This Day On The Street
Continue to site
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

PVF Capital Corp. Announces Fiscal 2013 Fourth Quarter Earnings And Full-Year Financial Results

  • Net income for the fiscal 2013 fourth quarter of $3.2 million, bringing fiscal 2013 net income to $9.1 million
  • Continued asset quality improvement. 22% reduction in non-performing loans during the quarter
  • Capital ratios remain strong
  • Reversal of valuation allowance against net deferred tax asset resulting in a tax benefit of $1.2 million
  • Announced merger with F.N.B. Corporation has received regulatory approvals and is proceeding
  • Results include merger related expenses of $0.4 million for the fiscal 2013 fourth quarter and $0.7 million for fiscal 2013

SOLON, Ohio, July 30, 2013 (GLOBE NEWSWIRE) -- PVF Capital Corp. (Nasdaq:PVFC), the parent company of Park View Federal Savings Bank, announced net income of $3.2 million, or $0.12 basic and diluted earnings per share, for the fiscal 2013 fourth quarter ended June 30, 2013. These results compare with net income of $0.6 million, or $0.02 basic and diluted earnings per share, for the prior-year quarter and net income of $1.8 million, or $0.07 basic and diluted earnings per share, for the fiscal 2013 third quarter ended March 31, 2013. Fiscal 2013 fourth quarter results included $0.4 million of merger-related expenses. For the 2013 full fiscal year, the Company reported net income of $9.1 million, or $0.35 basic earnings per share and $0.34 diluted earnings per share, compared with a net loss for the prior year of $1.9 million, or $0.08 basic and diluted loss per share.

Robert J. King, Jr., President and Chief Executive Officer, commented, "I am extremely pleased with our results for fiscal 2013. We exceeded our targets for net income as well as asset quality improvement. We finished our fiscal year with solid momentum and look forward to consummating the upcoming merger with F.N.B. Corporation."

1 of 9

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs