Apollo Bancorp, Inc. 2022 Second Quarter Earnings
Contact: Nelson L. Person
President & CEO
Tel. (724) 478-6101
FOR IMMEDIATE RELEASE
Apollo, PA—July 20, 2022: Apollo Bancorp, Inc. (OTC Pink: APLO), the parent company of Apollo Trust Company, reported net income for the quarter ended June 30, 2022 of $490,000, or $0.94 per share, compared with second quarter 2021 earnings of $498,000, or $0.95 per share. The Company reported an increase in noninterest expense of $102,000 compared with second quarter 2021 offset by a $63,000 increase in noninterest income. Net interest income increased $33,000 primarily due to a $30,000 increase in interest income.
Loan growth continued during the second quarter of 2022 with a $1.6 million net increase. Total assets were $184 million at quarter end.
Annualized return on average assets (ROA) of 1.00% and annualized return on average equity (ROE) of 8.03% were reported for the six months ended June 30, 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