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Corporate Profile for Atlantic Bank and Trust Company, dated May 7, 1996.


--(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 information services See Information Systems. .

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Published date:   May 3, 1996


Company name:     Atlantic Bank and Trust Company


Address:          200 State Street
                  Boston, MA 02109


Telephone No.:    617/330-8585


Chief Executive
 Officer:         Richard Wayne/ Nicholas Lazares


Chief Financial
 Officer:         John L. Champion


Investor & Public
 Relations
 Contact:         Kimberly A. Simpson, A.V.P.
 Business number: 617/330-8585
 Home number:     N/A


Trading symbol:   ATLB - Nasdaq


Industry:         banking


Market Makers:    Friedman, Billings & Ramsey Inc.




Company description: Established in 1988, Atlantic Bank and Trust Company, a Massachusetts trust A business arrangement that is used in place of a corporation or partnership in which trustees hold title to property for the advantage of beneficiaries for investment purposes.  company, is a commercial bank with its executive and main offices in downtown Boston and a branch in Chestnut Hill Chestnut Hill may refer to:

In geography:
  • Chestnut Hill, Cumbria, England
  • Chestnut Hill, Massachusetts, United States
  • Chestnut Hill, Philadelphia, Pennsylvania, United States
  • Chestnut Hill, West Virginia, United States
In education
, Mass.

The bank focuses on selected business lines that include the acquisition of discounted commercial loans from private sector sellers and government agencies and the origination of various types of secured commercial loans, including premium-priced, specialty loans to provide short-term financing for investment and entrepreneurial activities, and loans guaranteed by the U.S. Small Business Administration and serviced by the bank. The bank funds the foregoing activities with deposits consisting primarily of certificates of deposit. The bank also offers retail deposit services, including checking and savings accounts Savings Account

A deposit account intended for funds that are expected to stay in for the short term. A savings account offers lower returns than the market rates.

Notes:
, and related services to businesses and individuals through the nationwide banking networks.

At Dec. 31, 1995, Atlantic had total assets of $163.2 million, deposits of $149.1 million and shareholders' equity Shareholders' Equity

A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares.
 of $12.0 million. The bank's net income has increased from $681,000 in 1993 to $1.1 million in 1994 and $2.4 million in 1995. The bank's improving profitability has resulted largely from the bank's net interest income which totaled $9.2 million, $4.1 million and $2.7 million as of Dec. 31, 1995, 1994 and 1993, respectively, reflecting a net interest margin of 7.37 percent, 7.56 percent and 4.9 percent respectively for those periods.

CONTACT: Atlantic Bank and Trust Company

Kimberly Simpson, 617/330-8585
COPYRIGHT 1996 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:May 7, 1996
Words:386
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