1ST Constitution Bancorp Reports Net Income of $3.3 Million For the Fourth Quarter and $12.0 Million For the Full Year 2018 and Declares Quarterly Dividend of $0.075 Per Share
1st Constitution Bancorp (NJ) (FCCY)
Last 1st constitution bancorp (nj) earnings: 5/1 09:15 am
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US:NASDAQ Investor Relations:
1stconstitution.com/investor-relations
Company Research
Source: GlobeNewswire
CRANBURY, N.J., Jan. 31, 2019 (GLOBE NEWSWIRE) -- 1ST Constitution Bancorp (NASDAQ: FCCY), the holding company (the “Company”) for 1ST Constitution Bank (the “Bank”), today reported net income of $3.3 million for the three months ended December 31, 2018 compared to net income of $574,000 for the three months ended December 31, 2017. Diluted earnings per share were $0.38 for the three months ended December 31, 2018 compared to diluted earnings per share of $0.07 for the three months ended December 31, 2017. Adjusted Net Income, which is net income excluding the after-tax effect of merger-related expenses, gain on bargain purchase and revaluation of deferred tax assets, increased 32.1% to $3.3 million for the fourth quarter of 2018 compared to Adjusted Net Income of $2.5 million for the fourth quarter of 2017. For the fourth quarter of 2018, the Company recorded a $46,000 gain on bargain purchase due to adjustments to deferred tax assets related to acquisition accounting. For the f
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