Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Provident New York Bancorp Q1 Profit Rises

Provident New York Bancorp (PBNY: Quote), the bank holding company for Provident Bank, Monday, reported an increase in profit for the first quarter, mainly on higher net interest income and higher net interest income.

The Montebello, New York-based company reported a first-quarter net profit of $5.70 million or $0.15 per share, compared to $3.57 million or $0.10 per share last year. On average, four analysts polled by Thomson Reuters expected earnings of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the quarter grew to $23.91 million from $22.51 million in the year-ago quarter. Total non-interest income rose to $7.97 million from $5.80 million in the prior-year quarter.

Three analysts had a consensus revenue estimate of $24.02 million for the quarter.

Loan loss provision for the quarter increased to $ 2.85 million from $2.10 million last year.

Click here to receive FREE breaking news email alerts for Provident New York Bancorp and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After moving sharply higher at the open, stocks have seen further upside over the course of the trading day on Thursday. The strong upward move on the day has more than offset the pullback that was seen in the previous session. Suggesting moderate growth in the short-term, the Conference Board released a report on Thursday showing that its index of leading U.S. economic indicators rose by more than economists had anticipated in the month of September. Eurozone's consumer confidence improved unexpectedly in October after weakening in the previous four months, preliminary data from the European Commission showed Thursday. The flash consumer confidence indicator rose to -11.1 from a seven-month low of -11.4 in September. Economists had forecast a...
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.