New Castle News

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February 4, 2013

ESB Financial posts record 2012 earnings

NEW CASTLE — ESB Financial Corp., the parent company of ESB Bank, has announced record earnings for the fourth consecutive year.

According to an announcement by the company, earnings of $1.03 per diluted share were recorded on net income of $14.9 million for the year ended Dec. 31.

This represented a 1 percent increase in net income per diluted share as compared to earnings of $1.02 per diluted share on net income of $14.9 million for the year ended Dec. 31, 2011.

For the three months ended Dec. 31, the company announced earnings of 24 cents per diluted share on net income of $3.5 million, which represents a 14.3 percent increase in net income per diluted share as compared to earnings of 21 cents per diluted share on net income of $3 million for the quarter ended Dec. 31, 2011.

Commenting on the quarter and yearend results, Charlotte A. Zuschlag, president and chief executive officer of ESB, said, “These results make 2012 the fourth consecutive year that the company has reported record earnings.”

Zuschlag noted 2012 “continued to present challenges to ESB Bank and the entire banking industry. As interest rates remained low, banks experienced more pressure to their net interest margins.”

The company also announced its annual meeting of stockholders will begin at 4 p.m. April 17 at the Connoquenessing Country Club in Ellwood City.

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