ESSA Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2014; Reports Net Loan Charge Offs for the First Quarter of 2015
January 28, 2015 at 04:30 pm
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ESSA Bancorp, Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2014. For the quarter, the company reported total interest income of $13,708,000 compared to total interest income of $12,182,000 for the same period a year ago. Net interest income was $11,050,000 compared to $9,491,000 last year. Income before income taxes was $3,448,000 compared to $2,620,000 last year. Net income was $2,596,000 or $0.25 per basic and diluted share compared to $2,004,000 or $0.18 per basic and diluted share last year. Tangible book value per share at December 31, 2014 increased to $13.72 compared with $13.34 at December 31, 2013. Return on average assets was 0.66% compared to 0.59% last year. Return on average equity was 6.06% compared with 4.77% last year.
The company reported net loan charge-offs for the first quarter of 2015. Net loan charge-offs were $568,000 compared to $445,000 in fiscal first quarter 2014.
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.
ESSA Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2014; Reports Net Loan Charge Offs for the First Quarter of 2015