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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

            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
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
         (504) 832-9400

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