DSA Financial Corp. (DSFN.OB) Reports First Fiscal Quarter Earnings
DSA Financial Corporation reported earnings of $145,000 or $0.09 per share for its first fiscal quarter of 2010 ending 9/30/2009. The company reported earnings of $184,000 or $0.12 per share in the same quarter last year. The decline in earnings was attributed to a large increase in the provision for loan losses due to the recession and financial crisis. DSA Financial Corporation increased its provision for loan losses by 1000%, from $26,000 in last year’s first fiscal quarter to $225,000 in the quarter just ended. DSA Financial Corporation also declared its regular dividend of $0.105 per share of common stock.…