First Bancorp of Indiana Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014
January 24, 2015 at 03:00 am IST
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First Bancorp of Indiana Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, the company reported net interest income of USD 3.475 million compared to USD 3.232 million a year ago. Income before income taxes and cumulative effect of a change in accounting principle was USD 0.418 million compared to USD 0.322 million a year ago. Net income was USD 0.373 million compared to USD 0.321 million a year ago. The quarter-over-quarter change in earnings was attributed largely to a 7.5% increase in interest income that more than offset higher overhead expenses.
For the six months, the company reported net interest income of USD 6.799 million compared to USD 6.493 million a year ago. Income before income taxes and cumulative effect of a change in accounting principle was USD 0.748 million compared to USD 0.610 million a year ago. Net income was USD 0.692 million compared to USD 0.621 million a year ago.
First Bancorp of Indiana, Inc. is a bank holding company. The Companyâs principal activity is the ownership and management of its wholly owned subsidiary, First Federal Savings Bank (the bank). The Bank provides a variety of banking services to individuals and business customers through nine full-service locations in southwestern Indiana and one loan production office in Henderson, Kentucky. The Bank operates some of its branches under Home Building Savings Bank, a division of the Bank. The Bankâs deposit products include certificates of deposit, checking accounts, health savings accounts, individual retirement account, money market accounts and savings accounts. Its loan products include consumer loans, mortgage loans and home equity loans, among others. The Bankâs e-banking services include First Direct Online Banking, First BillPay, Zelle, Mobile Banking, Digital Wallet, Mobile Check Deposit and eStatements. It is also engaged in treasury management and business lending services.
FIRST BANCORP OF INDIANA, INC. 
