KS Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Twelve Months Ended December 31, 2013
January 28, 2014 at 05:41 pm
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KS Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and twelve months ended December 31, 2013. For the quarter, net income available to common shareholders was $153,000, or $0.12 per diluted share, compared to $126,000, or $0.10 per diluted share, for the three months ended December 31, 2012. Net interest income was $2.5 million for the three months ended December 31, 2013 and December 31, 2012. Income before income taxes was $305,000 against $216,000 a year ago.
For the twelve months, net income available to common shareholders was $788,000, or $0.60 per diluted share, compared to $531,000, or $0.41 per diluted share, for the twelve months ended December 31, 2012. Net interest income was $9.6 million, compared to $9.8 million for the twelve months ended December 31, 2012. Income before income taxes was $1,315,000 against $764,000 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.