Apollo Bancorp, Inc. 2021 Second Quarter Earnings

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

FOR IMMEDIATE RELEASE

Apollo, PA—July 21, 2021:  Apollo Bancorp, Inc. (OTC Pink: APLO), the parent company of Apollo Trust Company, reported net income for the quarter ended June 30, 2021 of $498,000, or $0.96 per share, compared with second quarter 2020 earnings of $450,000, or $0.87 per share.  The Company reported an increase in noninterest income of $60,000 compared with second quarter 2020 primarily due to growth in service charge income on deposit accounts. Net interest income increased $11,000 primarily due to an $18,000 decrease in interest expense.

Notable balance sheet growth occurred during the second quarter of 2021 as retail deposits increased $5 million to $154 million. Total assets were $179 million at quarter end.

Annualized return on average assets (ROA) of 1.10% and annualized return on average equity (ROE) of 8.52% were reported for the six months ended June 30, 2021.

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