This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Siuslaw Financial Group Reports 4th Quarter And YTD Earnings

Siuslaw Financial Group (OTCBB:SFGP), parent company of Siuslaw Bank, today announced 4 th quarter after-tax earnings of $957,000 compared to $240,000 for the same period in 2011. Year-end financial results included year to date after-tax earnings of $3,390,000 compared to $2,229,000 a year ago representing a 52% increase.

Earnings per diluted common share totaled $ 0.83 vs. $0.54 per common share in 2011. The earnings represent a 9.93% return on equity (ROE) and 1.04% return on assets (ROA).

The company reported $319.7 million in total assets and deposits of $273.9 million, compared to $317.6 million and $273.7 million in 2011. Net loans increased by 5.1% to $219.3 million.

The Board of Directors had previously announced $0.05 and $0.0525 per share quarterly dividends during 2012 and a special $0.20 per share dividend to common shareholders and a $0.21 per share special dividend to preferred shareholders in December 2012.

The Board also appointed Lonnie Iholts as chief executive officer of Siuslaw Bank, a position held by Johan Mehlum since Siuslaw was chartered 49 years ago. Iholts has been president of the bank since 2001 and was also appointed to the bank’s board of directors. Mehlum remains chairman of the bank board and chairman and chief executive of the holding company.

Headquartered in Florence, Siuslaw Financial Group is the parent company of Siuslaw Bank, with offices in Cottage Grove, Creswell, Eugene, Mapleton, Oakridge, Pleasant Hill, Springfield and Veneta. All offices are located in Lane County.

Siuslaw Financial Group, Inc

Selected Financial Highlights

(In Thousands, Except Per Share Data, Unaudited)

December 2012 December 2011
Income Statement Data Year-To-Date Year-To-Date
Total Interest Income 12,902 13,565
Total Interest Expense 917 1,419
Net Interest Income 11,985 12,146
Loan Loss Provision 930 1,275
Net Interest Income After LLP 11,055 10,871
Non-Interest Income 7,213 5,235
Non-Interest Expense 14,027 13,735
Income Before Taxes 4,241 2,371
Provision for Taxes 851 142
Net Income 3,390 2,229
Share Data
YTD Earnings Per Share 0.83 0.54
Book Value Per Share 8.51 8.04
Balance Sheet Data
Investment Securities AFS 18,361 20,126
Net Loans 219,312 208,624
Total Assets 319,686 317,629
Total Deposits 273,869 273,712
Total Shareholders' Equity 34,882 33,073
Key Ratios
YTD Return on Average Assets (ROAA) 1.04% 0.69%
YTD Return on Average Equity (ROAE) 9.93% 6.78%

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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