logo
Share SHARE
FONT-SIZE Plus   Neg

Beacon Federal Bancorp Q4 Profit Falls

Beacon Federal Bancorp, Inc. (BFED), the holding company for Beacon Federal, reported fourth-quarter net income of $0.8 million or $0.13 per share, down from last year's $1.4 million or $0.23 per share.

Net interest income for the quarter declined to $7.3 million from $7.9 million last year. Net interest margin decreased 24 basis points from last year due to a decrease in the average yield of interest-earning assets.

Non-interest income for the quarter increased to $5.1 million from $1.3 million last year, mainly due to a gain from the sale of the Texas branch operations.

Provision for loan loss for the quarter was higher at $6 million, compared to $2 million a year ago.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Nintendo hasn't shown off its upcoming Next Generation console at E3, the major gameshow, on fears of others copying it, reports said quoting video game developer Shigeru Miyamoto. At an investors meeting in Japan, the gaming console maker however revealed that it continues to look into the possibility of developing a virtual reality headset, but affordable and comfortable one. Kellogg's is entering into restaurant business with the opening of a new cafe in New York City, exclusively for cereals that may cost around $8 per bowl, reports said. The cafe, to be known as Kellogg's NYC, will be launched officially on July 4 in the heart of Times Square. Small businesses, who want to use Twitter to connect with their customers, have a new helper. The online social networking service provider has launched a standalone application: Twitter Dashboard. The company said in blog post that the new service is launching into beta in the U.S. and is available online at dashboard.twitter.com or via the Dashboard app in the App Store.
comments powered by Disqus
Follow RTT