MSB Financial Corp (MSBF) has reported 23,800 percent jump in profit for the quarter ended Dec. 31, 2016.
Revenue during the quarter grew 17.79 percent to $3.20 million from $2.72 million in the previous year period. Net interest income for the quarter rose 26.87 percent over the prior year period to $3.30 million. Non-interest income for the quarter fell 2.38 percent over the last year period to $0.20 million.
MSB FINANCIAL has made provision of $0.30 million for loan losses during the quarter, up 233.33 percent from $0.09 million in the same period last year.
Net interest margin improved 23 basis points to 3.19 percent in the quarter from 2.96 percent in the last year period. Efficiency ratio for the quarter improved to 68.96 percent from 96.91 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.
"I am very proud of our entire staff and Board of Directors for the additional effort set forth to ensure that the Company executed on its 2016 strategic plan. What we accomplished in the past 12 months would not have been possible without a total team effort," stated Michael A. Shriner, President and Chief Executive Officer.
Return on average assets was at 0.44 percent in the quarter. At the same time, return on average equity increased 261 basis points to 2.62 percent in the quarter from 0.01 percent in the last year period.
Book value per share for quarter was almost stable at $12.81, when compared with the previous year period.
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