MW Bancorp Inc (MWBC) has reported a 439.13 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $0.12 million, or $0.15 a share in the quarter, compared with $0.02 million, or $0.03 a share for the same period last year. Revenue during the quarter surged 30.33 percent to $0.94 million from $0.72 million in the previous year period. Net interest income for the quarter rose 18.51 percent over the prior year period to $0.81 million. Non-interest income for the quarter rose 190.91 percent over the last year period to $0.13 million.
Net interest margin improved 27 basis points to 2.68 percent in the quarter from 2.41 percent in the last year period.
Liabilities outpace assets growth
Total assets stood at $128.52 million as on Dec. 31, 2016, up 7.79 percent compared with $119.23 million on Dec. 31, 2015. On the other hand, total liabilities stood at $112.27 million as on Dec. 31, 2016, up 8.52 percent from $103.46 million on Dec. 31, 2015.
Loans outpace deposit growth
Net loans stood at $107.24 million as on Dec. 31, 2016, up a 16.32 percent compared with $92.19 million on Dec. 31, 2015. Deposits stood at $85.09 million as on Dec. 31, 2016, up 10.20 percent compared with $77.21 million on Dec. 31, 2015. Loans to deposits ratio was 128.16 percent for the quarter, up from 124.83 percent for the previous year quarter.
Investments stood at $3.87 million as on Dec. 31, 2016, down 12.96 percent or $0.58 million from year-ago. Shareholders equity stood at $16.25 million as on Dec. 31, 2016, up 3.04 percent or $0.48 million from year-ago.
Return on average assets moved up 31 basis points to 0.39 percent in the quarter from 0.08 percent in the last year period. At the same time, return on average equity increased 248 basis points to 3.07 percent in the quarter from 0.59 percent in the last year period.
Meanwhile, nonperforming assets to total assets was 0.71 percent in the quarter, down from 0.95 percent in the last year period.
Capital ratios deteriorate
MW Bancorp Inc witnessed a deterioration in capital ratios during in the quarter. Tier-1 leverage ratio stood at 11.70 percent for the quarter, down from 12.10 percent for the previous year quarter. Equity to assets ratio was 12.64 percent for the quarter, down from 14.67 percent for the previous year quarter. Average equity to average assets ratio was 12.82 percent for the quarter, down from 13.40 percent for the previous year quarter.
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