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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Peoples LTD Announces First Quarter Earnings

WYALUSING, Pa., May 6, 2013 /PRNewswire/ -- Anthony J. Gabello, President and Chief Executive Officer of Peoples LTD, holding company for PS Bank, has announced results for the first quarter 2013.  Consolidated net income year-to-date of $549,000, or $1.15 earnings per share, compared to first quarter 2012 in the amount of $608,000 or $1.28 per share.

Year-to-date return on assets was .88% as of March 31, 2013 compared to 1.01% for the same period in 2012.  Year-to-date return on equity was 10.30% as of March 31, 2013 compared to the prior year of 12.45%.

Total assets increased to $260,587,000 or 4.44% from December 31, 2012 of $249,500,000.  Deposits increased 5.56% to $221,727,000 compared to $210,040,000 as of December 31, 2012.  Loans increased 4.56% to $161,192,000 from $154,156,000 year ending 2012.

Earnings in the first quarter were affected by increased costs associated with the opening of the bank's ninth branch office in Tunkhannock, increased income tax provisions, and interest rate margin compression resulting from the continued low interest rate environment.

"Growth in our Tunkhannock market has been strong and we have rededicated ourselves to growth in our existing markets also.  Although we have experienced a temporary strain on earnings from our new branch, we are confident that we will greatly benefit from the many financial opportunities in this market.  Competitive pressures remain due to an extended period of low interest rates, resulting in tighter interest margins.  We are very pleased with our 2013 growth to date and are looking forward to the Bank's centennial celebration in 2014," commented Gabello.

Note:  This press release may contain forward looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Actual results and trends could differ materially from those set forth in such statements due to various factors.  These factors include operating, legal and regulatory risks; changing economic and competitive conditions and other risks and uncertainties.

1 of 2

Select the service that is right for you!

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 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • 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