State Investors Bancorp, Inc. Reports Fourth Quarter Results

State Investors Bancorp, Inc. is the holding company for State-Investors Bank which conducts business from its main office and three full-service branch offices in the greater New Orleans market area.

The State Investors Bancorp logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9932

            Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like "believe," "expect," "anticipate," "estimate" and "intend" or future or conditional verbs such as "will," "would," "should," "could" or "may." We undertake no obligation to update any forward-looking statements.

State Investors Bancorp, Inc. and Subsidiary
Condensed Consolidated Balance Sheets
(In thousands)
	December 31, 2012	December 31, 2011
ASSETS	(Unaudited)
Cash and cash equivalents	$ 12,729	$  7,700
Investment securities	46,474	53,361
Loans receivable, net	174,833	175,130
Other assets	11,982	13,425
Total assets	$246,018	$249,616
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits	$161,163	$157,561
FHLB advances	39,286	42,308
Other liabilities	2,067	1,776
Total liabilities	202,516	201,645
Total shareholders' equity	43,502	47,971
Total liabilities and shareholders' equity	$246,018	$249,616

State Investors Bancorp, Inc. and Subsidiary
Condensed Consolidated Income Statements
(In thousands, except per share data)
	Three Months ended December 31,		Year Ended December 31,
	2012	2011	2012	2011
	(Unaudited)		(Unaudited)
Total interest income	$2,501	$2,729	$10,407	$10,799
Total interest expense	691	768	2,724	3,410
Net interest income	1,810	1,961	7,683	7,389
Provision for loan losses	50	30	142	154
Net interest income after provision for loan losses	1,760	1,931	7,541	7,235
Non-interest income	51	75	239	255
Non-interest expense	1,598	1,497	6,537	5,887
Income before income taxes	213	509	1,243	1,603
Income taxes	116	141	491	553
NET INCOME	$   97	$ 368	$   752	$1,050
Earnings Per Share
Basic	$0.04	0.13	$0.26	0.74
Diluted	$0.04	0.13	$0.26	0.74
	Three Months ended December 31,		Year ended December 31,
	2012	2011	2012	2011
	(Unaudited)		(Unaudited)
Selected Operating Ratios(1):
Average interest rate spread	2.92%	3.20%	3.03%	3.24%
Net interest margin	3.17%	3.43%	3.30%	3.41%
Average interest-earning assets to average interest-bearing liabilities	120.38%	117.36%	123.70%	111.09%
Asset Quality Ratios(2):
Non-performing assets as a percent of total assets	1.45%	1.35%	1.45%	1.35%
Allowance for loan losses as a percent of non-performing loans	48.37%	47.32%	48.37%	47.32%
Allowance for loan losses as a percent of total loans receivable	0.98%	0.90%	0.98%	0.90%
Per Share Data:
Shares outstanding at period end	2,565,992	2,909,500	2,565,992	2,909,500
Weighted average shares outstanding:
Basic	2,728,196	2,909,500	2,859,527	1,419,000
Diluted	2,763,048	2,909,500	2,875,467	1,419,000
Tangible book value at period end	$16.95	$16.49	$16.95	$16.49
1) Ratios for the three month periods are annualized.
2) Asset quality ratios are end of period ratios.

CONTACT: Anthony S. Sciortino, President and Chief Executive Officer
         [phone]

« First ‹ Previous 1 2 3