ESB Financial Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported earnings of $0.29 per diluted share on net income of $3.5 million compared to earnings of $0.26 per diluted share on net income of $3.1 million for the quarter ended September 30, 2008, an 11.5% increase in net income per diluted share. The company's annualized return on average assets and average equity were 0.71% and 8.72%, respectively, for the quarter ended September 30, 2009, compared to 0.65% and 10.13%, respectively, for the quarter ended September 30, 2008. Consolidated net income increased $382,000, or 12.2%, to $3.5 million, compared to $3.1 million for the same period in the prior year. This increase was primarily the result of an increase in net interest income of $1.5 million and a decrease in provision for loan losses of $173,000, partially offset by a decrease in non-interest income of $210,000, as well as increases in non-interest expense, net income attributable to non controlling interest, related to the joint ventures and provision for income taxes of $749,000, $111,000 and $257,000, respectively. Net interest income increased in the third quarter primarily due to decreases in interest expense on deposits and borrowings of $2.8 million, partially offset by a decrease in interest income of $1.2 million. Interest income was $22.9 million compared to $24.1 million a year ago. Income before provision for income taxes was $4.4 million compared to $3.7 million a year ago. For the nine month, the company realized earnings of $0.80 per diluted share on net income of $9.7 million compared to earnings of $0.68 per diluted share on net income of $8.2 million for the same period in the prior year, a 17.6% increase in net income per diluted share. The company's annualized return on average assets and average equity were 0.65% and 8.45%, respectively, for the nine month ended September 30, 2009, compared to 0.57% and 8.44%, respectively, for the nine months ended September 30, 2008. Income was negatively affected by the Federal Deposit Insurance Corporation's decision to establish a special assessment of five basis points on all FDIC-insured financial institutions. Operating earnings without the effect of the special assessment would have been $0.85 per diluted share on net income of $10.3 million for the nine months ended September 30, 2009, a 25.0% increase in diluted earnings per share as compared to the same period in the prior year. Consolidated net income, as compared to the nine month period ended September 30, 2008, increased $1.4 million, or 17.3%, to $9.7 million from $8.2 million. This increase was primarily the result of an increase in net interest income of $5.3 million and a decrease in provision for loan losses of $168,000, partially offset by a decrease in non-interest income of $583 000, as well as increases in non-interest expense, net income attributable to non controlling interest which is related to the joint ventures, and provision for income taxes of $2.7 million, $48,000 and $636,000, respectively. Net interest income increased primarily due to decreases in interest expense on deposits and borrowings of $7.3 million, partially offset by a decrease in interest income of $2.0 million. Average stockholders' equity to average assets was 7.74% and book value per share was $13.92 at September 30, 2009, compared to 6.72% and $11.74, respectively, at December 31, 2008. Interest income was $69.8 million compared to $71.81 million a year ago. Income before provision for income taxes was $12 million compared to $9.9 million a year ago.

ESB Financial Corp. announced that its Board of Directors at its meeting on September 15, 2009 declared a quarterly cash dividend of $0.10 on the common stock payable on October 23, 2009 to the stockholders of record at the close of business on September 30, 2009.

ESB Financial Corp., Board Meeting, Sep 15, 2009 Agenda: To declare quarterly cash dividend of $0.10 on the common stock.