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CKF Bancorp reports fall in Q1 net earnings

CKF Bancorp has reported that its consolidated net earnings for the first quarter ended March 31, 2008 were $150,283 compared to $257,824 earned in the corresponding quarter of 2007.

Diluted earnings per share for the period were $0.12 compared to $0.20 for the same period in 2007. Net interest income for the period was $961,572, a decrease from the net interest income of $1.07 million posted during the comparable period in 2007.

Total assets as at March 31, 2008 decreased to $148 million from $149.6 million as at December 31, 2007. Loans receivable as at March 31, 2008 were $124.4 million compared to $132.9 million as at December 31, 2007. Deposits for the same dates improved to $108.7 million from $106.9 million.