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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

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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-temporary impairment losses. Before the enactment of EESA, such losses would have been treated as capital losses for both tax and financial reporting purposes. Under EESA, ordinary loss treatment is available to financial institutions for such securities.

For the three months ended September 30, 2008, the Company lost $7.8 million, or $11.88 diluted earnings per share, as compared to earnings of $153,000, or $0.12 diluted earnings per share, for the three months ended September 30, 2007. For the year ended September 30, 2008, the Company lost $7.2 million, or $5.70 diluted earnings per share, as compared to earnings of $762,000, or $0.60 diluted earnings per share, for the year ended September 30, 2007.

Edward Seserko, President and Chief Executive Officer, stated "While this loss certainly impaired net income for year ended September 30, 2008, the Bank remains well capitalized. We are looking forward to putting this one-time write down behind us and focusing on restoring net income to normal levels."

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.

 

September 23, 2008

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

EUREKA FINANCIAL CORPORATION ANNOUNCES QUARTERLY DIVIDEND

Pittsburgh, Pennsylvania – Eureka Financial Corporation (the "Company"), Pittsburgh, Pennsylvania (OTCBB: EKFC), announced today that it is reducing its quarterly dividend from $0.35 per share to $0.15 per share, beginning immediately. The dividend will be paid on October 31, 2008 to stockholders of record at the close of business on October 15, 2008.

Edward F. Seserko, President and Chief Executive Officer, stated, "The Bank’s Tier I capital ratio is expected to be approximately 10.0% at September 30, 2008, after factoring in the Fannie Mae and Freddie Mac securities impairment charge. Under regulatory standards, the Bank will remain "well capitalized.". Nevertheless, the Board of Directors and senior management feel it is imperative to retain and build capital given the current extraordinarily difficult operating environment. Further, the lower dividend reflects the Board’s expectation of lower future net income due to the absence of the receipt of dividend income from holdings of Fannie Mae and Freddie Mac preferred stock, which totaled approximately $500,000 in fiscal 2008. This decision was made after great thought, market evaluation and capital needs analysis."

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.

September 10, 2008

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

EUREKA FINANCIAL CORPORATION ANNOUNCES IMPAIRMENT
ON FANNIE MAE AND FREDDIE MAC STOCK;
REMAINS “WELL CAPITALIZED”

Pittsburgh, Pennsylvania – Eureka Financial Corporation (the “Company”), Pittsburgh, Pennsylvania (OTCBB: EKFC), announced today that it intends to take a non-cash impairment charge on the Fannie Mae and Freddie Mac preferred and common stock it owns.  At June 30, 2008, these investments had an amortized cost of $8.2 million and a total market value of $6.8 million.  Management determined that any decline in value of such securities at June 30, 2008 was not other than temporary.

However, since June 30, 2008, the market value of these securities has declined significantly.  On September 7, 2008, the United States Department of Treasury announced that it was seizing control of Fannie Mae and Freddie Mac and prohibiting those entities from paying dividends on its common and preferred securities.  These actions caused the market value of the preferred and common stock to fall to minimal levels.  Because of the apparent unlikelihood that Fannie Mae and Freddie Mac preferred and common stock will recover their value, the Company will record an other than temporary impairment charge in its fiscal fourth quarter, which ends September 30, 2008, based on the then existing fair market value of the Fannie Mae and Freddie Mac preferred and common stock owned by the Company.

Management has calculated that, assuming a worst case scenario in which the securities have no value, that even after the impairment charge, the capital ratios of the Company’s subsidiary, Eureka Bank, will remain above the amounts necessary to be categorized as “well-capitalized” under current regulatory requirements at September 30, 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.

July 28, 2008

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

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE THREE AND NINE MONTHS ENDED JUNE 30, 2008

Pittsburgh, Pennsylvania – Eureka Financial Corp., (the "Company"), the parent holding company for Eureka Bank, (the "Bank"), Pittsburgh, Pennsylvania, announced earnings for the three and nine months ended June 30, 2008. For the three months ended June 30, 2008, the Company earned $169,000, or $.13 diluted earnings per share, as compared to earnings of $169,000 or $.13 diluted earnings per share, for the three months ended June 30, 2007. For the nine months ended June 30, 2008, the Company earned $473,000, or $.37 diluted earnings per share, as compared to earnings of $609,000 or $.48 diluted earnings per share, for the nine months ended June 30, 2007.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in Pittsburgh. The Company’s common stock trades 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.

EUREKA FINANCIAL CORPORATION
Selected Financial Data
(Dollars in thousands except per share data)
   (Unaudited)
June 30, September 30,
2008 2007
Total assets $ 98,953 $ 100,483
Cash and investments 15,388 21,427
Loans receivable, net 80,177 76,027
Allowance for loan losses (670) (590)
Deposits 79,729 73,078
Total liabilities 81,525 80,506
Stockholders' equity $ 17,428 $ 19,977
Nonaccrual loans $ 168 $ 328
Repossessed real estate 0 25
Total nonperforming assets $ 168 $ 353
Allowance for loan losses to nonperforming loans 398.81% 179.88%
Nonperforming loans to net loans 0.21% 0.43%
Nonperforming assets to total assets 0.17% 0.35%
Book value per share $ 14.11 $ 16.16
Number of common shares outstanding 1,234,760 1,235,858
Three Months Ended    

Nine Months Ended      

June 30, (Unaudited)

June 30, (Unaudited)

2008 2007 2008 2007
Interest income              $ 1,531 $ 1,488            $ 4,637 $ 4,423
Interest expense 695 726 2,226 2,120
  Net interest income 836 762 2,411 2,303
Provision for loan losses 30 19 80 44
Net interest income after provision for loan losses 806 743 2,331 2,259
Noninterest income 32 22 84 67
Noninterest expense 620 574 1,839 1,596
Income before income taxes 218 191 576 730
Income tax expense 49 22 103 121
Net income              $ 169 $ 169            $ 473 $ 609

June 17, 2008

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

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – June 17, 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 $.35 per share. The $.35 cash dividend will be paid, on or about July 31, 2008, to stockholders of record as of July 15, 2008.

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 25, 2008

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

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE THREE AND SIX MONTHS ENDED MARCH 31, 2008

Pittsburgh, Pennsylvania – Eureka Financial Corp., (the "Company"), the parent holding company for Eureka Bank, (the "Bank"), Pittsburgh, Pennsylvania, announced earnings for the three and six months ended March 31, 2008. For the three months ended March 31, 2008, the Company earned $158,000, or $.12 diluted earnings per share, as compared to earnings of $200,000 or $.16 diluted earnings per share, for the three months ended March 31, 2007. For the six months ended March 31, 2008, the Company earned $304,000, or $.24 diluted earnings per share, as compared to earnings of $440,000 or $.35 diluted earnings per share, for the six months ended March 31, 2007.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates two offices in Pittsburgh. The Company’s common stock trades 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.

 

EUREKA FINANCIAL CORPORATION

Selected Financial Data

(Dollars in thousands except per share data)

(Unaudited)

March 31,

September 30,

2008

2007

Total assets

$

99,703

$

100,483

Cash and investments

16,495

21,427

Loans receivable, net

79,761

76,027

Allowance for loan losses

(640)

(590)

Deposits

78,995

73,078

Total liabilities

81,620

80,506

Stockholders' equity

$

18,083

$

19,977

Nonaccrual loans

$

146

$

328

Repossessed real estate

0

25

Total nonperforming assets

$

146

$

353

Allowance for loan losses to nonperforming loans

438.36%

179.88%

Nonperforming loans to net loans

0.18%

0.43%

Nonperforming assets to total assets

0.15%

0.35%

Book value per share

$

14.57

$

16.16

Number of common shares outstanding

1,241,222

1,235,858

Three Months Ended

Six Months Ended

March 31,
(Unaudited)

March 31,
(Unaudited)

2008

2007

2008

2007

Interest income

$

1,551

$

1,476

$

3,106

$

2,935

Interest expense

746

703

1,531

1,394

Net interest income

805

773

1,575

1,541

Provision for loan losses

30

18

50

25

Net interest income after provision for loan losses

775

755

1,525

1,516

Noninterest income

22

22

52

45

Noninterest expense

615

533

1,219

1,022

Income before income taxes

182

244

358

539

Income tax expense

24

44

54

99

Net income

$

158

$

200

$

304

$

440

 

               

Information for inclusion in narrative:

Net Income

$

158,000

$

200,000

$

304,000

$

440,000

Earnings Per Share - Basic

$

0.13

$

0.16

$

0.25

$

0.36

Earnings Per Share - Diluted

$

0.12

$

0.16

$

0.24

$

0.35

 

March 25, 2008

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

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – March 25, 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 $.35 per share. The $.35 cash dividend will be paid, on or about April 30, 2008, to stockholders of record as of April 15, 2008.

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.

December 19, 2007

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

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – December 19, 2007– 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 $.35 per share. The $.35 cash dividend will be paid to stockholders of record as of January 15, 2008, on or about January 31, 2008. 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 1, 2007

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

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE FOURTH QUARTER AND YEAR ENDED SEPTEMBER 30, 2007

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, 2007. For the three months ended September 30, 2007, the Company earned $146,000, or $0.12 diluted earnings per share, as compared to earnings of $244,000, or $0.19 diluted earnings per share, for the three months ended September 30, 2006. For the fiscal year ended September 30, 2007, the Company earned $755,000, or $0.60 diluted earnings per share, as compared to earnings of $1.0 million, or $0.82 diluted earnings per share, for the fiscal year ended September 30, 2006.

The earnings for the fiscal year ended September 30, 2007, reflect an increase in interest expense of approximately $550,000 from the fiscal year ended September 30, 2006. This market-driven expense compressed the Company’s margins, which caused the decline in earnings for the fiscal year ended September 30, 2007.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates one office in the Oakland community 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)

(Unaudited)

September 30,

September 30,

2007

2006

Total assets

$

100,674

$

96,478

Cash and investments

22,084

22,590

Loans receivable, net

75,388

70,817

Allowance for loan losses

(590)

(613)

Deposits

72,906

67,862

Total liabilities

80,509

76,040

Stockholders' equity

$

20,165

$

20,438


Nonaccrual loans

$

328

$

338

Repossessed real estate

25

400

Total nonperforming assets

$

353

$

738


Allowance for loan losses to nonperforming loans

179.88%

181.36%

Nonperforming loans to net loans

0.44%

0.48%

Nonperforming assets to total assets

0.35%

0.76%

Book value per share

$

16.32

$

16.62

Number of common shares outstanding

1,235,858

1,229,493


Three Months Ended

Twelve Months Ended

September 30, (Unaudited)

September 30, (Unaudited)

2007

2006

2007

2006

Interest income

$

1,523

$

1,417

$

5,946

$

5,559

Interest expense

764

644

2,884

2,333

Net interest income

759

773

3,062

3,226

Provision for loan losses

42

15

86

27

Net interest income after provision for loan losses

717

758

2,976

3,199

Noninterest income

20

31

87

102

Noninterest expense

516

486

2,112

2,037

Income before income taxes

221

303

951

1,264

Income tax expense

75

59

196

226

Net income

$

146

$

244

$

755

$

1,038

September 19, 2007

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

EUREKA FINANCIAL CORP. ANNOUNCES
QUARTERLY CASH DIVIDEND

Pittsburgh, Pennsylvania – September 19, 2007– 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 $.35 per share. The $.35 cash dividend will be paid to stockholders of record as of October 15, 2007, on or about October 31, 2007. 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 20, 2007

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

EUREKA FINANCIAL CORP. ANNOUNCES EARNINGS
FOR THE THREE AND NINE MONTHS ENDED JUNE 30, 2007

Pittsburgh, Pennsylvania – Eureka Financial Corp., (the "Company"), the parent holding company for Eureka Bank, (the "Bank"), Pittsburgh, Pennsylvania, announced earnings for the three and nine months ended June 30, 2007. For the three months ended June 30, 2007, the Company earned $169,000, or $.13 diluted earnings per share, as compared to earnings of $258,000, or $.20 diluted earnings per share, for the three months ended June 30, 2006. For the nine months ended June 30, 2007, the Company earned $609,000, or $.48 diluted earnings per share, as compared to earnings of $794,000 or $.62 diluted earnings per share, for the nine months ended June 30, 2006.

The Bank, founded in 1886, is a federally chartered stock savings bank and operates one office in the Oakland community 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)

June 30,

September 30,

2007

2006

Total assets

$

97,612

$

96,478

Cash and investments

20,803

22,590

Loans receivable, net

73,704

70,817

Allowance for loan losses

(563)

(613)

Deposits

72,528

67,862

Total liabilities

77,388

76,040

Stockholders' equity

$

20,224

$

20,438

Nonaccrual loans

$

152

$

338

Repossessed real estate

101

400

Total nonperforming assets

$

253

$

738

Allowance for loan losses to nonperforming loans

370.39%

181.36%

Nonperforming loans to net loans

0.21%

0.48%

Nonperforming assets to total assets

0.26%

0.76%

Book value per share

$

16.39

$

16.62

Number of common shares outstanding

1,234,193

1,229,493