Consumers Bancorp Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2012
January 31, 2013 at 04:15 pm EST
Share
Consumers Bancorp Inc. reported consolidated earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported total interest income of $3,370,000 compared to $3,300,000 a year ago. Net interest income was $3,053,000 against $2,919,000 a year ago. Income before income taxes was $947,000 against $1,049,000 a year ago. Net income was $747,000 or $0.36 basic and diluted earnings per share against $791,000 or $0.39 basic and diluted earnings per share a year ago.
For the six months, the company reported total interest income of $6,677,000 compared to $6,576,000 a year ago. Net interest income was $6,034,000 against $5,794,000 a year ago. Income before income taxes was $1,700,000 against $1,942,000 a year ago. Net income was $1,362,000 or $0.66 basic and diluted earnings per share against $1,478,000 or $0.72 basic and diluted earnings per share a year ago. Return on average assets (annualized) was 0.79% compared to 0.95% a year ago. Return on average equity (annualized) was 9.46% compared to 11.27% a year ago. Book value to common share as on December 31, 2012 was $14.10 compared to $13.08 as of December 31, 2011.
Consumers Bancorp, Inc. is a bank holding company for Consumers National Bank (the Bank). The Company is engaged in the business of commercial and retail banking. The Bankâs business involves attracting deposits from businesses and individual customers and using such deposits to originate commercial, mortgage and consumer loans in its primary market area. The Bank also invests in securities consisting primarily of United States government-sponsored entities, municipal obligations, mortgage-backed and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac and Ginnie Mae. Its deposit products include business and personal savings accounts, negotiable order of withdrawal accounts, time deposits and demand accounts, as well as certificates of deposit. The Bankâs primary market area includes Carroll, Columbiana, Jefferson, Mahoning, Stark, Summit, Wayne, and contiguous counties in Ohio, Pennsylvania, and West Virginia. The Bank operates online and 21 branch locations.
CONSUMERS BANCORP, INC. 
