Revere Bank Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Reports Charge-Offs for the Third Quarter of 2015
For the quarter, the company reported net interest income of $7,309,000 against $5,704,000 a year ago. Pretax net income was $2,661,000 against $1,897,000 a year ago. Net income was $1,616,000 against $1,176,000 a year ago. Earnings per share - diluted were $0.29 against $0.27 a year ago. Return on average assets (annualized) was 0.84% against 0.81% a year ago. Return on average equity (annualized) was 8.98% against 9.48% a year ago.
The company reported charge-offs during the third quarter of 2015 were $204,000 (0.03% of period-end loans).