Consumers Bancorp Inc. reported consolidated financial results for the second quarter and half year ended December 31, 2013. For the quarter, total interest income was $3,411,000 against $3,370,000 a year ago. Net interest income was $3,165,000 against $3,053,000 a year ago. Income before income taxes was $943,000 against $947,000 a year ago. Net income was $755,000 or $0.28 per basic and diluted share against $747,000 or $0.36 per basic and diluted share a year ago. Earnings per share declined for the second fiscal quarter of 2014 as a result of the additional 655,668 outstanding shares issued for the rights offering that was completed in July 2013.

For the half year, total interest income was $6,699,000 against $6,677,000 a year ago. Net interest income was $6,198,000 against $6,034,000 a year ago. Income before income taxes was $1,689,000 against $1,700,000 a year ago. Net income was $1,376,000 or $0.52 per basic and diluted share against $1,362,000 or $0.66 per basic and diluted share a year ago. Return on average assets (annualized) was 0.76% against 0.79% a year ago. Return on average equity (annualized) was 7.36% against 9.46% a year ago. Book value to common share was $13.91 as on December 31, 2013 against $14.10 as on December 31, 2012. The return on average equity declined from the same period last year due to an $8.5 million increase in average equity mainly as a result of the $9.2 million in net proceeds from the rights offering that was completed in July 2013.