Meridian Bancorp, Inc. Reports Fourth Quarter and Record Full Year Net Income; Rise in Total Assets to Over $6 Billion on Record Loan and Deposit Growth
Meridian Bancorp, Inc. (EBSB)
Last meridian bancorp, inc. earnings: 1/28 04:05 pm
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US:NASDAQ Investor Relations:
ebsb.com/investor-relations
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Source: GlobeNewswire
BOSTON, Jan. 22, 2019 (GLOBE NEWSWIRE) -- Meridian Bancorp, Inc. (the “Company” or “Meridian”) (NASDAQ: EBSB), the holding company for East Boston Savings Bank (the “Bank”), announced net income of $12.4 million, or $0.24 per diluted share, for the quarter ended December 31, 2018, compared to $17.4 million, or $0.33 per diluted share, for the quarter ended September 30, 2018 and $9.0 million, or $0.17 per diluted share, for the quarter ended December 31, 2017. For the year ended December 31, 2018, net income was $55.8 million, or $1.06 per diluted share, up from $42.9 million, or $0.82 per diluted share, for the year ended December 31, 2017. Net income for the quarter and year ended December 31, 2018 reflects a reduction in the statutory federal income tax rate to 21% from 35% effective January 1, 2018 related to enactment of the Tax Cuts and Jobs Act (the “Tax Act”) in December 2017. Net income for the quarter and year ended December 31, 2017 reflected a charge of $7.1 million, or
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