Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - Eureka Financial Corp. | eureka8kapril22-15.htm |
|
Contact: Edward F. Seserko
President and CEO
(412) 681-8400
For Immediate Release
April 22, 2015
|
EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE THREE AND SIX MONTHS ENDED MARCH 31, 2015
Pittsburgh, Pennsylvania – Eureka Financial Corp., (the “Company”), the parent holding company for Eureka Bank (the “Bank”), Pittsburgh, Pennsylvania, today announced net income of $372,000, or $0.32 diluted earnings per share, for the three months ended March 31, 2015 as compared to net income of $346,000, or $0.29 diluted earnings per share, for the three months ended March 31, 2014. For the six months ended March 31, 2015, the Company reported net income of $752,000, or $0.64 diluted earnings per share, as compared to net income of $712,000, or $0.60 diluted earnings per share, for the six months ended March 31, 2014.
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.
|
EUREKA FINANCIAL CORPORATION
|
||||||||
|
Selected Financial Data
|
||||||||
|
(Dollars in thousands except per share data)
|
||||||||
|
(Unaudited)
|
||||||||
|
March 31,
|
September 30,
|
|||||||
|
2015
|
2014
|
|||||||
|
Total assets
|
$ | 155,307 | $ | 152,187 | ||||
|
Cash and investments
|
20,412 | 21,124 | ||||||
|
Loans receivable, net
|
131,543 | 128,030 | ||||||
|
Allowance for loan losses
|
(1,421 | ) | (1,361 | ) | ||||
|
Deposits
|
130,999 | 127,861 | ||||||
|
Total liabilities
|
132,145 | 129,493 | ||||||
|
Stockholders' equity
|
$ | 23,162 | $ | 22,694 | ||||
|
Nonaccrual loans
|
$ | 338 | $ | 848 | ||||
|
Repossessed assets
|
497 | 0 | ||||||
|
Total nonperforming assets
|
$ | 835 | $ | 848 | ||||
|
Allowance for loan losses to loans receivable, net
|
1.08 | % | 1.06 | % | ||||
|
Nonperforming loans to net loans
|
0.26 | % | 0.66 | % | ||||
|
Nonperforming assets to total assets
|
0.54 | % | 0.56 | % | ||||
|
Book value per share
|
$ | 19.18 | $ | 18.69 | ||||
|
Number of common shares outstanding
|
1,207,460 | 1,213,986 | ||||||
|
(Unaudited)
Three Months Ended
March 31, |
(Unaudited)
Six Months Ended
March 31,
|
|||||||||||||||
|
2015
|
2014
|
2015
|
2014
|
|||||||||||||
|
Interest income
|
$ | 1,735 | $ | 1,685 | $ | 3,473 | $ | 3,362 | ||||||||
|
Interest expense
|
206 | 212 | 412 | 454 | ||||||||||||
|
Net interest income
|
1,529 | 1,473 | 3,061 | 2,908 | ||||||||||||
|
Provision for loan losses
|
30 | 15 | 60 | 25 | ||||||||||||
|
Net interest income after provision for loan losses
|
1,499 | 1,458 | 3,001 | 2,883 | ||||||||||||
|
Noninterest income
|
34 | 16 | 58 | 41 | ||||||||||||
|
Noninterest expense
|
962 | 939 | 1,900 | 1,818 | ||||||||||||
|
Income before income taxes
|
571 | 535 | 1,159 | 1,106 | ||||||||||||
|
Income tax expense
|
199 | 189 | 407 | 394 | ||||||||||||
|
Net income
|
$ | 372 | $ | 346 | $ | 752 | $ | 712 | ||||||||
|
Earnings per share
|
$ | 0.32 | $ | 0.29 | $ | 0.64 | $ | 0.60 | ||||||||