Apollo Bancorp, Inc. 2023 First Quarter Earnings

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


Apollo, PA—April 12, 2023:  Apollo Bancorp, Inc. (OTC Pink: APLO), the parent company of Apollo Trust Company, reported net income for the quarter ended March 31, 2023 of $408,000, or $0.78 per share, compared with first quarter 2022 earnings of $411,000, or $0.79 per share.  Net interest income increased by $189,000 and was offset by a $192,000 increase in noninterest expenses period over period.

Loan balances increased $3.0 million, or 1.9%, and deposits decreased $1.2 million, or 0.8%, during the first quarter of 2023. Total assets were $187 million at March 31, 2023.  During the first quarter of 2023, annualized return on average assets (ROA) of 0.88% and annualized return on average equity (ROE) of 7.28% were reported.

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.

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