Building society IMB Group has reported a flat result for the six months to December, with small falls in profit and its loan book.IMB made a net profit of A$13.7 million for the December half - down 2.8 per cent on the previous corresponding period. Earnings are down 9.3 per cent since the December half in 2011.Loans and receivables to members fell from $3.75 billion in December 2012 to $3.67 billion at the end of the latest half.Deposits inched up from $3.54 billion to $3.57 billion over the same period.IMB chief executive Robert Ryan said in a statement that it was a "challenging environment" for financial institutions. Ryan said the highlights were an increase in IMB's capital ratio, which now stands at 16.4 per cent, a 26.6 per cent liquidity ratio, and the maintenance of the net interest margin at around two per cent.At the mutual's annual general meeting last year, chairman Michael Cole said the board had refocused its attention on being an active participant in the mutual industry's rationalisation. Cole said: "We believe this is a scale business. The strong financial metrics of IMB support its position to be a merger partner of choice for other small ADIs."He said organic growth was a challenge, given weak demand for loans.Cole said IMB was also reviewing its structure with a view to becoming a mutual bank.