1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
10qk
10qk
Articles 

Alliance Bankshares Corp. Reports Operating Results (10-K)

April 17, 2012 | About:

Alliance Bankshares Corp. (ABVA) filed Annual Report for the period ended 2011-12-31.

Alliance Bksh has a market cap of $21.4 million; its shares were traded at around $4.09 with and P/S ratio of 1.

Highlight of Business Operations:

December 31, 2011 compared to December 31, 2010. Total assets were $506.5 million as of December 31, 2011, a decrease of $32.0 million from the December 31, 2010 level of $538.5 million. As of year-end 2011, total loans were $306.9 million, trading securities were $596 thousand and investment securities were $123.5 million. The remaining balance of the earning assets were overnight federal funds sold of $16.6 million and restricted stocks of $4.8 million. These earning assets amounted to $452.3 million or 89.3% of total assets at year end 2011, as compared to $494.4 million or 91.8% of total assets as of year-end 2010.

December 31, 2010 compared to December 31, 2009. Total assets were $538.5 million as of December 31, 2010, a decrease of $37.8 million from the December 31, 2009 level of $576.3 million. As of year-end 2010, total loans were $332.3 million, trading securities were $2.1 million and investment securities were $135.9 million. The remaining balance of the earning assets were overnight federal funds sold of $17.9 million and restricted stocks of $6.4 million. These earning assets amounted to $494.5 million or 91.8% of total assets at year end 2010, as compared to $523.1 million or 90.8% of total assets as of year-end 2009.

Net interest income (on a fully tax equivalent basis) for the year ended December 31, 2011 was $16.2 million compared to $19.4 million for the same period in 2010. Interest income on earning assets was $5.3 million lower for the year ended December 31, 2011, compared to 2010. Of the $5.3 million decrease in interest income, $1.2 million is attributable to the $24.7 million lower average balance in loans. The decrease in yield from 5.94% to 5.65% in the loan portfolio also contributed $1.1 million to the decrease in interest income. The reduction in the average balance in the investment securities portfolio was $22.9 million and contributed $914 thousand to the reduction in interest income. The decrease in yield from 4.49% to 2.92% in the investment securities portfolio also contributed $2.0 million to the decrease in interest income. This was offset by the decrease in interest expense of $2.3 million. The average balance of interest-bearing deposits decreased by $41.6 million and contributed $839 thousand to the reduction in interest expense. The average rate paid on deposits improved to 1.48% from 1.96%, which reduced interest expense by $1.3 million. A lower average balance of borrowed funds offset a higher rate paid on borrowed funds.

Read the The complete Report

About the author:

10qk
Charlie Tian, Ph.D. - Founder of GuruFocus. You can now order his book Invest Like a Guru on Amazon.

Rating: 2.5/5 (2 votes)

Comments

Please leave your comment:


Performances of the stocks mentioned by 10qk


User Generated Screeners


jm.football1Test1
msacaccioSafal Niveshak
jbostwickosv growth small sort by marke
TarunEarngs gth, buybacks 0
TarunEarngs gth, buybacks
TarunP/S, buybacks
TarunP/E, buybacks
scott.hollenbergScreen 1
DANGORDONROC ROE 1YR RETURN
pbarker46Buying & selling guidlines
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat

{{numOfNotice}}
FEEDBACK