Eureka by Web | Privacy Statement |Online Security |Investor Relations
Bank Information | Interest Rates |
Press Releases | Site Map |Contact Us

Oakland Office: 3455 Forbes Avenue Pittsburgh , PA 15213 ● Phone: (412) 681-8400 ● Fax: (412) 681-6625
Shaler Office:
1626 Babcock Blvd.
Pittsburgh , PA 15209 ● Phone: (412) 821-4879 ● Fax: (412) 821-4817

 

Eureka Bank Press Releases

Click here for information about Eureka Financial Corporation Stock.


January 20, 2012

Contact:   Edward F. Seserko
President and CEO
(412) 681-8400

 

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE THREE MONTHS ENDED DECEMBER 31, 2011

Pittsburgh, Pennsylvania – Eureka Financial Corp. (the "Company"), the parent holding company for Eureka Bank (the "Bank"), today announced net income for the three months ended December 31, 2011 of $388,000, or $0.31 diluted earnings per share, as compared to net income of $242,000, or $0.19 diluted earnings per share, for the three months ended December 31, 2010. The increase in net income was primarily attributable to an increase in net interest income due to an increase in net loans receivable and investment securities and a 50 basis point reduction in our cost of funds, which decreased from 1.69% at December 31, 2010, to 1.19% at December 31, 2011. The increase in net interest income was partially offset by an increase in income tax expense, due to the higher earnings for the quarter.

President and Chief Executive Officer Edward Seserko stated "The Company had a very strong quarter to start fiscal year 2012. The Company’s assets increased $6.2 million, or 4.8%, from $131.0 million at December 31, 2010 to $137.2 million at December 31, 2011, primarily due to a $1.5 million, or 5.9%, increase in cash and investments and a $7.9 million, or 7.9%, increase in loans. The increase in cash and investments was primarily due to additional securities purchased with the proceeds from our second-step conversion, which was completed in February 2011. At December 31, 2011, the Bank remains well capitalized with a core capital ratio of approximately 14.21%, which exceeds regulatory requirements. Also, non-accruing loans, or loans over 90 days delinquent, consisted of only one loan totaling $6,000 at December 31, 2011, on a loan portfolio in excess of $106 million."

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in the Pittsburgh metropolitan area. The Company’s common stock trades in the over-the-counter market under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

 

 

EUREKA FINANCIAL CORPORATION

Selected Financial Data

(Dollars in thousands except per share data)

         (Unaudited)

December 31,

September 30,

2011

2011

Total assets

$

137,238

$

137,515

Cash and investments

26,479

28,988

Loans receivable, net

106,811

104,456

Allowance for loan losses

(1,020)

(1,000)

Deposits

113,750

114,784

Total liabilities

115,455

116,050

Stockholders' equity

$

21,783

$

21,465

Nonaccrual loans

$

6

$

22

Repossessed real estate

Total nonperforming assets

$

6

$

22

Allowance for loan losses to total loans

0.95%

0.96%

Nonperforming loans to net loans

0.01%

0.02%

Nonperforming assets to total assets

0.00%

0.02%

Book value per share

$

16.57

$

16.33

Number of common shares outstanding

1,314,705

1,314,705

Three Months Ended

December 31, (Unaudited)

2011

2010

Interest income

$

1,727

$

1,608

Interest expense

344

487

Net interest income

1,383

1,121

Provision for loan losses

20

17

Net interest income after provision for loan losses

1,363

1,104

Noninterest income

20

19

Noninterest expense

754

711

Income before income taxes

629

412

Income tax expense

241

170

Net income

$

388

$

242

 


December 20, 2011

Contact: Gary B. Pepper
Chief Financial Officer
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – December 20, 2011– Edward F. Seserko, President of Eureka Financial Corp., Pittsburgh, Pennsylvania, announced today that the Corporation’s Board of Directors approved a regular quarterly cash dividend of $.07 per share.  The $.07 cash dividend will be paid to stockholders of record as of January 15, 2012, on or about January 31, 2012.  Eureka Financial Corp’s common stock is traded on the OTC (Over the Counter Market) under the symbol “EKFC.”

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company.  We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements.  The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


November 3, 2011

Contact:   Edward F. Seserko
President and CEO
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES FINANCIAL RESULTS
FOR THE QUARTER AND YEAR ENDED SEPTEMBER 30, 2011

Pittsburgh , Pennsylvania – Eureka Financial Corp., Pittsburgh , Pennsylvania (the “Company”), the parent company for Eureka Bank, today announced net income for the three months ended September 30, 2011 of $353,000, or $0.28 diluted earnings per share, as compared to a net loss of $17,000, or $0.01 diluted earnings per share, for the three months ended September 30, 2010.  For the year ended September 30, 2011, the Company reported net income of $1.3 million, or $1.03 diluted earnings per share, as compared to net income of $719,000, or $0.57 diluted earnings per share, for the fiscal year ended September 30, 2010.  The increased income in the periods was primarily due to increases in net interest income and non-interest income partially offset by increased non-interest expense.  The decreased non-interest income for the quarter and year ended September 30, 2010 was due to losses recognized by the Company in connection with the sale of its remaining holdings of Fannie Mae and Freddie Mac preferred stock.

President and Chief Executive Officer Edward Seserko stated “The Company was able to have a very strong year in this tough economic environment.  The Company’s assets increased $10.3 million, or 8.1%, from $127.3 million at September 30, 2010 to $137.6 million at September 30, 2011, primarily due to a $6.0 million, or 26.2%, increase in cash and investments and a $6.5 million, or 6.6%, increase in loans. The increase in cash and investments was primarily due to additional securities purchased with the proceeds from our second-step conversion completed in February 2011.  At September 30, 2011, the Bank remains well capitalized with a core capital ratio of 13.26%, which exceeds regulatory requirements.  Also, non-accruing loans, or loans over 90 days delinquent, consisted of only one loan totaling $22,000 at September 30, 2011, on a loan portfolio in excess of $104 million.” 

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in the city of Pittsburgh .  The Company’s common stock trades in the over-the-counter market under the symbol “EKFC.”

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company.  We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements.  The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

 

 


September 20, 2011

Contact: Gary B. Pepper
Chief Financial Officer
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – Edward F. Seserko, President of Eureka Financial Corp., Pittsburgh, Pennsylvania, announced today that the Corporation’s Board of Directors approved a regular quarterly cash dividend of $.07 per share.  The $.07 cash dividend will be paid, on or about October 31, 2011, to stockholders of record as of October 15, 2011.

Eureka Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices.  Eureka Financial Corp’s common stock is traded on the OTC (Over the Counter Market) under the symbol “EKFC.”

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company.  We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements.  The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


July 29, 2011

Contact:   Edward F. Seserko
President and CEO
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE THREE AND NINE MONTHS ENDED JUNE 30, 2011

Pittsburgh , Pennsylvania – Eureka Financial Corp., (the “Company”), the parent holding company for Eureka Bank (the “Bank”), Pittsburgh, Pennsylvania, today announced earnings for the three months ended June 30, 2011 of $422,000, or $0.34 diluted earnings per share, as compared to net income of $264,000, or $0.20 diluted earnings per share, for the three months ended June 30, 2010.  For the nine months ended June 30, 2011, the Company reported net income of $964,000, or $0.75 diluted earnings per share, as compared to net income of $736,000, or $0.56 diluted earnings per share, for the nine months ended June 30, 2010. The increased income in the periods was primarily due to an increase in net interest income and a lower effective tax rate, offset by increased noninterest expense.

Assets increased $12.4 million, or 9.7%, from $127.3 million at September 30, 2010 to $139.7 million at June 30, 2011 primarily due to a $9.9 million, or 43.0% increase in cash and investments and a $4.5 million, or 4.6%, increase in loans.  The increase in cash and investments was primarily due to additional securities purchased with the proceeds from our second-step conversion completed in February 2011.  The increase in loans was primarily concentrated in loans secured by 1-4 family dwellings and by commercial leases.   Deposits increased $6.1 million, or 5.6%, from $111.0 million at September 30, 2010 to $117.2 million at June 30, 2011, primarily due to an increase in certificates of deposit.

Nonaccrual loans increased $408,000, from $58,000 at September 30, 2010 to $466,000 at June 30, 2011, which represents the addition of five loans that were placed on non-accrual status during the third fiscal quarter.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in Pittsburgh .  The Company’s common stock trades in the over-the-counter market under the symbol “EKFC.”

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company.  We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements.  The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

 

 

 

EUREKA FINANCIAL CORP.

 

 

 

Selected Financial Data

 

 

 

(Dollars in thousands except per share data)

(Unaudited)  

 

 

 

 

June 30,

 

September 30,

 

 

 

 

 

2011

 

2010

 

 

 

 

 

 

 

 

 

Total assets

 

 

$

139,698

$

127,309

 

Cash and investments

 

 

 

32,845

 

22,968

 

Loans receivable, net

 

 

 

102,560

 

98,034

 

Allowance for loan losses

 

 

 

(970)

 

(905)

 

Deposits

 

 

 

117,169

 

111,044

 

Total liabilities

 

 

 

118,569

 

113,180

 

Stockholders' equity

 

 

$

21,129

$

14,129

 

 

 

 

 

 

 

 

 

Nonaccrual loans

 

 

$

466

$

58

 

Repossessed real estate

 

 

 

0

 

0

 

Total nonperforming assets

 

 

$

466

$

58

 

 

 

 

 

 

 

 

 

Allowance for loan losses to nonperforming loans

 

 

 

208.15%

 

1560.34%

 

Nonperforming loans to net loans

 

 

 

0.45%

 

0.06%

 

Nonperforming assets to total assets

 

 

 

0.33%

 

0.05%

 

Book value per share (2)

 

 

$

16.07

$

11.20

 

Number of common shares outstanding

 

 

 

1,314,705

 

1,261,231

 

 

    

(Unaudited)

(Unaudited)

 Three Months Ended  

Nine Months Ended

June 30,

 June 30,

 

 

2011

 

2010

 

2011

 

2010

 

 

 

 

 

 

 

 

 

Interest income

             $

1,697

$

1,568

           $

4,977

$

4,616

Interest expense

 

416

 

496

 

1,353

 

1,557

  Net interest income

 

1,281

 

1,072

 

3,624

 

3,059

Provision for loan losses

 

30

 

20

 

65

 

40

 

 

 

 

 

 

 

 

 

Net interest income after provision for loan losses

 

1,251

 

1,052

 

3,559

 

3,019

Noninterest income

 

24

 

20

 

59

 

37

Noninterest expense

 

785

 

653

 

2,210

 

1,920

 

 

 

 

 

 

 

 

 

Income before income taxes

 

490

 

419

 

1,408

 

1,136

Income tax expense

 

68

 

155

 

444

 

400

 

 

 

 

 

 

 

 

 

Net income

             $

422

$

264

           $

964

$

736

 

 

 

 

 

 

 

 

 

Earnings Per Share - Basic and Diluted (1)

$

0.34

$

0.20

$

0.75

$

0.56

 

 

 

 

 

 

 

 

 

(1)         The per share totals reflect the conversion ratio of 1.0457 for shares outstanding prior
to the completion on the Company's second-step conversion on February 28, 2011.  

(2)         The book value per share for September 30, 2010, does not reflect the conversion ratio
of 1.0457 on the outstanding shares.


June 21, 2011

Contact: Gary B. Pepper
Chief Financial Officer
(412) 681-8400

 EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – Edward F. Seserko, President of Eureka Financial Corp., Pittsburgh, Pennsylvania, announced today that the Corporation’s Board of Directors approved a regular quarterly cash dividend of $.07 per share.  The $.07 cash dividend will be paid, on or about July 31, 2011, to stockholders of record as of July 15, 2011.

Eureka Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices.  Eureka Financial Corp’s common stock is traded on the OTC (Over the Counter Market) under the symbol “EKFC.”

The foregoing material may contain forward-looking statements co ncerning the financial condition, results of operations and business of the Company.  We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements.  The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


May 10, 2011

Contact:   Edward F. Seserko

President and CEO

(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE THREE AND SIX MONTHS ENDED MARCH 31, 2011

Pittsburgh , Pennsylvania – Eureka Financial Corp., (the “Company”), the parent holding company for Eureka Bank (the “Bank”), Pittsburgh, Pennsylvania, today announced earnings for the three months ended March 31, 2011 of $299,000, or $0.23 basic and diluted earnings per share, as compared to net income of $223,000, or $0.17 basic and diluted earnings per share, for the three months ended March 31, 2010.  For the six months ended March 31, 2011, the Company reported net income of $542,000, or $0.41 basic and diluted earnings per share, as compared to net income of $458,000, or $0.35 basic and diluted earnings per share, for the six months ended March 31, 2010.  The increase in net income for the three and six months ended March 31, 2011 was attributable to increased income from investment securities and a decreased cost of funds, offset by increased non-interest expenses.

At March 31, 2011, assets increased $9.9 million, or 7.8%, to $137.2 million from $127.3 million at September 30, 2010, primarily due to a $4.7 million increase in cash and cash equivalents and a $3.7 million increase in investment securities.  These increases were funded by the increase in deposits and the proceeds from the Company’s stock offering in connection with the Bank’s second-step conversion.  Also, at March 31, 2011, loans receivable, net increased $2.6 million, or 2.6%, to $100.6 million from $98.0 million at September 30, 2010, primarily due to an increase in one- to four-family and construction loans.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in Pittsburgh .  The Company’s common stock trades in the over-the-counter market under the symbol "EKFC".

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company.  We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements.  The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


March 22, 2011

Contact:   Edward F. Seserko

President and CEO

(412) 681-8400

EUREKA FINANCIAL CORP.
ANNOUNCES INITIAL QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania — Eureka Financial Corp. (the “Company”) (OTCBB: EKFC), the holding company for Eureka Bank, today declared an initial quarterly cash dividend on the Company’s outstanding shares of common stock.

The dividend of $.07 per share will be paid on or about April 30, 2011 to shareholders of record as of the close of business on April 15, 2011.  This is the first cash dividend for the Company since the completion of Eureka Bank’s conversion from the mutual holding company form of organization to the stock holding company form of organization.

“We are pleased to pay our first dividend to shareholders since the completion of Eureka Bank’s second step conversion,” said Edward F. Seserko, President and Chief Executive Officer of the Company.  “The payment of dividends represents our long-term commitment to enhancing shareholder value and we intend to continue paying a quarterly dividend in the future, so long as our financial position continues to allow such payment.”

Eureka Financial Corp. is the holding company for Eureka Bank, a federal savings bank headquartered in Pittsburgh , Pennsylvania .  Eureka Bank operates two full-service banking offices in the Oakland and Shaler sections of Pittsburgh , Pennsylvania .

This press release contains certain forward-looking statements about the conversion and offering.  Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts.  They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”  Forward-looking statements, by their nature, are subject to risks and uncertainties.  Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the conversion and offering, difficulties in selling the common stock or in selling the common stock within the expected time frame, increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which Eureka Financial Corp. and Eureka Bank are engaged.


February 28, 2011

Contact:   Edward F. Seserko

President and CEO

(412) 681-8400

Eureka Financial Corp. Completes

Second-Step Conversion and $7.6 Million Stock Offering

 

Pittsburgh, Pennsylvania — Eureka Financial Corp. (the “Company”) (OTCBB: EKFC), the holding company for Eureka Bank, announced today that it has completed the conversion of Eureka Bank from the mutual holding company form of organization to the stock form of organization as well as its concurrent public stock offering.

As a result of the conversion and offering, Eureka Financial Corp., (“New Eureka Financial Corp.”), a newly formed Maryland corporation, became the holding company for Eureka Bank, and Eureka Bancorp, MHC and the existing Eureka Financial Corp., a federal corporation (“Old Eureka Financial Corp.”), ceased to exist.  As part of the conversion, each share of Old Eureka Financial Corp. common stock (other than those owned by Eureka Bancorp, MHC) has been converted into the right to receive 1.0457 shares of New Eureka Financial Corp. common stock. 

Shares of Old Eureka Financial Corp. common stock will no longer be quoted on the Over-the-Counter Bulletin Board.  Beginning on March 1, 2011, shares of New Eureka Financial Corp. common stock will begin to be quoted on the Over-the-Counter Bulletin Board under the symbol “EKFCD” for a period of twenty business days.  After that time, New Eureka Financial Corp.’s trading symbol will revert to “EKFC,” the current trading symbol for Old Eureka Financial Corp.’s common stock.

A total of 763,635 shares of common stock were sold in the subscription and community offerings at $10.00 per share, including 61,090 shares purchased by the Eureka Bank Employee Stock Ownership Plan.  Approximately 555,258 additional shares were issued in exchange for shares of Old Eureka Financial Corp.  Cash will be paid in lieu of fractional shares in the exchange, based on the offering price of $10.00 per share.  Total shares outstanding after the stock offering and the exchange are approximately 1,318,893 shares.

Stock certificates for shares purchased in the offering are expected to be mailed to subscribers on or about February 28, 2011.  Stockholders of Old Eureka Financial Corp. holding shares in street name will receive shares of New Eureka Financial Corp. within their accounts automatically.  Stockholders of Old Eureka Financial Corp. holding shares in certificated form will be mailed a letter of transmittal on or about March 3, 2011 and will receive new certificates for their shares of New Eureka Financial Corp. common stock and cash in lieu of fractional shares after returning their stock certificates and a properly completed letter of transmittal to New Eureka Financial Corp.’s transfer agent.

Sandler O’Neill & Partners, L.P. acted as financial advisor and marketing agent to Eureka Financial Corp. Kilpatrick Townsend & Stockton LLP acted as legal counsel to Eureka Financial Corp.

Eureka Financial Corp. is the holding company for Eureka Bank, a federal savings bank headquartered in Pittsburgh , Pennsylvania .  Eureka Bank operates two full-service banking offices in the Oakland and Shaler sections of Pittsburgh , Pennsylvania .

This press release contains certain forward-looking statements about the conversion and offering.  Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts.  They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”  Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the conversion and offering, difficulties in selling the common stock or in selling the common stock within the expected time frame, increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which Eureka Financial Corp. and Eureka Bank are engaged.


 

February 24, 2011

Contact:   Edward F. Seserko

President and CEO

(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES RESULTS OF SUBSCRIPTION AND COMMUNITY OFFERINGS
AND EXPECTED CLOSING DATE OF CONVERSION AND STOCK OFFERING

Pittsburgh, Pennsylvania — Eureka Financial Corp. (the “Company”) (OTCBB: EKFC), the holding company for Eureka Bank, announced today that new Eureka Financial Corp. received subscriptions for approximately $7.6 million of common stock in its subscription and community offerings being conducted in connection with the second-step conversion of Eureka Bank.  This amount includes $610,900 subscribed for by Eureka Bank’s Employee Stock Ownership Plan.

The conversion and offering are expected to be completed on February 28, 2011.  The closing of the transaction is subject to the satisfaction of customary closing conditions.

Orders received in the subscription and community offerings will be maintained in a segregated account at Eureka Bank by Eureka Financial Corp., with interest on subscribers’ funds continuing to accrue until completion of the conversion.  All eligible subscribers and community members who properly completed and timely submitted a stock order form will be allocated the number of shares of common stock requested in their stock order form.

As part of the conversion, each existing share of Eureka Financial Corp. is expected to be converted into the right to receive 1.0457 shares of new Eureka Financial Corp. common stock.  The exchange ratio ensures that, after the conversion and offering, the public shareholders will maintain approximately the same ownership interest in new Eureka Financial Corp. as they owned in Eureka Financial Corp.   Cash will be issued in lieu of fractional shares based on the offering price of $10.00 per share.  Total shares outstanding after the stock offering and the exchange are expected to be approximately 1,318,893 shares.

Stock certificates for shares purchased in the subscription offering and community offering are expected to be mailed to subscribers on or about February 28, 2011.  Stockholders of Eureka Financial Corp. holding shares in street name will receive shares of new Eureka Financial Corp. within their accounts automatically.  Stockholders of Eureka Financial Corp. holding shares in certificated form will be mailed a letter of transmittal on or about March 3, 2011 and will receive their shares of new Eureka Financial Corp. common stock and cash in lieu of fractional shares after returning their stock certificates and a properly completed letter of transmittal to Eureka Financial Corp.’s transfer agent.

Sandler O’Neill & Partners, L.P. acted as financial advisor to Eureka Financial Corp.   Kilpatrick Townsend & Stockton LLP acted as legal counsel to Eureka Financial Corp.

Eureka Financial Corp. is the holding company for Eureka Bank, a federal savings bank headquartered in Pittsburgh , Pennsylvania .  Eureka Bank operates two full-service banking offices in the Oakland and Shaler sections of Pittsburgh , Pennsylvania .

This press release contains certain forward-looking statements about the conversion and offering.  Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts.  They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”  Forward-looking statements, by their nature, are subject to risks and uncertainties.  Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the conversion and offering, difficulties in selling the common stock or in selling the common stock within the expected time frame, increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which Eureka Financial Corp. and Eureka Bank are engaged.

A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission. This press release is neither an offer to sell nor a solicitation of an offer to buy common stock. The offer will be made only by means of the written prospectus forming part of the registration statement (and, in the case of the subscription and community offerings, an accompanying stock order form).

The shares of common stock of new Eureka Financial Corp. are not savings accounts or savings deposits, may lose value and are not insured by the Federal Deposit Insurance Corporation or any other government agency.


February 22, 2011

Contact:   Edward F. Seserko

President and CEO

(412) 681-8400

 

Eureka Financial Corp. Announces Approval of

Plan of Conversion and Reorganization by

Shareholders and MHC Members

Pittsburgh, Pennsylvania — Eureka Financial Corp. (the “Company”) (OTCBB: EKFC), the holding company for Eureka Bank, announced today that the Company’s Plan of Conversion and Reorganization was approved by the members of Eureka Bancorp, MHC and by the Company’s shareholders at separate meetings held today.  The closing of the conversion and the offering remains subject to final regulatory approvals.

Eureka Financial Corp. is the holding company for Eureka Bank, a federal savings bank headquartered in Pittsburgh , Pennsylvania .  Eureka Bank operates two full-service banking offices in the Oakland and Shaler sections of Pittsburgh , Pennsylvania .

This press release contains certain forward-looking statements about the conversion and offering.  Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts.  They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”  Forward-looking statements, by their nature, are subject to risks and uncertainties.  Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the conversion and offering, difficulties in selling the common stock or in selling the common stock within the expected time frame, increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which Eureka Financial Corp. and Eureka Bank are engaged.

A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission. This press release is neither an offer to sell nor a solicitation of an offer to buy common stock. The offer will be made only by means of the written prospectus forming part of the registration statement (and, in the case of the subscription and community offerings, an accompanying stock order form).

The shares of common stock of new Eureka Financial Corp. are not savings accounts or savings deposits, may lose value and are not insured by the Federal Deposit Insurance Corporation or any other government agency.


February 15, 2011

Contact: Michael P. Abriola
Vice President of Business
Development & Marketing
(412) 681-8400

Eureka Bank Celebrates 125 Years

Pittsburgh , PA Eureka Bank will mark its 125th year on February 17, 2011. Founded in 1886 as the Eureka Savings Fund and Loan Association, the Bank has survived the Great Depression of the 1930s and all of the boom and bust years ever since.  

Throughout the years, the Bank has expanded, added new products, new services and served generations of families. One thing has never changed; Eureka Bank remains a neighborhood bank focused on helping families, neighbors and businesses reach their financial goals while continuing to strengthen the neighborhoods where the Bank operates.

Michael Abriola, Vice President of Business Development & Marketing, said, “By providing exceptional customer service and innovative banking services, we continue to successfully serve the financial needs of our customers.”

Eureka Bank is an independent, well-managed financial institution that continues to grow and provide safe and secure banking for its customers. During these challenging economic times, the Bank has never wavered from its adherence to the core principles that have guided its growth and sustained its strength in the marketplace for 125 years.

Eureka Bank remains focused on being well-capitalized, increasing shareholder value, a consistent and conservative credit philosophy, having knowledgeable and experienced staff, and delivering superior customer service.

To learn more about Eureka Bank, visit one of their offices, call the Oakland Office at (412) 681-8400, the Shaler Office at (412) 821-4879, or visit their website at www.eurekabancorp.com.


January 24, 2011

Contact:   Edward F. Seserko

President and CEO

(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE THREE MONTHS ENDED DECEMBER 31, 2010
 

Pittsburgh, Pennsylvania – Eureka Financial Corp., (the “Company”), the parent holding company for Eureka Bank (the Bank), Pittsburgh, Pennsylvania, today announced net income for the three months ended December 31, 2010 of $242,000, or $0.19 diluted earnings per share, as compared to net income of $234,000, or $0.19 diluted earnings per share, for the three months ended December 31, 2009.  The increase in net income was primarily attributable to an increase in net interest income due to an increase in net loans receivable and investment securities.  These increases were partially offset by an increase in non-interest expense, which was the result of increases in compensation and FDIC insurance expense.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in the Pittsburgh metropolitan area.  The Company’s common stock trades in the over-the-counter market under the symbol “EKFC.”

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company.  We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements.  The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

                                                                                                          EUREKA FINANCIAL CORPORATION

                                                                                                                   Selected Financial Data

                                                                                                     (Dollars in thousands except per share data)

   (Unaudited)  

December 31,

September 30,
2010 2010
Total assets $      130,984 $      127,309
Cash and investments 24,994 22,133
Loans receivable, net 98,947 98,034
Allowance for loan losses (922) (905)
Deposits 115,219 111,044
Total liabilities 116,690 113,180
Stockholders' equity $14,294 $14,129
Nonaccrual loans $             68 $              58
Repossessed real estate 0 0
Total nonperforming assets $             68 $              58
Allowance for loan losses to nonperforming loans 1355.88% 1560.34%
Nonperforming loans to net loans 0.07% 0.06%
Nonperforming assets to total assets 0.05% 0.05%
Book value per share $         11.33 $          11.20
Number of common shares outstanding 1,261,231 1,261,231

                           Three Months Ended 

                       December 31, (Unaudited) 

2010 2009
Interest income $        1,608 $         1,527
Interest expense 487 545
  Net interest income 1,121 982
Provision for loan losses 17 5
Net interest income after provision for loan losses 1,104 977
Noninterest income 19 18
Noninterest expense 711 617
Income before income taxes 412 378
Income tax expense 170 144
Net income $          242 $           234

January 12, 2011

Contact:   Edward F. Seserko

President and CEO

(412) 681-8400

Eureka Financial Corp.

to Commence Second-Step Conversion and Stock Offering

Pittsburgh, PA Eureka Financial Corp. (the “Company”) (OTCBB: EKFC), holding company for Eureka Bank, announced today that the Company has received conditional approval from the Office of Thrift Supervision to reorganize from the two-tier mutual holding company structure to the stock holding company structure and to commence a “second-step” stock offering of shares of common stock by the proposed new holding company for Eureka Bank.  The Company also announced that the registration statement relating to the sale of common stock by the new holding company for Eureka Bank – a newly formed Maryland corporation also named Eureka Financial Corp. – has been declared effective by the Securities and Exchange Commission.

New Eureka Financial Corp. is offering for sale between 680,000 and 920,000 shares of common stock at a purchase price of $10.00 per share.  New Eureka Financial Corp. may increase the number of shares that it sells in the offering, without notice to persons who have subscribed for shares, by up to 15%, to 1,058,000 shares, as a result of market demand, regulatory considerations or changes in financial markets. The shares of common stock to be offered by new Eureka Financial Corp. represent the approximately 57.9.% of Eureka Financial Corp.’s common stock that is currently owned by Eureka Bancorp, MHC. 

The shares will be offered  in a subscription offering first to depositors of Eureka Bank with a qualifying deposit as of June 30, 2009, second to the Bank’s tax-qualified employee benefit plans, third to depositors of Eureka Bank with a qualifying deposit as of December 31, 2010 and finally to depositors of Eureka Bank as of December 31, 2010.  Concurrently with the subscription offering, new Eureka Financial Corp. is offering any shares of common stock that are not subscribed for in the subscription offering to members of the general public in a community offering, with preference given first to persons residing in Allegheny County, Pennsylvania, and then to shareholders of the Company as of December 27, 2010.

Eureka Bank will establish a Stock Information Center , which will open on January 20, 2011.  Offering materials are available by contacting the Stock Information Center at (412) 688-8329.  Hours of operation will be Monday through Friday, from 10:00 a.m. to 4:00 p.m., Eastern time.  The Stock Information Center will be closed on weekends and bank holidays  The subscription and community offerings are currently scheduled to expire at 4:00 p.m., Eastern time, on Monday, February 14, 2011.

At the conclusion of the conversion and offering, shareholders of Eureka Financial Corp. other than Eureka Bancorp, MHC will receive shares of common stock of new Eureka Financial Corp. based on an “exchange ratio” designed to preserve their aggregate percentage ownership interest.  The exchange ratio will depend on the number of shares sold in the offering and will range from 0.9312 shares to 1.2599 shares, subject to a 15% increase to 1.4488 shares, based on the independent appraisal.  At the conclusion of the conversion and offering, new Eureka Financial Corp. will be 100% owned by public shareholders.

The second-step conversion must be approved by a majority of the votes eligible to be cast by members of Eureka Bancorp, MHC at a special meeting of members, to be held on February 22, 2011.  The depositors of Eureka Bank are the members of Eureka Bancorp, MHC.  Members of Eureka Bancorp, MHC as of the close of business on December 31, 2010 will be entitled to vote at the special meeting.  Offering and proxy materials will be mailed to members of Eureka Bancorp, MHC on or about January 19, 2011.

Holders of at least two thirds of the outstanding shares of common stock of the Company and the holders of the majority of the outstanding shares of the common stock of the Company other than the shares held by Eureka Bancorp, MHC as of December 27, 2010 must also approve the second-step conversion at an annual meeting of shareholders, also to be held on February 22, 2011.  Proxy materials will be mailed to shareholders of the Company on or about January 19, 2011.

Completion of the conversion and offering is subject to, among other things, the receipt of final regulatory approvals.

Sandler O’Neill & Partners, L.P. is assisting new Eureka Financial Corp. in selling its common stock in the subscription and community offerings on a best efforts basis.

Eureka Financial Corp. is the holding company for Eureka Bank, a federal savings bank headquartered in Pittsburgh , Pennsylvania .  Eureka Bank operates two full-service banking offices in the Oakland and Shaler sections of Pittsburgh , Pennsylvania .  

This press release contains certain forward-looking statements about the conversion and offering.  Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts.  They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”  Forward-looking statements, by their nature, are subject to risks and uncertainties.  Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the conversion and offering, difficulties in selling the common stock or in selling the common stock within the expected time frame, increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which Eureka Financial Corp. and Eureka Bank are engaged.

A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission. This press release is neither an offer to sell nor a solicitation of an offer to buy common stock. The offer will be made only by means of the written prospectus forming part of the registration statement (and, in the case of the subscription and community offerings, an accompanying stock order form).

New Eureka Financial Corp. has filed a proxy statement/prospectus concerning the conversion with the Securities and Exchange Commission.  Shareholders of Eureka Financial Corp. are urged to read the proxy statement/prospectus because it contains important information.  Investors are able to obtain all documents filed with the SEC by new Eureka Financial Corp. free of charge at the SEC’s website, www.sec.gov.  In addition, documents filed with the SEC by new Eureka Financial Corp. are available free of charge from the Corporate Secretary of Eureka Financial Corp. at 3455 Forbes Avenue, Pittsburgh, Pennsylvania 15213, telephone (412) 681-8400.  The directors, executive officers, and certain other members of management and employees of Eureka Financial Corp. are participants in the solicitation of proxies in favor of the conversion from the shareholders of Eureka Financial Corp.  Information about the directors and executive officers of Eureka Financial Corp. is included in the proxy statement/prospectus filed with the SEC.

The shares of common stock of new Eureka Financial Corp. are not savings accounts or savings deposits, may lose value and are not insured by the Federal Deposit Insurance Corporation or any other government agency.


December 21, 2010

Contact: Gary B. Pepper
Chief Financial Officer
(412) 681-8400

 EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – Edward F. Seserko, President of Eureka Financial Corp., Pittsburgh, Pennsylvania, announced today that the Corporation’s Board of Directors approved a regular quarterly cash dividend of $.15 per share.  The $.15 cash dividend will be paid to stockholders of record as of January 15, 2011, on or about January 31, 2011.  Eureka Financial Corp’s common stock is traded on the OTC (Over the Counter Market) under the symbol “EKFC.”

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company.  We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements.  The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


November 4, 2010

Contact:   Edward F. Seserko

President and CEO

(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES FINANCIAL RESULTS
FOR THE FOURTH QUARTER AND YEAR ENDED SEPTEMBER 30, 2010

Pittsburgh, Pennsylvania – Eureka Financial Corp., Pittsburgh, Pennsylvania, (the "Company"), the parent holding company for Eureka Bank, today announced a net loss for the three months ended September 30, 2010 of $17,000, or $0.01 diluted earnings per share, as compared to net income of $183,000, or $0.15 diluted earnings per share, for the three months ended September 30, 2009. For the fiscal year ended September 30, 2010, the Company reported net income of $719,000, or $0.57 diluted earnings per share, as compared to net income of $3.4 million, or $2.71 diluted earnings per share, for the fiscal year ended September 30, 2009. The net income for the fiscal year ended September 30, 2009 included a deferred tax benefit of $2.6 million related to an other than temporary impairment charge of $7.7 million on the Company’s Fannie Mae and Freddie Mac preferred stock holdings at September 30, 2008. This deferred tax benefit was not recorded until the first quarter of fiscal 2009 as a result of the Emergency Economic Stabilization Act of 2008 not being enacted into law until October 3, 2008.

President and Chief Executive Officer Edward Seserko stated "The Bank sold all of the remaining shares of the aforementioned preferred stock holdings in the quarter ended September 30, 2010. These sales lowered net income for the fourth quarter by approximately $179,000. The Company was still able to have a very solid year in this tough economic environment. For the year ended September 30, 2010, the Bank experienced over 20.0% deposit growth. At September 30, 2010, the Bank remains very well capitalized with a core capital ratio of 10.10%, which far exceeds regulatory requirements. Also, non-accruing loans, or loans over 90 days delinquent, totaled $58,000 at September 30, 2010, on a loan portfolio in excess of $98 million."

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in the city of Pittsburgh. The Company’s common stock trades in the over-the-counter market under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

 

 

EUREKA FINANCIAL CORPORATION

 

Selected Financial Data

 

(Dollars in thousands except per share data)

 

 

 

 

 

 

 

 

 

 

   (Unaudited)

 

 

 

 

 

 

September 30,

September 30,

 

 

 

 

 

2010

 

2009

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

127,310

$

108,791

 

 

Cash and investments

 

 

22,968

 

9,908

 

 

Loans receivable, net

 

 

98,034

 

94,490

 

 

Allowance for loan losses

 

 

(905)

 

(832)

 

 

Deposits

 

 

111,044

 

91,774

 

 

Total liabilities

 

 

113,181

 

94,987

 

 

Stockholders' equity

 

$

14,129

$

13,804

 

 

 

 

 

 

 

 

 

 

Nonaccrual loans

 

$

58

$

152

 

 

Repossessed real estate

 

 

0

 

0

 

 

Total nonperforming assets

 

$

58

$

152

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses to nonperforming loans

 

 

1560.34%

 

547.37%

 

 

Nonperforming loans to net loans

 

 

0.06%

 

0.16%

 

 

Nonperforming assets to total assets

 

 

0.05%

 

0.14%

 

 

Book value per share

 

$

11.20

$

10.95

 

 

Number of common shares outstanding

 

 

1,261,231

 

1,260,287

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

(Unaudited)

 

Three Months Ended

 

Twelve Months Ended

 

September 30,

 

September 30,

 

2010

 

2009

 

2010

 

2009

 

 

 

 

 

 

 

 

Interest income

1,582

$

1,516

           $

6,197

$

5,989

Interest expense

495

 

550

 

2,051

 

2,391

  Net interest income

1,087

 

966

 

4,146

 

3,598

Provision for loan losses

35

 

68

 

75

 

128

 

 

 

 

 

 

 

 

Net interest income after provision for loan losses

1,052

 

898

 

4,071

 

3,470

Noninterest (loss) income

(252)

 

18

 

(215)

 

76

Noninterest expense

762

 

702

 

2,682

 

2,575

 

 

 

 

 

 

 

 

Income before income taxes

38

 

214

 

1,174

 

971

Income tax expense (benefit)

55

 

31

 

455

 

(2,421)

 

 

 

 

 

 

 

 

Net (loss) income

(17)

$

183

           $

719

$

3,392


September 21, 2010

Contact:   Edward F. Seserko

President and CEO

(412) 681-8400

Eureka Financial Corp. Announces
Adoption of Plan of Conversion and Reorganization
 

Pittsburgh , PA - Eureka Financial Corp. (the "Company") (OTCBB:EKFC), holding company for Eureka Bank, announced today that the Board of Directors of the Company has unanimously adopted a Plan of Conversion and Reorganization (the "Plan") pursuant to which Eureka Bank will reorganize from the two-tier mutual holding company structure to the stock holding company structure and will undertake a "second-step" stock offering of shares of common stock of a new corporation formed in connection with the conversion. Eureka Bank converted from a mutual savings bank to the holding company structure and offered and sold a minority of its shares in 1999. Eureka Bank reorganized into the "two-tier" mutual holding company structure by forming the Company in 2003.

Eureka Bancorp, MHC (the "MHC"), which owns approximately 57.9% of the outstanding common stock of the Company, will be merged with and into the Company as part of the reorganization and its shares in the Company will be retired. The new holding company will offer and sell shares of common stock in an amount representing the percentage ownership interest currently held by the MHC, also to be based on an appraisal of the Company, as converted, which will be performed by an independent appraiser. The new holding company will offer shares of its common stock for sale to Eureka Bank's eligible account holders and tax-qualified employee benefit plans and to members of the general public in a subscription and community offering in the manner and subject to the priorities set forth in the Plan. The highest priority will be depositors with qualifying deposits as of June 30, 2009. In addition, existing shareholders of the Company, other than the MHC, will receive shares of common stock of a new Maryland corporation pursuant to an "exchange ratio" designed to preserve their aggregate percentage ownership interest. The exchange ratio will be determined based upon the appraisal of the Company and the results of the offering.

The conversion and reorganization will be subject to approval of Eureka Bank's depositors, the Company's shareholders (including the approval of a majority of the shares held by persons other than the MHC) and regulatory agencies.

Information, including the details of the offering and business and financial information about the Company and Eureka Bank, will be provided in proxy materials and a prospectus when the offering commences, which is expected to be during the first quarter of 2011.

Eureka Financial Corp. is the holding company for Eureka Bank, a federal savings bank headquartered in Pittsburgh , Pennsylvania . Eureka Bank operates two full-service banking offices in the Oakland and Shaler sections of Pittsburgh , Pennsylvania .

This release is neither an offer to sell nor a solicitation of an offer to buy common stock. The offer is made only by the prospectus when accompanied by a stock order form. The shares of common stock of the Company are not savings accounts or savings deposits, may lose value and are not insured by the Federal Deposit Insurance Corporation or any other government agency.

This press release contains certain forward-looking statements about the conversion and reorganization. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the Plan of Conversion and Reorganization, difficulties in selling the conversion stock or in selling the conversion stock within the expected time frame, increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which the Company is engaged.


September 21, 2010

Contact: Gary B. Pepper
Chief Financial Officer
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND
 

Pittsburgh, Pennsylvania – Edward F. Seserko, President of Eureka Financial Corp., Pittsburgh, Pennsylvania, announced today that the Corporation’s Board of Directors approved a regular quarterly cash dividend of $.15 per share.  The $.15 cash dividend will be paid, on or about October 31, 2010, to stockholders of record as of October 15, 2010.

Eureka Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices.  Eureka Financial Corp’s common stock is traded on the OTC (Over the Counter Market) under the symbol “EKFC.”

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company.  We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements.  The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


August 11, 2010

Contact:   Edward F. Seserko

President and CEO

(412) 681-8400

 

 EUREKA BANK HIRES A CONTROLLER

 

 

Pittsburgh, Pennsylvania - President and CEO Edward F. Seserko announced that Robert B. Kastan has been hired as Controller for Eureka Bank.

 

Mr. Kastan is a certified public accountant with more than 20 years of community bank and public accounting experience. He is a graduate of Duquesne University. Mr. Kastan resides in Allegheny County with his wife and their son.

 

Eureka Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in Pittsburgh. Eureka Financial Corp., the parent holding company for Eureka Bank, common stock trades in the over-the-counter market under the symbol "EKFC."


July 27, 2010

Contact:   Edward F. Seserko
President and CEO
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE THREE AND NINE MONTHS ENDED JUNE 30, 2010

Pittsburgh, Pennsylvania – Eureka Financial Corp., (the "Company"), the parent holding company for Eureka Bank (the Bank), Pittsburgh, Pennsylvania, today announced earnings for the three and nine months ended June 30, 2010. For the three months ended June 30, 2010, the Company reported net income of $264,000, or $0.21 diluted earnings per share, as compared to net income of $151,000, or $0.12 diluted earnings per share, for the three months ended June 30, 2009. For the nine months ended June 30, 2010, the Company reported net income of $722,000, or $.57 diluted earnings per share, as compared to net income of $3.2 million, or $2.56 diluted earnings per share, for the nine months ended June 30, 2009. The earnings for the nine months ended June 30, 2009, include a deferred tax benefit of $2.6 million related to an other-than-temporary impairment charge of $7.8 million on the Company’s Fannie Mae and Freddie Mac preferred stock holdings at September 30, 2008. This deferred tax benefit was not recorded until the first quarter of fiscal 2009 as a result of the Emergency Economic Stabilization Act of 2008 not being enacted into law until October 3, 2008.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in Pittsburgh. The Company’s common stock trades in the over-the-counter market under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

EUREKA FINANCIAL CORPORATION

Selected Financial Data

(Dollars in thousands except per share data)

(Unaudited)

June 30,

September 30,

2010

2009

Total assets

$

124,371

$

108,791

Cash and investments

21,042

9,908

Loans receivable, net

96,297

94,490

Allowance for loan losses

(872)

(832)

Deposits

107,664

91,774

Total liabilities

110,343

94,987

Stockholders' equity

$

14,028

$

13,804

Nonaccrual loans

$

118

$

152

Repossessed real estate

0

0

Total nonperforming assets

$

118

$

152

Allowance for loan losses to nonperforming loans

738.98%

547.37%

Nonperforming loans to net loans

0.12%

0.16%

Nonperforming assets to total assets

0.09%

0.14%

Book value per share

$

11.12

$

10.95

Number of common shares outstanding

1,261,231

1,260,287

(Unaudited)

(Unaudited)

Three Months Ended

Nine Months Ended

June 30,

June 30,

2010

2009

2010

2009

Interest income

$

1,568

$

1,477

$

4,616

$

4,473

Interest expense

496

595

1,557

1,841

Net interest income

1,072

882

3,059

2,632

Provision for loan losses

20

20

40

60

Net interest income after provision for loan losses

1,052

862

3,019

2,572

Noninterest income

19

18

53

58

Noninterest expense

653

704

1,936

1,873

Income before income taxes

418

176

1,136

757

Income tax (benefit) expense

154

25

414

(2,452)

Net income

$

264

$

151

$

722

$

3,209

                 

 


June 22, 2010

Contact: Gary B. Pepper
Chief Financial Officer
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – June 22, 2010– Edward F. Seserko, President of Eureka Financial Corp., Pittsburgh, Pennsylvania, announced today that the Corporation’s Board of Directors approved a regular quarterly cash dividend of $.15 per share. The $.15 cash dividend will be paid, on or about July 31, 2010, to stockholders of record as of July 15, 2010.

Eureka Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices. Eureka Financial Corp’s common stock is traded on the OTC (Over the Counter Market) under the symbol "EKFC."

The foregoing material may contain forward-looking statements co ncerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


April 23, 2010

Contact:   Edward F. Seserko
President and CEO
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE THREE AND SIX MONTHS ENDED MARCH 31, 2010

Pittsburgh, Pennsylvania – Eureka Financial Corp., (the "Company"), the parent holding company for Eureka Bank (the Bank), Pittsburgh, Pennsylvania, today announced earnings for the three and six months ended March 31, 2010. For the three months ended March 31, 2010, the Company reported net income of $224,000, or $0.18 diluted earnings per share, as compared to net income of $206,000, or $0.16 diluted earnings per share, for the three months ended March 31, 2009. For the six months ended March 31, 2010, the Company reported net income of $458,000, or $0.36 diluted earnings per share, as compared to net income of $3.1 million, or $2.44 diluted earnings per share, for the six months ended March 31, 2009. The earnings for the six months ended March 31, 2009 included a deferred tax benefit of $2.6 million related to an other-than-temporary impairment charge of $7.8 million on the Company’s Fannie Mae and Freddie Mac preferred stock holdings at September 30, 2008. This deferred tax benefit was not recorded until the first quarter of fiscal 2009 as a result of the Emergency Economic Stabilization Act of 2008 not being enacted into law until October 3, 2008.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in Pittsburgh. The Company’s common stock trades in the over-the-counter market under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

 


March 19, 2010

Contact: Gary B. Pepper
Chief Financial Officer
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – March 19, 2010– Edward F. Seserko, President of Eureka Financial Corp., Pittsburgh, Pennsylvania, announced today that the Corporation’s Board of Directors approved a regular quarterly cash dividend of $.15 per share. The $.15 cash dividend will be paid, on or about April 30, 2010, to stockholders of record as of April 15, 2010.

Eureka Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices. Eureka Financial Corp’s common stock is traded on the OTC (Over the Counter Market) under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


February 1, 2010

Contact:   Edward F. Seserko
President and CEO
(412) 681-8400

EUREKA FINANCIAL CORPORATION ANNOUNCES EARNINGS
FOR THE FIRST QUARTER ENDED DECEMBER 31, 2009

Pittsburgh, Pennsylvania – Eureka Financial Corporation, (the "Company"), Pittsburgh, Pennsylvania, announced that earnings for the quarter ended December 31, 2009, were $234,000, or $.19 diluted earnings per share, as compared to earnings of $2.9 million, or $2.26 diluted earnings per share, for the quarter ended December 31, 2008. The earnings for the quarter ended December 31, 2008, included a deferred tax benefit of $2.6 million. Excluding the deferred tax benefit, the Company would have earned $205,000, or $.16 diluted earnings per share. The deferred tax benefit of $2.6 million is related to the other-than-temporary impairment charge of $7.8 million on Fannie Mae and Freddie Mac preferred stock holdings at September 30, 2008. This deferred tax benefit was not recorded until the first quarter as a result of the Emergency Economic Stabilization Act of 2008 not being enacted into law until October 3, 2008.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in Pittsburgh . The Company’s common stock trades in the over-the-counter market under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.



December 22, 2009

Contact: Gary B. Pepper
Chief Financial Officer
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – December 22, 2009– Edward F. Seserko, President of Eureka Financial Corp., Pittsburgh, Pennsylvania, announced today that the Corporation’s Board of Directors approved a regular quarterly cash dividend of $.15 per share. The $.15 cash dividend will be paid to stockholders of record as of January 15, 2010, on or about January 31, 2010. Eureka Financial Corp’s common stock is traded on the OTC (Over the Counter Market) under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


November 2, 2009

Contact:   Edward F. Seserko
President and CEO
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE FOURTH QUARTER AND YEAR ENDED SEPTEMBER 30, 2009

Pittsburgh , Pennsylvania – Eureka Financial Corp. (the “Company”), the parent holding company for Eureka Bank, Pittsburgh , Pennsylvania , today announced earnings for the fourth quarter and year ended September 30, 2009.  For the three months ended September 30, 2009, the Company earned $171,000, or $0.14 diluted earnings per share, as compared to a loss of $7,700,000, or ($11.88) diluted earnings per share, for the three months ended September 30, 2008.  For the fiscal year ended September 30, 2009, the Company earned $3,380,000, or $2.69 diluted earnings per share, as compared to a loss of $7,200,000, or ($5.70) diluted earnings per share, for the fiscal year ended September 30, 2008.  The earnings for the fiscal year-ended September 30, 2009 included a deferred tax benefit of $2.6 million related to an other-than-temporary impairment charge of $7.7 million on the Company’s Fannie Mae and Freddie Mac preferred stock holdings at September 30, 2008.  This deferred tax benefit was not recorded until the first quarter of fiscal 2009 as a result of the Emergency Economic Stabilization Act of 2008 not being enacted into law until October 3, 2008.

President and Chief Executive Officer Edward Seserko stated “The Bank has rebounded strongly in fiscal year 2009 and proceeded with restoring net income to normal levels and increased capital in the process. At September 30, 2009, the Bank had a risk-based capital ratio of over 17%, which far exceeds regulatory requirements.” 

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in the city of Pittsburgh .  The Company’s common stock trades in the over-the-counter market under the symbol “EKFC.”

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company.  We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements.  The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

EUREKA FINANCIAL CORPORATION
Selected Financial Data
(Dollars in thousands except per share data)
   (Unaudited)
September 30,

  September 30,

2009

2008

Total assets $108,685 $93,984
Cash and investments 9,908 8,172
Loans receivable, net 94,521 82,651
Allowance for loan losses (801) (760)
Deposits 91,774 80,229
Total liabilities 94,893 83,362
Stockholders' equity $13,792 $10,622
Nonaccrual loans $152 $321
Repossessed real estate 0 0
Total nonperforming assets $152 $321
Allowance for loan losses to nonperforming loans 526.97% 236.76%
Nonperforming loans to net loans 0.16% 0.39%
Nonperforming assets to total assets 0.14% 0.34%
Book value per share $10.94 $8.58
Number of common shares outstanding 1,260,287 1,237,898
(Unaudited) (Unaudited)
Three Months Ended  Twelve Months Ended 
September 30, September 30,

2009

2008

2009

2008

Interest income

$1,516 $1,438

$5,989 $6,075
Interest expense 552 672 2,393 2,898
  Net interest income 964 766 3,596 3,177
Provision for loan losses 37 90 97 170
Net interest income after provision for loan losses 927 676 3,499 3,007
Noninterest income 22 36 80 120
Noninterest expense 668 8,457 2,541 10,296
Income before income taxes 281 (7,745) 1,038 (7,169)
Income tax (benefit) expense 110 (38) (2,342) 65
Net income

$171 $(7,707)

$3,380 $(7,234)
 
Information for inclusion in narrative:
Net Income

$171 $ (7,707)

$3,380 $(7,234)
Earnings Per Share - Basic

$0.14 $ (12.39)

$2.70 $(5.84)
Earnings Per Share - Diluted

$0.14 $ (11.88)

$2.69 $(5.70)

 


September 22, 2009

Contact: Gary B. Pepper
Chief Financial Officer
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – September 22, 2009– Edward F. Seserko, President of Eureka Financial Corp., Pittsburgh, Pennsylvania, announced today that the Corporation’s Board of Directors approved a regular quarterly cash dividend of $.15 per share. The $.15 cash dividend will be paid, on or about October 31, 2009, to stockholders of record as of October 15, 2009.

Eureka Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices. Eureka Financial Corp’s common stock is traded on the OTC (Over the Counter Market) under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


July 22, 2009

Contact:   Edward F. Seserko
President and CEO
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE THREE AND NINE MONTHS ENDED JUNE 30, 2009

Pittsburgh, Pennsylvania – Eureka Financial Corp., (the "Company"), the parent holding company for Eureka Bank (the Bank), Pittsburgh, Pennsylvania, today announced earnings for the three and nine months ended June 30, 2009. For the three months ended June 30, 2009, the Company reported net income of $151,000, or $0.12 diluted earnings per share, as compared to net income of $169,000, or $0.13 diluted earnings per share, for the three months ended June 30, 2008. For the nine months ended June 30, 2009, the Company reported net income of $3.2 million, or $2.56 diluted earnings per share, as compared to net income of $473,000, or $0.37 diluted earnings per share, for the nine months ended June 30, 2008. The earnings for the nine months ended June 30, 2009, include a deferred tax benefit of $2.6 million related to an other-than-temporary impairment charge of $7.8 million on the Company’s Fannie Mae and Freddie Mac preferred stock holdings at September 30, 2008. This deferred tax benefit was not recorded until the first quarter of fiscal 2009 as a result of the Emergency Economic Stabilization Act of 2008 not being enacted into law until October 3, 2008.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in Pittsburgh. The Company’s common stock trades in the over-the-counter market under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


June 17, 2009

Contact: Gary B. Pepper
Chief Financial Officer
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – June 17, 2009– Edward F. Seserko, President of Eureka Financial Corp., Pittsburgh, Pennsylvania, announced today that the Corporation’s Board of Directors approved a regular quarterly cash dividend of $.15 per share. The $.15 cash dividend will be paid, on or about July 31, 2009, to stockholders of record as of July 15, 2009.

Eureka Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices. Eureka Financial Corp’s common stock is traded on the OTC (Over the Counter Market) under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


April 23, 2009

Contact:   Edward F. Seserko
President and CEO
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE THREE AND SIX MONTHS ENDED MARCH 31, 2009

Pittsburgh, Pennsylvania – Eureka Financial Corp., (the "Company"), the parent holding company for Eureka Bank (the Bank), Pittsburgh, Pennsylvania, today announced earnings for the three and six months ended March 31, 2009. For the three months ended March 31, 2009, the Company reported net income of $206,000, or $0.16 diluted earnings per share, as compared to net income of $158,000, or $0.12 diluted earnings per share, for the three months ended March 31, 2008. For the six months ended March 31, 2009, the Company reported net income of $3.1 million, or $2.44 diluted earnings per share, as compared to net income of $304,000, or $0.24 diluted earnings per share, for the six months ended March 31, 2008. The earnings for the six months ended March 31, 2009 include a deferred tax benefit of $2.6 million related to an other-than-temporary impairment charge of $7.8 million on the Company’s Fannie Mae and Freddie Mac preferred stock holdings at September 30, 2008. This deferred tax benefit was not recorded until the first quarter of fiscal 2009 as a result of the Emergency Economic Stabilization Act of 2008 not being enacted into law until October 3, 2008.

Eureka Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices. The Company’s common stock trades in the over-the-counter market under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


April 21, 2009

Contact: Gary B. Pepper
Chief Financial Officer
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – April 20, 2009– Edward F. Seserko, President of Eureka Financial Corp., Pittsburgh, Pennsylvania, announced today that the Corporation’s Board of Directors approved a regular quarterly cash dividend of $.15 per share. The $.15 cash dividend will be paid, on or about April 30, 2009, to stockholders of record as of April 22, 2009.

Eureka Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices. Eureka Financial Corp’s common stock is traded on the OTC (Over the Counter Market) under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


January 22, 2009

Contact:   Edward F. Seserko
President and CEO
(412) 681-8400

EUREKA FINANCIAL CORPORATION ANNOUNCES EARNINGS
FOR THE FIRST QUARTER ENDED DECEMBER 31, 2008

Pittsburgh, Pennsylvania – Eureka Financial Corporation, (the "Company"), Pittsburgh, Pennsylvania, announced that earnings for the quarter ended December 31, 2008, were $2.9 million, or $2.26 diluted earnings per share, as compared to earnings of $145,000, or $.11 diluted earnings per share, for the quarter ended December 31, 2007. The earnings for the quarter ended December 31, 2008, included a deferred tax benefit of $2.6 million. Excluding the deferred tax benefit, the Company would have earned $205,000, or $.16 diluted earnings per share. The deferred tax benefit of $2.6 million is related to the other-than-temporary impairment charge of $7.8 million on Fannie Mae and Freddie Mac preferred stock holdings at September 30, 2008. This deferred tax benefit was not recorded until the first quarter as a result of the Emergency Economic Stabilization Act of 2008 not being enacted into law until October 3, 2008.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in Pittsburgh. The Company’s common stock trades in the over-the-counter market under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

EUREKA FINANCIAL CORPORATION

Selected Financial Data

(Dollars in thousands except per share data)

(Unaudited)

December 31

September 30,

2008

2008

Total assets

$

104,629

$

93,974

Cash and investments

9,729

8,172

Loans receivable, net

88,925

82,651

Allowance for loan losses

(729)

(760)

Deposits

80,184

80,229

Total liabilities

91,392

83,352

Stockholders' equity

$

13,237

$

10,622

Nonaccrual loans

$

317

$

321

Repossessed real estate

0

0

Total nonperforming assets

$

317

$

321

Allowance for loan losses to nonperforming loans

229.97%

236.76%

Nonperforming loans to net loans

0.36%

0.39%

Nonperforming assets to total assets

0.30%

0.34%

Book value per share

$

10.59

$

8.58

Number of common shares outstanding

1,250,100

1,237,898

                                Three Months Ended

                                'December 31, (Unaudited) 

2008

2007

Interest income

$

1,489

$

1,555

Interest expense

630

785

Net interest income

859

770

Provision for loan losses

25

20

Net interest income after provision for loan losses

834

750

Noninterest income

20

30

Noninterest expense

599

604

Income before income taxes

255

176

Income tax (benefit) expense

(2,597)

30

Net income

$

2,852

$

146

 


December 31, 2008

Contact: Gary B. Pepper
Chief Financial Officer
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – December 31, 2008– Edward F. Seserko, President of Eureka Financial Corp., Pittsburgh, Pennsylvania, announced today that the Corporation’s Board of Directors approved a regular quarterly cash dividend of $.15 per share. The $.15 cash dividend will be paid to stockholders of record as of January 15, 2009, on or about January 31, 2009. Eureka Financial Corp’s common stock is traded on the OTC (Over the Counter Market) under the symbol "EKFC."

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.


October 31, 2008

Contact:   Edward F. Seserko
President and CEO
(412) 681-8400

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE FOURTH QUARTER AND YEAR ENDED SEPTEMBER 30, 2008

Pittsburgh, Pennsylvania – Eureka Financial Corp. (the "Company"), the parent holding company for Eureka Bank (the "Bank"), Pittsburgh, Pennsylvania, today announced earnings for the fourth quarter and year ended September 30, 2008. The Company recorded an other-than-temporary impairment charge on its preferred stock holdings of Fannie Mae and Freddie Mac of $7.8 million in the quarter ended September 30, 2008. As a result of the Emergency Economic Stabilization Act of 2008 ("EESA"), which was enacted into law on October 3, 2008, the Company will record a deferred tax benefit of approximately $2.6 million in their first fiscal quarter ending December 31, 2008 associated with the other-than-tem