Printer Friendly

CONSTITUTION BANK ANNOUNCES RESULTS

 CONSTITUTION BANK ANNOUNCES RESULTS
 PHILADELPHIA, March 24 /PRNewswire/ -- Constitution Bank announced


today that for the period ending Dec. 31, 1991, it had realized a net operating loss after taxes of $3,921,536 on gross revenues of approximately $7,441,000.
 For the same period a year earlier, Constitution reported an operating profit of $1,037,000 on revenues of approximately $7,230,000. Constitution increased its loan loss reserve in 1991 to $5,980,000, up from $1,530,000 in 1990, and reported loan losses or charge-offs, net of recoveries, of approximately $3,934,000, up from $1,240,000 in 1990. Total assets increased from approximately $144,000,000 in 1990 to approximately $177,000,000 at the end of 1991. Net income per share decreased from approximately $0.07 per share in 1990, to a loss of approximately $0.26 per share in 1991.
 Constitution Bank is a state-chartered banking institution with a main office and two branches in the city of Philadelphia.
 /delval/
 -0- 3/24/92
 /CONTACT: Michael F. Beausang Jr. of Constitution Bank, 215-265-0800/ CO: Constitution Bank ST: Pennsylvania IN: FIN SU: ERN


MK-CC -- PH038 -- 1161 03/24/92 14:30 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 24, 1992
Words:199
Previous Article:MK RECEIVES NOTICE TO PROCEED ON $155-MILLION CONTRACT TO BUILD 88 NEW TRANSIT CARS FOR CALTRANS
Next Article:SEAGULL ENERGY REPORTS INCREASE IN PROVED RESERVES
Topics:


Related Articles
FIRST CONSTITUTION BANK NAMES EXECUTIVE VICE PRESIDENT
BCP AND BPE TO LAUNCH NEW FRENCH BANK
REGULATORY AGREEMENT, RECAPITALIZATION STUDY, BRANCH REDUCTION PLAN ANNOUNCED BY FIRST CONSTITUTION FINANCIAL
CONSTITUTION BANK PRESIDENT RESIGNS TO PURSUE OTHER INTERESTS
WEBSTER BANK ANNOUNCES OCCUPANCY PLANS FOR HARTFORD OFFICE SPACE; APPOINTS SENIOR MANAGER FOR GREATER HARTFORD COMMERCIAL BANKING
First Georgia Holding Company Named in Georgia 100 Best of Business.
1st Constitution Bank is Added as Partner to National Discount Brokers' B2B Financial Solutions.
1st Constitution Bancorp - Press Release.
1st Constitution Bancorp Press Release.
1ST Constitution Bank Acquires Local Retail Branch Banking Office.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters