LAWRENCEBURG, Ind., Oct. 14, 2011 /PRNewswire/ -- DSA Financial Corporation (OTCBB: DSFN) announced its financial results for the first quarter of fiscal year 2012. For the quarter ended September 30, 2011, the Company recorded net earnings of $277,000 or $0.17 per share. For the quarter ended September 30, 2010, the Company recorded net earnings of $201,000 or $0.13 per share, an increase of $76,000 or 37.8%.
The quarter-to-quarter increase in earnings was attributed primarily to a decrease of $163,000 or 19.1%, in general, administrative and other expense partially offset by a $44,000 or 4.1%, decrease in net interest income, and a $38,000 or 42.7%, increase in income taxes. The decrease in general, administrative and other expense reflected no writedowns of foreclosed real estate whose value had diminished over time. During the quarter ended September 30, 2010, there were $86,000 in writedowns of foreclosed real estate. In addition, expenses relating to the maintaining of real estate owned were $15,000 lower in the quarter ended September 30, 2011 versus the quarter ended September 30, 2010.
DSA Financial reported total assets of $116.2 million at September 30, 2011, total liabilities of $99.3 million, including deposits of $92.2 million and total stockholders' equity of $16.9 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 11, 2011 to stockholders of record as of October 28, 2011.
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
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DSA Financial Corporation
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SOURCE DSA Financial Corporation