First Bancorp of Indiana Inc. reported unaudited consolidated financial results for the fourth quarter and full year ended June 30, 2013. The company reported earnings of $353,000 for the quarter ended June 30, 2013, compared to net income of $243,000 in the same quarter last year. Tax adjustments for prior periods reduced last year's comparative quarter by $64,000. Interest income was $3,218,000 against $3,392,000 for the same period of last year. Net interest income was $2,363,000 against $2,286,000 for the same period of last year. Income before income taxes and cumulative effect of a change in accounting principle was $348,000 against $305,000 for the same period of last year.

For the fiscal year ended June 30, 2013, the company recognized net income of $1.6 million versus $1.1 million the preceding fiscal year. Fiscal 2013 earnings represented $0.92 per average outstanding share, an increase of $0.29. Net interest income improved 4.1% in fiscal 2013 as reduced funding costs compensated for lower yields on loans and investments. Interest income was $13,086,000 against $13,697,000 for the same period of last year. Net interest income was $9,367,000 against $8,998,000 for the same period of last year. Income before income taxes and cumulative effect of a change in accounting principle was $1,631,000 against $1,188,000 for the same period of last year.