CLEARWATER, Fla. (Nov. 17, 2014) –USAmeriBancorp, Inc., the parent company of Florida-based USAmeriBank and Alabama-based Aliant Bank, marked another period of solid performance in the third quarter of 2014.
Consolidated core net income available to common shareholders for the third quarter of 2014 was $7.2 million, compared with $12.8 million in the year-ago period. On a diluted per common share basis, earnings for the third quarter were $0.73, compared to $1.33 in the third quarter of 2013.
In comparing year-over-year performance, it’s important to note that the third quarter 2013 results included a $0.61 increase in diluted earnings per common share as a result of the sale of Connelly, Carlisle, Fields & Nichols insurance division, as well as a one-time gain on the sale of a pool of loans. These transactions combined contributed $5.8 million in after-tax income to the 2013 third-quarter results.
Book value grew by 11.8 percent to $23.59 in the third quarter of 2014, compared to $21.10 in the year-ago period. And USAmeriBancorp’s asset quality remains high. The company’s results of operations for the third quarter produced an annualized return on average assets of 1.02 percent, compared to 1.91 percent in the year-ago period.
“We’re confident in our economic outlook as we look towards 2015,” said Joseph V. Chillura, President and CEO of USAmeriBank. “The economy in Florida continues to improve, and we’re positioned to help people start and grow their businesses.”
USAmeriBank is an independent, non-public bank based in Clearwater, Fla. that has established itself as an outstanding middle-market financial institution. The bank serves the needs of individuals and businesses in the Tampa Bay area by providing a high-level of personalized service and attention to a targeted customer base. USAmeriBank’s parent company is USAmeriBancorp, Inc. More information is available at www.USAmeriBank.com.