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October 31, 2013

ESB Financial sees earnings growth

NEW CASTLE — ESB Financial Corp. has announced earnings of 23 cents per diluted share for the quarter ended Sept. 30.

The parent firm of ESB Bank said the earnings were on net income of $4 million as compared to earnings of 22 cents per diluted share on net income of $3.9 million for the quarter ended Sept. 30, 2012.

This represents a 4.6 percent increase in net income per diluted share.

For the nine-month period ended Sept. 30, the company realized earnings of 66 cents per diluted share on net income of $11.6 million compared to earnings of 66 cents per diluted share on net income of $11.4 million for the same period in the prior year.

Charlotte A. Zuschlag, president and chief executive officer of the company, said, “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.

“We continue to experience growth in our core deposits which assists in reducing our cost of funds.”

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