Eureka Financial Corp., (the “Company”), the parent holding company for
Eureka Bank (the Bank), Pittsburgh, Pennsylvania, today announced
earnings for the three and nine months ended June 30, 2012. For the
three months ended June 30, 2012, the Company reported net income of
$352,000, or $0.28 diluted earnings per share, as compared to net income
of $422,000, or $0.34 diluted earnings per share, for the three months
ended June 30, 2011. For the nine months ended June 30, 2012, the
Company reported net income of $1,131,000, or $0.90 diluted earnings per
share, as compared to net income of $964,000, or $0.75 diluted earnings
per share, for the nine months ended June 30, 2011. The changes in net
income reflected an increase in net interest income, due to an increase
in our loan portfolio, offset by an increase in non-interest expense and
income tax expense.
The Bank, founded in 1886, is a federally chartered stock savings bank
and operates two offices in Pittsburgh. The Company’s common stock
trades in the over-the-counter market under the symbol “EKFC.”
The foregoing material may contain forward-looking statements concerning
the financial condition, results of operations and business of the
Company. We caution that such statements are subject to a number of
uncertainties and actual results could differ materially and, therefore,
readers should not place undue reliance on any forward-looking
statements. The Company does not undertake, and specifically disclaims,
any obligation to publicly release the results of any revisions that may
be made to any forward-looking statements to reflect the occurrence of
anticipated or unanticipated events or circumstances after the date of
such statements.
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EUREKA FINANCIAL CORPORATION
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Selected Financial Data
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(Dollars in thousands except per share data)
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(Unaudited)
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(Unaudited)
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June 30,
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September 30,
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2012
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2011
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Total assets
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$
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144,371
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$
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137,515
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Cash and investments
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30,665
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28,988
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Loans receivable, net
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109,320
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104,456
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Allowance for loan losses
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(1,082)
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(1,000)
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Deposits
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119,772
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114,784
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Total liabilities
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121,642
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116,050
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Stockholders' equity
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$
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22,729
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$
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21,465
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Nonaccrual loans
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$
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38
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$
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22
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Repossessed assets
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100
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---
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Total nonperforming assets
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$
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138
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$
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22
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Allowance for loan losses to loans receivable, net
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0.99%
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0.96%
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Nonperforming loans to net loans
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0.03%
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0.02%
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Nonperforming assets to total assets
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0.10%
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0.02%
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Book value per share
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$
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17.00
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$
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16.33
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Number of common shares outstanding
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1,336,682
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1,314,705
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(Unaudited)
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(Unaudited)
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Three Months Ended
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Nine Months Ended
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March 31,
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June 30,
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March 31,
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June 30,
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2012
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2011
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2012
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2011
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Interest income
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$
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1,723
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$
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1,697
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$
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5,204
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$
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4,977
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Interest expense
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323
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416
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993
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1,353
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Net interest income
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1,400
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1,281
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4,211
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3,624
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Provision for loan losses
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32
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30
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82
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65
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Net interest income after provision for loan losses
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1,368
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1,251
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4,129
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3,559
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Noninterest income
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20
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24
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60
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59
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Noninterest expense
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819
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785
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2,365
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2,210
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Income before income taxes
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569
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490
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1,824
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1,408
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Income tax expense
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217
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68
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693
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444
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Net income
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$
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352
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$
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422
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$
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1,131
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$
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964
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Earnings Per Share - Basic and Diluted
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$
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0.28
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$
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0.34
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$
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0.90
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$
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0.75
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