Westbury Bancorp, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended September 30, 2018
October 30, 2018 at 05:30 pm EDT
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Westbury Bancorp, Inc. reported consolidated earnings results for the fourth quarter and year ended September 30, 2018. For the quarter, interest and dividend income was $7,640,000 against $6,787,000 a year ago. Net interest income was $6,221,000 against $5,796,000 a year ago. Income before income tax expense was $2,006,000 against $844,000 a year ago. Net income was $1,396,000 against $536,000 a year ago. Diluted earnings per share were $0.39 against $0.14 per diluted share a year ago. Return on average assets was 0.69% against 0.27% a year ago. Return on average equity was 7.24% against 2.79% a year ago. Tangible book value per share increased by $0.53, or 2.6%, to $21.14 at September 30, 2018 from $20.61 at September 30, 2017. Book value per share - including unallocated ESOP shares as at September 30, 2018 was $21.14 against $20.61 a year ago.
For the year, interest and dividend income was $29,041,000 against $25,246,000 a year ago. Net interest income was $24,149,000 against $21,837,000 a year ago. Income before income tax expense was $7,321,000 against $4,511,000 a year ago. Net income was $4,205,000 against $2,847,000 a year ago. Diluted earnings per share were $1.18 against $0.76 per diluted share a year ago. Return on average assets was 0.52% against 0.38% a year ago. Return on average equity was 5.29% against 3.75% a year ago.
Westbury Bancorp, Inc. is the holding company for Westbury Bank (the Bank). The Bank is an independent community bank serving communities in Washington and Waukesha Counties through its eight banking offices providing deposit and loan services to individuals, professionals, and businesses throughout its markets. The Bank provides checking, savings, certificates of deposit, consumer loans, credit cards, individual retirement accounts, and others. The Bankâs services include online banking, mobile banking, bill pay, Pop Money, order checks, and e-statements, among others. The Bankâs business services include business checking and treasury management. The Bankâs commercial loans category includes commercial real estate, lines of credit, equipment, construction, working capital, acquisitions, letters of credit, and SBAs. The Bank offers an array of home loan options, including purchase, refinance, construction, Federal VA, WHEDA, and home equity loans and lines of credit.