December 04, 2016 5:52 AM ET

Thrifts and Mortgage Finance

Company Overview of Standard Financial Corp.

Company Overview

Standard Financial Corp. operates as a holding company for Standard Bank PaSB that provides various banking products and services in Pennsylvania and Maryland. The company accepts savings, checking, money market, individual retirement, college and future investment, corporate sweep, and non-profit checking and public fund accounts, as well as certificate of deposits. Its loan products include mortgage, refinance, construction, and home equity loans; and small business administration loans, commercial real estate loans, commercial lines of credit, heavy equipment financing, leasing, and term loans, as well as credit cards. The company also provides business services, such as merchant check ca...

2640 Monroeville Boulevard

Monroeville, PA 15146

United States

Founded in 1913

Phone:

412-856-0363

Key Executives for Standard Financial Corp.

Standard Financial Corp. does not have any Key Executives recorded.

Standard Financial Corp. Key Developments

Standard Financial Corp. Announces Unaudited Earnings for the Fourth Quarter and Full Year Ended September 30, 2016

Standard Financial Corp. announced unaudited earnings for the fourth quarter and full year ended September 30, 2016. The company reported earnings for the quarter ended September 30, 2016 of $401,000 or $0.16 per diluted share compared to $968,000 or $0.38 per diluted share a year ago.  Net income for the fourth quarter was significantly impacted by merger related expenses of $709,000 ($468,000 after tax) in connection with the pending merger with Allegheny Valley Bancorp Inc.  Excluding the after tax impact of the merger related expenses, operating income would have been $869,000 or $0.37 per share for the quarter ended September 30, 2016 compared to $968,000 or $0.38 per share for the quarter ended September 30, 2015.  The Company's annualized return on average assets and average equity were 0.33% and 2.19%, respectively, (0.71% and 4.75%, respectively, excluding the merger related expenses) for the quarter ended September 30, 2016 compared to 0.83% and 5.21%, respectively, for the quarter ended September 30, 2015. Net interest income was $3.187 million against $3.148 million a year ago. Income before income tax expense was $0.472 million against $1.417 million a year ago. For the twelve months ended September 30, 2016, net income was $3.0 million or $1.22 per diluted share compared to $3.5 million or $1.37 per diluted share for the twelve months ended September 30, 2015.  Excluding the after tax impact of merger related expenses, operating earnings would have been $3.5 million or $1.45 per share compared to $3.5 million or $1.40 per share for the twelve months ended September 30, 2015.  The company's annualized return on average assets and average equity were 0.64% and 4.14%, respectively, (0.73% and 4.78%, respectively, excluding the merger related expenses) for the twelve months ended September 30, 2016 compared to 0.77% and 4.76%, respectively, for the twelve months ended September 30, 2015. Net interest income was $12.630 million against $12.474 million a year ago. Income before income tax expense was $4.227 million against $5.005 million a year ago. Book value per share was $28.31 against $27.24 a year ago.

Standard Financial Corp. Declares Quarterly Cash Dividend, Payable on November 17, 2016

Standard Financial Corp.'s board of directors declared a quarterly cash dividend of $0.11 per share of the company's common stock.  The dividend will be payable to stockholders of record as of November 3, 2016 and will be paid on November 17, 2016.

Standard Financial Corp. and Allegheny Valley Bancorp Announces Management Changes

Standard Financial Corp. and Allegheny Valley Bancorp jointly announced the signing of a definitive merger agreement to form a partnership of their financial institutions that will result in a combined community banking franchise with total assets of nearly $1.0 billion and 18 branches located throughout Southwestern Pennsylvania and Western Maryland. The resulting holding company and bank will be led by Timothy K. Zimmerman, President and Chief Executive Officer of Standard Bank, as Chief Executive Officer, and Andrew W. Hasley, President and Chief Executive Officer of Allegheny Valley Bank, as President. Six existing members of the Allegheny Valley Bancorp board of directors will join the boards of Standard Financial and Standard Bank, creating a board consisting of 13 members.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 29, 2016
Allegheny Valley Bancorp Inc.
 

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