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Emclaire Financial Corp reported quarterly earnings growth of 45.0%

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EMLENTON, Pa., July 19, 2019 (GLOBE NEWSWIRE) – The mum or dad company of Emlenton's father or mother firm, Emclaire Financial Corp. (NASDAQ: EMCF), introduced that the web revenue obtainable to the Group's shareholders was $ 2.zero million. or $ 0.75 per diluted widespread share, for the three months ended June 30, 2019, a rise of $ 636,000, or 45.0 %, from $ 1.4 million, or € 0.62 per diluted widespread share reported within the comparison interval 2018. Common Internet Revenue The shareholders in the course of the six-month interval ended June 30, 2014 have been $ four.1 million, or $ 1.52 per diluted widespread share, an increase of $ 1.four million, or 48.8 %, of $ 2.eight million, or $ 1.21 diluted widespread share per quarter for the same period in 2018 Earnings growth on a quarterly and up-to-date basis was largely attributable to the acquisition of First Bancorp, Inc. ("Community First") by the entity in October 2018.

Internet revenue growth for each durations compared to similar period in 201 8 the increase in interest revenue and the decrease within the provision for credit score losses, which I know In this case, the interest is compensated with out curiosity prices, revenue tax provisions and first dividend revenue. The company realized an annual return on common belongings of zero.96% and an annual return on common equity of 10.45% for the quarter ended June 30, 2019, in comparison with the identical period in 2018 and zero.74% and 9.58%, respectively. 19659002] Chairman of the Board of Directors and CEO, William C. Marsh, stated: “We are very pleased with the results of the first half of 2019 in the board, management and I. have made our franchise growth through de Novo operations, and the entire bank's acquisitions continue to deliver strong financial results, including significant returns, and provide a solid foundation for profitable growth and a good shareholder. ”

OVERVIEW OF OPERATING RESULT [19659002] Internet revenue out there to basic shareholders increased $ 636,000, or 45.0%, to € 2.zero million. , 2019, compared to $ 1.four million in internet revenue, or $ zero.62 per diluted widespread share, for a similar period in 2018. The increase was because of a rise in internet interest and interest revenue of $ 891,000 and $ 82,000 and a lower of $ 30,000 in loan loss provisions. usually are not curiosity bills, revenue taxes and preferential dividends of $ 85,000, $ 191,000, and $ 91,000.

Internet curiosity revenue elevated to $ 891,000, or 14.four %, to $ 7.1 million for 3 months ended June 30, 2019, from $ 6.2 million for the same period in 2018. Internet curiosity revenue grew by $ 1.5 million in curiosity revenue, up 20.5 %, resulting from a $ 109.4 million improve in the average. outstanding loans. Interest revenue from interest rates grew partially, interest bills increased by $ 629,000, or 50.6 %, as the typical stability of interest-bearing deposits and borrowed funds grew by $ 64.6 million and $ 14.3 million, respectively. The increase in the Group's loans and interest-bearing deposits was primarily because of the acquisition of First First, which increased loans to some USD 111.6 million and deposits to the financial institution by EUR 106.1 million.

The quantity of credit losses decreased by $ 30,000, or 10.zero%, to $ 270,000 for three months ending 30 June 2019 from $ 300,000 for a similar period in 2018.

Interest revenue increased by $ 82,000, or 7.eight % To $ 1.1 million for the three months ended June 30, 2019, from $ 1.zero million in the same period in 2018. Fees and repair fees elevated by $ 73,000, primarily attributable to the operation of new full-service financial institution workplaces acquired from the Group's first and common account charges.

Non-interest bills increased by $ 85,000 or 1.6% to $ 5.3 million over three months ending June 30, 2019, from $ 5.2 million in the identical period in 2018. Increased growth was mainly resulting from paid claims and advantages. , different non-interest bills and operating and hardware prices of $ 266,000, $ 227,000, and $ 82,000. The increases referring to the above-mentioned prices of new financial institution workplaces and the traditional salary, in addition to benefits and operating bills, are growing. Partial set-off of these increases, acquisition prices and professional charges decreased by $ 358,000 and $ 89,000, respectively.

Revenue tax provisions elevated by $ 191,000, or 67.5 % to $ 473,000 for the three months ended June 30, 2019, from $ 282,000 for a similar interval in 2018 consequently of internet revenue growth earlier than taxes.

CONSOLIDATED ANNUAL REPORT OPERATING PERFORMANCE OVERVIEW

Shareholders' internet disposable revenue elevated by $ 1.four million, or 48.8%, to $ four.1 million or $ 1.52 per diluted widespread stock for the six months ended June 30, 2019. in comparison with $ 2.8 million in internet revenue, $ 1.21 per diluted share in the identical interval in 2018. The increase was because of internet interest revenue and curiosity revenue growth of $ 2.3 million and $ 242,000, and $ 230,000 in reserve. Credit score losses, partly compensated by non-interest-bearing interest, revenue taxes and preferential dividends of $ 908,000, $ 381,000, and $ 91,000.

Internet curiosity revenue increased by $ 2.3 million, or 18.8 % to $ 14.3 million in six months ended June 30, 2019, from $ 12.zero million in the identical period in 2018. Internet curiosity revenue growth was as a consequence of an increase in curiosity revenue of $ 3.5 million at $ 117, up 24.four % from $ 117. The typical mortgage stability increased by EUR 0 million. Curiosity revenue from interest rates grew partially, interest expenses rose by $ 1.three million, or 52.4%, as the typical stability of interest-bearing deposits and borrowed funds elevated by $ 70.0 million and $ 17.1 million, respectively. The Group's mortgage will increase and interest-bearing deposits elevated from robust production in the complete bank's franchise enterprise and the first locally acquired within the fourth quarter of 2018 mentioned above.

Credit score losses decreased to $ 230,000, or 33.eight% to $ 450,000. six months ended June 30, 2019, from $ 680,000 for the same interval in 2018. In the course of the six months ended June 30, 2018, the supply for credit score losses was greater because of the normal credit score repayments within the first half of 2018.

Curiosity revenue increased to $ 242,000, or 12.four %, to $ 2.2 million for the six months ended June 30, 2019, from $ 1.9 million in the same period in 2018. Fees and repair expenses elevated to $ 191,000, primarily related to the new full service enterprise. Service Banking and Common Billing Credit Revenue

Non-interest expenses elevated by $ 908,000, or 9.1 %, to $ 10.9 million in the course of the six months ended June 30. $ 201 million from 2019 over the same period in 2018. The rise was mainly on account of larger alternative and profit costs, other non-interest bills and occupancy charges and gear costs of $ 730,000, $ 489,000 and $ 198,000. The will increase referring to the above-mentioned prices of new financial institution workplaces and the traditional salary, as well as benefits and working bills, are growing. The partial equalization of these will increase, acquisition costs, professional charges and amortization of intangible belongings decreased by $ 358,000, $ 84,000 and $ 46,000.

The amount of revenue taxes increased by $ 381,000, or 69.5 % to $ 929,000 for the six months ended June 30, 2019, to $ 548,000 for the same period in 2018 with internet revenue growth before taxes.

CONSOLIDATED FINANCIAL STATEMENTS AND BALANCE SHEET

Complete belongings elevated by $ 10.1 million or 1.1 % to $ 909.zero million as of June 30, 2019, from $ 898.9 million on December 31, 2018. cash and cash equivalents, interest-bearing deposits and $ 20.5 million, $ three.2 million and $ 2.7 million, which partly offset the decline of $ 16.eight million in internet loans. Liabilities increased by $ 5.7 million to $ 824.6 million as of June 30, 2019, from $ 818.9 million as of December 31, 2018, as customer deposits elevated by $ 16.1 million, partly offset by a $ 11.three million lower in borrowed funds [19659018]. EUR million to EUR 6.three million, or zero.70 % of complete belongings on June 30, 2019, in comparison with $ 3.7 million, or 0.42 % of complete belongings on December 31, 2018. This improve was mainly on account of a one-off position reduction of one $ 2.four million business property loan in the course of the monetary yr.

Shareholders' equity elevated by $ 4.3 million, or 5.4 %, to $ 84.4 million as of June 30, 2019, from $ 80.zero million on December 31, 2018, primarily on account of a $ 2.four million improve in retained earnings. was a internet revenue of $ 4.2 million. partially offset $ 1.7 million in widespread dividends. In addition, different comprehensive revenue elevated by $ 1.8 million. The company stays nicely capitalized and is properly placed to proceed its growth with shareholders' equity of 9.three% of complete belongings. The e-book value of atypical shares was $ 29.70 on 30 June 2019 compared to $ 28.09 on December 31, 2018.

This text might include forward-looking statements as outlined in the 1995 Personal Securities Settlement Act. might include words comparable to "believe", "wait", "anticipate", "evaluate", "should", "can", "can", "want", "view", "project", "look" or the like expressions. Such forward-looking statements are topic to risks and uncertainties that can cause a big distinction in precise results resulting from present anticipated elements. Such elements embrace, but aren’t limited to, modifications in interest rates which will affect internet interest margins and internet curiosity revenue, the likelihood that increased demand or costs might not end in modifications in the Group's monetary providers and products, altering financial and aggressive circumstances, technological and regulatory modifications, and different risks and uncertainties. together with these described in the firm's securities and stock trade committee knowledge. The Company assumes no liability or expressly waives any obligation to update forward-looking statements to mirror events or sudden occasions or circumstances after the date of these announcements

INVESTOR RELATIONS CONTACT:
William C. Marsh
Chairman and Chairman ] Telephone: (844) 800-2193
E-mail: investor.relations@farmersnb.com

EMCLAIRE FINANCIAL CORP
Consolidated Financial Statements
(unaudited – in hundreds of hundreds except share info)
Consolidated earnings : Over a three-month period Six months [19659029] ended June 30, ended June 30, 2019 2018 2019 2018 [19659054] Interest Revenue $ eight,954 $ 7,434 $ $ [1965911] $ [19659914] ] Interest expense 1,872 1,243 [19659114] 1,243 [19659114] ] 3,644 [1965911] 2,392 Internet Interest Revenue 7,082 14,302 12,037 Luottot

270 19659028] 300

450 [1965994] 680 ] 1.049 2.188 1,947 1,947 [1965911] 1,947 [1965911] 5330

5245 [19659] 032] 10889 9981 Revenue Before Revenue Taxes 2,613 1,695 ] 3,323 Revenue Tax Reserves 473 [282 282 929 548 [19659051] Internet Revenue 2 140 ] four 222 2,775 Low cost Dividends ] 91 19659044] – 91 ] – Internet Revenue of Common Shareholders $ 2049 $ 1413 $ 4131 $ 2775 [19659028] Basi c earnings per share $ zero, 76 $ zero.62 $ 1.22 Diluted Earnings Per Share $ zero.75 $ 0.62 0.62 zero.62 0.62 $ 1.52 $ ] 1.21 Dividend per share $ 0.19 0.19 0.19 19659028] $ zero.28 [19659914] $ 0.58 $ 0.56 19659028] zero.96 % [19659028] 0.74 % 0.95 % 0.74 % % [196590] 43]] 10.36 % 9.58 % 10.41 % 9, 48 % Common Return on Fairness (1) 10.45 % 9.58 % 19659074] 10 , 74 % 9.48 % Average yield on interest-bearing belongings 4.35 4.35 four.18 % four.40 % 4.13 % The typical interest-bearing debt value [19659037] 1.16 % zero.87 [1 9659028]% 1.13 % 0.86 % ] Fund Value zero.71 % zero.92 % zero , 70 [19659134]% % % 19659028] three.45 % 3.48 % ] three.51 % 3.45 % Efficacy ratio 63.95 % 71.00 % ]% 69.84 % [19659074] is calculated for the durations reported annually PRESS RELEASE: from 6/30/2019 12/31/2018 Complete Belongings 908 950 908 950 898,875 Money and Equivalents 31,456 10955 Securities Securities 97,725 Loans, Internet 691,941 708,664] Deposits 777,606 761,546 Borrowed Funds 34 050 ] 34,050 34,050 45,350 Shareholders 'Equity 80,151 75,802 To Shareholders' Fairness 19659043] 19659074] 84357 80008 E-book value per widespread share $ 29.70 ] [19659114] $ 28.09 Internet Lending Deposits 88.98 % ] 93.06 93.06 93.06 The entire amount of mortgage losses on loans 0.94 % 0.91 % Non-Belongings 19659074] zero.70 % 0.42 % Shareholders equity to complete belongings 9.28 9.28 % 8.90 % [19659151] Particular Stock Shares 2,698,712 2 698 712 2 698 712