Ameriana Reports Higher Second Quarter EPS.Business Editors NEW CASTLE, Ind IND Investigational new drug Therapeutics A status assigned by the FDA to a drug before allowing its use in humans, exempting it from premarketing approval requirements so that experimental clinical trials may be conducted. See Phase 1.2, 3 studies, Sponsorship. .--(BUSINESS WIRE)--Aug. 3, 2000 Ameriana Bancorp (The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. : ASBI ASBI American Segmental Bridge Institute ) today announced results for the second quarter and six months ended June June: see month. 30, 2000. For the second quarter, net income per share increased 12% to $.28 on 3.1 million average shares outstanding compared with $.25 on 3.4 million average shares outstanding for the same period last year. Net income for the second quarter of 2000 totaled $876,000 versus $861,000 last year. Net interest income was $3,163,000 compared with $3,080,000 in the year-earlier period, while the provision for loan losses amounted to $109,000 versus $30,000 in the same quarter last year. For the first half of 2000, net income per share increased 29% to $.62 on 3.1 million average shares outstanding compared with $.48 on 3.5 million average shares outstanding for the same period last year. Net income for the first six months of 2000 totaled $1,941,000 versus $1,658,000 last year. Net interest income was $6,279,000 compared with $6,133,000 in the year-earlier period, while the provision for loan losses amounted to $179,000 versus $68,000 in the same period last year. Commenting on the results, Harry J. Bailey, President and Chief Executive Officer, said, "We are pleased with Ameriana's continued growth in earnings over the course of the second quarter and first half of this year. These improvements reflect both higher income from fees, tax-advantaged investments and other sources, which have offset lower gains on sales of loans and increased costs associated with the opening a new branch location in December December: see month. 1999. Our continued progress over the balance of 2000 will depend to a large extent on the impact that interest rate hikes - past and potential - have on our future lending volume and the yield on our interest-earning assets." This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the federal securities laws. Statements in this release that are not strictly historical are forward-looking for·ward-look·ing adj. Concerned with or making provision for the future: forward-looking educators; a forward-looking corporate plan. Adj. 1. and are based upon current expectations that may differ materially from actual results. These forward-looking statements, identified by the word "will," involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. These risks and uncertainties involve general economic trends and changes in interest rates, increased competition, changes in consumer demand for financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , the possibility of unforeseen events affecting the industry generally, and the uncertainties associated with newly developed or acquired operations. The Company undertakes no obligation to release revisions to these forward-looking statements publicly to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" or to reflect the occurrence of unforeseen events, except as required to be reported to be spoken of; to be mentioned, whether favorably or unfavorably. See also: Report under the rules and regulations of the Securities and Exchange Commission. Ameriana Bancorp is a bank holding company. Through its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Ameriana Bank and Trust of Indiana Indiana, state, United States Indiana, midwestern state in the N central United States. It is bordered by Lake Michigan and the state of Michigan (N), Ohio (E), Kentucky, across the Ohio R. (S), and Illinois (W). and Ameriana Bank of Ohio, the Company offers an extensive line of banking services and provides a range of investments and securities products through branches in central Indiana and in the greater Cincinnati, Ohio “Cincinnati” redirects here. For other uses, see Cincinnati (disambiguation). Cincinnati is a city in the U.S. state of Ohio and the county seat of Hamilton County. area. As its name implies, Ameriana Bank and Trust of Indiana also offers trust and investment management services and has an interest in a life insurance company. In addition to these financial services, Ameriana Bancorp offers title insurance through Indiana Title Insurance Company and owns Ameriana Insurance Agency, a full-service full-ser·vice adj. Associated with or offering complete service: full-service gasoline pumps; full-service banks. insurance agency.
AMERIANA BANCORP
Unaudited Financial Highlights
(In thousands, except per share amounts)
Three Months Ended Six Months Ended
June 30 June 30
---------------- -----------------
2000 1999 2000 1999
------ ------ ------- -------
Interest income $9,152 $6,882 $17,654 $13,769
Interest expense 5,989 3,802 11,375 7,636
------ ------ ------- -------
Net interest income 3,163 3,080 6,279 6,133
Provision for loan losses 109 30 179 68
------ ------ ------- -------
Net interest income after
provision for loan losses 3,054 3,050 6,100 6,065
Other income 857 771 1,955 1,551
Other expense 2,748 2,560 5,438 5,144
------ ------ ------- -------
Income before income taxes 1,163 1,261 2,617 2,472
Income taxes 287 400 676 815
------ ------ ------- -------
Net income $876 $861 $1,941 $1,658
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Earnings per share:
Basic $0.28 $0.25 $0.62 $0.48
Diluted $0.28 $0.25 $0.62 $0.48
Weighted average shares:
Basic 3,147 3,419 3,146 3,455
Diluted 3,147 3,446 3,146 3,485
Dividends declared per share $0.15 $0.15 $0.30 $0.30
June 30 Dec. 31
2000 1999
-------- --------
Total assets $530,912 $486,349
Cash and other investments 106,817 113,508
Loans and mortgage-backed securities, net 391,104 340,447
Deposits 365,678 355,759
Shareholders' equity 41,033 40,029
Book value per share 13.04 12.72
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