Community Investors Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2015
January 20, 2016 at 11:28 am EST
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Community Investors Bancorp, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2015. For the quarter, the company reported total interest income of $1.466 million against $1.403 million a year ago. Net interest income was $1.308 million against $1.237 million a year ago. Earnings before income taxes were $0.403 million against $0.174 million a year ago. Net income was $0.275 million or $0.35 per basic share against $0.119 million or $0.15 per basic share a year ago.
For the six months, the company reported net earnings available to common shareholders of $563,000, or $0.71 per common share for the six months ended December 31, 2015, representing an increase of $216,000, (62.2%), compared to the net earnings of $347,000, or $0.44 per common share reported for the six months ended December 31, 2014. The increase in 2015 earnings reflects an increase in net interest income of $135,000 (5.5%) and an increase in other income of $146,000 (18.8%). Total interest income was $2.897 million against $2.798 million a year ago. Net interest income was $2.599 million against $2.464 million a year ago. Earnings before income taxes were $0.829 million against $0.511 million a year ago.
Community Investors Bancorp, Inc. is a holding company whose principal activity is the ownership and management of its wholly owned subsidiary, First Federal Community Bank of Bucyrus (Bank). The Bank is primarily engaged in providing a full range of banking and financial services to individual and corporate customers in northern Ohio. It provides personal banking and business banking services. Its deposit accounts include checking, savings, money market, Christmas club, health savings, certificates of deposit and individual retirement accounts. Its online services include online banking, bill pay, eStatements, mobile banking, remote deposit capture and cash management. It provides consumer loans, home equity loans, home equity line of credit, auto & RV loans, mortgage loans, construction loans and others. It also offers secured loans, credit cards, commercial investment real estate, construction loans, equipment financing, business loan applications and others.