1st Constitution Bancorp Reports Results for the First Quarter of 2020 and Declares Quarterly Dividend of $0.09 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
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Source: GlobeNewswire
CRANBURY, N.J., May 01, 2020 (GLOBE NEWSWIRE) -- 1ST Constitution Bancorp (NASDAQ: FCCY), the holding company (the “Company”) for 1ST Constitution Bank (the “Bank”), today reported net income of $3.4 million and diluted earnings per share of $0.33 for the first quarter of 2020 compared to net income of $3.4 million and diluted earnings per share of $0.39 for the first quarter of 2019. The reported results for the first quarter of 2020 include an additional provision for loan losses of approximately $388,000, or $282,000 after tax, which reflects management’s current estimate of additional loan losses that may be incurred due to the weakening national and local economic conditions caused by the COVID-19 pandemic. The Board of Directors declared a quarterly cash dividend of $0.09 per share that will be paid on May 22, 2020 to shareholders of record on May 12, 2020. FIRST QUARTER 2020 HIGHLIGHTS Return on average total assets and return on average shareholders' equity were 0.8
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