FLORENCE, Ore.--(BUSINESS WIRE)--Siuslaw Financial Group (OTCBB:SFGP) and its subsidiary, Siuslaw Bank, reported total assets of $352.4 million at the end of the fourth quarter of 2013, representing a 10% increase compared to $319.8 million reported in December 2012. Net loans were reported at $236.5 million and deposits of $304.3 million. These totals represent increases of 7.9% and 11.9%, respectively.
The company reported consolidated net income of $761 thousand, or $0.18 per share, compared to the fourth quarter 2012 of $931 thousand, or $0.23 per share. Year to date after tax earnings were $3.090 million in 2013, compared to $3.390 million in 2012.
The company’s return on average shareholder equity (ROAE) is a respectable 8.55%, higher than many of the bank’s peers. A $0.05 per share quarterly cash dividend to common shareholders and a $0.0525 cash dividend to preferred shareholders was paid in December. The dividend is consistent with the company’s policy of declaring dividends from current earnings.
Headquartered in Florence, Siuslaw Financial Group is the parent company of Siuslaw Bank, with offices in Cottage Grove, Creswell, Eugene, Florence, Mapleton, Oakridge, Pleasant Hill, Springfield and Veneta, all in Lane County.
Siuslaw Financial Group, Inc.
|Selected Financial Highlights|
|(In Thousands, Except Per Share Data)|
|December 2013||December 2012|
|Income Statement Data||Year-To-Date||Year-To-Date|
|Total Interest Income||12,598||12,981|
|Total Interest Expense||755||917|
|Net Interest Income||11,843||12,064|
|Loan Loss Provision||550||930|
|Net Interest Income After Loan Loss||11,293||11,134|
|Income Before Taxes||3,556||4,241|
|Provision for Taxes||466||851|
|YTD Earnings Per Share||0.75||0.83|
|Book Value Per Share||8.95||8.51|
|Balance Sheet Data|
|Investment Securities AFS||13,985||18,361|
|Cash & Due From Accounts||75,950||56,611|
Total Shareholders’ Equity
|YTD Return on Average Assets (ROAA)||0.89%||1.04%|
|YTD Return on Average Equity (ROAE)||8.55%||9.80%|