Business News • MarketWire • New Jersey Community Bank Reports Third Quarter 2013 Results |
New Jersey Community Bank Reports Third Quarter 2013 Results |
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New Jersey Community Bank Reports Third Quarter 2013 Results
FREEHOLD, NJ--(Marketwired - Oct 18, 2013) - New Jersey Community Bank (OTCQB: NJCB) (the "Bank") reported net income of $122 thousand, or $0.06 per common share for the three months ended September 30, 2013, compared to the third quarter 2012 earnings of $1 thousand. For the nine months ended September 30, 2013, the Bank reported net income of $326 thousand, or $0.17 per common share compared to net income of $221 thousand, or $0.12 per common share for the same period in the prior year. The earnings for the third quarter and nine months ended September 30, 2012 were negatively impacted by non-interest expense recorded in connection with a settlement with a former executive in the amount of $130 thousand, net of tax effect. Excluding this item, the Bank would have reported earnings of $131 thousand, or $0.07 per common share and $351 thousand, or $0.18 per common share for the third quarter and the nine months ended September 30, 2012, respectively.
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