Last $19.28 USD
Change Today -0.22 / -1.13%
Volume 401.0
ASBB On Other Exchanges
Symbol
Exchange
NASDAQ GM
As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

asb bancorp inc (ASBB) Snapshot

Open
$19.35
Previous Close
$19.50
Day High
$19.35
Day Low
$19.28
52 Week High
06/27/14 - $21.96
52 Week Low
09/25/13 - $16.61
Market Cap
84.4M
Average Volume 10 Days
8.1K
EPS TTM
$0.50
Shares Outstanding
4.4M
EX-Date
--
P/E TM
38.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for ASB BANCORP INC (ASBB)

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asb bancorp inc (ASBB) Details

ASB Bancorp, Inc. operates as a bank holding company for Asheville Savings Bank, S.S.B. that provides mortgage, consumer, and commercial banking services primarily in Buncombe, Henderson, McDowell, Transylvania, and Madison counties in North Carolina. The company accepts various deposit products comprising noninterest-bearing demand deposits, such as checking accounts; interest-bearing demand accounts, including negotiable order of withdrawal (NOW) and money market accounts; regular savings accounts; and certificates of deposit. Its loan portfolio comprises real estate mortgage loans, including one-to four-family residential mortgage loans and commercial mortgage loans; and revolving mortgage loans, such as home equity loans and lines of credit. The company also provides consumer loans, construction and land development loans, and commercial and industrial loans. In addition, the company provides non deposit investment products consisting of mutual funds, debt, equity and government securities, retirement accounts, insurance products, and fixed and variable annuities through an agreement with a third-party registered broker-dealer. As of July 28, 2014, it operated through 13 full-service banking centers located in Buncombe, Madison, McDowell, Henderson, and Transylvania counties in western North Carolina; and a loan production office in Charlotte, North Carolina. The company was founded in 1936 and is headquartered in Asheville, North Carolina.

asb bancorp inc (ASBB) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $316.9K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $180.0K
Chief Lending Officer, Executive Vice Preside...
Total Annual Compensation: $180.0K
Chief Information Officer, Executive Vice Pre...
Total Annual Compensation: $151.0K
Chief Retail Officer, Executive Vice Presiden...
Total Annual Compensation: $138.5K
Compensation as of Fiscal Year 2013.

asb bancorp inc (ASBB) Key Developments

ASB Bancorp, Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

ASB Bancorp, Inc. reported consolidated earnings results for the second quarter and six months ended June 30, 2014. The Company reported net income of $941,000, or $0.21 per diluted share, for the quarter ended June 30, 2014, compared to a net loss of $206,000, or $0.04 per diluted share, for the same quarter of 2013. The second quarter of 2013 included an additional $1.2 million pre-tax write-down of the Bank's foreclosed property, which significantly influenced quarterly year-over-year net income and noninterest expense comparisons. Interest and dividend income was $5,771,000 against $5,679,000 a year ago. Net interest income was $4.9 million for the three months ended June 30, 2014 compared to $4.6 million for the three months ended June 30, 2013. Net interest income after provision for loan losses was $6.3 million compared to $4.6 million a year ago. Income before income tax provision was $1,479,000 against loss before income tax benefit of $455,000 a year ago. Return on average assets was 0.50% against negative return on average assets of 0.11% a year ago. Return on average equity was 3.70% against negative return on average equity of 0.77% a year ago. Book value per share increased to $21.06 during the second quarter of 2014 from $20.53 at March 31, 2014 and $20.06 at December 31, 2013. The Company's latest quarterly financial results were positively impacted by a $1.3 million reversal of the Company's provision for loan losses due to improved asset quality. Asset quality was also improved during the quarter by the bulk sale of two floors of residential condominium units of the Company's longstanding foreclosed property. For the six months ended June 30, 2014, the Company reported net income of $1.3 million, or $0.30 per diluted share, up 151.9%, compared to net income of $534,000, or $0.11 per diluted share, for the same period of 2013. Interest and dividend income was $11,512,000 against $11,425,000 a year ago. Net interest income was $9.7 million for the six months ended June 30, 2014 compared to $9.2 million for the six months ended June 30, 2013. Net interest income after provision for loan losses was $11.2 million compared to $9.08 million a year ago. Income before income tax provision was $1,997,000 against $630,000 a year ago. Return on average assets was 0.36% against 0.14% a year ago. Return on average equity was 2.65% against 0.99% a year ago.

ASB Bancorp, Inc. Presents at KBW's 15th Annual Community Bank Investor Conference, Jul-30-2014 08:00 AM

ASB Bancorp, Inc. Presents at KBW's 15th Annual Community Bank Investor Conference, Jul-30-2014 08:00 AM. Venue: The Grand Hyatt Grand Central, New York, New York, United States. Speakers: Kirby A. Tyndall, Chief Financial Officer, Principal Accounting Officer, Executive Vice President, Chief Financial Officer of Asheville Savings Bank and Executive Vice President of Asheville Savings Bank, Suzanne S. DeFerie, Chief Executive Officer, President, Director, Chief Executive Officer of Asheville Savings Bank and President of Asheville Savings Bank.

ASB Bancorp, Inc. Announces Earnings Results for the First Quarter Ended March 31, 2014; Reports Net Charge-Offs for the First Quarter of 2014; Provides Earnings Guidance for the Second Quarter of 2014

ASB Bancorp, Inc. announced earnings results for the three month period ended March 31, 2014. The company reported net income of $404,000, or $0.09 per basic and diluted share, for the quarter ended March 31, 2014, compared to net income of $740,000, or $0.15 per basic and diluted share, for the same quarter of 2013. The first quarter of the previous year included a one-time pre-tax credit to pension expense of $499,000 resulting from the curtailment of benefits for future services, which significantly influenced quarterly year-over-year net income and noninterest expense comparisons. Net interest income before loan loss provision was $4.9 million at March 31, 2014 compared to $4.6 million at March 31, 2013. Book value per share increased to $20.53 during the first quarter of 2014 from $20.06 at December 31, 2013. Net interest income increased by $225,000, or 4.9%, to $4.9 million for the three months ended March 31, 2014 as compared to $4.6 million for the three months ended March 31, 2013. Return on average assets was 0.22% against 0.40% a year ago. Return on average equity was 1.60% against 2.72% a year ago. Income before income tax provision benefit was $518,000 against $1,085,000 a year ago. For the first quarter of 2013, the company reported net charge-offs of $50,000 against $72,000 a year ago. The company is optimistic about second quarter 2014. The company also announced with the continuing improvement in asset quality over the past year, which The company expects will have a growing positive impact on financial results.

 

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