Community Investors Bancorp Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended Dec. 31, 2013
January 27, 2014 at 03:21 pm
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Community Investors Bancorp Inc. reported unaudited consolidated financial results for the second quarter and six months ended Dec. 31, 2013. For the quarter, total interest income was $1,280,000 against $1,283,000 for the same period of last year. Net interest income was $1,084,000 against $1,040,000 for the same period of last year. Earnings before income taxes was $104,000 against $200,000 for the same period of last year. Net income available for common shares was $76,000 or $0.10 per basic share against $99,000 or $0.13 per basic share for the same period of last year.
For the six moths, total interest income was $2,502,000 against $2,589,000 for the same period of last year. Net interest income was $2,107,000 against $2,085,000 for the same period of last year. Earnings before income taxes was $330,000 against $363,000 for the same period of last year. The company reported net earnings available to common shareholders of $230,000, or $0.29 per basic share for the six months ended December 31, 2013, representing an increase of $57,000, (32.9%), compared to the net earnings of $173,000, or $0.22 per basic share reported for the six months ended December 31, 2012. The increase in 2013 earnings reflects an increase in net interest income of $22,000 (1.1%) and a decrease in general, administrative and other expense of $88,000 (3.9%). Book value per common share outstanding was $13.32 against $13.50 for the same period of last year.
Community Investors Bancorp, Inc. is a holding company whose principal activity is the ownership and management of its wholly owned subsidiary, First Federal Community Bank of Bucyrus (Bank). The Bank is primarily engaged in providing a full range of banking and financial services to individual and corporate customers in northern Ohio. It provides personal banking and business banking services. Its deposit accounts include checking, savings, money market, Christmas club, health savings, certificates of deposit and individual retirement accounts. Its online services include online banking, bill pay, eStatements, mobile banking, remote deposit capture and cash management. It provides consumer loans, home equity loans, home equity line of credit, auto & RV loans, mortgage loans, construction loans and others. It also offers secured loans, credit cards, commercial investment real estate, construction loans, equipment financing, business loan applications and others.