Belmont Bancorp. reports record earnings for 1995.ST. CLAIRSVILLE St. Clairsville may refer to:
Net income after taxes increased by 30 percent from 1994 annual earnings of $3,234,000. Earnings for the fourth quarter of 1995 were $882,000, compared to $666,000 for the same period in 1994. J. Vincent Ciroli Jr., president and chief executive officer of Belmont Bancorp. and Belmont National Bank, said, "We continue to judge ourselves by our return on equity; equity represents what we are returning to our shareholders. The 18.9 percent return on average common equity for 1995 represents another excellent year for our shareholders and compares very favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. to peer banks." Belmont Bancorp. declared a 13 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. cash dividend for the fourth quarter payable on Dec. 29, 1995, to its shareholders of record as of Dec. 19, 1995. Third and fourth quarter cash dividends were increased 18 percent from 11 cents per share to 13 cents per share quarterly as a result of continuing strong performance. Total dividends paid for 1995 increased 25 percent compared to the prior year. In addition to the dividend increase, the corporation early in 1995 declared a two-for-one stock split payable in the form of a 100 percent common stock dividend on May 8, 1995. Earnings per common share for the 12 month period ending Dec. 31, 1995 were $1.95 compared to $1.49 for the prior year, representing a 31 percent increase. On a quarterly basis, earnings per share were 41 cents for the fourth quarter of 1995 compared to 31 cents for the same three month period of 1994. Belmont Bancorp. had total assets of $317,279,000 on Dec. 31, 1995, reflecting a 1.4 percent increase over Dec. 31, 1994 total assets of $312,963,000. The allowance for possible loan losses at Dec. 31, 1995 was $2,703,000 compared to $1,537,000 at Dec. 31, 1994. The provision for loan losses was $1,150,000 and $805,000 for the year ended 1995 and 1994, respectively. For the quarter ended Dec. 31, 1995, the provision for loan losses was $250,000 compared to $200,000 for the comparative period last year. Nonperforming assets Nonperforming asset An asset that is not effectively producing income, such as an overdue loan. nonperforming asset An asset that produces no income. amounted to $755,000 at Dec. 31, 1995, down from $1,075,000 at Dec. 31, 1994. Belmont National Bank has offices in Bridgeport, Cadiz, Jewett, 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. , The Ohio Valley Mall Valley Mall may refer to:
in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on company under the symbol BLMT. CONTACT: Belmont Bancorp., St. Clairsville J. Vincent Ciroli Jr., 614/695-3323 |
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