EX-99 3 ex99.txt PRESS RELEASE EUREKA FINANCIAL CORP. 3455 Forbes Avenue Pittsburgh, PA 15213-3253 Phone: (412) 681-8400 Fax: (412) 681-6625 www.eurekabancorp.com Contact: Edward F. Seserko President and CEO (412) 681-8400 For Immediate Release November 3, 2003 EUREKA FINANCIAL CORPORATION ANNOUNCES EARNINGS FOR THE FOURTH QUARTER AND YEAR ENDED SEPTEMBER 30, 2003 Pittsburgh, Pennsylvania - Eureka Financial Corporation, (the "Company"), Pittsburgh, Pennsylvania, announced earnings for the fourth quarter and year ended September 30, 2003. For the quarter ended September 30, 2003, the Company earned $185,000, or $.15 diluted earnings per share, as compared to earnings of $212,000, or $.17 diluted earnings per share, for the quarter ended September 30, 2002. For the year ended September 30, 2003, the Company earned $795,000, or $.63 diluted earnings per share, as compared to earnings of $834,000, or $.66 diluted earnings per share, for the year ended September 30, 2002. The Bank, founded in 1886, is a federally chartered stock savings bank and operates one office in the Oakland community of Pittsburgh. The Company's common stock trades on the electronic bulletin board under the symbol "EKFC." The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. EUREKA FINANCIAL CORPORATION Selected Financial Data (Dollars in thousands except per share data) -------------------------------------------- September 30, September 30, 2003 2002 --------------------------- Total assets $ 83,321 $ 79,266 Cash and investments 28,042 25,212 Loans receivable, net 53,288 52,142 Deposits 61,840 57,409 Total liabilities 64,250 60,125 Stockholders' equity $ 19,071 $ 19,141 Nonaccrual loans $ 377 $ 293 Repossessed real estate 0 0 Total nonperforming assets $ 377 $ 293 Allowance for loan losses to nonperforming loans 129.71% 165.53% Nonperforming loans to net loans 0.71% 0.56% Nonperforming loans to total assets 0.45% 0.37% Book value per share $ 15.55 $ 15.44 Number of common shares outstanding 1,226,538 1,239,318
Three Months Ended Year Ended September 30, September 30, ----------------- ----------------- 2003 2002 2003 2002 ------ ------ ------ ------ Interest income $1,190 $1,220 $4,699 $4,811 Interest expense 402 460 1,665 1,940 ------ ------ ------ ------ Net interest income 788 760 3,034 2,871 Provision for loan losses 10 15 10 60 ------ ------ ------ ------ Net interest income after provision for loan losses 778 745 3,024 2,811 Noninterest income 25 27 105 98 Noninterest expense 561 505 2,132 1,837 ------ ------ ------ ------ Income before income taxes 242 267 997 1,072 Income tax expense 57 55 202 238 ------ ------ ------ ------ Net income $ 185 $ 212 $ 795 $ 834 ====== ====== ====== ======