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. . These include Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance News/Retrieval, Bloomberg Financial Markets, Reuter Company Newsyear, Reuter Business Briefing, DataTimes, Nexis, Dialog, NewsNet, America OnLine See AOL. , CompuServe, Delphi, Individual's HeadsUp and First!, Desktop Data's NewsEdge, UMI UMI University Microfilms International UMI United States Minor Outlying Islands (ISO Country code) UMI University of Miami UMI Universal Management Infrastructure (IBM) Data Courier, NewsBank, Information Access Company, Prodigy, Comtex, and many others. -0- 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:
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 |
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