Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - Eureka Financial Corp. | eureka8koct28-15.htm |
|
Contact: Edward F. Seserko
President and CEO
(412) 681-8400
For Immediate Release
October 26, 2015
|
EUREKA FINANCIAL CORP. ANNOUNCES FINANCIAL RESULTS
FOR THE QUARTER AND YEAR ENDED SEPTEMBER 30, 2015
Pittsburgh, Pennsylvania – Eureka Financial Corp., Pittsburgh, Pennsylvania (the “Company”), the parent company for Eureka Bank (the “Bank”), today announced net income for the three months ended September 30, 2015 of $172,000, or $0.15 diluted earnings per share, as compared to $415,000, or $0.35 diluted earnings per share, for the three months ended September 30, 2014. For the year ended September 30, 2015, the Company reported net income of $1.3 million, or $1.13 diluted earnings per share, as compared to net income of $1.5 million, or $1.28 diluted earnings per share, for the fiscal year ended September 30, 2014. The decrease in income for the quarter and year ended September 30, 2015 was primarily due to approximately $260,000 in merger related expenses attributed to the upcoming merger with NexTier, Inc.
The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in the city of 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)
|
||||||||
|
September 30,
|
September 30,
|
|||||||
|
2015
|
2014
|
|||||||
|
(Unaudited)
|
||||||||
|
Total assets
|
$ | 155,016 | $ | 152,059 | ||||
|
Cash and investments
|
16,348 | 21,124 | ||||||
|
Loans receivable, net
|
135,064 | 128,111 | ||||||
|
Allowance for loan losses
|
(1,346 | ) | (1,361 | ) | ||||
|
Deposits
|
129,656 | 127,861 | ||||||
|
Total liabilities
|
131,312 | 129,365 | ||||||
|
Stockholders' equity
|
23,704 | 22,694 | ||||||
|
Nonaccrual loans
|
$ | 302 | $ | 848 | ||||
|
Repossessed assets
|
594 | 0 | ||||||
|
Total nonperforming assets
|
$ | 896 | $ | 848 | ||||
|
Allowance for loan losses to nonperforming loans
|
445.70 | % | 160.50 | % | ||||
|
Nonperforming loans to net loans
|
0.22 | % | 0.66 | % | ||||
|
Nonperforming assets to total assets
|
0.58 | % | 0.56 | % | ||||
|
Book value per share
|
$ | 19.63 | $ | 18.69 | ||||
|
Number of common shares outstanding
|
1,207,408 | 1,213,986 | ||||||
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
|
Three Months Ended
|
Twelve Months Ended
|
|||||||||||||||
| September 30, | September 30, | |||||||||||||||
|
2015
|
2014
|
2015
|
2014
|
|||||||||||||
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
|
Interest income
|
$ | 1,751 | $ | 1,743 | $ | 6,938 | $ | 6,813 | ||||||||
|
Interest expense
|
212 | 206 | 835 | 869 | ||||||||||||
|
Net interest income
|
1,539 | 1,537 | 6,103 | 5,944 | ||||||||||||
|
Provision for loan losses
|
0 | 12 | 70 | 62 | ||||||||||||
|
Net interest income after provision for loan losses
|
1,539 | 1,525 | 6,033 | 5,882 | ||||||||||||
|
Noninterest income
|
4 | 14 | 83 | 101 | ||||||||||||
|
Noninterest expense
|
1,223 | 923 | 4,060 | 3,653 | ||||||||||||
|
Income before income taxes
|
320 | 616 | 2,056 | 2,330 | ||||||||||||
|
Income tax expense
|
148 | 201 | 740 | 801 | ||||||||||||
|
Net income
|
$ | 172 | $ | 415 | $ | 1,316 | $ | 1,529 | ||||||||
|
Earnings Per Share - Basic
|
$ | 0.15 | $ | 0.36 | $ | 1.13 | $ | 1.29 | ||||||||
|
Earnings Per Share - Diluted
|
$ | 0.15 | $ | 0.35 | $ | 1.13 | $ | 1.28 | ||||||||