Community Investors Bancorp Inc (CIBN) 10.3000 $CIBN
Community Investors Bancorp, Inc. Reports Net Income For The Nine Months and Three Months Ended March 31, 2015
PR Newswire - Fri May 01, 11:21AM CDT
Community Investors Bancorp, Inc. (Pink Sheets: CIBN), parent company of First Federal Community Bank of Bucyrus, reported net earnings available to common shareholders of $583,000, or $.73 per common share for the nine months ended March 31, 2015, representing an increase of $280,000 (92.4%), compared to the net earnings of $303,000, or $.38 per common share reported for the nine months ended March 31, 2014. The increase in 2015 earnings reflects an increase in net interest income of $429,000 (13.3%) and an increase in other income of $417,000 (50.7%). This was partially offset by an increase in general, administrative and other expenses of $322,000 (9.7%), and an increase in provision for losses on loans of $98,000 (31.9%). The increase in net interest income reflects the approximate 7.5% growth in our loan portfolio coupled with continuing low deposit and FHLB advance rates. Continued growth and success of our sold loans program drove both the increase in other income as well as the increase in general, administrative and other expenses. The provision for loan losses reflects our aggressive recognition and cleanup of troubled credits. Increased professional, consulting fees related to cyber security, additional regulatory and compliance costs and other loan administration expenses also contributed to the increase in general, administrative and other expenses. Our classified assets held steady. We continue to proactively assist those with distressed situations but recognize losses on a timely basis and move quickly to recover as much as we can. Bank-owned properties have been maintained at very low levels. We continue to seek new opportunities and customers in all of our markets. The slow recovery of the housing market in the area has encouraged us to continue to expand our reach in mortgage loan origination and sales in our loan origination offices in central and northeast Ohio. We have plans to enhance customer service through new and better online technology. We expect to continue to increase profitability, with the help of all of our associates through controlled growth and additional operational efficiency.
Benefits Top $11m Since Start of ISO's Energy Imbalance Market
Marketwired - Thu Apr 30, 11:54AM CDT
California Independent System Operator (ISO) analysis of the first quarter of 2015 shows that the gross benefits of the Energy Imbalance Market (EIM) reached $5.26 million, bringing the total gross benefits for western real-time energy market to more than $11 million.
Community Investors Bancorp, Inc. Reports Net Income For The Six Months and Three Months Ended December 31, 2014
PR Newswire - Tue Feb 17, 3:30PM CST
Community Investors Bancorp, Inc. (Pink Sheets: CIBN), parent company of First Federal Community Bank of Bucyrus, reported net earnings available to common shareholders of $347,000, or $.44 per common share for the six months ended December 31, 2014, representing an increase of $117,000, (50.9%), compared to the net earnings of $230,000, or $.29 per common share reported for the six months ended December 31, 2013. The increase in 2014 earnings reflects an increase in net interest income of $357,000 (16.9%) and an increase in other income of $167,000 (27.5%). This was partially offset by an increase in general, administrative and other expenses of $281,000 (12.9%), and an increase in provision for losses on loans of $62,000 (29.6%). The increase in net interest income reflects the approximate 11% growth in our loan portfolio coupled with continuing low deposit and FHLB advance rate. Other income increased due mainly to our sold loans program. The provision for loan losses reflects continuing cleanup of troubled credits. General, administrative and other expenses increased due to expansion of our sold loans operations to additional locations as well as increased professional and consulting fees related to cyber security, additional regulatory and compliance costs and other loan administration expenses. Our classified assets continue to decrease as we proactively assist those with distressed situations but recognize losses on a timely basis and move quickly to resolve those issues. Bank-owned properties have been reduced to our lowest levels in several years. We continue to seek new opportunities and customers in all of our markets. As the slow recovery of the economy continues we are poised to provide our customers with the services they will want.. We have raised the expectations for ourselves and our associates to make the changes required to achieve a higher level of profitability, through controlled growth and additional operational efficiency.
Community Investors Bancorp, Inc. Reports Net Earnings For The Three Months Ended September 30, 2014
PR Newswire - Tue Dec 02, 11:53AM CST
Community Investors Bancorp, Inc. (Pink Sheets: CIBN), parent company of First Federal Community Bank of Bucyrus, reported net earnings of $227,000, or $.29 per basic share, for the quarter ended September 30, 2014, representing an increase of $73,000, (47.4%), compared to the net earnings of $154,000, or $.19 per basic share, reported for the quarter ended September 30, 2013. The increase in 2014 earnings reflects an increase in net interest income of $205,000 (20.1%) and an increase in other income of $53,000 (13.8%). This was partially offset by an increase in general, administrative and other expense of $116,000 (10.8%) and an increase in provision for loan loss of $31,000 (27.9%). The increase in net interest income reflects the growth in our loan portfolio, some improvement in nonaccruals as well as continuing low deposit and borrowing rates. General, administrative and other expenses remain high as we continue to upgrade our systems to ensure our preparedness for disaster recovery and we continue to expand our secondary market operations. The provision for loan losses reflects continuing cleanup of troubled credits as well as positioning the Bank for eventual changes in our model for calculation of allowance for doubtful accounts. Our classified assets have improved but remain stubbornly high. Through working with our distressed loan customers who make good faith efforts at repayment, we have had success in avoiding foreclosures. We also continue to aggressively write down our past due loans to recognize the losses as soon as they are reasonably estimable. Loan administration costs, regulatory compliance expense, and professional expenses related to upgrading our systems remain very high. Other income increases resulted from our gains on sales of mortgages into the secondary market. Our geographic reach now extends into Florida with a new secondary mortgage loan production office and we will continue to explore other opportunities for growth and expansion. We have started to see results and continue to challenge ourselves and our associates to attain a high level of profitability, through additional controlled growth and operational efficiency.
CyberFuels, Inc. "Singular 96(TM)" Certified by California Independent Laboratory for Measures of MPG, Performance, and Environmental Impact
Marketwired - Fri Oct 31, 8:50AM CDT
EncounterCare Solutions, Inc.'s (PINKSHEETS: ECSL) subsidiary, CyberFuels, Inc., is pleased to announce that Olsen Ecologic Engine Testing Laboratories, an EPA certified laboratory, headquartered in Fullerton, California, has independently tested and certified the results of Singular 96(TM) in the areas of Performance, Miles Per Gallon and Exhaust Emissions. The results of these tests can be viewed on the CyberFuels, Inc. web site WWW.CYBERFUELSINC.COM.
Connections Are Key For Independent Living Centers To Increase Employment Options For Californians With Disabilities
PR Newswire - Wed Oct 22, 4:00PM CDT
For the first time since July 2008, the nation's unemployment rate dropped below 6 percent. While this is welcome news for many jobseekers, Californians with disabilities continue to encounter barriers to employment. Topping the list are employer bias and unreliable or non-existent transportation. California Independent Living Centers (ILCs), such as Resources for Independence Central Valley (RICV) and Disability Resource Agency for Independent Living (DRAIL), work together to eliminate these barriers by educating employers and connecting people with disabilities to agencies, programs and services that increase their employment opportunities and help them live independently.
Distinguished Keynote Speakers Kick off 2014 OATI Energy Conference
PRWeb - Tue Oct 14, 2:40PM CDT
Open Access Technology International, Inc. (OATI) opened its 2014 OATI Energy Conference at the Cosmopolitan of Las Vegas on October 14, 2014. The first day of the Conference commenced with influential energy industry leaders examining the future of the energy industry, as well as other topics surrounding the 2014 theme "Smarter Power - Intelligent Industry."
DUK: 76.15 (+0.66)
Community Investors Bancorp, Inc. Reports Net Earnings For The Year and Three Months Ended June 30, 2014
PR Newswire - Mon Aug 25, 9:19AM CDT
Community Investors Bancorp, Inc. (Pink Sheets: CIBN), parent company of First Federal Community Bank of Bucyrus, reported net earnings of $465,000, or $.58 per basic share, for the year ended June 30, 2014, representing an increase of $385,000, (481.3%), compared to the net earnings of $80,000, or $.10 per basic share, reported for the year ended June 30, 2013. The increase in 2014 earnings reflects an increase in net interest income of $236,000 (5.7%), a decrease in provision for loan loss of $399,000 (50.0%), and an increase in other income of $42,000 (3.7%). In addition, preferred dividends of $84,000 were eliminated as a result of the redemption of our preferred shares completed in March 2013. This was partially offset by an increase in general, administrative and other expenses of $255,000 (6.0%). The increase in net interest income reflects the expansion of our loan market through our new loan production offices in central Ohio as well as northeast Ohio. The provision for loan losses reflected a large write-off of a troubled credit which occurred in the previous fiscal year ended June 30, 2013. Our classified assets remain at unacceptably high levels, but we have made good progress in reducing those levels. Loan administration costs, regulatory compliance expense, and overhead generated by opening new markets increased our General, administrative and other expenses. Other income increases resulted from our gains on sales of mortgages into the secondary market. As we continue the process of remaking our Bank, our attitude and our profitability, we continue to look for new opportunities to expand our markets. Last year, we expanded our geographic reach into northeast Ohio and southwest Columbus with new secondary mortgage loan production offices. We have raised the expectations for our shareholders, ourselves and our associates to reach a high level of profitability, through controlled growth, improved operational efficiency and effective risk management.
California ISO Regional EIM Committee Meets, Nominates Chair
Business Wire - Tue Jul 01, 6:51PM CDT
The advisory committee formed in May by the California Independent System Operator Corporation (ISO) Board of Directors to help develop a governance structure for the western regional real-time energy market held its first meeting today and unanimously nominated Rebecca Wagner, Commissioner, Public Utilities Commission of Nevada, as its Chair. The nomination is subject to confirmation by the ISO Board, which is expected to address the item during its July 15-16 meeting.
Community Investors Bancorp, Inc. Reports Net Income For The Nine Months and Three Months Ended March 31, 2015
PR Newswire - Fri May 01, 11:21AM CDT
Community Investors Bancorp, Inc. (Pink Sheets: CIBN), parent company of First Federal Community Bank of Bucyrus, reported net earnings available to common shareholders of $583,000, or $.73 per common share for the nine months ended March 31, 2015, representing an increase of $280,000 (92.4%), compared to the net earnings of $303,000, or $.38 per common share reported for the nine months ended March 31, 2014. The increase in 2015 earnings reflects an increase in net interest income of $429,000 (13.3%) and an increase in other income of $417,000 (50.7%). This was partially offset by an increase in general, administrative and other expenses of $322,000 (9.7%), and an increase in provision for losses on loans of $98,000 (31.9%). The increase in net interest income reflects the approximate 7.5% growth in our loan portfolio coupled with continuing low deposit and FHLB advance rates. Continued growth and success of our sold loans program drove both the increase in other income as well as the increase in general, administrative and other expenses. The provision for loan losses reflects our aggressive recognition and cleanup of troubled credits. Increased professional, consulting fees related to cyber security, additional regulatory and compliance costs and other loan administration expenses also contributed to the increase in general, administrative and other expenses. Our classified assets held steady. We continue to proactively assist those with distressed situations but recognize losses on a timely basis and move quickly to recover as much as we can. Bank-owned properties have been maintained at very low levels. We continue to seek new opportunities and customers in all of our markets. The slow recovery of the housing market in the area has encouraged us to continue to expand our reach in mortgage loan origination and sales in our loan origination offices in central and northeast Ohio. We have plans to enhance customer service through new and better online technology. We expect to continue to increase profitability, with the help of all of our associates through controlled growth and additional operational efficiency.
Benefits Top $11m Since Start of ISO's Energy Imbalance Market
Marketwired - Thu Apr 30, 11:54AM CDT
California Independent System Operator (ISO) analysis of the first quarter of 2015 shows that the gross benefits of the Energy Imbalance Market (EIM) reached $5.26 million, bringing the total gross benefits for western real-time energy market to more than $11 million.
Community Investors Bancorp, Inc. Reports Net Income For The Six Months and Three Months Ended December 31, 2014
PR Newswire - Tue Feb 17, 3:30PM CST
Community Investors Bancorp, Inc. (Pink Sheets: CIBN), parent company of First Federal Community Bank of Bucyrus, reported net earnings available to common shareholders of $347,000, or $.44 per common share for the six months ended December 31, 2014, representing an increase of $117,000, (50.9%), compared to the net earnings of $230,000, or $.29 per common share reported for the six months ended December 31, 2013. The increase in 2014 earnings reflects an increase in net interest income of $357,000 (16.9%) and an increase in other income of $167,000 (27.5%). This was partially offset by an increase in general, administrative and other expenses of $281,000 (12.9%), and an increase in provision for losses on loans of $62,000 (29.6%). The increase in net interest income reflects the approximate 11% growth in our loan portfolio coupled with continuing low deposit and FHLB advance rate. Other income increased due mainly to our sold loans program. The provision for loan losses reflects continuing cleanup of troubled credits. General, administrative and other expenses increased due to expansion of our sold loans operations to additional locations as well as increased professional and consulting fees related to cyber security, additional regulatory and compliance costs and other loan administration expenses. Our classified assets continue to decrease as we proactively assist those with distressed situations but recognize losses on a timely basis and move quickly to resolve those issues. Bank-owned properties have been reduced to our lowest levels in several years. We continue to seek new opportunities and customers in all of our markets. As the slow recovery of the economy continues we are poised to provide our customers with the services they will want.. We have raised the expectations for ourselves and our associates to make the changes required to achieve a higher level of profitability, through controlled growth and additional operational efficiency.
Community Investors Bancorp, Inc. Reports Net Earnings For The Three Months Ended September 30, 2014
PR Newswire - Tue Dec 02, 11:53AM CST
Community Investors Bancorp, Inc. (Pink Sheets: CIBN), parent company of First Federal Community Bank of Bucyrus, reported net earnings of $227,000, or $.29 per basic share, for the quarter ended September 30, 2014, representing an increase of $73,000, (47.4%), compared to the net earnings of $154,000, or $.19 per basic share, reported for the quarter ended September 30, 2013. The increase in 2014 earnings reflects an increase in net interest income of $205,000 (20.1%) and an increase in other income of $53,000 (13.8%). This was partially offset by an increase in general, administrative and other expense of $116,000 (10.8%) and an increase in provision for loan loss of $31,000 (27.9%). The increase in net interest income reflects the growth in our loan portfolio, some improvement in nonaccruals as well as continuing low deposit and borrowing rates. General, administrative and other expenses remain high as we continue to upgrade our systems to ensure our preparedness for disaster recovery and we continue to expand our secondary market operations. The provision for loan losses reflects continuing cleanup of troubled credits as well as positioning the Bank for eventual changes in our model for calculation of allowance for doubtful accounts. Our classified assets have improved but remain stubbornly high. Through working with our distressed loan customers who make good faith efforts at repayment, we have had success in avoiding foreclosures. We also continue to aggressively write down our past due loans to recognize the losses as soon as they are reasonably estimable. Loan administration costs, regulatory compliance expense, and professional expenses related to upgrading our systems remain very high. Other income increases resulted from our gains on sales of mortgages into the secondary market. Our geographic reach now extends into Florida with a new secondary mortgage loan production office and we will continue to explore other opportunities for growth and expansion. We have started to see results and continue to challenge ourselves and our associates to attain a high level of profitability, through additional controlled growth and operational efficiency.
CyberFuels, Inc. "Singular 96(TM)" Certified by California Independent Laboratory for Measures of MPG, Performance, and Environmental Impact
Marketwired - Fri Oct 31, 8:50AM CDT
EncounterCare Solutions, Inc.'s (PINKSHEETS: ECSL) subsidiary, CyberFuels, Inc., is pleased to announce that Olsen Ecologic Engine Testing Laboratories, an EPA certified laboratory, headquartered in Fullerton, California, has independently tested and certified the results of Singular 96(TM) in the areas of Performance, Miles Per Gallon and Exhaust Emissions. The results of these tests can be viewed on the CyberFuels, Inc. web site WWW.CYBERFUELSINC.COM.
Connections Are Key For Independent Living Centers To Increase Employment Options For Californians With Disabilities
PR Newswire - Wed Oct 22, 4:00PM CDT
For the first time since July 2008, the nation's unemployment rate dropped below 6 percent. While this is welcome news for many jobseekers, Californians with disabilities continue to encounter barriers to employment. Topping the list are employer bias and unreliable or non-existent transportation. California Independent Living Centers (ILCs), such as Resources for Independence Central Valley (RICV) and Disability Resource Agency for Independent Living (DRAIL), work together to eliminate these barriers by educating employers and connecting people with disabilities to agencies, programs and services that increase their employment opportunities and help them live independently.
Distinguished Keynote Speakers Kick off 2014 OATI Energy Conference
PRWeb - Tue Oct 14, 2:40PM CDT
Open Access Technology International, Inc. (OATI) opened its 2014 OATI Energy Conference at the Cosmopolitan of Las Vegas on October 14, 2014. The first day of the Conference commenced with influential energy industry leaders examining the future of the energy industry, as well as other topics surrounding the 2014 theme "Smarter Power - Intelligent Industry."
DUK: 76.15 (+0.66)
Community Investors Bancorp, Inc. Reports Net Earnings For The Year and Three Months Ended June 30, 2014
PR Newswire - Mon Aug 25, 9:19AM CDT
Community Investors Bancorp, Inc. (Pink Sheets: CIBN), parent company of First Federal Community Bank of Bucyrus, reported net earnings of $465,000, or $.58 per basic share, for the year ended June 30, 2014, representing an increase of $385,000, (481.3%), compared to the net earnings of $80,000, or $.10 per basic share, reported for the year ended June 30, 2013. The increase in 2014 earnings reflects an increase in net interest income of $236,000 (5.7%), a decrease in provision for loan loss of $399,000 (50.0%), and an increase in other income of $42,000 (3.7%). In addition, preferred dividends of $84,000 were eliminated as a result of the redemption of our preferred shares completed in March 2013. This was partially offset by an increase in general, administrative and other expenses of $255,000 (6.0%). The increase in net interest income reflects the expansion of our loan market through our new loan production offices in central Ohio as well as northeast Ohio. The provision for loan losses reflected a large write-off of a troubled credit which occurred in the previous fiscal year ended June 30, 2013. Our classified assets remain at unacceptably high levels, but we have made good progress in reducing those levels. Loan administration costs, regulatory compliance expense, and overhead generated by opening new markets increased our General, administrative and other expenses. Other income increases resulted from our gains on sales of mortgages into the secondary market. As we continue the process of remaking our Bank, our attitude and our profitability, we continue to look for new opportunities to expand our markets. Last year, we expanded our geographic reach into northeast Ohio and southwest Columbus with new secondary mortgage loan production offices. We have raised the expectations for our shareholders, ourselves and our associates to reach a high level of profitability, through controlled growth, improved operational efficiency and effective risk management.
California ISO Regional EIM Committee Meets, Nominates Chair
Business Wire - Tue Jul 01, 6:51PM CDT
The advisory committee formed in May by the California Independent System Operator Corporation (ISO) Board of Directors to help develop a governance structure for the western regional real-time energy market held its first meeting today and unanimously nominated Rebecca Wagner, Commissioner, Public Utilities Commission of Nevada, as its Chair. The nomination is subject to confirmation by the ISO Board, which is expected to address the item during its July 15-16 meeting.
