Essa Bancorp, Inc. Reports Consolidated Unaudited Earnings Results for the First Quarter Ended December 31, 2012
January 23, 2013 at 04:30 pm EST
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Essa Bancorp, Inc. reported consolidated unaudited earnings results for the first quarter ended December 31, 2012. The company reported net income of $2.9 million or $0.24 per diluted share for the three months ended December 31, 2012 compared with net income of $886,000 or $0.08 per diluted share for the corresponding 2011 period. Net interest income increased $4.0 million, or 59.8%, to $10.7 million for the three months ended December 31, 2012, from $6.7 million for the comparable period in the prior year fiscal quarter, primarily reflecting $2.9 million growth in interest income, and a decrease in interest expense from other borrowings of $1.2 million.
Income before income taxes was $4.240 million against $1.070 million a year ago.
ESSA Bancorp, Inc. is a holding company for ESSA Bank & Trust (the Bank). The Bank is a chartered savings bank. The Bank has two regional offices in Allentown and Devon, and operates 21 community offices throughout the greater Pocono, Lehigh Valley, Scranton/Wilkes-Barre and suburban Philadelphia areas. The Bankâs primary business consists of the taking of deposits and granting of loans to customers generally in Monroe, Northampton, Lehigh, Delaware, Chester, Montgomery, Lackawanna and Luzerne Counties, Pennsylvania. Its personal banking services include personal checking, personal savings, certificates of deposit, money market account, individual retirement accounts (IRAs), online banking, mobile banking, mobile deposit, online bill pay, e-statements, Zelle, Debit Mastercard and others. Its business banking services include business checking, IOLTA checking, government checking, commercial and industrial loans, commercial real estate loans, government financing and credit and others.