This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

NB&T Financial Reports Earnings For First Quarter 2013

WILMINGTON, Ohio, April 23, 2013 (GLOBE NEWSWIRE) -- NB&T Financial Group, Inc. (Nasdaq:NBTF), parent company of The National Bank and Trust Company ("NB&T"), Wilmington, Ohio, announced net income for the first quarter of 2013 of $1.0 million, or $.30 per share. Net income for the first quarter of 2012 was $361,000, or $.11 per share. Net income is up primarily due to a $1.2 million decrease in the loan losses provision this quarter, compared to the first quarter of 2012.

Net interest income was $5.4 million for the first quarter of 2013, compared to $5.6 million for the first quarter of 2012. The yields on earning assets decreased from 4.06% the same quarter last year to 3.84% for the current quarter. This drop exceeded the decrease in funding costs, which only fell to .30% this quarter from .49% for the same quarter last year. The declining rates on earning assets were offset by allowing certificates of deposit and money market accounts with higher costs to run-off and investing excess short-term funds in loans and higher yielding long-term securities. As a result, net interest margin increased to 3.50% for the first quarter of 2013, compared to 3.46% for the same quarter last year.

The provision for loan losses for the first quarter of 2013 was $140,000, compared to $1.3 million in the same quarter last year. Net charge-offs dropped approximately 84% to $230,000 in the first quarter of 2013, compared to $1.4 million in the first quarter of 2012. This reduction in net charge-offs reduced the historical loss experience applied to the loan portfolio, resulting in a lower quarterly year-over-year loan losses provision. Non-performing loans were $10.4 million at March 31, 2013, compared to $10.6 million at December 31, 2012.

President & CEO, John Limbert, commented, "The current year is off to a better start than last year, especially in terms of asset quality. Net charge-offs are down $1.2 million, other real estate owned is down approximately $1.6 million from the same quarter last year, despite adding approximately $400,000 in the first quarter of this year for our closed Parma branch, and non-accrual loans, at $9.1 million, are the lowest since the third quarter of 2010."

1 of 2

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 17,686.97 -31.57 -0.18%
S&P 500 2,057.56 -3.49 -0.17%
NASDAQ 4,865.6680 -10.8510 -0.22%

Partners Compare Online Brokers

Free Reports

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