State Investors reports quarterly earnings

Metairie-based State Investors Bancorp Inc., the holding company of State-Investors Bank, reported fourth-quarter earnings rose to $179,000, or 7 cents per share, compared to $97,000, 4 cents per share, a year ago.

For 2013, State Investors reported earnings dropped to $508,000, or 20 cents per share, compared to $752,000, or 26 cents per share, in 2012.

The fourth-quarter results were higher mainly because of an increase in interest income, less money set aside for loan losses and lower interest expenses.

State Investors said the 2013 results were hurt by a $348,000 drop in interest income as well as lower amounts of non-interest income and increases in non-interest expenses.