This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Ameriana Bancorp Reports Third Quarter 2012 Net Income Of $465,000 Or $0.16 Per Share

Stocks in this article: ASBI

Ameriana Bancorp (NASDAQ: ASBI), parent company for Ameriana Bank, today announced earnings for the third quarter of 2012 of $465,000, or $0.16 per basic and diluted share, compared with $298,000, or $0.10 per basic and diluted share, for the third quarter of 2011. This marked the 13th consecutive profitable quarter for Ameriana.

For the first nine months of 2012, Ameriana’s net income increased to $1.3 million, or $0.42 per basic and diluted share, compared with $689,000, or $0.23 per basic and diluted share, in the year-earlier period.

Commenting on the announcement, Jerome J. Gassen, President and Chief Executive Officer, said, “We were pleased to see several positive trends continue during the third quarter, which contributed to a 56% increase in net income compared with the same quarter last year. These trends included a solid net interest margin, which, while declining slightly from the year-earlier period, was still relatively stable. Also, credit quality continued to improve, as non-performing loans and losses and write-downs on other real estate owned declined. Lastly, our expense control efforts continued to reduce non-interest costs, which were 7% lower this quarter compared with the third quarter of last year. In addition to these factors, we also experienced an increase in loan demand during the third quarter, with growth in both mortgage and commercial lending.

“While our third quarter results continue to show progress in many of our focus areas, we remain concerned about the economic and regulatory environment we face,” Gassen continued. “The economy is not as strong as we would expect at this point, and the regulatory climate involves unprecedented uncertainty for community banks. Considering this, we recognize the recent pickup in loan volume may not be sustainable over the long term. Therefore, we will continue to focus on expense control and reducing overall credit costs as a way to buffer these risks.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

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