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ESB Financial Corporation Announces Increased Third Quarter Earnings

ESB Financial Corporation (Nasdaq: ESBF), the parent company of ESB Bank, today announced earnings for the quarter ended September 30, 2013 of $0.23 per diluted share on net income of $4.0 million as compared to earnings of $0.22 per diluted share on net income of $3.9 million for the quarter ended September 30, 2012, a 4.6% increase in net income per diluted share. The Company’s annualized return on average assets and average equity were 0.84% and 8.69%, respectively, for the quarter ended September 30, 2013, compared to 0.80% and 8.15%, respectively, for the quarter ended September 30, 2012.

For the nine month period ended September 30, 2013, the Company realized earnings of $0.66 per diluted share on net income of $11.6 million compared to earnings of $0.66 per diluted share on net income of $11.4 million for the same period in the prior year. The Company’s annualized return on average assets and average equity were 0.81% and 8.10%, respectively, for the nine months ended September 30, 2013, compared to 0.77% and 8.05%, respectively, for the nine months ended September 30, 2012.

Charlotte A. Zuschlag, President and Chief Executive Officer of the Company, stated, “The Board of Directors, senior management and I are pleased with the earnings for the quarter and nine month period ended September 30, 2013. We have been successful and prudent in managing our net interest rate margin during this difficult interest rate environment while protecting our asset quality and our future earnings potential. We continue to experience growth in our core deposits which assists in reducing our cost of funds. Our deposits have grown $54.4 million, or 4.6%, since December 2012. This growth has allowed us to decrease our wholesale borrowings and manage our cost of funds which has declined 33 basis points since December 2012.” Ms. Zuschlag continued by stating, “Management will continue to strive to pursue growth opportunities that will provide a sound investment return to our shareholders.” She added, “Our philosophy will continue to manage the net interest margin without compromising asset quality or future earnings potential while continuing to offer quality products to our customers.”

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