Great American Bancorp, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
October 18, 2021
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Great American Bancorp, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported net interest income was USD 1.08 million compared to USD 1.23 million a year ago. Net loss was USD 0.032 million compared to net income of USD 0.435 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to basic earnings per share from continuing operations of USD 1.04 a year ago. Diluted loss per share from continuing operations was USD 0.08 compared to diluted earnings per share from continuing operations of USD 1.04 a year ago.
For the nine months, net interest income was USD 3.34 million compared to USD 3.78 million a year ago. Net income was USD 0.317 million compared to USD 1 million a year ago. Basic earnings per share from continuing operations was USD 0.77 compared to USD 2.38 a year ago. Diluted earnings per share from continuing operations was USD 0.77 compared to USD 2.38 a year ago.
Great American Bancorp, Inc. is a thrift holding company. The Company's principal activity is the ownership and management of its wholly owned subsidiary, First Federal Savings Bank of Champaign-Urbana (the Bank). The Bank is primarily engaged in providing a full range of banking and financial services to individual and corporate customers in Champaign County, Illinois. The Bank also provides full-service brokerage activities through a third-party broker-dealer and engages in the sale of tax-deferred annuities. The Bankâs subsidiary, Park Avenue Service Corporation (PASC), offers insurance services to customers located primarily in Illinois. GTPS Insurance Agency, a division of PASC, sells a variety of insurance products to both individuals and businesses, including life, health, auto, property and casualty insurance. It grants mortgage, commercial and consumer loans to customers. The Bank operates through two full-service offices located in Champaign and Urbana, Illinois.