Apollo Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2018
Apollo Bancorp, Inc. reported earnings results for the fourth quarter and year ended December 31, 2018. Net income for the quarter ended December 31, 2018 was $252,000, or $0.49 per share, compared with fourth quarter 2017 earnings of $830,000, or $1.59 per share. Net interest income increased $70,000 compared with fourth quarter 2017 primarily due to a $200,000 increase in interest earned on loans offset by a $78,000 decrease in interest on investment securities.
Net income for the year ended December 31, 2018 totaled $1,437,000. Net income for 2017 totaled $1,903,000. Earnings per share totaled $2.77 for 2018 compared with $3.63 for 2017.