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First Advantage Bancorp releases 2014 Earnings statement

First Advantage BancorpClarksville, TN – First Advantage Bancorp (OTCQX: FABK), the holding company of First Advantage Bank, announced net income of $3.252 million for the year ended December 31st, 2014, up 6.0% from $3.068 million in 2013. Basic and diluted earnings per share were $0.86 and $0.80, respectively, compared to $0.78 and $0.73, respectively, in 2013.

Net income for the fourth quarter 2014 was approximately $1 million compared to $1.2 million for the fourth quarter of 2013. The decrease in net income was primarily attributed to lower mortgage-related fee income.

Basic and diluted earnings per share were $0.27 and $0.25, respectively, for the fourth quarter 2014 compared to $0.31 and $0.29, respectively, in the fourth quarter 2013.

Net income for the fourth quarter improved 42.8% from net income of $705 thousand for the third quarter of 2014.

“We continue to be encouraged by the improvements in net income and the team we have built to execute our strategic plan. The asset growth we realized in the fourth quarter is further evidence of our successful execution of that plan. Our balance sheet grew 4.1% for the quarter and 8.4% for the year, with loan growth of 1.2% for the quarter and 8.2% for the year,” said Earl O. Bradley, III, Chief Executive Officer of the Company and the Bank.

“Loan demand remains strong in both our Clarksville and Nashville markets, and both markets continue to be recognized by business publications as some of the best economies in the nation. Our net interest margin of 4.33% for the year and 4.29% for the quarter continues to rank well above most local competitors and in the top quartile nationally. The Bank remains categorized as ‘Well-Capitalized’ by regulatory standards.” Subsequent to the quarter- and year-end, a nonperforming loan of $2.0 million was assumed by a qualified borrower and returned to performing status, resulting in a substantial improvement in asset quality overall. Had that transaction occurred in the fourth quarter, nonperforming assets as a percent of total assets would have been 2.01%.

Effective February 3rd, 2015, First Advantage Bancorp was promoted to the OTCQX market. OTCQX for banks is a public market designed to meet the unique needs of U.S. regional and community banks and provides for enhanced visibility and disclosures through the OTC website, otcmarkets.com.

First Advantage Bancorp became publicly traded in 2007 and has paid quarterly dividends on common shares since 2008.

First Advantage Bank operates seven full-service banking centers in Clarksville, Nashville, and Franklin, and offers an array of business banking, personal banking, and mortgage products and services.

For more information about First Advantage Bank, visit www.firstadvantagebanking.com

About First Advantage Bank

First Advantage Bank was founded in 1954 as First Federal Savings Bank. As an independent community bank, First Advantage Bank has the strength and capacity to support the financial well-being of customers and communities across the state with a broad range of financial products and services. With deep roots in commercial and mortgage lending, First Advantage Bank is a trusted financial partner for businesses, individuals and families.

First Advantage Bank, a wholly owned subsidiary of First Advantage Bancorp (OTCQX: FABK), is an Equal Housing Lender and Member FDIC. For more information visit www.firstadvantagebanking.com or follow the company on Facebook, Twitter or YouTube.

Forward-Looking Statements

Certain statements contained herein are forward-looking statements that are based on assumptions and may describe future plans, strategies, and expectations of First Advantage Bancorp. These forward-looking statements are generally identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions. The Company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain.

Factors which could have a material adverse effect on the operations of the Company and its subsidiary include, but are not limited to, changes in interest rates, national and regional economic conditions, legislative and regulatory changes, monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board, the quality and composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in First Advantage Bank’s market area, changes in real estate market values in First Advantage Bank’s market area, changes in relevant accounting principles and guidelines and the inability of third party service providers to perform.

These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Except as required by applicable law or regulation, the Company does not undertake, and specifically disclaims any obligation, to release publicly the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of anticipated or unanticipated events.


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