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Brunswick Bancorp : Reports Quarter Ending December 31, 2013 Earnings
January 22, 2014 at 02:47 pm
By
Brunswick Bancorp (OTCBB:BRBW):
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
BRUNSWICK BANCORP AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
DECEMBER 31, 2013 (UNAUDITED)
ASSETS
Cash and due from banks
$
64,424,395
Federal funds sold
-
Total cash and cash equivalents
64,424,395
Securities held to maturity
6,000,000
Securities available for sale
70,214
Loans receivable, net
96,495,546
Premises and equipment, net
1,008,596
Accrued interest receivable
271,448
Other real estate
8,557,238
Other assets
1,159,886
TOTAL ASSETS
$
177,987,323
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits
Non-interest bearing
$
33,393,121
Interest bearing
108,710,869
Total deposits
142,103,990
Accrued interest payable
134,878
Other liabilities
494,451
TOTAL LIABILITIES
142,733,319
STOCKHOLDERS' EQUITY
Preferred stock-no stated value
10,000,000 shares authorized and no shares
issued and outstanding at December 31, 2013.
Common stock - no par value
10,000,000 shares authorized;
3,119,551 shares issued and outstanding at
December 31, 2013.
6,239,102
Additional paid-in capital
1,944,611
Treasury stock at cost, 185,429 shares
at December 31, 2013.
(1,312,506
)
Retained earnings
28,815,922
Deferred stock compensation
(433,125
)
TOTAL STOCKHOLDERS' EQUITY
35,254,004
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$
177,987,323
BRUNSWICK BANCORP AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME (LOSS)
QUARTER END DECEMBER 31, 2013 (UNAUDITED)
INTEREST INCOME
Interest on loans
$
5,646,601
Interest on investments
14,249
Interest on balances with banks
118,898
TOTAL INTEREST INCOME
5,779,748
INTEREST EXPENSE
Interest on deposits
458,273
Interest on borrowed funds
-
Total interest expense
458,273
NET INTEREST INCOME
5,321,475
Provision for loan losses
-
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES
5,321,475
OTHER INCOME
Service fees
817,500
Other income
1,360,960
TOTAL OTHER INCOME
2,178,460
Realized loss on securities
-
OTHER EXPENSES
Salaries and employee benefits
2,838,944
Occupancy expenses
1,292,692
Equipment expenses
148,512
Other expenses
2,421,896
TOTAL OTHER EXPENSES
6,702,044
INCOME (LOSS) BEFORE INCOME TAX EXPENSE
797,891
Income tax expense (credit)
124,500
NET INCOME
$
673,391
NET INCOME PER SHARE OF COMMON STOCK:
Basic Earnings per share
$
0.23
Average shares outstanding-basic
2,931,629
Brunswick Bancorp Roman T. Gumina, 732-247-5800 Chairman CEO
Mid Penn Bancorp, Inc. completed the acquisition of Brunswick Bancorp from Stilwell Value LLC and others.
18/05/23
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Brunswick Bancorp Reports Earnings Results for the Full Year Ended December 31, 2022
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Brunswick Bancorp Reports Earnings Results for the Fourth Quarter Ended December 31, 2022
25/01/23
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Mid Penn Bancorp, Inc. entered into an agreement and plan of merger to acquire Brunswick Bancorp for $51.9 million.
19/12/22
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Brunswick Bancorp Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
20/10/22
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Brunswick Bancorp Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
20/07/22
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Brunswick Bancorp Reports Earnings Results for the First Quarter Ended March 31, 2022
25/04/22
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Brunswick Bancorp Reports Earnings Results for the Fourth Quarter Ended December 31, 2021
24/01/22
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Brunswick Bancorp Reports Earnings Results for the Second Quarter Ended June 30, 2021
19/07/21
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Brunswick Bancorp Reports Earnings Results for the First Quarter Ended March 31, 2021
19/04/21
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Brunswick Bancorp and Brunswick Bank and Trust Announce Nicholas A. Frungillo, Jr. as President
14/01/21
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Brunswick Bancorp Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
14/01/21
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An unknown buyer acquired George Street branch of Brunswick Bancorp.
13/01/21
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Brunswick Bancorp Reports Earnings Results for the Third Quarter Ended September 30, 2020
23/10/20
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Brunswick Bancorp Reports Earnings Results for the Second Quarter Ended June 30, 2020
27/07/20
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Brunswick Bancorp Reports Earnings Results for the First Quarter Ended March 31, 2020
27/04/20
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Brunswick Bancorp Announces Appointment of James Atieh to Board of Directors
12/03/20
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Brunswick Bancorp Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
31/01/20
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Brunswick Bancorp Reports Earnings Results for the Third Quarter Ended September 30, 2019
30/10/19
CI
Brunswick Bancorp Reports Earnings Results for the Second Quarter Ended June 30, 2019
08/08/19
CI
Brunswick Bancorp Reports Earnings Results for the First Quarter Ended March 31, 2019
30/04/19
CI
Brunswick Bancorp Reports Earnings Results for the Full Year Ended December 31, 2018
30/01/19
CI
Brunswick Bancorp Announces Unaudited Consolidated Earnings Results for the Nine Months Ended September 30, 2018
31/10/18
CI
Brunswick Bancorp Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2018
31/07/18
CI
Duration Auto. 2 months 3 months 6 months 9 months 1 year 2 years 5 years 10 years Max.
Period Day Week
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Brunswick Bancorp is a bank holding company. Its principal activity is the ownership and management of its subsidiary, Brunswick Bank and Trust (the Bank). The Bank also has a subsidiary, BTB Investment Corp, Inc., which manages the Bank's investment portfolio. The Bank generates commercial, mortgage, and consumer loans, and receives deposits from customers located primarily in central New Jersey, with a primary emphasis on the Middlesex and Monmouth Counties. Its services are provided at six locations. It provides a range of commercial services, such as business checking, money markets, business savings, commercial mortgages, small business loans, commercial construction loans, merchant services and other business services. It offers a range of consumer services, such as direct deposit of payroll, electronic banking services, checking accounts, savings accounts, safe deposit box, combined statements, domestic wires, notary services and home equity lines of credit.
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