Sparebanken Møre reported unaudited consolidated and parent earnings results for the first quarter ended March 31, 2013. For the quarter, the group reported net interest and credit commission income of NOK 236 million, net income of NOK 279 million, results before credit losses of NOK 124 million, results from ordinary operations before tax of NOK 117 million and results from ordinary operations after tax of NOK 84 million or NOK 4.95 diluted earnings per EC on interest and similar income of NOK 561 million compared to net interest and credit commission income of NOK 222 million, net income of NOK 283 million, results before credit losses of NOK 135 million, results from ordinary operations before tax of NOK 125 million and results from ordinary operations after tax of NOK 90 million or NOK 5.40 diluted earnings per EC on interest and similar income of NOK 568 million reported a year ago. Net cash used in operational activities was NOK 1,166 million compared to net cash flow from operational activities of NOK 450 million reported a year ago. Payments for purchase of fixed assets etc. were NOK 19 million compared to NOK 23 million reported a year ago. Return on equity (annualized) was 9.6% compared to 11.3% reported a year ago. Book value per share was NOK 0.93 compared to NOK 0.92 at the end of first quarter of 2012. The relative fall in net interest income is mainly attributable to the introduction of the guarantee fund from and including the first quarter of 2013, the strengthening of subordinated loan capital, and generally more expensive funding. For the quarter, the parent company reported net interest and credit commission income of NOK 191 million, net income of NOK 322 million, results before credit losses of NOK 170 million, results from ordinary operations before tax of NOK 137 million and results from ordinary operations after tax of NOK 142 million or NOK 8.30 diluted earnings per EC on interest and similar income of NOK 465 million compared to net interest and credit commission income of NOK 195 million, net income of NOK 278 million, results before credit losses of NOK 137 million, results from ordinary operations before tax of NOK 128 million and results from ordinary operations after tax of NOK 100 million or NOK 6.60 diluted earnings per EC on interest and similar income of NOK 465 million reported a year ago. Net cash used in operational activities was NOK 1,177 million compared to net cash flow from operational activities of NOK 1,231 million reported a year ago. Payments for purchase of fixed assets etc. were NOK 20 million compared to NOK 11 million reported a year ago. Good growth and a stable financial performance are thus expected for the group in 2013.

Sparebanken Møre announced that they will report Q1, 2013 results on Apr 25, 2013

Sparebanken Møre, Board Meeting, Apr 24, 2013.