Business & Finance
Business and Finance
Business and Finance
Thu, July 15, 2010
[ 05:00 AM ] - Market Wire
[ 05:00 AM ] - Market Wire
[ 04:55 AM ] - Market Wire
[ 04:33 AM ] - Market Wire
[ 04:32 AM ] - Market Wire
[ 04:15 AM ] - Market Wire
[ 04:00 AM ] - Market Wire
[ 04:00 AM ] - Market Wire
[ 01:18 AM ] - Market Wire
[ 01:04 AM ] - Market Wire
[ 01:04 AM ] - Market Wire
Wed, July 14, 2010
[ 09:01 PM ] - Market Wire
[ 03:52 PM ] - Market Wire
[ 03:39 PM ] - Market Wire
[ 03:17 PM ] - Market Wire
[ 02:31 PM ] - Market Wire
[ 02:30 PM ] - Market Wire
[ 02:28 PM ] - Market Wire
[ 02:05 PM ] - Market Wire
[ 02:00 PM ] - Market Wire
[ 01:57 PM ] - Market Wire
[ 01:40 PM ] - Market Wire
[ 01:30 PM ] - Market Wire
Brunswick Bancorp Reports Second Quarter 2010 Earnings
NEW BRUNSWICK, N.J.--([ BUSINESS WIRE ])--Brunswick Bancorp (OTCBB:BRBW):
| BRUNSWICK BANCORP AND SUBSIDIARIES | ||||
| CONSOLIDATED BALANCE SHEET | ||||
| JUNE 30, 2010 (UNAUDITED) | ||||
| ASSETS | ||||
| Cash and due from banks | $ | 61,565,002 | ||
| Federal funds sold | - | |||
| Total cash and cash equivalents | 61,565,002 | |||
| Securities held to maturity | 2,500,000 | |||
| Securities available for sale | 94,507 | |||
| Loans receivable, net | 99,020,973 | |||
| Premises and equipment, net | 1,349,526 | |||
| Accrued interest receivable | 328,967 | |||
| Other real estate | 1,987,887 | |||
| Other assets | 1,465,792 | |||
| TOTAL ASSETS | $ | 168,312,654 | ||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
| Deposits | ||||
| Non-interest bearing | $ | 29,775,815 | ||
| Interest bearing | 98,612,039 | |||
Total deposits | 128,387,854 | |||
| Accrued interest payable | 630,655 | |||
| Other liabilities | 124,180 | |||
| TOTAL LIABILITIES | 129,142,689 | |||
| STOCKHOLDERS' EQUITY | ||||
| Preferred stock-no stated value | ||||
| 10,000,000 shares authorized and no shares | ||||
| issued and outstanding at June 30, 2010. | ||||
| Common stock - no par value | ||||
| 10,000,000 shares authorized; | ||||
| 3,119,551 shares issued and outstanding at | ||||
| June 30, 2010. | 6,239,102 | |||
| Additional paid-in capital | 1,850,464 | |||
| Treasury stock at cost, 197,117 shares | ||||
| at June 30, 2010. | (1,373,296 | ) | ||
| Retained earnings | 33,204,562 | |||
| Equity Investment-Unrealized loss | (49,092 | ) | ||
| Deferred stock compensation | (701,775 | ) | ||
| TOTAL STOCKHOLDERS' EQUITY | 39,169,965 | |||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 168,312,654 | ||
| BRUNSWICK BANCORP AND SUBSIDIARIES | |||
| CONSOLIDATED STATEMENTS OF INCOME | |||
| SIX MONTHS ENDED JUNE 30, 2010 (UNAUDITED) | |||
| INTEREST INCOME | |||
| Interest on loans | $ | 2,961,543 | |
| Interest on investments | 43,170 | ||
| Interest on balances with banks | 69,623 | ||
| TOTAL INTEREST INCOME | 3,074,336 | ||
| INTEREST EXPENSE | |||
| Interest on deposits | 697,808 | ||
| Interest on borrowed funds | - | ||
| Total interest expense | 697,808 | ||
| NET INTEREST INCOME | 2,376,528 | ||
| Provision for loan losses | 130,000 | ||
| NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 2,246,528 | ||
| OTHER INCOME | |||
| Service fees | 338,509 | ||
| Other income | 35,201 | ||
| TOTAL OTHER INCOME | 373,710 | ||
| OTHER EXPENSES | |||
| Salaries and employee benefits | 1,249,534 | ||
| Occupancy expenses | 561,361 | ||
| Equipment expenses | 98,703 | ||
| Other expenses | 677,148 | ||
| TOTAL OTHER EXPENSES | 2,586,746 | ||
| INCOME BEFORE INCOME TAX EXPENSE | 33,492 | ||
| Income tax expense (Recovery) | (11,499 | ) | |
| NET INCOME | $ | 44,991 | |
| NET INCOME PER SHARE OF COMMON STOCK: | |||
| Basic Earnings per share | $ | 0.02 | |
| Average shares outstanding-basic | 2,848,184 | ||
Contributing Sources
