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Monarch Community Bancorp, Inc. Announces First Quarter Loss

Stocks in this article: MCBF

For additional information, visit Monarch Community Bancorp's website at www.monarchcb.com .

Monarch Community Bancorp, Inc.
Condensed Balance Sheet
(Unaudited)
  March 31, December 31,
  2013 2012
Assets    
Cash and cash equivalents  $ 44,559  $ 28,744
Securities   15,712  15,398
Loans  124,201  130,045
Other assets   12,196  16,136
Total assets  $ 196,668  $ 190,323
     
Liabilities and Stockholders' Equity    
Liabilities    
Deposits   $ 176,357  $ 169,460
Borrowings  7,059  7,059
Other liabilities  3,208  3,337
Total liabilities  186,624  179,856
     
 Stockholders' equity  10,044  10,467
Total liabilities and stockholders' equity  $ 196,668  $ 190,323
 
 
Monarch Community Bancorp, Inc.
 Condensed Statement of Income 
(Unaudited)
  Three Months Ended March 31,
  2013 2012
Interest Income  1,951  2,305
Interest Expense  375  633
Net Interest Income  1,576  1,672
Provision for Loan Losses   --   28
Net Interest Income After Provision for Loan Losses  1,576  1,644
Noninterest Income  1,218  840
Noninterest Expense  3,122  2,885
Income - Before income taxes  (328)  (401)
Income Taxes   --   -- 
Net Income   $ (328)  $ (401)
Dividends and amortization of discount on preferred stock  $ 99  $ 100
Net Income (loss) available to common stock  $ (427)  $ (501)
Earnings Per Share     
Basic  $ (0.21)  $ (0.25)
Diluted  $ (0.21)  $ (0.25)
CONTACT: Richard J. DeVries, CEO
         (517) 279-3978
         
         Rebecca S. Crabill, CFO
         (517) 279-3956

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