PSBH » Topics » Net Interest Income

This excerpt taken from the PSBH 8-K filed Aug 6, 2008.

Net Interest Income

Net interest income for the fiscal year ended June 30, 2008 was $11.9 million, an increase of $1.3 million, or 12.5%, over the fiscal year ended June 30, 2007. This was primarily due to an increase in the net interest margin. The net interest margin for the fiscal year ended June 30, 2008 was 2.56% as compared to 2.34% for the fiscal year ended June 30, 2007. Average interest-earning assets increased $12.7 million, or 2.8%, to $462.7 million for the fiscal year ended June 30, 2008 from $450.0 million for the fiscal year ended June 30, 2007. The yield on average interest-earning assets increased twenty two basis points to 5.86% for the fiscal year ended June 30, 2008 as compared to 5.64% for the fiscal year ended June 30, 2007. Average interest-bearing liabilities increased by $14.5 million, or 3.8%, to $396.3 million for the fiscal year ended June 30, 2008 from $381.8 million for the fiscal year ended June 30, 2007. The cost of average interest-bearing liabilities decreased four basis points to 3.84% for the fiscal year ended June 30, 2008 as compared to 3.88% for the fiscal year ended June 30, 2007.

This excerpt taken from the PSBH 8-K filed Apr 17, 2008.

Net Interest Income

Net interest income for the three months ended March 31, 2008 was $3.0 million, an increase of $417,000, or 16.4%, over the three months ended March 31, 2007. This was primarily due to the increase in the net interest margin. The net interest margin for the three months ended March 31, 2008 was 2.57% as compared to 2.28% for the three months ended March 31, 2007. Average interest-earning assets increased $11.6 million, or 2.6%, to $463.4 million for the three months ended March 31, 2008 from $451.8 million for the three months ended March 31, 2007. The yield on average interest-earning assets increased 20 basis points to 5.86% for the three months ended March 31, 2008 as compared to 5.66% for the three months ended March 31, 2007. Average interest-bearing liabilities increased by $10.7 million, or 2.8%, to $396.4 million for the three months ended March 31, 2008 from $385.7 million for the three months ended March 31, 2007. The cost of average interest-bearing liabilities decreased 11 basis points to 3.85% for the three months ended March 31, 2008 as compared to 3.96% for the three months ended March 31, 2007.

Net interest income for the nine months ended March 31, 2008 was $8.6 million, an increase of $764,000, or 9.8%, over the nine months ended March 31, 2007. This was primarily due to the increase in the net interest margin. The net interest margin for the nine months ended March 31, 2008 was 2.47% as compared to 2.31% for the nine months ended March 31, 2007. Average interest-earning assets increased $11.9 million, or 2.7%, to $462.0 million for the nine months ended March 31, 2008 from $450.1 million for the nine months ended March 31, 2007. The yield on average interest-earning assets increased 28 basis points to 5.87% for the nine months ended March 31, 2008 as compared to 5.59% for the nine months ended March 31, 2007. Average interest-bearing liabilities increased by $12.9 million, or 3.4%, to $395.1 million for the nine months ended March 31, 2008 from $382.2 million for the nine months ended March 31, 2007. The cost of average interest-bearing liabilities increased 12 basis points to 3.98% for the nine months ended March 31, 2008 as compared to 3.86% for the nine months ended March 31, 2007.

This excerpt taken from the PSBH 8-K filed Jan 17, 2008.

Net Interest Income

Net interest income for the three months ended December 31, 2007 was $2.9 million, an increase of $262,000, or 10.1%, over the three months ended December 31, 2006. This was primarily due to the increase in the net interest margin. The net interest margin for the three months ended December 31, 2007 was 2.45% as compared to 2.30% for the three months ended December 31, 2006. Average interest-earning assets increased $15.3 million, or 3.4%, to $463.4 million for the three months ended December 31, 2007 from $448.1 million for the three months ended December 31, 2006. The yield on average interest-earning assets increased 33 basis points to 5.89% for the three months ended December 31, 2007 as compared to 5.56% for the three months ended December 31, 2006. Average interest-bearing liabilities increased by $16.2 million, or 4.3%, to $395.3 million for the three months ended December 31, 2007 from $379.1 million for the three months ended December 31, 2006. The cost of average interest-bearing liabilities increased 18 basis points to 4.03% for the three months ended December 31, 2007 as compared to 3.85% for the three months ended December 31, 2006.

Net interest income for the six months ended December 31, 2007 was $5.6 million, an increase of $346,000, or 6.6%, over the six months ended December 31, 2006. This was primarily due to the increase in the net interest margin. The net interest margin for the six months ended December 31, 2007 was 2.41% as compared to 2.33% for the six months ended December 31, 2006. Average interest-earning assets increased $12.1 million, or 2.7%, to $461.3 million for the six months ended December 31, 2007 from $449.2 million for the six months ended December 31, 2006. The yield on average interest-earning assets increased 31 basis points to 5.86% for the six months ended December 31, 2007 as compared to 5.55% for the six months ended December 31, 2006. Average interest-bearing liabilities increased by $12.9 million, or 3.4%, to $394.5 million for the six months ended December 31, 2007 from $381.6 million for the six months ended December 31, 2006. The cost of average interest-bearing liabilities increased 23 basis points to 4.03% for the six months ended December 31, 2007 as compared to 3.80% for the six months ended December 31, 2006.

This excerpt taken from the PSBH 8-K filed Oct 17, 2007.

Net Interest Income

Net interest income for the three months ended September 30, 2007 was $2.8 million, an increase of $85,000 or 3.2% over the three months ended September 30, 2006. This was primarily due to the increase in the net interest margin. The net interest margin for the three months ended September 30, 2007 was 2.38% as compared to 2.35% for the three months ended September 30, 2006. Average interest-earning assets increased $8.9 million or 2.0% to $459.1 million for the three months ended September 30, 2007 from $450.2 million for the three months ended September 30, 2006. The yield on average interest-earning assets increased 29 basis points to 5.84% for the three months ended September 30, 2007 as compared to 5.55% for the three months ended September 30, 2006. Average interest-bearing liabilities increased by $11.6 million or 3.0% to $393.7 million for the three months ended September 30, 2007 from $382.1 million for the three months ended September 30, 2006. The cost of average interest-bearing liabilities increased 27 basis points to 4.04% for the three months ended September 30, 2007 as compared to 3.77% for the three months ended September 30, 2006.

This excerpt taken from the PSBH 8-K filed Aug 13, 2007.

Net Interest Income

Net interest income for the twelve months ended June 30, 2007 was $10.6 million, a decrease of $67,000 or 0.6% over the twelve months ended June 30, 2006. This was primarily due to the decrease in the net interest margin to 2.35% from 2.84%. Average interest-earning assets increased by $76.1 million or 20.3% to $450.0 million for the twelve months ended June 30, 2007 from $373.9 million for the twelve months ended June 30, 2006. The yield on average interest-earning assets increased 44 basis points to 5.64% for the twelve months ended June 30, 2007 as compared to 5.20% for the twelve months ended June 30, 2006. Average interest-bearing liabilities increased by $75.2 million or 24.5% to $381.7 million for the twelve months ended June 30, 2007 from $306.5 million for the twelve months ended June 30, 2006. The cost of average interest-bearing liabilities increased 101 basis points to 3.88% for the twelve months ended June 30, 2007 as compared to 2.87% for the twelve months ended June 30, 2006.

This excerpt taken from the PSBH 8-K filed Apr 20, 2007.

Net Interest Income

Net interest income for the three months ended March 31, 2007 was $2.5 million, a decrease of $205,000 or 7.5% over the three months ended March 31, 2006. This decrease was primarily due to a reduction in the net interest margin from 2.86% for the three months ended March 31, 2006 to 2.28% for the three months ended March 31, 2007. During the three and nine months ended March 31, 2007, the cost of our interest-bearing liabilities continued to increase more rapidly than yields on our interest-earning assets, reflecting the flat yield curve. In response to the challenging interest rate environment, we increased our investment in Auction Rate Preferred securities, from an average of $21.7 million for the nine months ended March 31, 2006 to $40.5 million for the nine months ended March 31, 2007. These investments, although issued at a lower coupon rate, are eligible for the dividends-received deduction for tax purposes, resulting in a higher yield after taxes. We also increased our investment in tax-exempt Bank Owned Life Insurance. Excluding the one-time tax provision of $147,000 this quarter, these strategies resulted in a decrease of $138,000 in tax expense for the three months ended March 31, 2007 compared to the three months ended March 31, 2006 and a reduction of $556,000 for the nine months ended March 31, 2007. Average interest-earning assets increased by $61.4 million or 15.7% to $451.8 million for the three months ended March 31, 2007 from $390.4 million for the three months ended March 31, 2006. The yield on average interest-earning assets increased 35 basis points to 5.66% for the three months ended March 31, 2007 as compared to 5.31% for the three months ended March 31, 2006. Average interest-bearing liabilities increased by $61.1 million or 18.8% to $385.7 million for the three months ended March 31, 2007 from $324.6 million for the three months ended March 31, 2006. The cost of average interest-bearing liabilities increased 101 basis points to 3.96% for the three months ended March 31, 2007 as compared to 2.95% for the three months ended March 31, 2006.

Net interest income for the nine months ended March 31, 2007 was $7.8 million, a decrease of $135,000 or 1.7% over the nine months ended March 31, 2006. This was primarily due to the decrease in the net interest margin to 2.31% from 2.94%. Average interest-earning assets increased by $90.6 million or 25.2% to $450.0 million for the nine months ended March 31, 2007 from $359.4 million for the nine months ended March 31, 2006. The yield on average interest-earning assets increased 43 basis points to 5.59% for the nine months ended March 31, 2007 as compared to 5.16% for the nine months ended March 31, 2006. Average interest-bearing liabilities increased by $89.8 million or 30.7% to $382.3 million for the nine months ended March 31, 2007 from $292.5 million for the nine months ended March 31, 2006. The cost of average interest-bearing liabilities increased 114 basis points to 3.86% for the nine months ended March 31, 2007 as compared to 2.72% for the nine months ended March 31, 2006.

This excerpt taken from the PSBH 8-K filed Jan 29, 2007.

Net Interest Income

Net interest income for the three months ended December 31, 2006 was $2.6 million, a decrease of $153,000 or 5.6% over the three months ended December 31, 2005. This decrease was primarily due to a reduction in the net interest margin from 3.03% for the three months ended December 31, 2005 to 2.30% for the three months ended December 31, 2006. During the three and six months ended December 31, 2006, the cost of our interest-bearing liabilities continued to increase more rapidly than yields on our interest-earning assets, reflecting the inverted yield curve. In response to the challenging interest rate environment, we increased our investment in Auction Rate Preferred securities, from an average of $21.2 million for the six months ended December 31, 2005 to $43.7 million for the six months ended December 31, 2006. These investments, although issued at a lower coupon rate, are eligible for the dividends received deduction for tax purposes. This results in a higher yield after taxes. We also increased our investment in tax-exempt Bank Owned Life Insurance. These strategies resulted in an income tax benefit of $84,000 for the three months ended December 31, 2006 compared to an income tax expense of $178,000 for the three months ended December 31, 2005. The income tax benefit was $6,000 for the six months ended December 31, 2006 compared to an income tax expense for the six months ended December 31, 2005 of $411,000. Average interest-earning assets increased by $87.0 million or 24.1% to $448.1 million for the three months ended December 31, 2006 from $361.1 million for the three months ended December 31, 2005. The yield on average interest-earning assets increased 45 basis points to 5.56% for the three months ended December 31, 2006 as compared to 5.11% for the three months ended December 31, 2005. Average interest-bearing liabilities increased by $87.3 million or 29.9% to $379.0 million for the three months ended December 31, 2006 from $291.7 million for the three months ended December 31, 2005. The cost of average interest-bearing liabilities increased 127 basis points to 3.85% for the three months ended December 31, 2006 as compared to 2.58% for the three months ended December 31, 2005.

Net interest income for the six months ended December 31, 2006 was $5.3 million, an increase of $70,000 or 1.3% over the six months ended December 31, 2005. This increase was primarily due to the growth in average interest-earning assets of $104.9 million or 30.5% to $449.2 million for the six months ended December 31, 2006 from $344.3 million for the six months ended December 31, 2005. The yield on average interest-earning assets increased 47 basis points to 5.55% for the six months ended December 31, 2006 as compared to 5.08% for the six months ended December 31, 2005. Average interest-bearing liabilities increased by $103.8 million or 37.5% to $380.6 million for the six months ended December 31, 2006 from $276.8 million for the six months ended December 31, 2005. The cost of average interest-bearing liabilities increased 122 basis points to 3.81% for the six months ended December 31, 2006 as compared to 2.59% for the six months ended December 31, 2005. The net interest margin for the six months ended December 31, 2006 was 2.33% as compared to 2.99% for the six months ended December 31, 2005.

This excerpt taken from the PSBH 8-K filed Oct 20, 2006.

Net Interest Income

Net interest income for the three months ended September 30, 2006 was $2.7 million, an increase of $223,000 or 9.1% over the three months ended September 30, 2005. This increase was primarily due to the growth in average interest-earning assets of $122.1 million or 37.3% to $449.6 million for the three months ended September 30, 2006 from $327.5 million for the three months ended September 30, 2005. The yield on average interest-earning assets increased 52 basis points to 5.56% for the three months ended September 30, 2006 as compared to 5.04% for the three months ended September 30, 2005. Average interest-bearing liabilities increased by $120.9 million or 46.0% to $383.4 million for the three months ended September 30, 2006 from $262.5 million for the three months ended September 30, 2005. The cost of average interest-bearing liabilities increased 116 basis points to 3.76% for the three months ended September 30, 2006 as compared to 2.60% for the three months ended September 30, 2005. The net interest margin for the three months ended September 30, 2006 was 2.35% as compared to 2.96% for the three months ended September 30, 2005.

This excerpt taken from the PSBH 8-K filed Aug 14, 2006.

Net Interest Income

Net interest income for the twelve months ended June 30, 2006 was $10.6 million, an increase of $1.4 million or 15.7% over the twelve months ended June 30, 2005. This increase was primarily due to the growth in average interest-earning assets of $67.6 million or 22.1% to $373.9 million for the twelve months ended June 30, 2006 from $306.3 million for the twelve months ended June 30, 2005. The yield on interest-earning assets increased 38 basis points to 5.22% for the twelve months ended June 30, 2006 as compared to 4.84% for the twelve months ended June 30, 2005. Interest-bearing liabilities increased by $60.1 million to $307.2 million for the twelve months ended June 30, 2006 from $247.1 million for the twelve months ended June 30, 2005. The cost of interest-bearing liabilities increased 61 basis points to 2.87% for the twelve months ended June 30, 2006 as compared to 2.26% for the twelve months ended June 30, 2005.

This excerpt taken from the PSBH 8-K filed Apr 26, 2006.

Net Interest Income

Net interest income for the quarter ended March 31, 2006 was $2.7 million, an increase of $295,000 or 12.4% over the quarter ended March 31, 2005. This increase was primarily due to the growth in average interest-earning assets of $72.9 million or 22.9% to $390.4 million for the three months ended March 31, 2006 from $317.6 million for the three months ended March 31, 2005. The yield on interest-earning assets increased 47 basis points to 5.31% for the three months ended March 31, 2006 as compared to 4.84% for the three months ended March 31, 2005. Interest-bearing liabilities increased by $72.1 million or 28.5% to $325.0 million for the three months ended March 31, 2006 from $252.9 million for the three months ended March 31, 2005. The cost of interest-bearing liabilities increased 77 basis points to 3.03% for the three months ended March 31, 2006 as compared to 2.26% for the three months ended March 31, 2005.

Net interest income for the nine months ended March 31, 2006 was $7.8 million, an increase of $1.1 million or 15.8% over the nine months ended March 31, 2005. This increase was primarily due to the growth in average interest-earning assets of $56.4 million or 18.6% to $359.4 million for the nine months ended March 31, 2006 from $303.0 million for the nine months ended March 31, 2005. The yield on interest-earning assets increased 41 basis points to 5.16% for the nine months ended March 31, 2006 as compared to 4.75% for the nine months ended March 31, 2005. Interest-bearing liabilities increased by $47.4 million to $293.0 million for the nine months ended March 31, 2006 from $245.6 million for the nine months ended March 31, 2005. The cost of interest-bearing liabilities increased 57 basis points to 2.78% for the nine months ended March 31, 2006 as compared to 2.21% for the nine months ended March 31, 2005.

This excerpt taken from the PSBH 8-K filed Jan 20, 2006.

Net Interest Income

 

Net interest income for the quarter ended December 31, 2005 was $2.7 million, an increase of $425,000 or 18.7% over the quarter ended December 31, 2004. This increase was primarily due to the growth in average interest-earning assets to $363.3 million for the three months ended December 31, 2005 from $311.1 million for the three months ended December 31, 2004.

 

Net interest income for the six months ended December 31, 2005 was $5.1 million, an increase of $775,000 or 17.8% over the six months ended December 31, 2004. This increase was primarily due to the growth in average interest-earning assets to $346.5 million for the six months ended December 31, 2005 from $298.2 million for the six months ended December 31, 2004.

 

This excerpt taken from the PSBH 8-K filed Oct 20, 2005.

Net Interest Income

 

Net interest income for the three months ended September 30, 2005 was $2.46 million, an increase of $356,000 or 16.9% over the three months ended September 30, 2004. This increase was primarily due to the growth in average interest-earning assets to $327.5 million for the three months ended September 30, 2005 from $283.0 million for the three months ended September 30, 2004.

 

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