BANCORP REPORTS NET INCOME OF $128,000 OR $0.04 PER SHARE
THE FOURTH QUARTER OF 2009
CASTLE, Ind. (February 8, 2010) – Ameriana Bancorp (NASDAQ: ASBI), parent
company for Ameriana Bank, today announced results for the fourth quarter and
year ended December 31, 2009. The Company's profit for the fourth
quarter continued a positive earnings trend in the second half of the
fourth quarter, Ameriana reported net income of $128,000 or $0.04 per basic and
diluted share, compared with a net loss of $418,000 or $0.14 per basic and
diluted share for the fourth quarter of 2008. For the year ended
December 31, 2009, Ameriana's net loss was $264,000 or $0.09 per basic and
diluted share, compared with net income of $741,000 or $0.25 per basic and
diluted share in the same period last year.
earnings for the fourth quarter of 2009 primarily reflected the benefit of gains
on sales of securities and higher net interest income, which reflected a
continued improvement in net interest margin. These increases helped
offset a higher provision for loan losses for the quarter, additional
write-downs of other real estate owned ("OREO"), and a significant increase in
on the announcement, Jerome J. Gassen, President and Chief Executive Officer,
said, "As expected, 2009 was a tough year for banking, marked by an increase in
credit costs and reduced lending activity – both symptoms of the severe
recession that began in late 2008. Considering these challenges, we
are pleased with Ameriana's fundamental performance over the past year as we
maintained a reasonably stable loan portfolio in 2009, and as we returned to
profitability in the second half because of the strength of improved margins
along with strategic sales of investment securities.
Castle, IN 47362-1048
The following information was filed by Ameriana Bancorp (ASBI) on Tuesday, February 9, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: ASBI CIK: 855574 Form Type:10-K Annual Report Accession Number: 0001144204-10-017243 Submitted to the SEC: Wed Mar 31 2010 2:00:50 PM EST Accepted by the SEC: Wed Mar 31 2010 Period: Thursday, December 31, 2009 Industry: Savings Institution Federally Chartered