1ST Constitution Bancorp Reports First Quarter 2018 Results and Declares Quarterly Dividend of $0.06 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., April 20, 2018 (GLOBE NEWSWIRE) -- 1ST Constitution Bancorp (NASDAQ:FCCY), the holding company (the “Company”) for 1ST Constitution Bank (the “Bank”), today reported net income of $2.9 million and diluted earnings per share of $0.34 for the first quarter of 2018 compared to $1.9 million and diluted earnings per share of $0.23 for the first quarter of 2017. The Board of Directors declared a quarterly cash dividend of $0.06 per share that will be paid on May 23, 2018 to shareholders of record on May 11, 2018. FIRST QUARTER 2018 HIGHLIGHTS Return on average assets was 1.09% and return on average equity was 10.09%.Book value per share and tangible book value per share were $13.96 and $12.43, respectively, at March 31, 2018.Net interest income was $9.7 million and the net interest margin was 3.95% on a tax equivalent basis.The Bank recorded a provision for loan losses of $225,000 and net recoveries were $59,000.Non-interest expense was $7.6 million and included $164,00
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