MONROEVILLE, Pa., April 18, 2013 (GLOBE NEWSWIRE) -- Standard Financial Corp. (the "Company") - (Nasdaq:STND), the holding company for Standard Bank PaSB, today announced earnings for the quarter ended March 31, 2013 of $721,000 or $0.24 per share compared to $782,000 or $0.25 per share for the quarter ended March 31, 2012. The Company's annualized return on average assets and average equity were 0.66% and 3.65%, respectively, for the quarter ended March 31, 2013 compared to 0.71% and 3.97%, respectively, for the quarter ended March 31, 2012.

For the six months ended March 31, 2013, net income was $1.5 million or $0.48 per share compared to $1.6 million or $0.51 per share for the six months ended March 31, 2012. The Company's annualized return on average assets and average equity were 0.68% and 3.71%, respectively, for the six months ended March 31, 2013 compared to 0.74% and 4.11%, respectively, for the six months ended March 31, 2012.

The Company's board of directors declared a quarterly cash dividend of $.045 per share of the Company's common stock. The dividend will be payable to stockholders of record as of May 1, 2013 and will be paid on May 15, 2013.

Timothy K. Zimmerman, President & CEO, stated, "We are pleased with the quarterly results given the very difficult operating environment. The decrease in non-performing loans during the quarter is very encouraging. Historically low interest rates and weak loan demand are continuing to create challenges to earnings. Our focus remains on generating other sources of revenue, controlling expenses and increasing loan production."

Net income for the quarter ended March 31, 2013 decreased $61,000 or 7.8% compared to the same quarter in the prior year. The decrease was primarily the result of a decline in net interest income of $238,000 or 7.3% and an increase in noninterest expenses of $167,000 or 6.7% partially offset by a decrease in the provision for loan losses of $150,000 or 50.0% and an increase in noninterest income of $103,000 or 17.4% for the quarter ended March 31, 2013 compared to the same quarter in the prior year.

Net income for the six months ended March 31, 2013 decreased $138,000 or 8.6% compared to the same six months in the prior year. The decrease was primarily the result of a decline in net interest income of $514,000 or 7.8% and an increase in noninterest expenses of $194,000 or 3.9% partially offset by a decrease in the provision for loan losses of $225,000 or 37.5% and higher noninterest income of $195,000 or 16.5% for the six months ended March 31, 2013 compared to the six months ended March 31, 2012.

Net interest income declined from $3.3 million and $6.6 million for the three and six months ended March 31, 2012, respectively, to $3.0 million and $6.1 million for the three and six months ended March 31, 2013, respectively. The decreases in net interest income for both periods resulted primarily from a lower yield on interest-earning assets partially offset by a lower cost of funds.

The provision for loan losses was $150,000 for the current quarter compared to $300,000 for the quarter ended March 31, 2012 and $375,000 for the six months ended March 31, 2013 compared to $600,000 for the six months ended March 31, 2012. Non-performing loans at March 31, 2013 were $2.7 million or 0.96% of total loans compared to $4.0 million or 1.34% of total loans at September 30, 2012 and $4.4 million or 1.48% of total loans at March 31, 2012.

Noninterest income totaled $694,000 for the quarter ended March 31, 2013 compared to $591,000 for the quarter ended March 31, 2012 and $1.4 million for the six months ended March 31, 2013 compared to $1.2 million for the six months ended March 31, 2012. The increases for both periods in noninterest income were due mainly to higher earnings on bank-owned life insurance, increased gains on loan and security sales, and higher service fee income.

Noninterest expenses totaled $2.7 million for the quarter ended March 31, 2013 compared to $2.5 million for the quarter ended March 31, 2012 and $5.1 million for the six months ended March 31, 2013 compared to $4.9 million for the six months ended March 31, 2012. The increases for both periods were mainly in compensation and employee benefit costs resulting from expenses relating to stock based awards issued on July 26, 2012 and higher medical insurance costs.

Standard Financial Corp., with total assets of $436.3 million at March 31, 2013, is the parent company of Standard Bank, a Pennsylvania chartered savings bank which operates ten offices serving individuals and small to mid-sized businesses in Allegheny, Westmoreland and Bedford Counties, in Pennsylvania and Allegany County in Maryland.  Standard Bank is a member of the FDIC and an Equal Housing Lender.

This news release may contain a number of forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, including, but not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

CONTACT: Timothy K. Zimmerman
         President & Chief Executive Officer
         412.856.0363
         
         Colleen M. Brown
         Chief Financial Officer
         412.856.0363