Eureka Financial Corp. Announces Earnings for the Three Months Ended December 31, 2014

PITTSBURGH--()--Eureka Financial Corp., (the “Company”), the parent holding company for Eureka Bank (the “Bank”), Pittsburgh, Pennsylvania, today announced net income for the three months ended December 31, 2014 of $380,000, or $0.32 diluted earnings per share, as compared to net income of $366,000, or $0.31 diluted earnings per share, for the three months ended December 31, 2013. The increase in net income was primarily attributable to an increase in net interest income partially offset by an increase in non-interest expense.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in the Pittsburgh metropolitan area. The Company’s common stock trades in the over-the-counter market under the symbol “EKFC.”

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

     
EUREKA FINANCIAL CORPORATION
Selected Financial Data

(Dollars in thousands except per share data)

     
December 31, September 30,
2014 2014
(Unaudited)
 
Total assets $ 154,451 $ 152,059
Cash and investments 22,837 21,124
Loans receivable, net 128,758 128,111
Allowance for loan losses (1,391) (1,361)
Deposits 129,437 127,861
Total liabilities 131,402 129,365
Stockholders' equity $ 23,049 $ 22,694
 
Nonaccrual loans $ 762 $ 848
Repossessed assets   0   0
Total nonperforming assets $ 762 $ 848
 
Allowance for loan losses to nonperforming loans 182.55% 160.50%
Nonperforming loans to net loans 0.59% 0.66%
Nonperforming assets to total assets 0.49% 0.56%
Book value per share $ 19.01 $ 18.69
Number of common shares outstanding 1,212,210 1,213,986
 
 
 
Three Months Ended

December 31,

(Unaudited)

2014 2013
 
Interest income $ 1,738 $ 1,677
Interest expense   206   242
Net interest income 1,532 1,435
Provision for loan losses   30   10
 
Net interest income after provision for loan losses 1,502 1,425
Noninterest income 25 25
Noninterest expense   939   879
 
Income before income taxes 588 571
Income tax expense   208   205
 
Net income $ 380 $ 366
 

Contacts

Eureka Financial Corp.
Edward F. Seserko
President and CEO
(412) 681-8400

Contacts

Eureka Financial Corp.
Edward F. Seserko
President and CEO
(412) 681-8400