PR Newswire
WEST BEND, Wis., May 9, 2014
WEST BEND, Wis., May 9, 2014 /PRNewswire/ -- Westbury Bancorp, Inc. (NASDAQ: WBB), the holding company (the "Company") for Westbury Bank (the "Bank"), today announced a loss of $1.8 million for the second quarter ended March 31, 2014, compared to net income of $68,000 for the first quarter ended December 31, 2013. The loss for the quarter was primarily the result of a restructuring charge of $2.5 million, discussed in more detail below.
Ray Lipman, Chairman, President and CEO made the following comments related to the results for the period ended March 31, 2014.
About Westbury Bancorp, Inc.
Westbury Bancorp, Inc. became the holding company for Westbury Bank as a result of the completion on April 9, 2013 of the Bank's conversion from mutual to stock form and the related stock offering. In the offering the Company sold 5,090,000 shares of common stock at a price of $10.00 per share for gross offering proceeds of $50,900,000. The Company's common shares began trading on the NASDAQ Global Market on April 10, 2013 under the symbol "WBB".
Westbury Bank is an independent community bank with over $540 million in assets. It is the largest bank, and only publicly traded bank, headquartered in Washington County. Westbury Bank serves communities in Washington and Waukesha Counties through its 10 full service offices providing deposit and loan services to individuals, professionals and businesses throughout its markets.
Forward-Looking Information
Information contained in this press release, other than historical information, may be considered forward-looking in nature as defined by the Private Securities Litigation Reform Act of 1995 and is subject to various risk, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the Company's operating results, performance or financial condition are competition and the demand for the Company's products and services, and other factors as set forth in filings with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations. Certain tabular presentations may not reconcile because of rounding.
WEBSITE: www.westburybankwi.com
| At or For the Three Months Ended: | ||||||||||||||
| March 31, 2014 | December 31, 2013 | September 30, 2013 | June 30, 2013 | March 31, 2013 | ||||||||||
Selected Financial Condition Data: | | | | | | | | | | | |||||
Total assets | $ | 547,494 | | $ | 535,588 | | $ | 543,282 | | $ | 550,519 | | $ | 584,241 | |
Loans receivable, net | 356,880 | | 346,411 | | 342,780 | | 338,515 | | 354,101 | | |||||
Allowance for loan losses | 3,898 | | 3,743 | | 4,266 | | 4,563 | | 5,380 | | |||||
Securities available for sale | 96,407 | | 108,915 | | 105,705 | | 97,120 | | 66,986 | | |||||
Total liabilities | 457,894 | | 444,886 | | 452,680 | | 460,029 | | 536,655 | | |||||
Deposits | 451,378 | | 438,625 | | 440,978 | | 448,171 | | 457,140 | | |||||
Stockholders' equity | 89,600 | | 90,702 | | 90,602 | | 90,490 | | 47,586 | | |||||
| | | | | | | | | | | |||||
Asset Quality Ratios: | | | | | | | | | | | |||||
Non-performing assets to total assets | 1.01 | % | 1.15 | % | 1.92 | % | 1.72 | % | 2.19 | % | |||||
Non-performing loans to total loans | 1.23 | % | 1.41 | % | 2.52 | % | 2.26 | % | 3.00 | % | |||||
Total classified assets to total assets | 1.96 | % | 2.04 | % | 2.13 | % | 2.75 | % | 3.69 | % | |||||
Allowance for loan losses to non-performing loans | 87.91 Werbung Mehr Nachrichten zur Westbury Bancorp, Inc. Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News |