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

Pulaski Financial Reports Continuing First Fiscal Quarter Earnings Momentum And Asset Quality Improvement

Pulaski Financial Corp. (Nasdaq Global Select: PULB) reported net income available to common shares for the quarter ended December 31, 2012 of $2.7 million, or $0.25 per diluted common share, compared with $2.5 million, or $0.23 per diluted common share, for the quarter ended December 31, 2011.

Gary Douglass, President and Chief Executive Officer, commented, “We are very pleased with our quarterly results and our strong start to fiscal 2013. We reported net interest income growth and net interest margin expansion at a time when many banks are reporting declines. Significantly lower total credit costs and accelerating declines in non-performing assets reflect an ongoing focus on improving asset quality. Despite a challenging and generally low growth operating environment, our commercial lending team delivered a very good quarter in terms of loan growth. And finally, our mortgage banking operation contributed yet another strong quarter of revenue growth.”

Net Interest Income Remained Strong

Net interest income was $11.8 million for the first quarter of fiscal 2013 compared with $12.1 million for the same period a year ago. The decrease was due to a decline in the net interest margin combined with a decline in the average balance and a change in the mix of interest-earning assets.

The net interest margin for the December 2012 quarter was 3.87%, down from the historical high of 3.97% for the quarter ended December 31, 2011. However, it was up from 3.75% for the quarter ended September 30, 2012. During the December 2012 quarter, the Company collected $285,000 of interest income on a commercial loan that was previously charged off, which resulted in an increase in the net interest margin for the quarter of approximately 10 basis points. The decrease in the net interest margin from the prior-year quarter was primarily the result of market-driven decreases in the average yields on loans receivable and loans held for sale partially offset by a decrease in funding costs. The increase from the linked quarter was due to an increase in the average yield on loans receivable resulting primarily from a decrease in the level of non-performing loans and the collection of the previously charged-off interest, partially offset by a market-driven decrease in the average yield on loans held for sale. Lower funding costs also contributed to the linked-quarter increase.

1 of 6

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
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs