Apollo Bancorp, Inc. 2021 First Quarter Earnings

Contact: Nelson L. Person
President & CEO
Tel. (724) 478-6101

FOR IMMEDIATE RELEASE

Apollo, PA—April 14, 2021:  Apollo Bancorp, Inc. (OTC Pink: APLO) the parent company of Apollo Trust Company reported net income for the quarter ended March 31, 2021 of $455,000, or $0.88 per share, compared with first quarter 2020 earnings of $305,000, or $0.59 per share.  The Company reported an increase in net interest income of $16,000 compared with first quarter of 2020 primarily due to a $30,000 increase in interest and fees on loans, a $57,000 decrease in interest expense, offset by a $70,000 decrease in interest and dividends on investment securities.

Noninterest income increased $160,000 compared with first quarter 2020 during which time the fair value of equity securities was affected by early-pandemic market volatility.

During the first quarter of 2021, annualized return on average assets (ROA) of 1.07% and annualized return on average equity (ROE) of 8.18% were reported.  Total assets were $175 million at quarter end.

Separately, Apollo Trust Company elected Stephanie A. Embry Vice President, Retail and Chief Banking Officer, and Joyce M. Corbin was elected Assistant Secretary/Assistant Treasurer.

Apollo Bancorp, Inc. common stock is traded Over-the-Counter on OTC Pink under the symbol APLO.  Recent trades and current bid-ask prices may be viewed at www.otcmarkets.com

Apollo Trust Company operates six banking locations in the Alle-Kiski Valley and a loan office in the Fox Chapel area of Pittsburgh.  It also provides fiduciary services and investment management.

More information is available at the Company’s website:  www.apollotrust.com