Attached files
| file | filename |
|---|---|
| 8-K/A - FORM 8-K/A - AJS Bancorp, Inc. | form8ka_72814.htm |
AJS Bancorp, Inc.
Selected Financial Information
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Selected Financial Condition Data
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June 30,
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December 31,
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2014
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2013
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(Unaudited)
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(Dollars in thousands)
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Total assets
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$ | 222,124 | $ | 220,926 | ||||
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Cash and cash equivalents
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25,653 | 22,281 | ||||||
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Securities available for sale
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61,695 | 63,804 | ||||||
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Bank owned life insurance
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5,609 | 5,511 | ||||||
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Loans held for sale
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1,203 | - | ||||||
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Loans, net
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116,363 | 119,146 | ||||||
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Deposits
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166,489 | 164,519 | ||||||
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Federal Home Loan Bank advances
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15,000 | 17,000 | ||||||
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Stockholders’ equity
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35,414 | 34,384 | ||||||
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Statements of Income
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Three Months Ended
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Six Months Ended
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June 30,
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June 30,
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2014
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2013
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2014
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2013
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(Unaudited)
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(Dollars in thousands, except per share amounts)
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Interest income
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$ | 1,425 | $ | 1,490 | 1 | $ | 2,900 | $ | 3,040 | |||||||||||
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Interest expense
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253 | 283 | 503 | 589 | ||||||||||||||||
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Net interest income
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1,172 | 1,207 | 2,397 | 2,451 | ||||||||||||||||
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Provision for loan losses
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480 | - | 480 | - | ||||||||||||||||
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Net interest income after provision for loan losses
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692 | 1,207 | 1,917 | 2,451 | ||||||||||||||||
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Total non-interest income
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184 | 197 | 388 | 419 | ||||||||||||||||
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Total non-interest expense
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1,288 | 1,159 | 2,489 | 2,365 | ||||||||||||||||
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Income (loss) before income taxes
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(412 | ) | 245 | (184 | ) | 505 | ||||||||||||||
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Income tax expense (benefit)
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(1,891 | ) | - | (1,891 | ) | - | ||||||||||||||
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Net income
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$ | 1,479 | $ | 245 | $ | 1,707 | $ | 505 | ||||||||||||
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Diluted earnings per share (1)
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$ | 0.66 | $ | 0.11 | $ | 0.76 | $ | 0.22 | ||||||||||||
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(1)
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Shares held by the public prior to October 9, 2013, have been restated to reflect the completion of the second-step conversion using an exchange ratio of 1.1460.
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AJS Bancorp, Inc.
Selected Financial Information
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Selected Financial Ratios
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Three Months Ended
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Six Months
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June 30,
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June 30,
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2014
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2013
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2014
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2013
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(Unaudited)
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Return on average assets (1)
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2.70 | % | 0.45 | % | 1.56 | % | 0.46 | % | ||||||||
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Return on average equity (2)
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17.13 | % | 4.29 | % | 9.89 | % | 4.42 | % | ||||||||
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Average interest-earning assets to average interest-bearing liabilities
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127.09 | % | 117.72 | % | 127.00 | % | 117.05 | % | ||||||||
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Interest rate spread
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2.17 | % | 2.30 | % | 2.22 | % | 2.34 | % | ||||||||
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Net interest margin
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2.31 | % | 2.40 | % | 2.36 | % | 2.44 | % | ||||||||
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(1)
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Return on average assets excluding the reversal of the DTA was (0.75)% and (0.17)% for the three and six months ended June 30, 2014, respectively.
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(2)
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Return on average equity excluding the reversal of the DTA was (4.77)% and (1.70)% for the three and six months ended June 30, 2014, respectively.
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June 30,
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December 31,
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2014
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2013
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(Unaudited)
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Asset Quality Ratios:
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Non-performing loans as a percent of total net loans
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2.74 | % | 2.72 | % | ||||
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Non-performing assets as a percent of total assets
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2.54 | % | 2.67 | % | ||||
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Allowance for loan losses as a percent of total net loans
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1.02 | % | 1.16 | % | ||||
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Allowance for loan losses as a percent of non-performing loans
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37.40 | % | 42.77 | % | ||||