WYALUSING, Pa., Aug. 7, 2012 /PRNewswire/ -- Anthony J. Gabello, President and Chief Executive Officer of Peoples LTD, holding company for Peoples State Bank of Wyalusing, has announced second quarter results. Net income for the second quarter 2012 of $638,000, or $1.41 earnings per share compared to second quarter of 2011 in the amount of $373,000 or $.82 per share. Year to date income of $1,246,000, or $2.75 earnings per share, reflects an 82% increase over the same period 2011 of $686,000 or $1.51 earnings per share.
Return on assets was 1.05% for the quarter ending June 30, 2012 compared to 0.62% for the same period 2011. Year to date return on assets was 1.04% as of June 30, 2012 compared to 0.58% for the same period in 2011. Return on equity was 12.40% quarter ending June 30, 2012 compared to 8.11% as of June 30, 2011. Year to date return on equity was 12.21% as of June 30, 2012 compared to the prior year of 7.51%.
Total assets increased to $240,132,000 or 1.77% from December 31, 2011 of $236,121,000. Deposits increased 1.44% to $209,079,000 compared to $206,447,000 as of December 31, 2011. Loans increased 6.38% to $154,423,000 from $145,158,000 year ending 2011.
Note: This press release may contain forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. These factors include operating, legal and regulatory risks; changing economic and competitive conditions and other risks and uncertainties.
Peoples LTD is the holding company for Peoples State Bank of Wyalusing. Peoples State Bank is an independent community bank, established 1914, with branch locations throughout Bradford, Sullivan and Wyoming Counties. Stock of Peoples LTD is traded in the Over-the-Counter market under the symbol PPLL. Learn more about Peoples State Bank at www.peoplesbankpa.com.
SOURCE Peoples LTD