Apollo Bancorp, Inc. Reports 2017 Second Quarter Earnings
Contact: Nelson L. Person
President & CEO
Tel. (724) 478-6101
FOR IMMEDIATE RELEASE
Apollo, PA— July 19, 2017: Apollo Bancorp, Inc. (OTC Pink: APLO) the parent company of Apollo Trust Company reported net income for the quarter ended June 30, 2017 of $379,000, or $0.73 per share, compared with second quarter 2016 earnings of $334,000, or $0.68 per share. Net interest income increased $66,000 compared with second quarter 2016 which was primarily the result of a $222,000 increase in interest earned on loans offset by a $119,000 decrease in interest from investment securities. Noninterest income increased $61,000 compared with second quarter 2016 and was mainly attributed to an increase in net gains on the sales of securities and bank owned life insurance income.
Annualized return on average assets (ROA) of 0.86% and annualized return on average equity (ROE) of 6.98% were reported for second quarter 2017. Retail deposits of $116 million as of June 30, 2017 remained unchanged since year-end 2016. Total assets of the bank holding company were $159 million at June 30, 2017.
Apollo Bancorp, Inc. common stock is traded Over-the-Counter on OTC Pink under the symbol APLO. Recent trades and current bid-ask prices may be viewed at www.otcmarkets.com.
Apollo Trust Company operates five banking locations in the Alle-Kiski Valley: Apollo, Allegheny Township, North Apollo, North Washington and Spring Church along with an Allegheny County loan office located in O’Hara Township. It also provides fiduciary services and wealth management.
More information is available at the company’s website: www.apollotrust.com