance for Ameriana, driven primarily by continued expense management and stability in several key aspects of our business. These areas included our loan portfolio and credit quality, credit costs, overall funding and net interest margin. Some strengthening of the economy during the first half of the year contributed to this ongoing stability, particularly in terms of the level of our credit losses and non-performing loans.

"We believe these positive second quarter results indicate that our business fundamentals remain sound, positioning us to take advantage of any uptick in the economy in the second half of the year," Gassen continued. "However, we are concerned that meaningful improvements may not occur in the near term. The prevailing interest rate environment, which is at a historic low and soon could be pressured closer to zero, fiscal and regulatory conditions, and even the far-reaching effects of recessions occurring in international economies combine to create an environment of uncertainty that may further pressure loan growth and margins in the future. Nevertheless, Ameriana will remain focused on reducing expenses, working down non-performing assets and lowering overall credit costs."

The Bank recorded a provision for loan losses of $380,000 for the second quarter of 2012, which resulted in an allowance for loan losses to total loans ratio of 1.33% at June 30, 2012, an increase from 1.28% at March 31, 2012, and 1.32% at June 30, 2011. Non-performing loans were 2.8% of total net loans at June 30, 2012, compared with 2.7% at the end of the first quarter of 2012 and 2.6% at June 30, 2011.

1 of 3

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs