Revere Bank Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2017
Revere Bank reported unaudited earnings results for the second quarter and six months ended June 30, 2017. For the six months, the company reported net interest income of $34,332,000 against $19,353,000 a year ago. Net income was $8,387,000 against $3,560,000 a year ago. Pretax net income was $13,267,000 against $6,184,000 a year ago. Earnings per share - diluted were $0.82 against $0.55 a year ago. Tangible book value per share was $15.02 against $14.62 a year ago. Return on average assets (annualized) was 0.87% against 0.68% a year ago. Return on average equity (annualized) was 9.69% against 8.14% a year ago. Book value per share was $18.44 against $15.16 a year ago.
For the quarter, the company reported net interest income of $17,612,000 against $16,720,000 a year ago. Pretax net income was $7,464,000 against $5,803,000 a year ago. Net income was $4,865,000 against $3,522,000 a year ago. Earnings per share - diluted were $0.47 against $0.35 a year ago. Return on average assets (annualized) was 0.99% against 0.75% a year ago. Return on average equity (annualized) was 11.01% against 11.01% a year ago.