For the Three Months Ended December 31,
|
For the Six Months Ended December 31,
| |||||||||||||||
2021
|
2020
|
2021
|
2020
| |||||||||||||
(unaudited)
| ||||||||||||||||
Interest and dividend income
|
$
|
6,306
|
$
|
6,238
|
$
|
12,557
|
$
|
12,503
| ||||||||
Interest expense
|
627
|
1,188
|
1,306
|
2,565
| ||||||||||||
Net interest income
|
5,679
|
5,050
|
11,251
|
9,938
| ||||||||||||
Provision (credit) for loan losses
|
(76
|
)
|
(49
|
)
|
(203
|
)
|
266
| |||||||||
Net interest income after provision for loan losses
|
5,755
|
5,099
|
11,454
|
9,672
| ||||||||||||
Non-interest income
|
1,440
|
1,463
|
2,985
|
3,214
| ||||||||||||
Non-interest expense
|
4,862
|
4,528
|
9,552
|
9,009
| ||||||||||||
Income before taxes
|
2,333
|
2,034
|
4,887
|
3,877
| ||||||||||||
Income tax expense
|
629
|
571
|
1,292
|
1,083
| ||||||||||||
Net income (loss)
|
$
|
1,704
|
$
|
1,463
|
$
|
3,595
|
$
|
2,794
| ||||||||
Earnings (loss) per share (1) | ||||||||||||||||
Basic
|
$
|
0.56
|
$
|
0.48
|
$
|
1.17
|
$
|
0.92
| ||||||||
Diluted
|
$
|
0.54
|
$
|
0.48
|
$
|
1.15
|
$
|
0.91
| ||||||||
Weighted average shares outstanding (1)
| ||||||||||||||||
Basic
|
3,069,686
|
3,035,898
|
3,060,153
|
3,033,492
| ||||||||||||
Diluted
|
3,138,636
|
3,072,496
|
3,126,295
|
3,057,633
| ||||||||||||
footnotes on following page
|
For the Six Months Ended December 31, 2021 |
For the Year Ended June 30, 2021 | |||||||
(unaudited)
| ||||||||
Return on average assets
|
0.93
|
%
|
0.72
|
%
| ||||
Return on average equity
|
8.31
|
%
|
6.34
|
%
| ||||
Net interest margin on average interest earning assets
|
3.03
|
%
|
2.86
|
%
|
At
December 31, 2021
|
At
June 30, 2021
| |||||||
(unaudited)
| ||||||||
Assets
|
$
|
772,572
|
$
|
797,341
| ||||
Cash and cash equivalents
|
33,587
|
62,735
| ||||||
Investment securities
|
213,069
|
189,891
| ||||||
Net loans receivable
|
491,776
|
513,371
| ||||||
Deposits
|
642,227
|
667,632
| ||||||
Federal Home Loan Bank borrowings, repurchase agreements and other borrowings
|
31,935
|
31,245
| ||||||
Total stockholders' equity
|
86,494
|
85,304
| ||||||
Book value per share (2)
|
26.55
|
26.33
| ||||||
Average stockholders' equity to average total assets
|
11.21
|
%
|
11.40
|
%
|
At
December 31, 2020
|
At
June 30, 2021
| |||||||
(unaudited)
| ||||||||
Non-performing assets (3)
|
$
|
434
|
$
|
411
| ||||
Allowance for loan losses
|
6,395
|
6,599
| ||||||
Non-performing assets to total assets
|
0.06
|
%
|
0.05
|
%
| ||||
Allowance for losses to total loans
|
1.28
|
%
|
1.27
|
%
| ||||
Allowance for losses to total loans excluding PPP loans (4)
|
1.30
|
%
|
1.32
|
%
|
(1)
|
Shares outstanding do not include ESOP shares not committed for release.
|
(2)
|
Total stockholders' equity divided by shares outstanding of 3,257,876 at December 31, 2021, and 3,240,376 at June 30, 2021.
|
(3)
|
Non-performing assets include non-accrual loans, loans past due 90 days or more and accruing, and foreclosed assets held for sale.
|
(4)
|
Paycheck Protection Program (PPP) loans are administered by the SBA and are fully guaranteed by the U.S. government.
|
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Disclaimer
IF Bancorp Inc. published this content on 31 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2022 21:34:03 UTC.