FSB Bancorp, Inc. (FSBC) 2012年年度报告「NASDAQ」.pdf

1、April22,2013DearShareholder,AsaninstitutionthatispredominantlyaresidentialmortgagelenderandretaildepositgathereryourFairportSavingsBank(FSB)weatheredthevagariesofeachofthosemarketsoverthepastyear.DeclininginterestratescreatedongoingnetinterestmarginpressurefortheBank.Thatpressuredidnot,however,deter

2、usfromcontinuingwithourretailbranchgrowthplansandtheexpansionofourmortgageoriginationcapacity.TheinvestmentwearemakinginourretaildeliveryfranchiseputsfurtherpressureonearningsbutalsopositionstheBanktotakeadvantageofgrowthopportunitiesinourprimarymarkets.Thedirectorsandmanagementarecommittedtocontinu

3、ingassetgrowththatsupportssustainedearnings.Ourresultsfor2012reflectthatcommitment:Totalassetsdecreasedby$7.3million,or3.3%from$223.3millionatDecember31,2011to$216.0millionatDecember31,2012.NetLoansreceivablegrewby$20.8million,or16.4%from$126.7millionatDecember31,2011to$147.5millionatDecember31,2012

4、.Depositsdecreasedby$13.5million,or7.6%from$177.2millionatDecember31,2011to$163.7millionatDecember31,2012.Netincomeincreasedby$128thousandfromalossof$72thousandin2011toaprofitof$56thousandin2012.Thecreditqualityofourloanportfolioremainedstrongwithnononperformingorimpairedloansatyearend2012.Aswedevel

5、opourloanoriginationcapacityandraiseourgoalsforloangrowthwecontinuetoemploythesameconservativeunderwritingstandardsthathavehelpedustomaintainouroutstandingloanportfolio.Loanswechoosetoholdinourportfolioandloansthatwesellintothesecondarymarketreceivethesamediligentreviewforunderwriting.Thecomingyearw

6、illtestourabilitytomanageourinterestmarginandtothoughtfullycontroltheoperatingexpenseincreasesthatareresultingfromourcontinuedgrowth.Theregulatoryenvironmentinwhichwefindourselvesputsaddedpressureonnonearningactivities.Asthenewregulatoryroutinesareintroducedwewillincorporatethoseregimensintoourproce