First Bancorp of Indiana, Inc. Announces Financial Results
Net interest income for quarter ended September 30, 2019, improved 6.5% from the same quarter last fiscal year as the net loan portfolio grew $13.5 million, or 4.7%, over the intervening 12 months. Noninterest income was modestly lower than the year-ago quarter as increased earnings from sales of single-family residential mortgage loans was offset by reduced service charge revenue. Compensation and data processing expenses were largely responsible for the 3.3% increase in noninterest expenses between the comparative quarters.
At approximately 8.3%, First Federal's tier one leverage 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.