ESB Financial Corporation Announces Increased
Second Quarter Earnings
July 20, 2010 04:23 PM Eastern Daylight Time
ELLWOOD CITY, Pa.--(EON: Enhanced Online News)--ESB Financial Corporation (Nasdaq: ESBF), the parent
company of ESB Bank, today announced earnings for the quarter ended June 30, 2010 of $0.33 per diluted share
on net income of $4.0 million as compared to earnings of $0.26 per diluted share on net income of $3.1 million for
the quarter ended June 30, 2009, a 26.9% increase in net income per diluted share. The Company’s annualized
return on average assets and average equity were 0.82% and 9.30%, respectively, for the quarter ended June 30,
2010, compared to 0.64% and 8.23%, respectively, for the quarter ended June 30, 2009.
For the six month period ended June 30, 2010, the Company realized earnings of $0.61 per diluted share on net
income of $7.3 million compared to earnings of $0.51 per diluted share on net income of $6.2 million for the same
period in the prior year, a 19.6% increase in net income per diluted share. The Company’s annualized return on
average assets and average equity were 0.75% and 8.65%, respectively, for the six-month period ended June 30,
2010, compared to 0.62% and 8.30%, respectively, for the six months ended June 30, 2009.
Income for the quarter and six months ended June 30, 2009 was negatively affected by the Federal Deposit
Insurance Corporation’s decision to establish a special assessment of five basis points on all FDIC-insured financial
institutions. The assessment of $900,000 was recorded in the second quarter of 2009.
Charlotte A. Zuschlag, President and Chief Executive Officer of the Company, stated, “The Board of Directors,
senior management and I are pleased with the improvement in earnings for the quarter and six months ended June
30, 2010. The last several years have presented a challenging time for the banking industry and the challenges have
continued into 2010. We have been successful and prudent in managing and improving our net int