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
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(b)
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Not applicable
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(c)
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Not applicable
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(d)
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Exhibits
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Exhibit No.
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Description
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99.1
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Press release dated August 13, 2013
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OBA Financial Services, Inc.
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DATE: August 14, 2013
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By:
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/s/ David A. Miller
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David A. Miller
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Senior Vice President and Chief Financial Officer
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Exhibit No.
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Description
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99.1
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Press release dated August 13, 2013
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·
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Non-performing loans to total loans decreased to 0.23% from 2.04% as of June 30, 2013 and 2012, respectively, and from 1.45% as of March 31, 2013.
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·
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Total commercial loans increased $25.4 million, or 14.9%, from June 30, 2012 to June 30, 2013. Total CRE loans increased $4.1 million, or 3.0%, to $140.1 million, total C&I loans increased $10.1 million, or 31.5%, to $42.3 million, and total construction loans increased $11.2 million to $13.0 million during the same period.
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·
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The net interest margin increased to 3.89% for the twelve months ended June 30, 2013 from 3.59% for the twelve months ended June 30, 2012.
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·
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The Company repurchased approximately 339 thousand shares of its common stock during the twelve months ended June 30, 2013.
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OBA Financial Services, Inc.
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FINANCIAL SUMMARY
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(dollars in thousands, except per share data)
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Three Months Ended
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Three Months Ended
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||||||||||||||||||
June 30,
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March 31,
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|||||||||||||||||||
2013
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2012
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% Change (2)
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2013
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% Change (2)
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||||||||||||||||
RESULTS OF OPERATIONS:
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Net interest income
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$ | 3,701 | $ | 3,157 | 17.2 | % | $ | 3,424 | 8.1 | % | ||||||||||
Provision for loan losses
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179 | 439 | (59.2 | ) | 229 | (21.8 | ) | |||||||||||||
Non-interest income, excluding gains (losses)
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155 | 209 | (25.8 | ) | 184 | (15.8 | ) | |||||||||||||
Net gains (losses)
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(465 | ) | (26 | ) | - | 59 | - | |||||||||||||
Non-interest expense
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2,913 | 2,777 | 4.9 | 3,021 | (3.6 | ) | ||||||||||||||
Income before taxes
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299 | 124 | 141.1 | 417 | (28.3 | ) | ||||||||||||||
Income tax
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71 | 46 | 54.3 | 180 | (60.6 | ) | ||||||||||||||
Net Income
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228 | 78 | 192.3 | 237 | (3.8 | ) | ||||||||||||||
SHARE DATA:
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||||||||||||||||||||
Basic earnings per share
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$ | 0.06 | $ | 0.02 | 200.0 | % | $ | 0.06 | - | % | ||||||||||
Diluted earnings per share
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0.06 | 0.02 | 200.0 | 0.06 | - | |||||||||||||||
Book value per common share(1)
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17.61 | 17.26 | 2.0 | 17.67 | (0.3 | ) | ||||||||||||||
Tangible book value per common share(1)
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17.61 | 17.26 | 2.0 | 17.67 | (0.3 | ) | ||||||||||||||
Net tangible book value per common share(1)
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17.60 | 17.07 | 3.1 | 17.51 | 0.5 | |||||||||||||||
Weighted average shares - basic (1)
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3,840,009 | 3,825,048 | 0.4 | 3,762,584 | 2.1 | |||||||||||||||
Weighted average shares - diluted (1)
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3,895,760 | 3,864,705 | 0.8 | 3,881,893 | 0.4 | |||||||||||||||
Common shares outstanding(1)
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4,048,436 | 4,387,050 | (7.7 | ) | 4,254,295 | (4.8 | ) | |||||||||||||
SELECTED RATIOS:
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||||||||||||||||||||
Return on average assets
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0.24 | % | 0.08 |
%
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0.25 |
%
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Return on average equity
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1.24 | 0.41 | 1.27 | |||||||||||||||||
Net interest margin
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4.23 | 3.62 | 3.93 | |||||||||||||||||
Leverage ratio
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18.67 | 19.17 | 19.35 | |||||||||||||||||
Tier I risk-based capital ratio
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24.45 | 27.93 | 24.96 | |||||||||||||||||
Total risk-based capital ratio
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25.64 | 29.06 | 26.09 | |||||||||||||||||
Allowance for loan losses to total loans
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1.15 | 1.02 | 1.11 | |||||||||||||||||
Non-performing loans to total loans
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0.23 | 2.04 | 1.45 | |||||||||||||||||
Non-performing assets to total assets
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0.18 | 1.55 | 1.13 | |||||||||||||||||
END OF PERIOD BALANCES:
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Investment securities
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$ | 38,619 | $ | 36,850 | 4.8 | % | $ | 42,766 | (9.7 | ) % | ||||||||||
Total loans
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303,276 | 296,241 | 2.4 | 301,002 | 0.8 | |||||||||||||||
Earning assets
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350,328 | 361,359 | (3.1 | ) | 355,778 | (1.5 | ) | |||||||||||||
Assets
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381,611 | 392,086 | (2.7 | ) | 386,095 | (1.2 | ) | |||||||||||||
Deposits
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283,263 | 269,572 | 5.1 | 279,874 | 1.2 | |||||||||||||||
Borrowings
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24,167 | 43,431 | (44.4 | ) | 28,462 | (15.1 | ) | |||||||||||||
Stockholders' equity
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71,304 | 75,715 | (5.8 | ) | 75,192 | (5.2 | ) | |||||||||||||
AVERAGE BALANCES:
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Investment securities
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$ | 40,291 | $ | 37,497 | 7.5 | % | $ | 42,214 | (4.6 | ) % | ||||||||||
Total loans
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298,841 | 286,425 | 4.3 | 299,223 | (0.1 | ) | ||||||||||||||
Earning assets
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351,019 | 350,406 | 0.2 | 353,261 | (0.6 | ) | ||||||||||||||
Assets
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385,268 | 389,599 | (1.1 | ) | 379,668 | 1.5 | ||||||||||||||
Deposits
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282,090 | 261,790 | 7.8 | 266,096 | 6.0 | |||||||||||||||
Borrowings
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27,009 | 50,006 | (46.0 | ) | 35,919 | (24.8 | ) | |||||||||||||
Stockholders' equity
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73,973 | 75,981 | (2.6 | ) | 75,592 | (2.1 | ) | |||||||||||||
(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.
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(2) For percent change greater than 200%, change will not be shown.
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OBA Financial Services, Inc.
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|||||||||||||
FINANCIAL SUMMARY
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(dollars in thousands, except per share data)
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Twelve Months Ended
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||||||||||||
June 30, | |||||||||||||
2013
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2012
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% Change (2)
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RESULTS OF OPERATIONS:
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Net interest income
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$ | 13,784 | $ | 12,309 | 12.0 |
%
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Provision for loan losses
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503 | 1,085 | (53.6 | ) | |||||||||
Non-interest income, excluding gains (losses)
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738 | 819 | (9.9 | ) | |||||||||
Net gains (losses)
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(430 | ) | (85 | ) | - | ||||||||
Non-interest expense
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11,763 | 11,505 | 2.2 | ||||||||||
Income before taxes
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1,826 | 453 | - | ||||||||||
Income tax
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704 | 185 | - | ||||||||||
Net Income
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1,122 | 268 | - | ||||||||||
SHARE DATA:
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Basic earnings per share
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$ | 0.28 | $ | 0.07 | - |
%
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Diluted earnings per share
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0.28 | 0.07 | - | ||||||||||
Book value per common share(1)
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17.61 | 17.26 | 2.0 | ||||||||||
Tangible book value per common share(1)
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17.61 | 17.26 | 2.0 | ||||||||||
Net tangible book value per common share(1)
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17.60 | 17.07 | 3.1 | ||||||||||
Weighted average shares - basic (1)
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3,958,451 | 3,952,585 | 0.1 | ||||||||||
Weighted average shares - diluted (1)
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3,996,588 | 3,971,102 | 0.6 | ||||||||||
Common shares outstanding(1)
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4,048,436 | 4,387,050 | (7.7 | ) | |||||||||
SELECTED RATIOS:
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Return on average assets
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0.29 | % | 0.07 | % | |||||||||
Return on average equity
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1.49 | 0.35 | |||||||||||
Net interest margin
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3.89 | 3.59 | |||||||||||
Leverage ratio
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18.67 | 19.17 | |||||||||||
Tier I risk-based capital ratio
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24.45 | 27.93 | |||||||||||
Total risk-based capital ratio
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25.64 | 29.06 | |||||||||||
Allowance for loan losses to total loans
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1.15 | 1.02 | |||||||||||
Non-performing loans to total loans
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0.23 | 2.04 | |||||||||||
Non-performing assets to total assets
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0.18 | 1.55 | |||||||||||
END OF PERIOD BALANCES:
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Investment securities
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$ | 38,619 | $ | 36,850 | 4.8 |
%
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Total loans
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303,276 | 296,241 | 2.4 | ||||||||||
Earning assets
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350,328 | 361,359 | (3.1 | ) | |||||||||
Assets
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381,611 | 392,086 | (2.7 | ) | |||||||||
Deposits
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283,263 | 269,572 | 5.1 | ||||||||||
Borrowings
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24,167 | 43,431 | (44.4 | ) | |||||||||
Stockholders' equity
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71,304 | 75,715 | (5.8 | ) | |||||||||
AVERAGE BALANCES:
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Investment securities
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$ | 42,408 | $ | 38,121 | 11.2 |
%
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Total loans
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297,463 | 282,166 | 5.4 | ||||||||||
Earning assets
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354,470 | 342,450 | 3.5 | ||||||||||
Assets
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385,250 | 387,993 | (0.7 | ) | |||||||||
Deposits
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272,041 | 259,483 | 4.8 | ||||||||||
Borrowings
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35,493 | 49,278 | (28.0 | ) | |||||||||
Stockholders' equity
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75,285 | 77,325 | (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.
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(2) For percent change greater than 200%, change will not be shown.
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