DSA Financial Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2013; Declares Quarterly Dividend, Payable on February 7, 2014
For the six months period, the company reported total interest income of $2.204 million, net interest income of $1.852 million, earnings before income taxes of $0.750 million, net earnings of $0.500 million or $0.31 per basic and diluted share compared to the total interest income of $2.291 million, net interest income of $1.909 million, earnings before income taxes of $0.901 million, net earnings of $0.599 million or $0.38 per basic and dilute for the same period year ago. The decrease in earnings was primarily attributed to a net decrease in gains on sales of loans and investments of $317,000 which was partially offset by a decrease in provision for losses on loans of $139,000, a decrease of $57,000 in net interest income and a decrease of $47,000 in general, administrative and other expense.
The company's board of directors has declared a dividend on its common stock of $0.11 per share. The dividend is payable on February 7, 2014 to stockholders of record as of January 24, 2014.