West End Indiana Bancshares Inc (WEIN) has reported an 1.66 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $0.47 million, or $0.46 a share in the quarter, compared with $0.48 million, or $0.41 a share for the same period last year.
Revenue during the quarter went up marginally by 1.27 percent to $2.88 million from $2.84 million in the previous year period. Net interest income for the quarter rose 7.87 percent over the prior year period to $3.02 million. Non-interest income for the quarter fell 2.93 percent over the last year period to $0.40 million.
West End Indiana Bancshares Inc has made provision of $0.53 million for loan losses during the quarter, up 47.51 percent from $0.36 million in the same period last year.
Liabilities outpace assets growth
Total assets stood at $285.56 million as on Sep. 30, 2016, up 4.02 percent compared with $274.52 million on Sep. 30, 2015. On the other hand, total liabilities stood at $255.82 million as on Sep. 30, 2016, up 4.74 percent from $244.24 million on Sep. 30, 2015.
Loans outpace deposit growth
Net loans stood at $232.64 million as on Sep. 30, 2016, up 9.02 percent compared with $213.39 million on Sep. 30, 2015. Deposits stood at $223.82 million as on Sep. 30, 2016, up 4.58 percent compared with $214.01 million on Sep. 30, 2015.
Investments stood at $24.23 million as on Sep. 30, 2016, down 25.01 percent or $8.08 million from year-ago.
Meanwhile, nonperforming assets to total assets was 1.54 percent in the quarter.
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