Americas United Bank (OTCQB: AUNB) today announced its unaudited results of operations for the second quarter and six-month period ended June 30, 2013. For the quarter, the Bank earned $400,000, or $0.14 per share, compared to net income of $392,000, or $0.14 per share for 2012. The year-to-date earnings were $456,000, or $0.16 per share, compared to net income of $521,000, or $0.18 per share for 2012.
Total assets were $119.7 million at quarter end, up from $114.6 million at year-end 2012, and up from $106.9 million at June 30, 2012. Total net loans were $77.1 million at quarter-end, up from $70.6 million at year-end 2012, and up from $64.8 million at June 30, 2012. Total deposits reached $95.2 million at June 30, 2013, compared to $86.6 million at December 31, 2012, and $80.2 million at June 30, 2012.
“We had modest growth in the quarter as a result of our focus on expanding our balance sheet and adding quality earning assets. Our loans in particular have been a focal point and we remain committed to growth in this area. With this modest growth, we were able to post a quarterly profit of $400,000 and $456,000 for the year-to-date. We continue to key in on our core earnings and remain optimistic that with continued strategic growth our earnings will favorably reflect the results of that strategy. As we indicated in the prior quarter, when comparing our earnings to the prior year quarter, there was some early loan prepayment activity that impacted the results in loans outstanding, interest income, and net interest margin. We are however, building the core customer base and adding to the business development team to continue to grow the Bank. The positive earnings are the results of the collective efforts of our team and we look forward to our continued success going forward,” said Adriana M. Boeka, President and Chief Executive Officer.
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