Apollo Bancorp, Inc. Reports Earnings Results for the First Quarter Ended of March 31, 2017
Apollo Bancorp, Inc. reported earnings results for the first quarter ended of March 31, 2017. For the quarter, the company's net income was $326,000, or $0.63 per share, compared with first quarter 2016 earnings of $294,000, or $0.61 per share. Net interest income increased $140,000 compared with first quarter 2016 which was primarily the result of a $264,000 increase in interest earned on loans offset by a $103,000 decrease in interest from investment securities. Annualized return on average assets (ROA) of 0.79% and annualized return on average equity (ROE) of 6.50% were reported for first quarter 2017.