Emclaire Financial Q2 Profit Rises

7/20/2012 12:38 PM ET

Emclaire Financial Corp (EMCF: Quote), the parent holding company of The Farmers National Bank of Emlenton, reported second-quarter net income available to stockholders of $1.1 million or $0.65 per share, up from $0.8 million or $0.43 per share in the comparable quarter last year.

The company mainly attributed the improvement of the quarterly earnings to the increase in net interest income and gains from the sale of securities, along with a decrease in noninterest expense.

Net interest income for the latest quarter rose 5.2 percent to $3.9 million from $3.7 million a year ago, while noninterest income rose to $1.4 million from $1.2 million last year.

Net interest margin for the quarter decreased to 3.26 percent from 3.34 percent last year. Provision for loan losses decreased to 115,000 from $120,000 in the year-ago quarter.

Click here to receive FREE breaking news email alerts for emclaire financial corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

41 Articles Next>>

Editors Pick

Upbeat Economic Data Contributes To Rally On Wall Street - U.S. Commentary

Stocks moved sharply higher over the course of the trading day on Friday, more than offsetting the weakness seen on Thursday. In a reversal from the previous session, the markets benefited from some upbeat U.S. economic data as well as comments from a Federal Reserve official. The major averages saw further upside going into the close, with the Dow and the S&P 500 reaching new record highs.

PETA: IRS Targeting Neither New Nor Limited To Conservative Causes

As the IRS targeting scandal continues to make headlines, animal-protection charity People for the Ethical Treatment of Animals, or PETA, claims that conservative groups are not the only ones that have faced increased scrutiny from the agency.

Polls Shows Below Average Interest In IRS, Benghazi Stories

While the IRS targeting scandal has taken center stage on Capitol Hill on Friday, the results of a new Gallup poll showed that the American public's interest in the story is comparatively low based on historical measures. The poll showed that 54 percent of Americans are following the news that the IRS targeted conservative groups for greater scrutiny "very" or "somewhat" closely.