Randolph Bancorp, Inc. Announces First Quarter 2020 Financial Results
Randolph Bancorp, Inc. (RNDB)
US:NASDAQ Investor Relations:
randolphbancorp.com
Company Research
Source: GlobeNewswire
STOUGHTON, Mass., April 28, 2020 (GLOBE NEWSWIRE) -- Randolph Bancorp, Inc. (the “Company”) (NASDAQ Global Market: RNDB), the holding company for Envision Bank (the “Bank”), today announced a net loss of $818,000, or $0.16 per share, for the first quarter of 2020 compared to a net loss of $51,000, or $0.01 per share, for the first quarter of 2019. Excluding one-time charges of $1,375,000 related to the retirement of senior executives, provision expense of $357,000 related to the COVID-19 pandemic, and operating expenses of $18,000 related to addressing the COVID-19 pandemic, earnings were $932,000, or $0.18 per share, for the first quarter of 2020. At March 31, 2020, total assets amounted to $652.9 million compared to $631.0 million at December 31, 2019, an increase of $21.9 million, or 3.5%. Contributing to asset growth was a $7.1 million increase in net loans, as well as a $13.0 million increase in cash and cash equivalents held in anticipation of funding loans. William M. Paren
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