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!

Emclaire Financial Corp Reports 2012 Earnings; Announces Annual Meeting Date

EMLENTON, Pa., Feb. 1, 2013 (GLOBE NEWSWIRE) -- Emclaire Financial Corp (Nasdaq:EMCF), the parent holding company of The Farmers National Bank of Emlenton, reported consolidated net income of $3.7 million for the twelve months ended December 31, 2012, compared to $3.8 million for the same period in 2011. The results for 2012 were impacted by an increase in the provision for loan losses, which overshadowed growth in recurring revenue and reductions in noninterest expense. The Corporation realized a return on average assets of 0.70% and a return on average common equity of 7.56% for the year ended December 31, 2012, compared to 0.78% and 8.98%, respectively, reported for 2011.

Net income was $691,000 for the quarter ended December 31, 2012, compared to $1.2 million for the same period in 2011. The fourth quarter of 2012 included $567,000 in provision for loan losses compared to $100,000 for the same quarter in 2011.

William C. Marsh, Chairman, President and Chief Executive Officer of the Corporation and the Bank, noted, "The Board of Directors, management and I are pleased with core earnings for 2012 and the continued growth of our franchise. During this past year, despite the increase in nonperforming assets, the provision for loans losses, and the corresponding impact on earnings, we have seen increases in net interest income and core noninterest revenues and have continued our disciplined management of operating expenses. Further, we continue to maintain a sound capital base while providing a solid return to our shareholders and we are well positioned for future growth opportunities."

2012 OPERATING RESULTS OVERVIEW

Net income available to common stockholders decreased $155,000, or 4.7%, to $3.2 million or $1.80 per common share in 2012, compared to $3.3 million or $1.98 per common share in 2011. The decrease primarily related to a $1.7 million increase in the provision for loan losses, which was partially offset by increases in net interest income and noninterest income of $379,000 and $1.1 million, respectively, and decreases in noninterest expense and the provision for income taxes of $108,000 and $16,000, respectively.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
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 17,086.63 -26.91 -0.16%
S&P 500 1,987.01 +3.48 0.18%
NASDAQ 4,473.6970 +17.6810 0.40%

Brokerage Partners

Rates from Bankrate.com

  • 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