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Share Name | Share Symbol | Market | Type |
---|---|---|---|
New England Bancshares, Inc. (MM) | NASDAQ:NEBS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.73 | 0 | 01:00:00 |
New England Bancshares, Inc. (the “Company”) (NASDAQ GM: NEBS), the holding company for New England Bank, today announced net income for the quarter ended December 31, 2011 of $1,681,000, or $0.28 per diluted share, compared to $910,000, or $0.15 per diluted share, for the quarter ended December 31, 2010. For the nine months ended December 31, 2011 the Company reported net income of $3.4 million, or $0.57 per diluted share, as compared to $2.4 million, or $0.41 per diluted share, for the same period last year. President and Chief Executive Officer David J. O’Connor commented “Despite a business environment that has been challenging over the past several years, we are pleased to report record earnings for the quarter, continued loan growth and a strong capital position.”
Results – Quarter Ended December 31, 2011:
Results – Nine Months Ended December 31, 2011:
Statements contained in this news release, which are not historical facts, are 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, which include, but are not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time. Subject to applicable laws and regulation, the Company does not undertake – and specifically disclaims any obligation – to publicly release the results of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
New England Bancshares, Inc. is headquartered in Enfield, Connecticut, and operates New England Bank with fifteen banking centers servicing the communities of Bristol, Cheshire, East Windsor, Ellington, Enfield, Manchester, Plymouth, Southington, Suffield, Wallingford and Windsor Locks. For more information regarding New England Bank’s products and services, please visit www.nebankct.com.
Selected Financial Highlights(unaudited)(dollars in thousands, except per share data)
Income Statement Data
Three Months Ended December 31,
Nine Months Ended December 31,
2011 2010 2011 2010 Net interest and dividend income $ 5,712 $ 5,423 $ 16,915 $ 16,450 Provision for loan losses 362 359 1,237 1,666 Noninterest income 1,897 546 3,226 2,128 Noninterest expense 4,584 4,204 13,575 13,101 Net income 1,681 910 3,392 2,440 Earnings per share: Basic $ 0.29 $ 0.15 $ 0.57 $ 0.41 Diluted 0.28 0.15 0.57 0.41 Dividends per share $ 0.03 $ 0.03 $ 0.09 $ 0.07 Balance Sheet Data December 31, 2011 March 31, 2011 Total assets $ 724,602 $ 682,044 Total loans, net 548,132 526,595 Allowance for loan losses 5,578 5,686 Other real estate owned 1,559 1,496 Total deposits 575,461 540,769 Repurchase agreements 27,494 21,666 FHLB advances 37,577 39,113 Total equity 73,339 70,691 Non-accrual loans 14,603 13,442 Non-performing assets 16,162 14,938 Book value per share 12.21 11.48 Tangible book value per share 9.25 8.55 Key RatiosThree Months Ended December 31,
Nine Months Ended December 31,
2011 2010 2011 2010 Return on average assets 0.92 % 0.53 % 0.64 % 0.47 % Return on average equity 8.69 % 5.18 % 6.15 % 4.69 % Net interest margin 3.42 % 3.47 % 3.47 % 3.52 %
1 Year New England Bancshares, Inc. (MM) Chart |
1 Month New England Bancshares, Inc. (MM) Chart |
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