Albion Banc Corp. announces second quarter earnings.ALBION, N.Y.--(BUSINESS WIRE)--Aug. 2, 1995--Albion Banc Corp. Wednesday announced second quarter earnings. The company reported net income of $70,108 and earnings per share of 28 cents for the second quarter of 1995. During the same period in 1994, the company had net income of $128,920 and earnings per share of 51 cents. For the first six months of 1995, the company reported net income of $132,241 and earnings per share of 52 cents. This compares to net income of $215,047 and earnings per share of 86 cents for the same period in 1994. Total assets increased to $59,996,635 at June 30, 1995 from $55,333,910 at Dec. 31, 1994, an 8.4% increase. Deposits increased to $44,925,407 or 18.9% at June 30, 1995 from $37,782,038 at Dec. 31, 1994. Total loans decreased 5.4% to $44,692,396 at June 30, 1995 from $47,234,130 at Dec. 31, 1994. Consolidated stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. of the company totaled $5,976,395 at June 30, 1995, which produces a book value of $22.92 per share. The company's 10.0% ratio of equity capital to assets reflects the company's very solid capital position. Albion Banc Corp. is the parent company of Albion Federal Savings and Loan Association Federal Savings and Loan Association An institution chartered by the federal government whose primary function is to collect savings deposits and to provide mortgage loans. , a federally chartered savings and loan association savings and loan association, type of financial institution that was originally created to accept savings from private investors and to provide home mortgage services for the public. The first U.S. savings and loan association was founded in 1831. . The company is listed on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Small Cap Exchange under the symbol ALBC ALBC American Livestock Breeds Conservancy ALBC Antibiotic-Loaded Bone Cement (orthopedic surgery) ALBC Abraham Lincoln Bicentennial Commission . CONTACT: Albion Banc Corp., Albion Jeffrey S. Rheinwald, 716/589-5501 |
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