Eureka Financial Corp. Announces Earnings for the Three and Nine Months Ended June 30, 2015

PITTSBURGH--()--Eureka Financial Corp., (the “Company”), the parent holding company for Eureka Bank (the “Bank”), Pittsburgh, Pennsylvania, today announced earnings for the three and nine months ended June 30, 2015. For the three months ended June 30, 2015, the Company reported net income of $391,000 or $0.34 diluted earnings per share, as compared to net income of $402,000, or $0.34 diluted earnings per share, for the three months ended June 30, 2014. For the nine months ended June 30, 2015, the Company reported net income of $1,144,000, or $0.98 diluted earnings per share, as compared to net income of $1,114,000, or $0.93 diluted earnings per share, for the nine months ended June 30, 2014.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in Pittsburgh. 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)

 
(Unaudited)
June 30, September 30,
2015 2014
 
Total assets $ 154,266 $ 152,187
Cash and investments 17,562 21,124
Loans receivable, net 133,130 128,030
Allowance for loan losses (1,431) (1,361)
Deposits 129,112 127,861
Total liabilities 130,882 129,493
Stockholders' equity $ 23,384 $ 22,694
 
Nonaccrual loans $ 302 $ 848
Repossessed assets 540 0
Total nonperforming assets $ 842 $ 848
 
Allowance for loan losses to loans receivable, net 1.07% 1.06%
Nonperforming loans to net loans 0.23% 0.66%
Nonperforming assets to total assets 0.55% 0.56%
Book value per share $ 19.37 $ 18.69
Number of common shares outstanding 1,207,408 1,213,986
 
   

(Unaudited)

(Unaudited)

Three Months Ended Nine Months Ended
   
June 30,   June 30, June 30,   June 30,
2015 2014 2015 2014
 
Interest income $ 1,714 $ 1,708 $ 5,187 $ 5,070
Interest expense 211 209 623 663
Net interest income 1,503 1,499 4,564 4,407
Provision for loan losses 10 25 70 50
 
Net interest income after provision for loan losses 1,493 1,474 4,494 4,357
Noninterest income 20 46 79 87
Noninterest expense 937 912 2,837 2,730
 
Income before income taxes 576 608 1,736 1,714
Income tax expense 185 206 592 600
 
Net income $ 391 $ 402

$

1,144 $ 1,114
 

Contacts

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

Eureka Financial Corp.