CCF Holding Company announces quarterly earnings for quarter ended December 31, 1995.JONESBORO, Ga.--(BUSINESS WIRE)--Jan. 17, 1996--CCF Holding Company, the holding company of Clayton County 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. , is pleased to announce earnings for the first quarter of fiscal year ending Sept. 30, 1996. The quarter ended Dec. 31, 1995 is the second period that CCF CCF abbr. Cooperative Commonwealth Federation of Canada Holding Company has operated as a public company. The public offering of its common stock ended on June 28, 1995 with the closing on July 11, 1995. Net income for the quarter was $184,175, up 34.4% from 1994 first quarter earnings of $137,061. Earnings were $0.17 per share. Per share earnings for the 1994 period were not applicable since Clayton County Federal did not convert from mutual to stock ownership until July 11, 1995. Total assets increased $11.7 million or 17.3%, from $67.8 million at Dec. 31, 1994 to $79.5 million at Dec. 31, 1995, due primarily to new purchases of investments and mortgage-backed securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. , as well as growth of the mortgage loan portfolio. Shareholders' Equity stood at $17.1 million or 21.6% of total assets compared to $6.3 million or 9.3% of total assets a year earlier, an increase of 12.2%. Interest income for the three months ended Dec. 31, 1995 was $1,382,000, which was 15.8% more than for the same three months ended Dec. 31, 1994. This increase was the result of continued earnings on investable funds obtained from the stock offering which ended June 28, 1995. President David Turner stated, "It remains our goal to maximize stockholder equity and to reward our stockholders with as high a return as possible. We are continuing to monitor our cost of savings and other operating expenses and to invest prudently." CCF Holding Company is the parent company of Clayton County Federal, 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. serving the southern market area of greater Atlanta. The association has three full-service branches in addition to the main office, which are all located in Clayton County, Georgia Clayton County is a county located in the U.S. state of Georgia. As of 2000, the population was 236,517. The 2006 Census estimate placed the population at 271,240 [1]. The county seat is Jonesboro6. . The company's common stock is traded 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 caps market under the symbol CCFH CCFH Codex Committee on Food Hygiene . CONTACT: CCF Holding Company, Jonesboro David B. Turner, Thomas L. Sawyer, 770/478-8881 |
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