Peoples Federal Bancshares, Inc. Announces Second Quarter And Year To Date Results For Fiscal Year 2013

BRIGHTON, Mass., April 29, 2013 (GLOBE NEWSWIRE) -- Peoples Federal Bancshares, Inc. (the "Company") (Nasdaq:PEOP), the holding company for Peoples Federal Savings Bank (the "Bank"), announced second quarter and year to date earnings for the fiscal year ending September 30, 2013. For the quarter ended March 31, 2013, the Company reported net income of $545,000 or $0.09 per share, basic and diluted, as compared to net income of $588,000 or $0.09 per share, basic and diluted, for the same period last year and net income of $681,000, or $0.11 per share, basic and diluted, for the quarter ended December 31, 2012. For the six months ended March 31, 2013, the Company reported net income of $1.2 million or $0.20 per share, basic and diluted, as compared to net income of $1.4 million or $0.22 per share, basic and diluted, for the same period last year.

For the quarters ended March 31, 2013 and 2012, net interest and dividend income totaled $4.1 million and $4.2 million, respectively. Non-interest income totaled $488,000 for the quarter ended March 31, 2013, as compared to $375,000 for the quarter ended March 31, 2012. Non-interest expense totaled $3.6 million for both the quarter ended March 31, 2013 and the quarter ended March 31, 2012.

For the six-month periods ended March 31, 2013 and 2012, net interest and dividend income totaled $8.3 million and $8.5 million, respectively. Non-interest income totaled $980,000 for the six-months ended March 31, 2013, as compared to $828,000 for the six months ended March 31, 2012. Non-interest expense totaled $7.0 million for the six months ended March 31, 2013, as compared to $6.9 million for the six months ended March 31, 2012, reflecting higher salaries and employee benefits offset by a decrease in other expense.

On a linked basis, the Company's second quarter fiscal 2013 net interest and dividend income decreased $200,000, or 4.7%, to $4.1 million from $4.3 million for the first fiscal quarter ended December 31, 2012, reflecting continued net interest margin compression during the current quarter. Non-interest income for the second quarter of fiscal 2013 decreased slightly to $488,000 from $492,000 for the first fiscal quarter ended December 31, 2012. Non-interest expense increased $126,000, or 3.7%, for the second quarter of fiscal 2013 compared to the first fiscal quarter ended December 31, 2012. 

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