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DSA Financial Corporation Reports Earnings for the First Quarter Ended September 30, 2014 and Declares a Quarterly Dividend

LAWRENCEBURG, Ind., Oct. 8, 2014 (GLOBE NEWSWIRE) -- DSA Financial Corporation (OTCBB:DSFN) announced its financial results for the first quarter of fiscal year 2014. For the quarter ended September 30, 2014, the Company recorded net earnings of $244,000 or $0.15 per share. For the quarter ended September 30, 2013, the Company recorded net earnings of $235,000 or $0.15 per share, an increase of $9,000 or 3.8%.

The quarter-to-quarter increase in earnings was attributed primarily to a decrease of $50,000 or 6.9%, in general, administrative and other expense which was partially offset by a decrease of $33,000 or 3.5%, in net interest income. General, administrative and other expense was lower primarily due to a $37,000 decrease in expenses related to foreclosed real estate.

DSA Financial reported total assets of $116.1 million at September 30, 2014, total liabilities of $97.9 million, including deposits of $87.2 million and total stockholders' equity of $18.2 million.

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 November 7, 2014 to stockholders of record as of October 27, 2014.

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

DSA FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(unaudited, dollars in thousands except per share data)
ASSETS September 30,
2014
June 30,
2014
Cash and cash equivalents $ 2,558 $ 9,233
Investment and mortgage-backed securities 17,873 16,703
Loans receivable 86,132 86,663
Other assets 9,541 9,589
Total assets $ 116,104 $ 122,188
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits $ 87,228 $ 92,347
Advances from the FHLB 8,000 9,000
Other liabilities 2,718 2,693
Total liabilities 97,946 104,040
Stockholders' Equity 18,158 18,148
Total liabilities and stockholders' equity $ 116,104 $ 122,188
DSA FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
Three months ended
September 30,
2014 2013
Total interest income $ 1,059 $ 1,105
Total interest expense 162 175
Net interest income 897 930
Provision for losses on loans (20) (20)
Net interest income after provision for losses on loans 917 950
Other income 116 120
General, administrative and other expense 671 721
Earnings before income taxes 362 349
Income taxes 118 114
NET EARNINGS $ 244 $ 235
EARNINGS PER SHARE $ 0.15 $ 0.15

CONTACT: Steven R. Doll Vice President and CFO 812 537-0940Source:DSA Financial Corporation