Meridian Bancorp, Inc. Reports Record Third Quarter Net Income and its Intention to Increase the Quarterly Dividend 40%
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, Oct. 23, 2018 (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 $17.4 million, or $0.33 per diluted share, for the quarter ended September 30, 2018, up from $14.1 million, or $0.27 per diluted share, for the quarter ended June 30, 2018 and $13.3 million, or $0.25 per diluted share, for the quarter ended September 30, 2017. For the nine months ended September 30, 2018, net income was $43.4 million, or $0.82 per diluted share, up from $33.9 million, or $0.65 per diluted share, for the nine months ended September 30, 2017. Net income for the quarter and nine months ended September 30, 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. The Company’s return on average assets was 1.22% for the quarter ended September
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