Allaire Community Bank Announces Net Income for Third Quarter 2002.Business Editors SEA GIRT, N.J.--(BUSINESS WIRE)--Nov. 8, 2002 Allaire
For the nine month period ended September 30, 2002, net income was $678,100 compared to the same nine-month period ended September 30, 2001 of $64,700. Basic per share earnings for the nine-month period ended September 30, 2002 was $.55 compared to $.05 for September 30, 2001. The Bank has been profitable for 14 consecutive quarters. As of September 30, 2002, the Bank had total assets of $142,678,000, an increase of $42,097,000 or 41.9% since December 31, 2001. Total deposits increased to $129,378,000, an increase of $40,443,000 or 45.5% since December 31, 2001. Our net loan portfolio continues to increase and has grown to $79,804,000, an increase of $16,145,000 or 25.4% since December 31, 2001. Allaire Community Bank continues to be recognized by Veribanc, Inc. as a "Blue Ribbon blue ribbon denotes highest honor. [Western Folklore: Brewer Dictionary, 127] See : Prize Bank". The Blue Ribbon Award is reserved for highly rated institutions that demonstrate exceptional attention to safety, soundness and financial strength. Allaire Community Bank will be opening its sixth office on Main Street and 7th Avenue, Belmar, NJ during November 2002. The Bank currently operates additional offices in Wall Township, Bradley Beach, Manasquan, Neptune City and Point Pleasant Borough. Any questions can be directed to Carl F. Chirico, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , or Robert S Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. . Vuono, Executive Vice President & CFO See Chief Financial Officer. at (732) 292-0500. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion