DSA Financial Corporation Reports Earnings for the Third Quarter Ended March 31, 2015 and Declares a Quarterly Dividend

LAWRENCEBURG, Ind., April 10, 2015 (GLOBE NEWSWIRE) -- DSA Financial Corporation (OTCBB:DSFN) announced its financial results for the third fiscal quarter ended March 31, 2015. The Company recorded net earnings of $201,000 or $0.12 per share, reflecting a decrease of $9,000 as compared to the same quarter ended March 31, 2014, when the Company reported net earnings of $210,000, or $0.13 per share.

The quarter-to-quarter decrease in earnings was attributed primarily to a $61,000, or 6.5%, decrease in net interest income and a $56,000 or 32.4%, decrease in other income primarily offset by a $102,000 or 12.9%, decrease in general, administrative and other expense. General, administrative and other expense was lower due to an $118,000 decrease in operating expenses in our subsidiary which disposed of two properties acquired through foreclosure in May and October, 2014. Other income was lower in 2015 due to a one time $65,000 insurance claim received in March, 2014.

Net earnings for the nine months ended March 31, 2015 were $728,000, or $0.44 per share, an increase of $17,000, or 2.4%, as compared to the nine month period ended March 31, 2014. The increase in earnings was attributed to a $168,000 or 7.5%, decrease in general, administrative and other expense offset by an $114,000 or 4.1%, decrease in net interest income and a $26,000 or 7.4%, increase in income taxes. General, administrative and other expense was lower due to property acquired through foreclosure expenses showing a decrease of $170,000 as compared to the nine month period ended March 31, 2014. Other income reflected a slight increase of $9,000 primarily as the gain on sale of investments for the nine month period ended March 31, 2015, increased by $68,000 which offset the aforementioned $65,000 insurance claim received in March, 2014.

In addition, Edward L. Fischer, President and Chief Executive Officer of DSA Financial, announced today that the Company's board of directors has declared a dividend on its common stock of $0.11 per share. The dividend is payable on May 8, 2015 to stockholders of record as of April 24, 2015.

DSA Financial reported total assets of $118.1 million at March 31, 2015, total liabilities of $99.8 million, including deposits of $89.4 million and total stockholders' equity of $18.3 million.

DSA Financial Corporation is the holding company for Dearborn Savings Bank, a federally chartered savings bank headquartered in Lawrenceburg, Indiana. Dearborn Savings operates through its main office and one branch office.