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DSA Financial Corp. (fka DSFN)

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DSA Financial Corp. (fka DSFN)

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DSA Financial Corp. (fka DSFN) RSS Feed

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Created
10/19/08
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DSA Financial Corporation Reports Earnings for the First Quarter Ended September 30, 2008 and Declares a Quarterly Dividend

LAWRENCEBURG, Ind., Oct 10, 2008 /PRNewswire-FirstCall via COMTEX/ -- DSA Financial Corporation (OTC Bulletin Board: DSFN) announced its financial results for the first quarter of fiscal 2009. For the quarter ended September 30, 2008, the Company recorded net earnings of $184,000 or $0.12 per share. For the quarter ended September 30, 2007, the Company recorded net earnings of $120,000 or $0.07 per share, an increase of $64,000 or 53.3%.
DSA Financial reported total assets of $124.2 million at September 30, 2008, total liabilities of $107.8 million, including deposits of $95.2 million and total stockholders' equity of $16.5 million.

In addition, Edward L. Fischer, President and Chief Executive Officer of DSA Financial, announced today that the Company's board of directors has declared a dividend on its common stock of $0.105 per share. The dividend is payable on November 7, 2008 to stockholders of record as of October 24, 2008.

DSA Financial Corporation is the holding company for Dearborn Savings Bank, a federally chartered savings institution headquartered in Lawrenceburg, Indiana. Dearborn Savings Bank operates through its main office and one branch office located in Lawrenceburg, Indiana.



DSA Financial Corporation
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(In thousands)
(Unaudited)

September 30, June 30,
ASSETS 2008 2008

Cash and cash equivalents $4,857 $6,882
Investment securities 10,361 10,912
Loans receivable 99,748 99,540
Other assets 9,252 9,342

Total assets $124,218 $126,676

LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits $95,180 $99,405
Advances from the FHLB 10,500 9,000
Other liabilities 2,081 1,854

Total liabilities 107,761 110,259

Stockholders' equity, net 16,457 16,417

Total liabilities and stockholders'
equity $124,218 $126,676



DSA Financial Corporation
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per share data)
(Unaudited)

Three months ended
September 30,
2008 2007

Total interest income $1,749 $1,690
Total interest expense 907 990
Net interest income 842 700

Provision for losses on loans 26 8

Net interest income after provision for
losses on loans 816 692

Other income 124 125

General, administrative and other expense 663 635

Earnings before income taxes 277 182

Income taxes 93 62

NET EARNINGS $184 $120

EARNINGS PER SHARE -- basic and diluted $.12 $.07

SOURCE DSA Financial Corporation
www.prnewswire.com
Copyright (C) 2008 PR Newswire. All rights reserved
-0-
KEYWORD: Indiana
INDUSTRY KEYWORD: FIN
OTC
SUBJECT CODE: ERN
DIV

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