SI Financial Group, Inc. (SIFI) Reports Q1 EPS of $0.07

SI Financial Group, Inc. (NASDAQ: SIFI) reported Q1 EPS of $0.07, versus ($0.01) reported last year.

Net interest income increased $3.6 million to $10.0 million for the quarter ended March 31, 2014 from $6.3 million for the quarter ended March 31, 2013. Higher net interest income was due to an increase in the average balance of loans outstanding and a lower cost of funds, offset by an increase in the average balance of interest-bearing liabilities compared to the same quarter in 2013.

The provision for loan losses increased $295,000 to $430,000 for the first quarter of 2014 compared to the same period in 2013, primarily due to an increase in loans outstanding, offset by decreases in nonperforming loans and loan charge-offs.

For earnings history and earnings-related data on SI Financial Group, Inc. (SIFI) click here.

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