Published:
DSA Financial Corporation Reports Earnings for the First Quarter Ended September 30, 2008 and Declares a Quarterly Dividend
LAWRENCEBURG, Ind., Oct. 10 /PRNewswire-FirstCall/ -- DSA Financial
Corporation (OTC Bulletin Board: DSFN) announced its financial results for the
first quarter of fiscal 2009. For the quarter ended September 30, 2008, the
Company recorded net earnings of $184,000 or $0.12 per share. For the quarter
ended September 30, 2007, the Company recorded net earnings of $120,000 or
$0.07 per share, an increase of $64,000 or 53.3%.
DSA Financial reported total assets of $124.2 million at September 30,
2008, total liabilities of $107.8 million, including deposits of $95.2 million
and total stockholders' equity of $16.5 million.
In addition, Edward L. Fischer, President and Chief Executive Officer of
DSA Financial, announced today that the Company's board of directors has
declared a dividend on its common stock of $0.105 per share. The dividend is
payable on November 7, 2008 to stockholders of record as of October 24, 2008.
DSA Financial Corporation is the holding company for Dearborn Savings
Bank, a federally chartered savings institution headquartered inLawrenceburg,
Indiana. Dearborn Savings Bank operates through its main office and one branch
office located inLawrenceburg, Indiana.
DSA Financial Corporation
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(In thousands)
(Unaudited)
September 30, June 30,
ASSETS 2008 2008
Cash and cash equivalents $4,857 $6,882
Investment securities 10,361 10,912
Loans receivable 99,748 99,540
Other assets 9,252 9,342
Total assets $124,218 $126,676
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits $95,180 $99,405
Advances from the FHLB 10,500 9,000
Other liabilities 2,081 1,854
Total liabilities 107,761 110,259
Stockholders' equity, net 16,457 16,417
Total liabilities and stockholders'
equity $124,218 $126,676
DSA Financial Corporation
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per share data)
(Unaudited)
Three months ended
September 30,
2008 2007
Total interest income $1,749 $1,690
Total interest expense 907 990
Net interest income 842 700
Provision for losses on loans 26 8
Net interest income after provision for
losses on loans 816 692
Other income 124 125
General, administrative and other expense 663 635
Earnings before income taxes 277 182
Income taxes 93 62
NET EARNINGS $184 $120
EARNINGS PER SHARE -- basic and diluted $.12 $.07
SOURCE DSA Financial Corporation
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
Daily NewsTags: ,FIN,OTC,ERN,DIV,IN-DSA-Financial-earn
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