New Jersey Community Bank (NJCB.OB), Thursday, reported a decline in profit for the first quarter on reduced net interest margin.
The Freehold, New Jersey-based company reported a first-quarter net profit of $108 thousands or $0.06 per share, compared to $142 thousands or $0.08 per share last year.
Net interest income for the quarter grew to $1.11 million from $1.0 million in the prior-year quarter. Meanwhile provision for loan losses decreased to $45 thousands from $95 thousands last year.
For the quarter, total non-interest income rose to $102 thousands from $95 thousands in the prior-year quarter.
by RTT Staff Writer
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