Business News • MarketWire • Merchants Bancshares, Inc. Announces Strong Third Quarter 2011 Results |
Merchants Bancshares, Inc. Announces Strong Third Quarter 2011 Results |
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Merchants Bancshares, Inc. Announces Strong Third Quarter 2011 Results
SOUTH BURLINGTON, VT--(Marketwire - Oct 25, 2011) - Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of $4.18 million and $10.91 million, or diluted earnings per share of $0.67 and $1.76 for the quarter and nine months ended September 30, 2011, respectively. This compares to 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. The return on average assets was 1.11% and 0.98% for the quarter and nine months ended September 30, 2011, compared to 1.25% and 1.21% for the same periods in 2010. The return on average equity was 15.84% and 14.23% for the quarter and nine months ended September 30, 2011, compared to 18.46% and 18.22% for the same periods in 2010. Merchants previously announced the declaration of a dividend of $0.28 per share, payable November 17, 2011, to shareholders of record as of November 3, 2011.
View More : http://www.marketwire.com/mw/release.do?id=1577699&sourceType=3
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