Sussex Bancorp Reports Strong Growth of Approximately 40% in Operating Results for the Fourth Quarter and Full Year 2017
SUSSEX BANCORP (SBBX)
Last sussex bancorp earnings: 4/29 04:30 pm
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US:NASDAQ Investor Relations:
sussexbank.com/about/corporate-profile
Company Research
Source: GlobeNewswire
ROCKAWAY, N.J., Jan. 30, 2018 (GLOBE NEWSWIRE) -- Sussex Bancorp (the “Company”) (Nasdaq:SBBX), the holding company for Sussex Bank (the “Bank”), today reported net income of $513 thousand, or $0.09 per basic and diluted share, for the quarter ended December 31, 2017, as compared to $1.5 million, or $0.33 per basic share and $0.32 per diluted share, for the same period last year. For the year ended December 31, 2017, the Company reported net income of $5.7 million, or $1.05 per diluted share as compared to net income of $5.5 million, or $1.19 per diluted share, for the same period last year. The decrease in net income for both reported periods was mainly attributable to the Company’s adjustment to deferred tax assets resulting from the recognition of the newly enacted Tax Cuts and Jobs Act (“Tax Act”) and merger-related costs associated with the merger of Community Bank of Bergen County (“Community Bank”), NJ with and into the Bank. Earnings per share for both periods were also
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