KS Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported income available to common shareholders of USD 126,000 or USD 0.10 per basic and diluted share, compared to income available to common shareholders of USD 188,000 or USD 0.14 per basic and diluted share a year ago. Total interest and dividend income was USD 3,360,000 compared with 3,624,000 a year ago. Net interest income was USD 2,482,000 compared with USD 2,485,000 a year ago. Income before income taxes was USD 216,000 compared with USD 218,000 a year ago. Net interest income after provision for loan losses was USD 2,400,000 compared with USD 2,335,000 a year ago. The decrease in earnings is primarily attributable to the income tax expense of USD 24,000 for the three months ended December 31, 2012, compared to a tax benefit of USD 34,000 for the three months ended December 31, 2011.

For the year, the company reported income available to common shareholders of USD 531,000 or USD 0.41 per basic and diluted share, compared to income available to common shareholders of USD 154,000 or USD 0.12 per basic and diluted share a year ago. Total interest and dividend income was USD 13,675,000 compared with USD 15,057,000 a year ago. Net interest income was USD 9,830,000 compared with USD 10,207,000 a year ago. Net interest income after provision for loan losses was USD 9,623,000 compared with USD 8,724,000 a year ago. Income before income taxes was USD 764,000 compared with loss before income taxes of USD 163,000 a year ago. The increase in earnings is primarily attributable to a reduction in the provision for loan loss expense.