MSB Financial Corp (MSBF) has reported 245.28 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $0.55 million, or $0.10 a share in the quarter, compared with $0.16 million, or $0.03 a share for the same period last year. Revenue during the quarter grew 28.15 percent to $3.59 million from $2.80 million in the previous year period. Net interest income for the quarter rose 28.95 percent over the prior year period to $3.60 million. Non-interest income for the quarter rose 32.62 percent over the last year period to $0.19 million.
MSB FINANCIAL has made provision of $0.20 million for loan losses during the quarter, up 50 percent from $0.13 million in the same period last year.
Net interest margin improved 17 basis points to 3.29 percent in the quarter from 3.12 percent in the last year period. Efficiency ratio for the quarter improved to 71.83 percent from 87.54 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.
"I'm very pleased with the Company's first quarter results. Our entire staff continues to focus on the execution of our long term strategic plan" stated Michael A. Shriner, President and Chief Executive Officer.
Shareholders equity was at $74.07 million as on Mar. 31, 2017.
Return on average assets moved up 31 basis points to 0.48 percent in the quarter from 0.17 percent in the last year period. At the same time, return on average equity increased 214 basis points to 2.97 percent in the quarter from 0.83 percent in the last year period.
Book value per share was $12.93 for the quarter.
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