KS Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017
January 26, 2018 at 09:17 pm
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KS Bancorp, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company announced total interest and dividend income was $4,018,000 compared to $3,570,000 for the same period a year ago. Net interest income was $3,215,000 compared to $2,861,000 for the same period a year ago. Income before income taxes was $1,188,000 compared to $943,000 for the same period a year ago. Net income was $5,000 compared to $610,000 for the same period a year ago.
For the full year, the company announced total interest and dividend income was $15,278,000 compared to $14,014,000 for the same period a year ago. Net interest income was $12,247,000 compared to $11,225,000 for the same period a year ago. Income before income taxes was $4,253,000 compared to $3,279,000 for the same period a year ago. Net income was $2,059,000 compared to $2,109,000 for the same period a year ago. Basic and diluted earnings per share were $1.57 compared to $1.61 for the same period a year ago.
KS Bancorp, Inc. is a bank holding company. The Company offers a range of personal and business banking products and services, mortgage products and trust services. The Company operates through its subsidiary, KS Bank, Inc. (the Bank), which conducts its operations through nine full-service branch offices in Kenly, Goldsboro, Wilson, Garner, Selma, Clayton, Wendell, Four Oaks and Smithfield, North Carolina, as well as a loan production office in Dunn. KS Personal Services offers a complete suite of deposit and loan products that are tailored to specific needs, while KS Business Services includes deposit and loan products, payroll services (through Flex Pay), merchant card services, cash management and remote deposit. KS Mortgage Services offers mortgage products through a team of mortgage specialists. Its Trust Services Division offers a complete line of trust services, such as money management, individual retirement accounts (IRAs), trust administration and estate administration.