Consumers Bancorp, Inc. Reports Earnings Results for the Third Quarter Ended March 31, 2021
April 19, 2021 at 12:04 pm EDT
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Consumers Bancorp, Inc. announced earnings results for the third quarter ended March 31, 2021. For the third quarter, the company announced net interest income was USD 6.336 million compared to USD 5.594 million a year ago. Net income was USD 2.116 million compared to USD 1.018 million a year ago. Basic earnings per share from continuing operations was USD 0.7 compared to USD 0.34 a year ago. For the nine months, net interest income was USD 19.888 million compared to USD 15.071 million a year ago. Net income was USD 7.024 million compared to USD 3.961 million a year ago. Basic earnings per share from continuing operations was USD 2.33 compared to USD 1.4 a year ago.
Consumers Bancorp, Inc. is a bank holding company for Consumers National Bank (the Bank). The Company is engaged in the business of commercial and retail banking. The Bankâs business involves attracting deposits from businesses and individual customers and using such deposits to originate commercial, mortgage and consumer loans in its primary market area. The Bank also invests in securities consisting primarily of United States government-sponsored entities, municipal obligations, mortgage-backed and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac and Ginnie Mae. Its deposit products include business and personal savings accounts, negotiable order of withdrawal accounts, time deposits and demand accounts, as well as certificates of deposit. The Bankâs primary market area includes Carroll, Columbiana, Jefferson, Mahoning, Stark, Summit, Wayne, and contiguous counties in Ohio, Pennsylvania, and West Virginia. The Bank operates online and 21 branch locations.