SFSB Inc. Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2011
SFSB Inc. reported audited consolidated earnings results for the year ended December 31, 2011. For the year, the company reported total interest income of $8,588,000 compared to $9,920,000 a year ago. Net interest income was $4,904,000 compared to $5,428,000 a year ago. Net interest income after provision for loan losses was $514,000 compared to $5,129,000 a year ago. Loss before income tax expense was $5,148,000 compared to income before income tax benefit of $902,000 a year ago. Net loss was $3,043,000 or $1.14 basic and diluted per share compared to net income of $549,000 or $0.21 basic and diluted per share a year ago. Net cash provided by operating activities was $1,360,000 compared to $981,000 a year ago. Purchases of premises and equipment were $81,000 compared to $22,000 a year ago.