Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Beacon Federal Bancorp Q4 Profit Falls

Beacon Federal Bancorp, Inc. (BFED: Quote), 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.

Click here to receive FREE breaking news email alerts for BEACON FEDERAL BANCO and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Incumbent Colorado Sen. Mark Udall, D-Col., trails his Republican challenger in the latest Quinnipiac University poll, with more than a third of likely voters describing their U.S. Senate vote as a vote against President Barack Obama. A bipartisan coalition in the House voted Wednesday evening to approve a measure providing the U.S. military with the authority to train and arm moderate Syrian rebels against the terrorist group known as the Islamic State. The House voted 273 to 156 in favor of the measure, which was attached to a larger spending bill to temporarily fund the government. After moving mostly higher early in the session, stocks have continued to perform well over the course of the trading day on Thursday. The gains on the day have lifted both the Dow and the S&P 500 to new record intraday highs.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.