ESB Financial Corporation Announces Record Earnings
Year End
January 28, 2010 04:23 PM Eastern Time
ELLWOOD CITY, Pa.--(EON: Enhanced Online News)--ESB Financial Corporation (NASDAQ: ESBF), the parent company o
today announced earnings of $1.00 per diluted share on net income of $12.0 million for the year ended December 31, 2009, which
19.1% increase in net income per diluted share as compared to earnings of $0.84 per diluted share on net income of $10.2 million f
December 31, 2008. The Company’s return on average assets and average equity were 0.61% and 7.66%, respectively, for the ye
December 31, 2009 and 0.53% and 7.88%, respectively, for the year ended December 31, 2008.
For the three months ended December 31, 2009, the Company announced earnings of $0.20 per diluted share on net income of $2
represents a 25.0% increase in net income per diluted share as compared to earnings of $0.16 per diluted share on net income of $
quarter ended December 31, 2008. The Company’s annualized return on average assets and average equity were 0.48% and 5.55
for the quarter ended December 31, 2009 and 0.40% and 6.16%, respectively, for the quarter ended December 31, 2008.
Income for the year ended December 31, 2009 was negatively affected by the Federal Deposit Insurance Corporation’s (“FDIC”)
establish a special assessment of five basis points on all FDIC-insured financial institutions. The assessment was based on total asset
capital as of June 30, 2009. The special assessment of $891,000 was collected on September 30, 2009 and recorded in the secon
Operating earnings without the effect of the special assessment would have been $1.05 per diluted share on net income of $12.6 mil
ended December 31, 2009, a 25.0% increase in diluted earnings per share as compared to the same period in the prior year.
Commenting on the quarter and year end results, Charlotte A. Zuschlag, President and Chief Executive Officer of the Company, sta
of Directors, senior management and I are pleased with the record earnings for the ye