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Standard Financial Corp. Announces Quarterly Dividend Payment And Fourth Quarter And Fiscal Year Earnings

MONROEVILLE, Pa., Oct. 18, 2012 (GLOBE NEWSWIRE) -- Standard Financial Corp. (the "Company") (Nasdaq:STND), the holding company for Standard Bank PaSB, today announced earnings for the quarter ended September 30, 2012 of $579,000 or $0.18 per share compared to $734,000 or $0.23 per share for the quarter ended September 30, 2011. The Company's annualized return on average assets and average equity were 0.52% and 2.89%, respectively, for the quarter ended September 30, 2012 compared to 0.67% and 3.77%, respectively, for the quarter ended September 30, 2011.

For the year ended September 30, 2012, net income was $3.0 million or $0.93 per share compared to $2.4 million or $0.76 per share for the year ended September 30, 2011. The $532,000 increase in net income for the year ended September 30, 2012 compared to the prior year was primarily due to a one-time $908,000 after tax expense for a contribution to Standard Charitable Foundation in the first quarter of fiscal 2011.  The Company's return on average assets and average equity were 0.67% and 3.73%, respectively, for the year ended September 30, 2012 compared to 0.56% and 3.18%, respectively, (0.76% and 4.38%, respectively, excluding the one-time charitable foundation contribution) for the year ended September 30, 2011.

The Company's board of directors declared a quarterly cash dividend of $.045 per share of the Company's common stock. The dividend will be payable to stockholders of record as of November 2, 2012 and will be paid on November 15, 2012.

Timothy K. Zimmerman, President & CEO, stated, "Our focus remains on the key elements that contribute to the maintenance of core operating earnings which include loan production, asset quality, expense control, effective management of interest rate risk and product pricing. Results for the 2012 fiscal year reflect encouraging signs in many of these areas with net loan growth despite continued high repayments, net deposit growth and improved non-performing loan ratios. Management of the interest rate margin is especially challenging in the continued unprecedented historical low interest rate environment."

Stock quotes in this article: STND 

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