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May 26, 2015 7:50 AM ET

Thrifts and Mortgage Finance

Company Overview of Simplicity Bancorp, Inc.

Company Overview

Simplicity Bancorp, Inc. operates as the holding company for Simplicity Bank that provides a range of financial products and services in the United States. The company offers various deposit accounts, such as savings accounts, money market accounts, demand deposit accounts, and certificate of deposit accounts. It also provides one-to-four family residential mortgage loans and multi-family residential real estate loans; commercial real estate loans; and consumer loans, including new and used automobile and motorcycle loans, home equity lines of credit, unsecured loans, and loans secured by savings deposits. In addition, the company provides mortgage banking services, including originating, se...

1359 North Grand Avenue

Covina, CA 91724

United States

Founded in 1953

118 Employees

Phone:

626-339-9663

Key Executives for Simplicity Bancorp, Inc.

Chief Executive Officer, President, Director, Member of Executive Committee, Chief Executive Officer of Simplicity Bank, President of Simplicity Bank and Director of Simplicity Bank
Age: 44
Chief Financial Officer and Chief Financial Officer of Simplicity Bank
Age: 49
Chief Lending Officer
Corporate Secretary
Chief Administrative Officer of Simplicity Bank
Age: 67
Compensation as of Fiscal Year 2014.

Simplicity Bancorp, Inc. Key Developments

Simplicity Bancorp, Inc.(NasdaqGS:SMPL) dropped from NASDAQ Composite Index

Simplicity Bancorp, Inc. will be removed from NASDAQ Composite Index.

Simplicity Bancorp, Inc., Special/Extraordinary Shareholders Meeting, Feb 11, 2015

Simplicity Bancorp, Inc., Special/Extraordinary Shareholders Meeting, Feb 11, 2015. Agenda: To approve proposed merger between HomeStreet, Inc. and Simplicity Bancorp, Inc.

Simplicity Bancorp, Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended December 31, 2014

Simplicity Bancorp, Inc. reported unaudited earnings results for the second quarter and six months ended December 31, 2014. For the quarter, the company's net interest income was $5,935,000 against $6,734,000 a year ago. Income before income tax expense was $1,775,000 against $2,145,000 a year ago. Net income was $940,000 or $0.13 basic and diluted per share against $1,340,000 or $0.18 basic and diluted per share a year ago. Return on average assets, annualized was 0.43% against 0.63% a year ago. Return on average equity, annualized was 2.73% against 3.77% a year ago. Interest income was $7,578,000 against $8,301,000 a year ago. For the six months, the company's net interest income was $12,329,000 against $13,388,000 a year ago. Income before income tax expense was $3,814,000 against $3,969,000 a year ago. Net income was $2,017,000 or $0.29 basic and diluted per share against net income of $2,489,000 or $0.33 basic and diluted per share a year ago. Return on average assets, annualized was 0.46% against 0.59% a year ago. Return on average equity, annualized was 2.93% against 3.47% a year ago. Interest income was $15,642,000 against $16,595,000 a year ago. The decrease in net income for the quarter and six months was due primarily to decreases in net interest income and noninterest income, partially offset by decreases in noninterest expense and higher reversals in provision for loan losses.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 29, 2014
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