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
Dealing a potentially fatal blow to a last-ditch effort by Republicans to repeal and replace Obamacare, Senator John McCain, R-Ariz., on Friday announced his opposition to a healthcare bill drafted by Senators Lindsey Graham, R-S.C., and Bill Cassidy, R-La. Reiterating his claim that Russian meddling in last year's election is a hoax, President Donald Trump has argued that the biggest influence on the election came from the media. Trump seemed to suggest in a post on Twitter on Friday that his victory in the presidential election came despite the media's... U.S. airlines collected a record $7.1 billion in revenue from fees for checked baggage and for changing or canceling reservations, reflecting a marked increase from 2010, according to a government report. The U.S. Government Accountability Office or GOA said in a report that U.S. airlines' revenue from these two fees increased to $7.1 billion in 2016 from $6.3 billion in 2010, in constant dollars.
comments powered by Disqus
Follow RTT