Community Investors Bancorp, Inc. reported unaudited consolidated earnings results for the first quarter ended September 30, 2014. For the quarter, the company reported net income available to common shareholders of $227,000, or $0.29 per basic share, representing an increase of $73,000, or 47.4%, compared to the net earnings of $154,000, or $0.19 per basic share, reported for the quarter ended September 30, 2013. The increase in 2014 earnings reflects an increase in net interest income of $205,000 or 20.1% and an increase in other income of $53,000 or 13.8%.

This was partially offset by an increase in general, administrative and other expense of $116,000 or 10.8% and an increase in provision for loan loss of $31,000 or 27.9%. The increase in net interest income reflects the growth in the loan portfolio, some improvement in nonaccruals as well as continuing low deposit and borrowing rates. Total interest income was $1,395,000 against $1,221,000 a year ago.

Net interest income was $1,227,000 against $1,022,000 a year ago. Net interest income after provision for loan losses was $1,085,000 against $911,000 a year ago. Earnings before income taxes was $336,000 against $225,000 a year ago.