Business News • MarketWire • Merchants Bancshares, Inc. Announces Strong 3rd Quarter Results |
Merchants Bancshares, Inc. Announces Strong 3rd Quarter Results |
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Merchants Bancshares, Inc. Announces Strong 3rd Quarter Results
SOUTH BURLINGTON, VT--(Marketwire - October 25, 2010) - Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of
$4.50 million and $12.92 million, or diluted earnings per share of $0.73
and $2.10 for the quarter and nine months ended September 30, 2010,
respectively. This compares with net income of $3.71 million and $8.68
million or diluted earnings per share of $0.61 and $1.42 for the same
periods in 2009. Merchants previously announced the declaration of a
dividend of $0.28 per share, payable November 18, 2010, to shareholders of
record as of November 4, 2010. The return on average assets was 1.25% and
1.21% for the quarter and nine months ended September 30, 2010,
respectively, compared to 1.07% and 0.85% for the same periods in 2009. The
return on average equity was 18.39% and 18.14% for the quarter and nine
months ended September 30, 2010, respectively, comp
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