New Jersey Community Bank reports results.
Global Banking News-November 27, 2015--New Jersey Community Bank reports results
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Global Banking News - 27 November 2015
New Jersey Community Bank (OTCQB: NJCB) has reported a net loss of USD481,000, or USD0.25 per common share for the three months ended September 30, 2015, compared to earnings of USD12,000, or USD0.01 per common share in the third quarter of 2014.
For the first nine months of 2015, the bank reported a net loss of USD568,000, or USD0.30 per common share, compared with net income of USD54,000, or USD0.03 per common share for the same period in the prior year.
At September 30, 2015, total assets were USD126.3m, an increase of USD4.2m from December 31, 2014. Total cash and cash equivalents and due from banks-time deposits increased USD11.6m and USD1.2m, respectively, compared to year end 2014, primarily as a result of loan payoffs and increase in total deposits.
Total deposits increased USD4.7m compared to the levels at year end 2014. Non-interest bearing deposits accounted for 98 percent of this increase, or USD4.6m, while savings, NOW and money market deposits combined increased USD1m.
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