HOPKINSVILLE, Ky. (October 31, 2016) – HopFed Bancorp, Inc. (NASDAQ: HFBC) (the “Company”), the holding company for Heritage Bank USA, Inc. (the “Bank”), today reported results for the three and nine month periods ended September 30, 2016. For the three month period ended September 30, 2016, the Company reported net income of $985,000, or $0.16 per share, basic and diluted, compared to net income of $510,000, or $0.08 per share basic and diluted, for the three month period ended September 30, 2015. For the nine month periods ended September 30, 2016, the Company’s net income was $1.8 million, or $0.29 per share basic and diluted. For the nine month period ended September 30, 2015, the company’s net income was $1.7 million, or $0.27 per share, basic and diluted.
Commenting on the third quarter results, John E. Peck, President and Chief Executive Officer, said, “The Company experienced net loan growth of $18.3 million during the three month period ended September 30, 2016. The Company’s Nashville loan production office has originated loans with balances totaling $39.5 million at September 30, 2016, as compared to $23.3 million at June 30, 2016, and $7.8 million at September 30, 2015. Our loan pipeline remains robust. In addition to commercial loan growth, our secondary market loan operation continues to find success. In October 2016, we opened a loan production office in Brentwood, Tennessee, that enhances both our secondary market and portfolio lending in the attractive Williamson County, Tennessee market.” Mr. Peck concluded.
(Click here to read the full press release)
Top of Page