-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DZaAfIr/Bqpr0zc8/TWWtq97Zwnfj+LevEEU24Oc3qK3s5aJY74FoWNm2+ShDIHE laFmtL4+rrKnLR9F6K0C0A== 0000910647-05-000133.txt : 20050427 0000910647-05-000133.hdr.sgml : 20050427 20050427121730 ACCESSION NUMBER: 0000910647-05-000133 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050426 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050427 DATE AS OF CHANGE: 20050427 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASB FINANCIAL CORP /OH CENTRAL INDEX KEY: 0000944304 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 311429488 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25906 FILM NUMBER: 05775389 BUSINESS ADDRESS: STREET 1: 503 CHILLICOTHE ST CITY: PORTSMOUTH STATE: OH ZIP: 45662 BUSINESS PHONE: 6143543177 MAIL ADDRESS: STREET 1: 503 CHILLICTHE ST CITY: PORTSMOUTH STATE: OH ZIP: 45662 8-K 1 asb-8k2.txt FORM 8-K FOR APRIL 26, 2005 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 26, 2005 -------------- ASB Financial Corp. - ---------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Ohio 0-25906 31-1429488 - ---------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 503 Chillicothe Street, Portsmouth, Ohio 45662 - ---------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (740) 354-3177 -------------- - ---------------------------------------------------------------------------- (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Section 2 - Financial Information Item 2.02 Results of Operations and Financial Condition. - ---------------------------------------------------------- On April 26, 2005, ASB Financial Corp. issued a press release regarding its earnings for the quarter ended March 31, 2005. The press release is attached as Exhibit 99 hereto and is incorporated herein by reference. Section 9 - Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits. - ---------------------------------------------- (a) and (b). Not applicable. (c) Exhibits. See Index to Exhibits. SIGNATURES ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ASB FINANCIAL CORP. By: /s/ Robert M. Smith -------------------------------- Robert M. Smith President Date: April 26, 2005 INDEX TO EXHIBITS Exhibit Number Description - -------------- ----------- 99 Press Release of ASB Financial Corp. dated April 26, 2005 EX-99 2 asb2k-99.txt EXHIBIT 99 EXHIBIT 99 ---------- April 26, 2005 FOR IMMEDIATE RELEASE: CONTACT: Robert M. Smith, President or Michael L. Gampp, CFO ASB Financial Corp. 503 Chillicothe Street Portsmouth, Ohio 45662-4015 (740) 354-3177 ASB Financial Corp. Reports Net Earnings For The Nine and Three Months Ended March 31, 2005 Portsmouth, Ohio - ASB Financial Corp. (Nasdaq: "ASBP"), parent company of American Savings Bank, fsb, reported net earnings for the nine months ended March 31, 2005 of $1.5 million, or diluted earnings per share of $.90, a increase of $66,000, or 4.5%, from the $1.5 million, or $.85 per diluted share in net earnings recorded for the nine months ended March 31, 2004. The increase in net earnings for the nine month period ended March 31, 2005, was due primarily to a $146,000, or 3.3%, increase in net interest income, reflecting increases in interest earned on adjustable rate loans, and a $51,000, or 9.9%, increase in other income. This was partially offset by increases of $68,000, or 84.0%, in provision for losses on loans and $67,000, or 13.4% in the provision for federal income taxes. Net earnings for the three months ended March 31, 2005 amounted to $507,000, or diluted earnings per share of $.29, compared to net earnings of $450,000, or $.26 per diluted share for the comparable quarter in 2004. The increase in net earnings for the quarter ended March 31, 2005, was due primarily to a $92,000, or 68.6%, increase in other income and a $58,000, or 3.9%, increase in net interest income. This was partially offset by an increase of $26,000, or 2.6% in general, administrative and other expense and an increase of $66,000, or 42.6% in the provision for federal income taxes. At March 31, 2005, ASB Financial Corp. reported total assets of $176.6 million, total liabilities of $157.8 million, including deposits of $139.8 million, and shareholders' equity of $18.8 million. American Savings Bank, fsb, serving Portsmouth, Waverly and the Southern Ohio area was founded in 1892. ASB Financial Corp. CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (In thousands)
March 31, June 30, ASSETS 2005 2004 Cash and cash equivalents $ 7,644 $ 7,385 Investment securities 9,452 12,487 Mortgage-backed securities 10,430 11,768 Loans receivable 141,632 129,821 Other assets 7,454 4,910 -------- -------- Total assets $176,612 $166,371 ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY Deposits $139,832 $136,761 Borrowings 16,257 10,899 Other liabilities 1,717 1,287 -------- -------- Total liabilities 157,806 148,947 Shareholders' equity 18,806 17,424 -------- -------- Total liabilities and shareholders' equity $176,612 $166,371 ======== ========
ASB Financial Corp. CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (In thousands, except share data)
Nine months ended Three months ended March 31, March 31, 2005 2004 2005 2004 Total interest income $7,106 $6,710 $2,416 $2,293 Total interest expense 2,522 2,272 873 808 ------ ------ ------ ------ Net interest income 4,584 4,438 1,543 1,485 Provision for losses on loans 149 81 32 31 ------ ------ ------ ------ Net interest income after provision for losses on loans 4,435 4,357 1,511 1,454 Other income 566 515 226 134 General, administrative and other expense 2,905 2,909 1,009 983 ------ ------ ------ ------ Earnings before income taxes 2,096 1,963 728 605 Federal income taxes 568 501 221 155 ------ ------ ------ ------ NET EARNINGS $1,528 $1,462 $ 507 $ 450 ====== ====== ====== ====== EARNINGS PER SHARE Basic $ .90 $ .88 $ .30 $ .27 ====== ====== ====== ====== Diluted $ .90 $ .85 $ .29 $ .26 ====== ====== ====== ======
-----END PRIVACY-ENHANCED MESSAGE-----