Contact: Nelson L. Person
President & CEO
Tel. (724) 478-6101

FOR IMMEDIATE RELEASE

Apollo, PA-January 19, 2022: Apollo Bancorp, Inc. (OTC Pink: APLO) the parent company of Apollo Trust Company reported net income for the quarter ended December 31, 2021 of $458,000, or $0.88 per share, compared with fourth quarter 2020 earnings of $483,000, or $0.92 per share. The Company recorded an increase in noninterest expense of $103,000 compared with fourth quarter 2020 offset by an increase in noninterest income of $61,000. Net interest income increased $8,000 compared with the fourth quarter 2020.

Net income for the year ended December 31, 2021 totaled $1,901,000 resulting in a return on average assets (ROA) of 1.08% and return on average equity (ROE) of 8.45%. Net income for 2020 totaled $1,740,000, or 1.06% ROA and 8.06% ROE. Earnings per share totaled $3.66 for 2021 compared with $3.35 for 2020. The change in earnings for 2021 compared with 2020 was the result of a $327,000 increase in noninterest income offset by a $121,000 increase in noninterest expense. Total assets of the bank holding company were $181 million as of December 31, 2021 compared with $167 million for 2020. Loan balances increased 7% during 2021 to $141 million. Retail deposits were $157 million as of December 31, 2021.

Apollo Bancorp, Inc. common stock is traded Over-the-Counter on OTC Pink under the symbol APLO. Recent trades and current bid-ask prices may be viewed at www.otcmarkets.com

Apollo Trust Company operates six banking locations in the Alle-Kiski Valley and a loan office in the Fox Chapel area of Pittsburgh. It also provides fiduciary services and investment management.

More information is available at the Company's website: www.apollotrust.com

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Apollo Bancorp Inc. published this content on 19 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2022 14:31:08 UTC.