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DutchFork Bancshares, Inc. First Quarter Earnings.
Business Editors
NEWBERRY, S.C.--(BUSINESS WIRE)--Jan. 30, 2004
DutchFork Bancshares, Inc. (NASDAQ: DFBS) announced earnings of $721,213 for the first quarter ending December 31, 2003 compared to earnings of $566,441 for the first quarter of 2002.
Basic earnings per share were $0.73 for the first quarter ending December 31, 2003 compared to $0.53 for the comparable period in 2002.
Net interest income after provisions for loan losses for the first quarter of 2003 was $1,952,952 compared to $1,343,420 for the same period of 2002. Total interest income was $3,023,026 for the three months ended December 31, 2003, a $303,151 increase from the same period in 2002 due to asset restructuring. Interest expense for the first quarter of 2003 was $1,070,724, a decrease of $306,381 from the same period of 2002 due to decreases in funding costs.
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