DSA Financial Corp. Announces Consolidated Unaudited Financial Results for the Fourth Quarter and Fiscal Year Ended June 30, 2014
For the year, the company reported net earnings were $959,000, or $0.59 per share, a decrease of $73,000, or 7.1%, as compared to net earnings of $1,032,000, or $0.65 per share for the fiscal year ended June 30, 2013. The year-to-year decrease in earnings was attributable to a $185,000 or 23.2%, decrease in other income, a decrease in net interest income of $108,000 or 2.8% and a $37,000 or 1.3%, increase in general, administrative and other expense, partially offset by a decrease of $219,000 in provision for losses on loans, and a $38,000, or 7.3%, decrease in income tax expense. Total interest income was $4,369,000 against $4,524,000 a year ago. Net interest income was $3,690,000 against $3,798,000 a year ago. Earnings before income taxes were $1,443,000 against $1,554,000 a year ago.