Business News • MarketWire • First Bancorp of Indiana, Inc. Announces Financial Results |
First Bancorp of Indiana, Inc. Announces Financial Results |
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First Bancorp of Indiana, Inc. Announces Financial Results
EVANSVILLE, IN--(Marketwire - January 22, 2010) - First Bancorp of Indiana, Inc. (OTCBB: FBPI), the holding company for First Federal Savings Bank, reported
earnings of $350,000 for the quarter ended December 31, 2009, compared to
net income of $429,000 in the same quarter last year. Through the first
six months of fiscal 2010 earnings decreased slightly to $855,000 from
$887,000 for the same period in fiscal 2009. The lower comparative
earnings, both for the quarterly and year-to-date periods, were attributed,
in part, to increased provisions for loan losses. In addition,
significantly higher FDIC insurance premiums partly offset greater
noninterest income. FDIC insurance expenses totaling $237,000 were
recorded in the first half fiscal 2010 compared to $68,000 for the same
period the preceding year. The current year-to-date results have further
strengthened First Federal's tier one capital ratio from 8.40% to
ap
View More : http://www.marketwire.com/mw/release.do?id=1106077&sourceType=3
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