Bear State Financial Inc. of Little Rock reported Thursday first-quarter earnings of $4.9 million, up 48 percent from the same quarter last year.
The company (Nasdaq: BSF) said diluted earnings per share reached 13 cents, up from 9 cents in the same quarter last year. "Core earnings" were $5.9 million, or 15 cents per share, compared to $3.7 million, or 10 cents per share, in the same quarter last year.
Bear State also said quarterly revenue reached a record $23 million, up 12 percent from the same quarter of 2016.
The company also cited efficiency improvements, citing an efficiency ratio of 63 percent in the first quarter, down from 74 percent in the first quarter of 2016. The company said its core efficiency ratio was 56 percent, down from 72 percent in the same quarter last year.
Total assets were $2.17 billion at March 31, up 13 percent increase compared to $1.92 billion at March 31, 2016. Total loans were $1.64 billion, up 12 percent from last year. Total deposits were $1.67 billion, up 4 percent increase from last year.