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

NB&T Financial Reports Earnings For Third Quarter 2012

WILMINGTON, Ohio, Oct. 16, 2012 (GLOBE NEWSWIRE) -- NB&T Financial Group, Inc. (Nasdaq:NBTF), parent company of The National Bank and Trust Company (the "Bank"), Wilmington, Ohio, announced net income for the third quarter of 2012 of $1.3 million, or $.37 per share.  Net income for the third quarter of 2011 was $1.1 million, or $.33 per share.   Net income increased primarily due to recognition of $1.0 million in securities sale gains, compared to $421,000 in securities sale gains in the third quarter of last year. In addition, the Bank's other non-interest income increased to $3.0 million in the third quarter of 2012 from $2.1 million in the same quarter last year, offset by increased provision for loan losses of approximately $1.5 million. Net income for the first nine months of 2012 was $2.8 million, or $.81 per share, compared to $3.2 million, or $.93 per share, for the same period in 2011.   

Reviewing the third quarter 2012, President & CEO, John Limbert, commented, "The four-year-old recession continues to negatively impact specific business sectors. We have invested considerable time and talent partnering with certain clients in some of these affected sectors. Based on our ongoing analysis of non-performing loans, we recorded additional loan loss provisions this quarter. At September 30, 2012, the total allowance for loan losses is $6.1 million, representing 1.5% of total loans."

Net interest income was $5.4 million for the third quarter of 2012, compared to $5.8 million for the third quarter of 2011. Net interest margin decreased to 3.42% for the third quarter of 2012, compared to 3.67% for the same quarter last year. The net interest margin decreased primarily due to a change in asset mix from higher-yielding loans to lower-yielding securities. Average loans, which had an average rate of 5.34%, declined $7.9 million, while average overnight investments and securities, with an average rate of 1.47%, increased $19.5 million in the third quarter of 2012. Net interest income for the first nine months of 2012 was $16.4 million, compared to $17.8 million for the first nine months of 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
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,073.60 -6.54 -0.04%
S&P 500 2,118.33 +0.64 0.03%
NASDAQ 5,084.9490 -7.1360 -0.14%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs