Randolph Bancorp, Inc. Announces First Quarter 2018 Financial Results
Randolph Bancorp, Inc. (RNDB)
US:NASDAQ Investor Relations:
randolphbancorp.com
Company Research
Source: GlobeNewswire
STOUGHTON, Mass., April 24, 2018 (GLOBE NEWSWIRE) -- Randolph Bancorp, Inc. (the “Company”) (NASDAQ:RNDB), the holding company for Envision Bank (the “Bank”), today announced a net loss of $707,000, or $0.12 per share, for the first quarter of 2018 compared to a net loss of $447,000, or $0.08 per share, for the first quarter of 2017. Included in the net loss for the 2017 period were merger and integration costs of $167,000 associated with the Company’s 2016 acquisition of First Eastern Bankshares Corporation. Excluding this non-recurring item, the net loss for the first quarter of 2017 would have been $280,000. James P. McDonough, President and Chief Executive Officer, stated, “We continue to take actions necessary to improve the operating results of our mortgage banking business. We are especially focused on efficiencies in the loan origination process, from application through closing, to ensure our customers a great experience. In addition, we are dedicated to growing our team o
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