Apollo Bancorp, Inc. 2022 First Quarter Earnings

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

FOR IMMEDIATE RELEASE

Apollo, PA—April 13, 2022:  Apollo Bancorp, Inc. (OTC Pink: APLO) the parent company of Apollo Trust Company reported net income for the quarter ended March 31, 2022 of $411,000, or $0.79 per share, compared with first quarter 2021 earnings of $455,000, or $0.88 per share.  The decrease in net income is primarily a result of a $62,000 increase in noninterest expense offset by a $13,000 increase in noninterest income compared with first quarter 2021.

During the first quarter of 2022, annualized return on average assets (ROA) of 0.89% and annualized return on average equity (ROE) of 7.24% were reported.  Deposit balances increased $6.5 million, or 4.2%, during the first quarter of 2022, and total assets were $188 million at March 31, 2022.

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