Fraternity Community Bancorp Inc (FRTR) 15.0200 $FRTR
Fraternity Community Bancorp, Inc. Reports Results for the Three Months Ended March 31, 2014
Business Wire - Fri May 16, 4:00PM CDT
Fraternity Community Bancorp, Inc. (OTCBB:FRTR), the holding company for Fraternity Federal Savings and Loan Association, today announced that it realized a net loss of $47,700 for the quarter ended March 31, 2014, as compared to net income of $65,200 for the same quarter in 2013. The decrease in net income is primarily attributable to an increase in noninterest expense of $158,800 and a decrease in noninterest income of $85,800, which were only partially off-set by an increase in net interest income of $50,100, a decrease in our provision for loan losses of $23,900 and a reduction in income tax expense of $57,500. Net interest income increased for the three months ended March 31, 2014 by $50,100, or 4.7%, from $1,076,900 for the three months ended March 31, 2013 to $1,127,000 for the three months ended March 31, 2014. Our provision for loan losses decreased from a provision of $20,900 for the three months ended March 31, 2013 to a negative provision of $3,000 for the three months ended March 31, 2014. Non-interest income decreased $85,800, or 68.8%, for the three months ended March 31, 2014, from $124,700 for the three months ended March 31, 2013 to $38,900 for the three months ended March 31, 2014. The decrease was primarily due to a decrease of $43,300, or 100%, in the gain on sale of investments and a decrease of $35,800, or 100%, in the gain on sale of loans. Noninterest expenses increased by $158,800, or 14.4%, from $1,104,700 for the three months ended March 31, 2013 to $1,263,500 for the three months ended March 31, 2014. The increase primarily was attributable to an increase in salaries and employee benefits of $60,000, or 10.5%, an increase in directors fees of $11,700, or 47.3%, and an increase in other general and administrative expenses of $72,100, or 45.7%. The increase in other general and administrative expenses was primarily due to a $100,000 write-down of the luxury residential property included in REO, based on a contract of sale received on the property. Settlement occurred on this property on April 30, 2014 and no further loss was recognized. There was also a decrease of $37,600, or 76.7%, in advertising expense.
Fraternity Community Bancorp reports net loss for FY 2013 over net income for FY 2012
M2 - Mon Mar 17, 5:11AM CDT
Fraternity Community Bancorp Inc (OTCBB:FRTR), the holding company for Fraternity Federal Savings and Loan Association, reported on Friday that for the year ended 31 December 2013, a net loss of USD110,600 compared to net income of USD115,200 for the year ended 2012.
Fraternity Community Bancorp, Inc. Reports Results for the Quarter and Year Ended December 31, 2013
Business Wire - Fri Mar 14, 4:00PM CDT
Fraternity Community Bancorp, Inc. (OTCBB:FRTR), the holding company for Fraternity Federal Savings and Loan Association, today announced that it realized a net loss of $110,600 for the year ended December 31, 2013, compared to net income of $115,200 for the year ended December 31, 2012. The decrease in net income between the periods was due in part to a decrease in noninterest income of $123,800 during the year ended December 31, 2013, from $414,000 for the year ended December 31, 2012 to $290,200 for the year ended December 31, 2013. Also contributing was an increase in noninterest expense of $393,500, from $4.2 million for the year ended December 31, 2012 to $4.6 million for the year ended December 31, 2013. The increase primarily was attributable to an increase of $132,000, or 5.9%, in salaries and employee benefits, an increase of $58,600, or 61.2% in director's fees, and an increase of $173,500, or 35.4% in other general and administrative expenses, which consisted primarily of an increase of $167,200, or 357.2% in advertising expense. We had a provision for loan losses of $223,000 for the year ended December 31, 2013 compared to $402,200 for the year ended December 31, 2012.
Fraternity Community Bancorp names Michelle Miller as chief financial officer
M2 - Fri Aug 16, 6:52AM CDT
Thomas K Sterner, chairman and chief executive officer of Fraternity Community Bancorp Inc (OTCBB:FRTR), a bank holding company, on Thursday declared that Michelle Miller has been promoted as chief financial officer.
Fraternity Community Bancorp, Inc. Announces Appointment of Michelle Miller, CPA as Chief Financial Officer
Business Wire - Thu Aug 15, 4:00PM CDT
Fraternity Community Bancorp, Inc. (OTCBB:FRTR), Thomas K. Sterner, Chairman and Chief Executive Officer, announced the promotion of Michelle Miller, CPA to Chief Financial Officer. Mrs. Miller has been with the Company for ten years and five months, and previously held the title of Controller. Mrs. Miller received her CPA designation in 2001. Prior to joining the Company she worked at Stegman and Company, a CPA firm located in Towson, Maryland. She is a member of the Financial Managers Society, American Bankers Association and Maryland Bankers Association.
Fraternity Community Bancorp, Inc. Reports Results for the Quarter Ended June 30, 2013
Business Wire - Fri Aug 09, 4:00PM CDT
Fraternity Community Bancorp, Inc. (OTCBB:FRTR), the holding company for Fraternity Federal Savings and Loan Association, today announced that it realized net income of $102,700 for the quarter ended June 30, 2013, as compared to net income of $102,400 for the same quarter in 2012. This represented earnings per common share of $0.08 for the three months ended June 30, 2013 as compared to $0.07 per common share for the same period ended June 30, 2012.
Fraternity Community Bancorp, Inc. Reports Results for the Quarter Ended March 31, 2013
Business Wire - Wed May 08, 4:00PM CDT
Fraternity Community Bancorp, Inc. (OTCBB:FRTR), the holding company for Fraternity Federal Savings and Loan Association, today announced that it realized net income of $65,200 for the quarter ended March 31, 2013, as compared to net income of $52,200 for the same quarter in 2012. This reflected earnings per common share of $.05 for the three months ended March 31, 2013 as compared to $.04 per common share for the same period ended March 31, 2012.
Fraternity Community Bancorp reports increased net income for 2012
M2 - Mon Mar 04, 9:43AM CST
Fraternity Community Bancorp Inc (OTCBB:FRTR), the holding company for Fraternity Federal Savings and Loan Association, reported on Friday that it recorded net income of USD115,200 for the year ended 31 December 2012.
Fraternity Community Bancorp, Inc. Reports Results for the Three Months Ended March 31, 2014
Business Wire - Fri May 16, 4:00PM CDT
Fraternity Community Bancorp, Inc. (OTCBB:FRTR), the holding company for Fraternity Federal Savings and Loan Association, today announced that it realized a net loss of $47,700 for the quarter ended March 31, 2014, as compared to net income of $65,200 for the same quarter in 2013. The decrease in net income is primarily attributable to an increase in noninterest expense of $158,800 and a decrease in noninterest income of $85,800, which were only partially off-set by an increase in net interest income of $50,100, a decrease in our provision for loan losses of $23,900 and a reduction in income tax expense of $57,500. Net interest income increased for the three months ended March 31, 2014 by $50,100, or 4.7%, from $1,076,900 for the three months ended March 31, 2013 to $1,127,000 for the three months ended March 31, 2014. Our provision for loan losses decreased from a provision of $20,900 for the three months ended March 31, 2013 to a negative provision of $3,000 for the three months ended March 31, 2014. Non-interest income decreased $85,800, or 68.8%, for the three months ended March 31, 2014, from $124,700 for the three months ended March 31, 2013 to $38,900 for the three months ended March 31, 2014. The decrease was primarily due to a decrease of $43,300, or 100%, in the gain on sale of investments and a decrease of $35,800, or 100%, in the gain on sale of loans. Noninterest expenses increased by $158,800, or 14.4%, from $1,104,700 for the three months ended March 31, 2013 to $1,263,500 for the three months ended March 31, 2014. The increase primarily was attributable to an increase in salaries and employee benefits of $60,000, or 10.5%, an increase in directors fees of $11,700, or 47.3%, and an increase in other general and administrative expenses of $72,100, or 45.7%. The increase in other general and administrative expenses was primarily due to a $100,000 write-down of the luxury residential property included in REO, based on a contract of sale received on the property. Settlement occurred on this property on April 30, 2014 and no further loss was recognized. There was also a decrease of $37,600, or 76.7%, in advertising expense.
Fraternity Community Bancorp reports net loss for FY 2013 over net income for FY 2012
M2 - Mon Mar 17, 5:11AM CDT
Fraternity Community Bancorp Inc (OTCBB:FRTR), the holding company for Fraternity Federal Savings and Loan Association, reported on Friday that for the year ended 31 December 2013, a net loss of USD110,600 compared to net income of USD115,200 for the year ended 2012.
Fraternity Community Bancorp, Inc. Reports Results for the Quarter and Year Ended December 31, 2013
Business Wire - Fri Mar 14, 4:00PM CDT
Fraternity Community Bancorp, Inc. (OTCBB:FRTR), the holding company for Fraternity Federal Savings and Loan Association, today announced that it realized a net loss of $110,600 for the year ended December 31, 2013, compared to net income of $115,200 for the year ended December 31, 2012. The decrease in net income between the periods was due in part to a decrease in noninterest income of $123,800 during the year ended December 31, 2013, from $414,000 for the year ended December 31, 2012 to $290,200 for the year ended December 31, 2013. Also contributing was an increase in noninterest expense of $393,500, from $4.2 million for the year ended December 31, 2012 to $4.6 million for the year ended December 31, 2013. The increase primarily was attributable to an increase of $132,000, or 5.9%, in salaries and employee benefits, an increase of $58,600, or 61.2% in director's fees, and an increase of $173,500, or 35.4% in other general and administrative expenses, which consisted primarily of an increase of $167,200, or 357.2% in advertising expense. We had a provision for loan losses of $223,000 for the year ended December 31, 2013 compared to $402,200 for the year ended December 31, 2012.
Fraternity Community Bancorp names Michelle Miller as chief financial officer
M2 - Fri Aug 16, 6:52AM CDT
Thomas K Sterner, chairman and chief executive officer of Fraternity Community Bancorp Inc (OTCBB:FRTR), a bank holding company, on Thursday declared that Michelle Miller has been promoted as chief financial officer.
Fraternity Community Bancorp, Inc. Announces Appointment of Michelle Miller, CPA as Chief Financial Officer
Business Wire - Thu Aug 15, 4:00PM CDT
Fraternity Community Bancorp, Inc. (OTCBB:FRTR), Thomas K. Sterner, Chairman and Chief Executive Officer, announced the promotion of Michelle Miller, CPA to Chief Financial Officer. Mrs. Miller has been with the Company for ten years and five months, and previously held the title of Controller. Mrs. Miller received her CPA designation in 2001. Prior to joining the Company she worked at Stegman and Company, a CPA firm located in Towson, Maryland. She is a member of the Financial Managers Society, American Bankers Association and Maryland Bankers Association.
Fraternity Community Bancorp, Inc. Reports Results for the Quarter Ended June 30, 2013
Business Wire - Fri Aug 09, 4:00PM CDT
Fraternity Community Bancorp, Inc. (OTCBB:FRTR), the holding company for Fraternity Federal Savings and Loan Association, today announced that it realized net income of $102,700 for the quarter ended June 30, 2013, as compared to net income of $102,400 for the same quarter in 2012. This represented earnings per common share of $0.08 for the three months ended June 30, 2013 as compared to $0.07 per common share for the same period ended June 30, 2012.
Fraternity Community Bancorp, Inc. Reports Results for the Quarter Ended March 31, 2013
Business Wire - Wed May 08, 4:00PM CDT
Fraternity Community Bancorp, Inc. (OTCBB:FRTR), the holding company for Fraternity Federal Savings and Loan Association, today announced that it realized net income of $65,200 for the quarter ended March 31, 2013, as compared to net income of $52,200 for the same quarter in 2012. This reflected earnings per common share of $.05 for the three months ended March 31, 2013 as compared to $.04 per common share for the same period ended March 31, 2012.
Fraternity Community Bancorp reports increased net income for 2012
M2 - Mon Mar 04, 9:43AM CST
Fraternity Community Bancorp Inc (OTCBB:FRTR), the holding company for Fraternity Federal Savings and Loan Association, reported on Friday that it recorded net income of USD115,200 for the year ended 31 December 2012.
