Consumers Bancorp Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2011
January 26, 2012 at 10:09 am
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Consumers Bancorp Inc. reported consolidated earnings results for the second quarter and six months ended December 31, 2011. For the quarter, the company reported basic and diluted earnings per share of $0.39 compared to $0.28 for the same period ended December 31, 2010. Net income for the quarter was $0.79 million compared with $0.57 million a year ago. Total interest income was $3.3 million compared with $3.2 million a year ago. Net interest income was $2.9 million compared with $2.7 million a year ago. Income before income taxes was $1.05 million compared with $0.74 million a year ago. As on December 31, 2011, the company's book value to common share was $13.08.
For the six months, the company's net income was $1.5 million compared to $1.2 million for the same period last year. Basic and diluted earnings per share increased by 22.0% to $0.72 compared to $0.59 for the same period last year. Return on average assets and return on average equity for the period were 0.95% and 11.27%, respectively, compared to 0.88% and 9.85%, respectively, for the same period last year. Total interest income was $6.6 million compared with $6.4 million a year ago. Net interest income was $5.8 million compared with $5.4 million a year ago. Income before income taxes was $1.9 million compared with $1.6 million a year ago.
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. 
