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Ameriana Bancorp Reports 2012 Net Income Of $1.8 Million Or $0.62 Per Share

Stocks in this article: ASBI

   

AMERIANA BANCORP

Unaudited Financial Highlights

(In thousands, except per share amounts)

 

Three Months Ended December 31,

Year Ended December 31,

2012   2011 2012   2011
Interest income $ 4,510 $ 4,532 $ 18,032 $ 18,794
Interest expense   843     1,091     3,845     4,870  
Net interest income 3,667 3,441 14,187 13,924
Provision for loan losses   255     515     1,145     1,385  
Net interest income after provision

for loan losses

3,412 2,926 13,042 12,539
Other income 1,224 1,682 5,181 5,628
Other expense   3,859     4,066     15,827     17,004  
Income before income taxes 777 542 2,396 1,163
Income tax   200     89     556     21  
Net income $ 577   $ 453   $ 1,840   $ 1,142  
 
Earnings per share:
Basic $ 0.19   $ 0.15   $ 0.62   $ 0.38  
Diluted $ 0.19   $ 0.15   $ 0.62   $ 0.38  
 
Weighted average shares outstanding:
Basic   2,989     2,989     2,989     2,989  
Diluted   2,989     2,989     2,989     2,989  
 
Dividends declared per share $ 0.01   $ 0.01   $ 0.04   $ 0.04  
 
Net interest margin (fully

tax-equivalent basis)

  3.81 %   3.75 %   3.71 %   3.73 %
 

     
 

AMERIANA BANCORP

Unaudited Financial Highlights (Continued)

(In thousands, except per share amounts)

 

Dec. 31, 2012

Sept. 30, 2012

Dec. 31, 2011

Total assets $ 445,763 $ 447,834 $ 429,791
Cash and cash equivalents 20,853 24,722 9,709
Interest-bearing time deposits 5,704 -- --
Investment securities held to maturity 2,349 -- --
Investment securities available for sale 39,296 44,266 43,847
Loans receivable 317,444 313,164 316,641
Allowance for loan losses   4,239     4,236     4,132  
Loans, net 313,205 308,928 312,509
 
Allowance for loan losses as a percentage

of loans receivable

1.34 % 1.35 % 1.30 %
Non-performing loans $ 7,604 $ 8,557 $ 8,828
Allowance for loan losses as a percentage

of non-performing loans

55.7 % 49.5 % 46.8 %
 
Deposits:
Non-interest-bearing $ 53,024 $ 52,383 $ 40,197
Interest-bearing   303,679     305,539     297,053  
356,703 357,922 337,250
 
Borrowed funds $ 45,810 $ 45,810 $ 49,810
Shareholders' equity 36,546 36,190 34,505
Book value per share 12.23 12.11 11.54
 
Regulatory capital ratios for Ameriana Bank:
Tier 1 leverage ratio 9.31 % 9.14 % 9.23 %
Tier 1 risk-based capital ratio 13.18 % 13.03 % 12.32 %
Total risk-based capital ratio 14.45 % 14.30 % 13.58 %
 




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