EX-99.1 2 eureka8kjan22-15release.htm eureka8kjan22-15release.htm
Contact:   Edward F. Seserko

    President and CEO
    (412) 681-8400

     For Immediate Release
     January 22, 2015


EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE THREE MONTHS ENDED DECEMBER 31, 2014

Pittsburgh, Pennsylvania – Eureka Financial Corp., (the “Company”), the parent holding company for Eureka Bank (the “Bank”), Pittsburgh, Pennsylvania, today announced net income for the three months ended December 31, 2014 of $380,000, or $0.32 diluted earnings per share, as compared to net income of $366,000, or $0.31 diluted earnings per share, for the three months ended December 31, 2013.  The increase in net income was primarily attributable to an increase in net interest income partially offset by an increase in non-interest expense.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in the Pittsburgh metropolitan area.  The Company’s common stock trades in the over-the-counter market 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)
 
             
   
December 31,
   
September 30,
 
   
2014
   
2014
 
   
(Unaudited)
 
             
Total assets
  $ 154,451     $ 152,059  
Cash and investments
    22,837       21,124  
Loans receivable, net
    128,758       128,111  
Allowance for loan losses
    (1,391 )     (1,361 )
Deposits
    129,437       127,861  
Total liabilities
    131,402       129,365  
Stockholders' equity
  $ 23,049     $ 22,694  
                 
Nonaccrual loans
  $ 762     $ 848  
Repossessed assets
    0       0  
Total nonperforming assets
  $ 762     $ 848  
                 
Allowance for loan losses to nonperforming loans
    182.55 %     160.50 %
Nonperforming loans to net loans
    0.59 %     0.66 %
Nonperforming assets to total assets
    0.49 %     0.56 %
Book value per share
  $ 19.01     $ 18.69  
Number of common shares outstanding
    1,212,210       1,213,986  
                 
                 
                 
   
Three Months Ended
December 31,
(Unaudited)
 
                 
      2014       2013  
                 
Interest income
  $ 1,738     $ 1,677  
Interest expense
    206       242  
  Net interest income
    1,532       1,435  
Provision for loan losses
    30       10  
                 
Net interest income after provision for loan losses
    1,502       1,425  
Noninterest income
    25       25  
Noninterest expense
    939       879  
                 
Income before income taxes
    588       571  
Income tax expense
    208       205  
                 
Net income
  $ 380     $ 366