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!

State Investors Bancorp, Inc. Reports Fourth Quarter Results

Stocks in this article: SIBC

METAIRIE, La., Feb. 5, 2014 (GLOBE NEWSWIRE) -- State Investors Bancorp, Inc. (the "Company") (Nasdaq:SIBC), the holding company of State-Investors Bank, reported net income for the quarter ended December 31, 2013, of $179,000, an increase of $82,000, as compared to net income of $97,000 reported for the quarter ended December 31, 2012. Earnings per share, basic and diluted, were $0.07 for the quarter ended December 31, 2013, compared to $0.04 for the quarter ended December 31, 2012. Net income for the year ended December 31, 2013 amounted to $508,000, a decrease of $244,000 from $752,000 in net income reported for the year ended December 31, 2012. Earnings per share, basic and diluted, were $0.20 for the year ended December 31, 2013, compared to $0.26 for the year ended December 31, 2012.    

The increase in net income for the quarter ended December 31, 2013 resulted primarily from a $67,000, or 2.7%, increase in total interest income, a decrease of $50,000, or 100.0%, in the provision for loan losses, and a decrease of $35,000, or 5.1%, in total interest expense. This was partially offset by a decrease of $35,000, or 68.6%, in non-interest income, an increase of $21,000, or 1.3%, in total non-interest expense, and an increase of $14,000, or 12.1%, in the provision for income taxes. Net interest income increased $102,000, or 5.6%, due to the $67,000 increase in total interest income as a result of an overall increase in interest earning assets. The decrease in non-interest income was due to a $46,000 loss on other real estate owned partially offset by an increase in service charges, fees and other operating income of $11,000, or 21.6%, compared to the quarter ended December 31, 2012. The increase in non-interest expense was primarily due to an increase in data processing expense of $89,000, or 108.5%, as well as increases of $62,000, or 71.3%, in occupancy expenses, $8,000, or 12.1%, in professional fees, and $1,000, or 4.6%, in advertising expense, partially offset by decreases of $115,000, or 34.0%, in other non-interest expenses, $8,000, or 33.3%, in office supplies and postage expense, $7,000, or 0.8% in salaries and employee benefits expense, $7,000, or 11.9%, in security expense, and $2,000, or 4.4%, in deposit insurance premiums. No provision for loan losses was made during the quarter ended December 31, 2013.            

1 of 3

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 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

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