Consumers Bancorp, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023
January 19, 2024 at 09:15 am
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Consumers Bancorp, Inc. reported earnings results for the second quarter and six months ended December 31, 2023. For the second quarter, the company reported net interest income was USD 7.96 million compared to USD 8.78 million a year ago. Net income was USD 2.02 million compared to USD 2.81 million a year ago. Basic earnings per share from continuing operations was USD 0.65 compared to USD 0.91 a year ago.
For the six months, net interest income was USD 16.12 million compared to USD 17.17 million a year ago. Net income was USD 4.43 million compared to USD 5.34 million a year ago. Basic earnings per share from continuing operations was USD 1.43 compared to USD 1.74 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.