Randolph Bancorp, Inc. Announces First Quarter 2017 Financial Results
Randolph Bancorp, Inc. (RNDB)
US:NASDAQ Investor Relations:
randolphbancorp.com
Company Research
Source: GlobeNewswire
STOUGHTON, Mass., April 25, 2017 (GLOBE NEWSWIRE) -- Randolph Bancorp, Inc. (the “Company”) (NASDAQ:RNDB), the holding company for Randolph Savings Bank (the “Bank”), today announced a net loss of $447,000, or $0.08 per share, for the first quarter of 2017 compared to net income of $2,000 for the first quarter of 2016. Operating results for both periods were affected by merger and integration costs related to the acquisition of First Eastern Bankshares Corporation (“First Eastern”), which amounted to $167,000 and $117,000 for the three months ended March 31, 2017 and 2016, respectively. Excluding this non-recurring item, the net loss for the first quarter of 2017 would have been $280,000 compared to net income of $119,000 for the first quarter of 2016. James P. McDonough, President and Chief Executive Officer, stated, “We are pleased with the growth in portfolio loans and core deposits experienced during the first quarter and we will continue to focus on additional opportunities to
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