IF Bancorp (IROQ) has reported 63.08 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $1.30 million, or $0.35 a share in the quarter, compared with $0.80 million, or $0.21 a share for the same period last year.
Revenue during the quarter grew 17.35 percent to $5.55 million from $4.73 million in the previous year period. Net interest income for the quarter rose 9.12 percent over the prior year period to $4.51 million. Non-interest income for the quarter rose 3.99 percent over the last year period to $1.12 million.
IF Bancorp has made provision of $0.08 million for loan losses during the quarter, down 83.54 percent from $0.48 million in the same period last year.
Assets outpace liabilities growthTotal assets stood at $588.68 million as on Sep. 30, 2016, up 5.50 percent compared with $558.02 million on Sep. 30, 2015. On the other hand, total liabilities stood at $498.59 million as on Sep. 30, 2016, up 4.55 percent from $476.88 million on Sep. 30, 2015.
Loans outpace deposit growthNet loans stood at $439.93 million as on Sep. 30, 2016, up 12.99 percent compared with $389.36 million on Sep. 30, 2015. Deposits stood at $423.60 million as on Sep. 30, 2016, up 3.82 percent compared with $408.03 million on Sep. 30, 2015.
Investments stood at $113.32 million as on Sep. 30, 2016, down 14.31 percent or $18.92 million from year-ago.
Return on assets moved up 26 basis points to 0.88 percent in the quarter from 0.62 percent in the last year period. At the same time, return on average equity increased 185 basis points to 6.20 percent in the quarter from 4.35 percent in the last year period.
Nonperforming assets stood at $2.76 million as on Sep. 30, 2016. Meanwhile, nonperforming assets to total assets was 1.22 percent in the quarter.
Book value per share was $21.12 for the quarter.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
