Northfield earns $15M.Northfield Northfield, city (1990 pop. 14,684), Rice co., SE Minn., near Minneapolis–St. Paul, on the Cannon River; inc. 1875. It is the trade center for a dairy and farming region. Manufactures include printed circuit boards, toys, feeds and seeds, and cereals. On Sept. 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. , Staten Island's only mutually-owned savings bank, announced that the bank's net earnings for 2003 were $15.2 million, an increase of more than 9% year-over-year. Earnings for the fourth quarter of 2003 were $4.7 million, an increase of more than 21% over 2002. Northfield, which operates branches under the Northfield and Liberty Bank names, also announced that its capital base had increased over 8% to $139.13 million, and that its total assets at year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. were $1.47 billion, an increase of more than 12% compared to last year. Northfield's tangible Possessing a physical form that can be touched or felt. Tangible refers to that which can be seen, weighed, measured, or apprehended by the senses. A tangible object is something that is real and substantial. An automobile is an example of tangible Personal Property. equity for 2003 grew by 13.88% and its return on average tangible equity was 13.77% for 2003. Northfield's deposits grew by year-end to $1.021 billion. A significant portion of these increases resulted from Northfield's acquisition of Liberty Bank on December December: see month. 31, 2002. John W. Alexander, Chairman of the Board and Chief Executive Officer, commented: "I am pleased these results continue the positive earnings and growth trends established over the past several years and demonstrate the strength of Northfield Savings Bank." |
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