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Robert F. Mangano
Stephen J. Gilhooly
President & Chief Executive Officer
Sr. Vice President & Chief Financial Officer
Book value per share and tangible book value per share were $13.28 and $11.69, respectively, at March 31, 2017.
Net interest income was $8.6 million and the net interest margin was 3.83% on a tax equivalent basis.
Non-interest income increased $807,000 to $2.4 million driven primarily by an increase in the volume of residential mortgages sold.
The Bank recorded a provision for loan losses of $150,000 and net charge-offs were $94,000.
Commercial business, commercial real estate and construction loans totaled $467 million at March 31, 2017 and increased $64 million compared to the total at March 31, 2016 and increased $29 million compared to the total at December 31, 2016.
Non-performing assets were $7.9 million, or 0.78% of assets, and included $431,000 of OREO at March 31, 2017.
On March 17, 2017, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.05 per common share that will be paid on April 25, 2017 to shareholders of record as of April 3, 2017.
The following information was filed by 1St Constitution Bancorp (FCCY) on Monday, April 24, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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