First Bancorp of Indiana, Inc. Announces Financial Results
The Company recognized earnings of $1.2 million in the first half of fiscal 2019, nearly double the same period last fiscal year. Total interest income improved 13.1% thanks to net loan growth of $14.4 million over the past twelve months along with improved loan yields. Intense competition for deposits led to a 36.1% increase in total interest expense. Personnel costs and professional fees were the greatest contributors to the 4.6% reduction in noninterest expenses between the comparative six-month periods.
At 8.2%, First Federal's tier one capital ratio was well in excess of the five percent regulatory standard for "well-capitalized"
Certain information in this press release may constitute forward-looking information that involves risks and uncertainties that could cause actual results to differ materially from those estimated. Persons are cautioned that such forward-looking statements are not guarantees of future performance and are subject to various factors that could cause actual results to differ materially from those estimated. Undue reliance should not be placed on such forward-looking statements.