Revere Bank Announces Record profits for 2019 – Net Income of $31.70 Million Increased 14.7percent Over 2018’s Record Profits

Revere Bank Announces Record profits for 2019 – Net Income of $31.70 Million Increased 14.7percent Over 2018’s Record Profits

ROCKVILLE, Md., Jan. 28, 2020 (GLOBE NEWSWIRE) — Revere Bank (the “Bank”) (OTCQX: REVB) today reported quarterly net gain of $8.04 million for the quarter finished December 31, 2019, an 11.4per cent enhance in comparison to net gain of $7.21 million when it comes to quarter finished December 31, 2018, and a 2.6% decrease within the quarter finished September 30, 2019. Net gain per diluted typical share increased 10.2% to $0.65 for the 4th quarter of 2019, when compared with $0.59 for similar duration in 2018. Net gain per fundamental share that is common the 4th quarter of 2019 had been $0.67 in comparison to $0.61 for similar duration in 2018, a growth of 9.8per cent. Both diluted and basic profits per share increased mainly because of greater interest income that is net. […]

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