United Community Bancorp (UCBA) has reported a marginal fall of a 0.32 percent in profit for the quarter ended Mar. 31, 2017. The company has earned $0.94 million, or $0.23 a share, compared with $0.94 million or $0.23 a share, a year ago.
Revenue during the quarter grew 3.25 percent to $4.57 million from $4.43 million in the previous year period. Net interest income for the quarter rose 5.62 percent over the prior year period to $3.55 million. Non-interest income for the quarter fell 7.67 percent over the last year period to $1.04 million.
United Community Bancorp has made provision of $0.01 million for loan losses during the quarter, down 78.85 percent from $0.05 million in the same period last year.
Net interest margin improved 4 basis points to 2.86 percent in the quarter from 2.82 percent in the last year period. Efficiency ratio for the quarter deteriorated to 74.53 percent from 70.82 percent in the previous year period. A rise in efficiency ratio suggests a fall in profitability.
Deposits stood at $463.30 million as on Mar. 31, 2017, up 7.25 percent compared with $431.98 million on Mar. 31, 2016.
Investments stood at $191.68 million as on Mar. 31, 2017, up 1.46 percent or $2.75 million from year-ago. Shareholders equity was at $69.99 million as on Mar. 31, 2017.
Return on average assets moved down 3 basis points to 0.70 percent in the quarter from 0.73 percent in the last year period. At the same time, return on average equity decreased 10 basis points to 5.41 percent in the quarter from 5.51 percent in the last year period.
Meanwhile, nonperforming assets to total assets was 0.57 percent in the quarter, down from 0.75 percent in the last year period.
Average equity to average assets ratio was 12.97 percent for the quarter, down from 13.32 percent for the previous year quarter.
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