CKF Bancorp, Inc. Announces Earnings for the Three Months Ended March 31, 2010

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City of Industry, CA DANVILLE, Ky.--(BUSINESS WIRE)--CKF Bancorp, Inc. (OTCBB:CKFB - News), parent company of Central Kentucky Federal Savings Bank, reported consolidated net earnings of $103,905 for the three months ended March 31, 2010 compared to $140,174 for the three months ended March 31, 2009. Diluted earnings per share were $.08 for the three months ended March 31, 2010 compared to $.11 diluted earnings per share for the three months ended March 31, 2009.


Total assets at March 31, 2010 were $131.0 million compared to $130.8 million at December 31, 2009. Loans receivable at March 31, 2010 were $110.1 million compared to $110.5 million at December 31, 2009. Deposits were $96.7 million at March 31, 2010 and were $95.5 million at December 31, 2009.

Central Kentucky Federal Savings Bank's main office is located at 340 W. Main Street, Danville, Kentucky. [Read the full article]

Washington Federalâ€(TM)s (NasdaqGS: WFSL - News) second-quarter (ended March 31, 2010) earnings of 73 cents per share substantially surpassed the Zacks Consensus Estimate of 11 cents. Results were helped by significant gains from its acquisition of Horizon, a failed bank based in Bellingham, Washington as well as tax benefits. The quarterly results also compare favorably with the earnings of 10 cents in the year-ago period.

Besides the noteworthy gain on the acquisition of the failed bank, the stupendous results in the reported quarter were supported by strong deposit inflows and new account openings. On the other side, feeble loan demand disappointed management due to the tepid economy.

On-going soft market conditions continued to force the company to aggressively write down problem assets. Though the overall level of non-performing loans and real estate owned through foreclosure is showing early signs of improvement with a gradual decline, it remains above our comfort zone. [Read the full article]

Two executives of Sycamore Township-based Lenox Wealth Management Inc. have filed regulatory documents to seek the two board seats of First Franklin Corp. that are up for election this year. Lenox CEO John Lame and Vice President John Long filed a proxy statement with the Securities and Exchange Commission on Friday asking shareholders to vote for them. First Franklin CEO Jack Kuntz and recently retired CEO and Chairman Tom Siemers are also running for those board seats. Shareholders have to vote by the annual meeting June 14. Shareholders of record as of April 20 are eligible to vote. Lenox owns 9.9 percent of First Franklin’s stock and began pushing for changes last month that could include management changes or seeking a sale of the company. Regulators have also directed the company to raise more capital. Lenox’s executives say they can assist in ensuring the latter takes place. [Read the full article]

Bank Mutual Corp. said its first-quarter net income was $2.1 million compared with $7.2 million a year earlier. The Brown Deer-based bank holding company (NASDAQ: BKMU) said Thursday its per-share income was 5 cents per share compared with 15 cents in the first quarter of 2009. Earnings decreased because of the low interest rate environment and some customers who “continue to experience financial difficulty due to the lag effects of the recession,” said chairman and CEO Michael Crowley Jr. Net interest income for the quarter ending March 31 declined by $5.1 million compared with the same period in 2009. The decline resulted primarily from a decrease in the interest rate spread and a $63.9 million decrease in average earning assets, the company said. [Read the full article]

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