BUCYRUS, Ohio, Feb. 2 /PRNewswire-FirstCall/ -- Community Investors Bancorp, Inc. (Pink Sheets: CIBN), parent company of First Federal Community Bank of Bucyrus, reported net earnings of $126,000, or $.14 per basic share, for the six months ended December 31, 2008, representing a decrease of $243,000, or 65.9%, compared to the net earnings of $369,000, or $.42 per basic share, reported for the six months ended December 31, 2007. The decrease in 2008 earnings reflects a $256,000, or 12.4%, decrease in net interest income coupled with an increase in provision for loan loss of $108,000. The reduction in net interest income is a result of lower interest rates earned on both our liquid funds and loans. Loan rates have adjusted more quickly than our borrowing costs and rates paid on liquid funds have fallen to virtually zero as the Federal Reserve has lowered interest rates to historically low levels. As we reduce and re-price our fixed borrowings over the next 12 to 18 months, we expect to see significant reductions in our cost of funds. Prudent banking in these times of economic distress requires us to bolster loan loss reserves. Our Marysville banking center has now been open for more than a year. This is reflected in slightly higher general, administrative and other expenses. However, more than $5.5 million in deposits were added through our Marysville operations as of December 31, 2008. We will continue to search for new opportunities to serve our customers and shareholders, while also looking for opportunities to increase efficiencies, by leveraging the capabilities of our dedicated staff. Community Investors Bancorp, Inc. reported total assets at December 31, 2008, of $142.9 million, total liabilities of $129.7 million, including total deposits of $93.4 million and total stockholders' equity of $13.3 million. As participants in the U.S. Treasury's Capital Purchase Program, Community Investors Bancorp, Inc. has issued $2.6 million, in preferred stock to the U.S. Treasury. This is additional capital available to support lending activities as credit-worthy opportunities present themselves in these difficult economic times. The reduction in FHLB advances reflects our strategy to rely more on customer deposits for our funding while repaying borrowed funds as much as possible based on our needs. Community Investors Bancorp, Inc. CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (In thousands) UNAUDITED December 31, June 30, ASSETS 2008 2008 Cash and cash equivalents $15,225 $13,890 FHLB overnight deposits 2,350 4,600 Investment securities 6,657 5,394 Mortgage-backed securities 3,630 4,509 Loans receivable 107,041 107,246 Interest receivable 824 840 Prepaid federal income tax 65 130 FHLB stock 2,237 2,207 Prepaid expenses 323 441 Fixed assets 4,286 4,343 Other assets 281 293 Total assets $142,919 $143,893 LIABILITIES AND SHAREHOLDERS' EQUITY Deposits $ 93,358 $ 93,142 Advances from the Federal Home Loan Bank 35,500 38,500 Interest payable 275 275 Other liabilities 459 1,095 Deferred federal income tax 65 96 Total liabilities 129,657 133,108 Shareholders' equity 13,262 10,785 Total liabilities and shareholders' equity $142,919 $143,893 Community Investors Bancorp, Inc. CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (In thousands, except share data) UNAUDITED Six months ended Three months ended December 31, December 31, 2008 2007 2008 2007 Total interest income $4,075 $4,582 $1,998 $2,342 Total interest expense 2,269 2,520 1,104 1,303 Net interest income 1,806 2,062 894 1,039 Provision for losses on loans 183 75 124 50 Net interest income after provision for losses on loans 1,623 1,987 770 989 Other income 280 265 148 138 General, administrative and other expense 1,711 1,690 856 811 Earnings before income taxes 192 562 62 316 Federal income taxes 66 193 21 109 NET EARNINGS $126 $369 $41 $207 EARNINGS PER SHARE Basic $0.14 $0.42 $0.05 $0.24 Diluted $0.14 $0.42 $0.05 $0.24 DATASOURCE: Community Investors Bancorp, Inc. CONTACT: Phillip W. Gerber, President of Community Investors Bancorp, Inc., +1-419-562-7055

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