Maryland
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001-34593
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27-1898270
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||
(State or Other Jurisdiction
of Incorporation)
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(Commission File No.)
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(I.R.S. Employer
Identification No.)
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20300 Seneca Meadows Parkway, Germantown, Maryland
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20876
|
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(Address of Principal Executive Offices)
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(Zip Code)
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[ ]
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.02.
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Results of Operations and Financial Condition.
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Item 9.01
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Financial Statements and Exhibits
|
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(a)
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Not applicable
|
|
(b)
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Not applicable
|
|
(c)
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Not applicable
|
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(d)
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Exhibits
|
|
Exhibit No.
|
Description
|
|
99.1
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Press release dated April 25, 2013
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OBA Financial Services, Inc.
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||
DATE: April 29, 2013
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By:
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/s/ David A. Miller
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David A. Miller
|
||
Senior Vice President and Chief Financial Officer
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Exhibit No.
|
Description
|
99.1
|
Press release dated April 25, 2013
|
OBA Financial Services, Inc.
|
||||||||||
FINANCIAL SUMMARY
|
|
|||||||||
(dollars in thousands, except per share data)
|
Three Months Ended
|
Three Months Ended
|
||||||||
March 31,
|
December 31,
|
|||||||||
2013
|
|
2012
|
% Change (2)
|
2012
|
% Change (2)
|
|||||
RESULTS OF OPERATIONS:
|
||||||||||
Net interest income
|
$ 3,424
|
|
$ 3,136
|
9.2%
|
$ 3,404
|
0.6%
|
|
|||
Provision for loan losses
|
229
|
270
|
(15.2)
|
(17)
|
|
-
|
||||
Non-interest income
|
243
|
168
|
44.6
|
175
|
38.9
|
|||||
Non-interest expense
|
3,021
|
2,938
|
2.8
|
2,908
|
3.9
|
|||||
Income before taxes
|
417
|
96
|
-
|
688
|
(39.4)
|
|||||
Income tax
|
180
|
76
|
136.8
|
291
|
|
(38.1)
|
||||
Net Income
|
237
|
20
|
-
|
397
|
(40.3)
|
|||||
SHARE DATA:
|
||||||||||
Basic earnings per share
|
$ 0.06
|
|
$ 0.01
|
-%
|
|
$ 0.10
|
(40.0)%
|
|
||
Diluted earnings per share
|
0.06
|
|
0.01
|
-
|
0.10
|
(40.0)
|
||||
Book value per common share(1)
|
17.67
|
|
17.14
|
3.1
|
17.59
|
0.5
|
||||
Tangible book value per common share(1)
|
17.67
|
17.14
|
3.1
|
17.59
|
0.5
|
|||||
Weighted average shares - basic
|
3,762,584
|
|
3,864,229
|
(2.6)
|
3,799,778
|
|
(1.0)
|
|||
Weighted average shares - diluted
|
3,881,893
|
|
3,884,532
|
(0.1)
|
3,871,539
|
|
0.3
|
|||
Common shares outstanding(1)
|
4,254,295
|
4,424,003
|
(3.8)
|
|
4,301,450
|
(1.1)
|
||||
SELECTED RATIOS:
|
||||||||||
Return on average assets
|
0.25
|
%
|
0.02
|
%
|
|
0.41
|
%
|
|||
Return on average equity
|
1.27
|
0.11
|
|
2.08
|
||||||
Net interest margin
|
3.93
|
3.63
|
|
3.80
|
||||||
Leverage ratio
|
19.35
|
|
19.22
|
|
|
19.72
|
||||
Tier I risk-based capital ratio
|
26.33
|
|
29.22
|
|
|
26.46
|
||||
Total risk-based capital ratio
|
27.51
|
|
30.26
|
|
|
27.56
|
||||
Allowance for loan losses to total loans
|
1.11
|
0.94
|
1.05
|
|||||||
Non-performing loans to total loans
|
1.45
|
2.13
|
2.00
|
|||||||
Non-performing assets to total assets
|
1.13
|
1.56
|
1.56
|
|||||||
END OF PERIOD BALANCES:
|
||||||||||
Investment securities
|
$ 42,766
|
|
$ 40,232
|
6.3%
|
|
$ 45,169
|
|
(5.3)%
|
|
|
Total loans
|
301,002
|
|
284,877
|
5.7
|
|
297,564
|
|
1.2
|
||
Earning assets
|
355,778
|
350,589
|
1.5
|
355,177
|
0.2
|
|||||
Assets
|
386,095
|
|
391,812
|
(1.5)
|
|
380,959
|
|
1.3
|
||
Deposits
|
279,874
|
|
257,960
|
8.5
|
|
266,653
|
|
5.0
|
||
Borrowings
|
28,462
|
55,304
|
(48.5)
|
36,727
|
(22.5)
|
|||||
Stockholders' equity
|
75,192
|
|
75,824
|
(0.8)
|
|
75,683
|
|
(0.6)
|
||
AVERAGE BALANCES:
|
|
|||||||||
Investment securities
|
$ 42,214
|
$ 40,906
|
3.2%
|
|
$ 46,910
|
(10.0)%
|
|
|||
Total loans
|
299,223
|
282,779
|
5.8
|
296,827
|
0.8
|
|||||
Earning assets
|
353,261
|
347,474
|
1.7
|
355,921
|
(0.7)
|
|||||
Assets
|
379,668
|
385,748
|
(1.6)
|
387,262
|
(2.0)
|
|||||
Deposits
|
266,096
|
254,160
|
4.7
|
269,326
|
(1.2)
|
|||||
Borrowings
|
35,919
|
53,901
|
(33.4)
|
39,515
|
(9.1)
|
|||||
Stockholders' equity
|
75,592
|
76,157
|
(0.7)
|
75,792
|
(0.3)
|
|||||
(1) Reflects the inclusion in common shares outstanding of previously granted and voting-eligible shares of restricted stock under the OBA Financial Services, Inc. 2011 Equity Incentive Plan.
|
||||||||||
(2) For percent change greater than 200%, change will not be shown.
|
||||||||||
OBA Financial Services, Inc.
|
||||||||||||
FINANCIAL SUMMARY
|
||||||||||||
(dollars in thousands, except per share data)
|
Nine Months Ended
|
|||||||||||
March 31,
|
||||||||||||
2013
|
2012
|
% Change (2)
|
||||||||||
RESULTS OF OPERATIONS:
|
||||||||||||
Net interest income
|
$ | 10,083 | $ | 9,152 | 10.2 | % | ||||||
Provision for loan losses
|
324 | 646 | (49.8 | ) | ||||||||
Non-interest income
|
618 | 551 | 12.2 | |||||||||
Non-interest expense
|
8,850 | 8,728 | 1.4 | |||||||||
Income before taxes
|
1,527 | 329 | - | |||||||||
Income tax
|
633 | 139 | - | |||||||||
Net Income
|
894 | 190 | - | |||||||||
SHARE DATA:
|
||||||||||||
Basic earnings per share
|
$ | 0.24 | $ | 0.05 | - | % | ||||||
Diluted earnings per share
|
0.23 | 0.05 | - | |||||||||
Book value per common share(1)
|
17.67 | 17.14 | 3.1 | |||||||||
Tangible book value per common share(1)
|
17.67 | 17.14 | 3.1 | |||||||||
Weighted average shares - basic
|
3,796,105 | 3,994,788 | (5.0 | ) | ||||||||
Weighted average shares - diluted
|
3,885,696 | 4,005,445 | (3.0 | ) | ||||||||
Common shares outstanding(1)
|
4,254,295 | 4,424,003 | (3.8 | ) | ||||||||
SELECTED RATIOS:
|
||||||||||||
Return on average assets
|
0.31 | % | 0.07 | % | ||||||||
Return on average equity
|
1.57 | 0.33 | ||||||||||
Net interest margin
|
3.78 | 3.58 | ||||||||||
Leverage ratio
|
19.35 | 19.22 | ||||||||||
Tier I risk-based capital ratio
|
26.33 | 29.22 | ||||||||||
Total risk-based capital ratio
|
27.51 | 30.26 | ||||||||||
Allowance for loan losses to total loans
|
1.11 | 0.94 | ||||||||||
Non-performing loans to total loans
|
1.45 | 2.13 | ||||||||||
Non-performing assets to total assets
|
1.13 | 1.56 | ||||||||||
END OF PERIOD BALANCES:
|
||||||||||||
Investment securities
|
$ | 42,766 | $ | 40,232 | 6.3 | % | ||||||
Total loans
|
301,002 | 284,877 | 5.7 | |||||||||
Earning assets
|
355,778 | 350,589 | 1.5 | |||||||||
Assets
|
386,095 | 391,812 | (1.5 | ) | ||||||||
Deposits
|
279,874 | 257,960 | 8.5 | |||||||||
Borrowings
|
28,462 | 55,304 | (48.5 | ) | ||||||||
Stockholders' equity
|
75,192 | 75,824 | (0.8 | ) | ||||||||
AVERAGE BALANCES:
|
||||||||||||
Investment securities
|
$ | 43,111 | $ | 38,328 | 12.5 | % | ||||||
Total loans
|
297,006 | 280,757 | 5.8 | |||||||||
Earning assets
|
355,616 | 339,818 | 4.6 | |||||||||
Assets
|
385,244 | 387,461 | (0.6 | ) | ||||||||
Deposits
|
268,704 | 258,719 | 3.9 | |||||||||
Borrowings
|
38,311 | 49,037 | (21.9 | ) | ||||||||
Stockholders' equity
|
75,721 | 77,769 | (2.6 | ) | ||||||||
(1) Reflects the inclusion in common shares outstanding of previously granted and voting-eligible shares of restricted stock under the OBA Financial Services, Inc. 2011 Equity Incentive Plan.
|
||||||||||||
(2) For percent change greater than 200%, change will not be shown.
|
||||||||||||