Because of the risks and uncertainties inherent in forward-looking statements, readers are cautioned not to place undue reliance on them, whether included in this report or made elsewhere from time to time by the Company or on its behalf. Except as may be required by applicable law or regulation, the Company assumes no obligation to update any forward-looking statements

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY CONSOLIDATED FINANCIAL HIGHLIGHTS ( Unaudited - Dollars in thousands, except per share amounts)  
  THREE MONTHS ENDED YEARS ENDED
  DECEMBER 31, DECEMBER 31,
  2012 2011 2012 2011
Operating Data:        
Total interest income  $ 3,646  $ 3,673  $  14,474  $  14,646
Total interest expense 620 774 2,638 3,338
         
Net interest income 3,026 2,899 11,836 11,308
Provision for loan losses 474 421 1,080 1,980
Net interest income after provision for loan losses 2,552 2,478 10,756 9,328
         
Total non-interest income 1,473 1,277 5,327 4,758
Total non-interest expense 3,159 2,840 11,871 11,424
         
Income before income taxes 866 915 4,212 2,662
Income tax expense 285 202 1,609  754
         
Net income  $  581  $   713  $ 2,603  $ 1,908
         
Net income per share, basic  $ 0.27 $ 0.29  $ 1.12  $  0.75
Average common shares outstanding, basic 2,182,482 2,489,375   2,332,940 2,528,618
Net income per share, diluted  $ 0.26 $ 0.28  $ 1.09  $  0.75
Average common shares outstanding, diluted   2,255,498 2,503,611   2,387,007 2,553,253
         
Performance ratios:        
Return on average assets (annualized) 0.79%  1.00% 0.89% 0.67%
Return on average equity (annualized) 4.79 5.66 5.23 3.80
Interest rate spread 4.22 4.15 4.15 4.04
Net interest margin 4.42 4.40 4.36 4.30
  AS OF AS OF
  DECEMBER 31, 2012 DECEMBER 31,2011
FINANCIAL CONDITION DATA:    
Total assets  $ 291,632  $  283,716
Gross loans 221,750    208,865
Allowance for loan losses 4,475   4,166
Deposits  234,248   224,112
Securities sold under agreements to repurchase  2,110   2,265
Total liabilities  243,628  233,166
Stockholders' equity   48,004  50,550
     
Non-performing assets:    
Non-accrual loans  $ 3,870   $ 3,254
Accruing loans past due 90 days 28    45
Foreclosed real estate 509  526
Other non-performing assets 37   11
     
Troubled debt restructurings (1)  $     5,270  $ 6,808
     
Asset quality ratios:    
Allowance for loan losses as a percent of total gross loans 2.02%  1.99%
Allowance for loan losses as a percent of non-performing loans 114.80  126.28 
Non-performing loans as a percent of total loans 1.76 1.58 
Non-performing loans as a percent of total assets 1.34 1.16 
Non-performing assets and troubled debt restructurings as a percentage of total assets 3.17 3.52 
     
Regulatory capital ratios (Bank only):    
Total capital (to risk-weighted assets) 21.33% 21.96%
Tier 1 capital (to risk-weighted assets) 20.07 20.69 
Tier 1 capital (to adjusted total assets) 13.43 14.13 
 
(1)    Troubled debt restructurings include $419,000 and $670,000 in non-accrual loans at December 31, 2012 and December 31, 2011, respectively, which are also included in non-accrual loans at the respective dates.
CONTACT: Athens Bancshares Corporation         Jeffrey L. Cunningham         President and CEO         423-745-1111

Michael R. Hutsell

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