Corporate Profile for Affiliated Community Bancorp, dated June 20, 1997.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: June 20, 1997
Company Name: Affiliated Community Bancorp Inc.
Address: 716 Main Street
Waltham, MA 02154
Main Telephone
Number: 617-894-6810
Chief Executive
Officer: Timothy J. (Ted) Hansberry
Chief Financial
Officer: John G. Fallon
Investor Relations
Contact: John G. Fallon or Connie Hope
Trading Symbol/
Exchange: NASDAQ:AFCB
Industry: Bank
Market Makers: Keefe Bruyette & Woods, Advest, Paine Webber, M.A.
Schapiro & Co., Sandler O'Neill & Partners, Tucker Anthony Inc.,
Herzog Heine Geduld, FJ Morrissey
Company description: Affiliated Community Bancorp Inc. (NASDAQ NASDAQ 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 :AFCB AFCB ARC Fault Circuit Breaker AFCB Ahwatukee Foothills Concert Band (Phoenix, AZ) AFCB Authorized Function Control Block ) is the holding company for Lexington Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , The Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks and Middlesex Bank & Trust Co. Affiliated's subsidiary banks -- Lexington Savings Bank founded in 1871, The Federal Saving Bank founded in 1880 and Middlesex Bank & Trust Co. which started operations in 1997 -- have a total of twelve banking offices located in eight contiguous communities in Middlesex County For the traditional county of England, see Middlesex. For other uses, see Middlesex (disambiguation). Middlesex County is the name of six counties in North America:
AFCB has created a cost-effective customer alternative to regional bank consolidation using a strategy of affiliating high quality customer-focused community banks in a bank holding company. Strategically, the Affiliated banks are evolving into commercially oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. banks. In early 1996, the company completed a stock buyback Stock buyback A corporation's purchase of its own outstanding stock, usually in order to raise the company's earnings per share. stock buyback See buyback. program for 238,000 shares. The company also has a dividend reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. and stock purchase plan. AFCB completed a 5 for 4 stock split in May 1997.
March 31, 1997
Total Assets $1,054,997,000
Total Loans 667,998,000
Total Stockholders' Equity 103,049,000
Net Income ($.45 per share)-(a) 2,937,000
Equity to Assets 9.77%
Number of shares outstanding-(a) 6,456,457
Dividend-(a) $.12
Book Value-(a) $16.23
(a) adjusted for split
CONTACT: Affiliated Community Bancorp Inc. |
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