HOME PORT BANCORP REPORTS FIRST QUARTER PROFITS
HOME PORT BANCORP REPORTS FIRST QUARTER PROFITS NANTUCKET, Mass., April 24 /PRNewswire/ -- Home Port Bancorp, Inc.
(NASDAQ: HPBC) for the third consecutive quarter reports a profit. The profit for the quarter ended March 31, 1992 was $174,000, compared to a loss of $441,000 for the first quarter of 1991. The earnings per share for the quarter ended March 31, 1992 was 9 cents compared to a loss of 22 cents for the first quarter of 1991.
Loan loss provisions for the three months ended March 31, 1992 was $110,000 compared to $1 million for the three months ended March 31, 1991. Loan loss reserves at March 31, 1992 were 3.8 percent of total loans and 110 percent of non-performing loans. Home Port has $103.1 million in assets and $22.7 million in stockholders equity at March 31, 1992, resulting in a strong capital to asset ratio of 22 percent. -0- 4/24/92 /CONTACT: John Silva of Home Port Bancorp, Inc. 508-228-0580/ (HPBC) CO: Home Port Bancorp, Inc. ST: Massachusetts IN: FIN SU: ERN
TM -- NE003 -- 2367 04/24/92 10:46 EDT
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|Date:||Apr 24, 1992|
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