Brunswick Bancorp (OTCBB:BRBW) Reports Its 1Q14 Results

Brunswick Bancorp (OTCBB:BRBW) which  is a New Brunswick head quartered regional bank has reported on 19th April the results from its quarter operations which ended on 31st March.

Financial Highlights For The Quarter

The bank reported total assets of $178.62 million at the end of the quarter, while its total liabilities added up to $143.2 million. It reported net interest income of $1.58 million. This figure further pares down to $144571 for the quarter, after accounting for tax and other expenses. This translates to earnings per share of 5 cents for the quarter. In terms of loans receivables, Brunswick Bancorp (OTCBB:BRBW) has on its loan book close to $93.8 million outstanding receivables and in contrast has $67.46 million in cash and cash equivalents.

1Q14 In Contrast To Previous Results

In contrast when Brunswick Bancorp (OTCBB:BRBW) had last reported results for its third quarter operations ending 30th September, its asset base had stood at $156.3 million where as its liabilities had levelled out at $121.2 million. Its total income for the quarter had come in at $1.84 million, while its net income had come in at $0.45 million. This translated into earnings per share of $0.16 for the third quarter.

Full Fledged Operations

Brunswick Bancorp (OTCBB:BRBW) acts as the holding company for the Brunswick Bank and Trust Company and has been in operation since 1970. It has its banking operations spread across six branches across New Jersey. It has also expanded its business interests into the reality sector and has incorporated Brunscor Realty as its fully owned subsidiary. It reports rental income from these properties as other income in its quarterly report. The share price of Brunswick Bancorp (OTCBB:BRBW) had been trading in the $5 per share range when it was last traded on 11th April.

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