New Castle News

Local News

July 18, 2013

ESB Financial reports increase in earnings

NEW CASTLE — ESB Financial Corp., parent company of ESB Bank, has announced an increase in earnings for the quarter ended June 30.

The company said earnings were 22 cents per diluted share on net income of $3.9 million, as compared to earnings of 21 cents per diluted share on net income of $3.7 million for the quarter ended June 30, 2012.

That represents a 4.8 percent increase in net income per diluted share.

For the six-month period ended June 30, the company realized earnings of 43 cents per diluted share on net income of $7.6 million, compared to earnings of 43 cents per diluted share on net income of $7.5 million for the same period in the prior year.

“We have been successful and prudent in managing our net interest rate margin during this difficult interest rate environment while protecting our asset quality and our future earnings potential,” said Charlotte A. Zuschlag, president and chief executive officer of ESB Financial.

“We continue to experience growth in our core deposits, which assists in reducing our cost of funds. Our deposits have grown $32.7 million, or 2.8 percent, since December 2012.”

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