Belmont Bancorp. Reports One-Half Million Dollar Profit.Business Editors ST. CLAIRSVILLE St. Clairsville may refer to:
Belmont Bancorp. (Nasdaq:BLMT), parent corporation of Belmont National Bank, has reported net income for the half year of $586,000, representing significant improvement over 1999 first six months' loss of $3,554,000. For the three month period ending June 30, 2000, the corporation reported earnings of $526,000 which also compares favorably to the $945,000 net loss for the second quarter of 1999. Wilbur R. Roat, President and Chief Executive Officer of Belmont Bancorp. and Belmont National Bank, stated the corporation's second quarter results include some one-time benefits. "During the quarter, we received approximately $256,000 in interest income on federal income tax refunds of $5.2 million. In addition, we applied $174,000 as a reduction of legal expenses Belmont incurred to recover approximately $2.5 million of Schwartz related bankruptcy assets. Both of these items are reflected in our earnings for the second quarter," said Roat. Earnings per common share for the six month period ending June 30, 2000 were $0.09, compared to a loss of $0.68 per share for the first six months of 1999. On a quarterly basis, earnings per share were $0.07 for the second quarter of this year, versus an $0.18 loss per share for the same three months in 1999. As a result of over $11.7 million raised through its recent common stock offering, Belmont National Bank reports its tier 1 capital Tier 1 Capital A term used to describe the capital adequacy of a bank. Tier I capital is core capital, this includes equity capital and disclosed reserves. Notes: Equity capital includes instruments that can't be redeemed at the option of the holder. leverage ratio is 6.77% as of June 30, 2000, exceeding the level specified in the bank's agreement with the Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (or OCC) was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and the federal branches and agencies of foreign banks in the United States. . Belmont Bancorp. is a holding company with Belmont National Bank offices in Bellaire, Bridgeport, Cadiz, Lansing, New Philadelphia New Philadelphia, city (1990 pop. 15,698), seat of Tuscarawas co., E Ohio, on the Tuscarawas River, in a coal and clay area; founded 1804, inc. 1833. Foundry products, machinery, and pottery are made. The Tuscarawas Campus of Kent State Univ. is there. , St. Clairsville, Schoenbrunn and Shadyside, Ohio “Shadyside” redirects here. For other uses, see Shadyside (disambiguation). Shadyside is a village in Belmont County, Ohio, United States, along the Ohio River. It is part of the Wheeling, West Virginia Metropolitan Statistical Area. , and in the Woodsdale and Elm Grove Elm Grove may refer to:
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