First Bancorp of Indiana, Inc. Announces Financial Results
(firmenpresse) - EVANSVILLE, IN -- (Marketwire) -- 01/27/12 -- First Bancorp of Indiana, Inc. (OTCBB: FBPI), the holding company for First Federal Savings Bank, reported earnings of $360,000 for the quarter ended December 31, 2011, compared to net income of $380,000 in the same quarter last year. The quarter-over-quarter change was attributed in part to personnel expenses associated with an expansion of the business lending department. This investment partly offset an increase in net interest income associated with strong loan growth and lower funding costs. The Company recognized earnings of $667,000 through the first six months of fiscal 2012, up from $462,000 for the same period last year. The improved comparative year-to-date earnings were due largely to impairment charges on certain investment securities that reduced net income $330,000 in the first half of fiscal 2011 compared to just $21,000 so far this fiscal year. Such charges, which are presented as a reduction of noninterest income, do not represent realized losses and the eventual recovery of the total investment is possible.
At approximately 8.6%, First Federal's tier one capital ratio was well in excess of the five percent regulatory standard for "well-capitalized" financial institutions. The bank's other capital measurements also continue to comfortably exceed "well-capitalized" standards. In addition, First Bancorp paid a dividend of 15.5 cents per outstanding share for the fifteenth consecutive quarter.
Certain information in this press release may constitute forward-looking information that involves risks and uncertainties that could cause actual results to differ materially from those estimated. Persons are cautioned that such forward-looking statements are not guarantees of future performance and are subject to various factors that could cause actual results to differ materially from those estimated. Undue reliance should not be placed on such forward-looking statements.
CONTACT:
Michael H. Head
President and CEO
First Bancorp of Indiana
812-492-8100
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Datum: 27.01.2012 - 15:36 Uhr
Sprache: Deutsch
News-ID 1077276
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Commercial & Investment Banking
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