latest news releases from the newsroom
Central Jersey Bancorp
Central Jersey Bancorp Reports Record Net Income for 2008 of $2.9 Million
LONG BRANCH, N.J., Jan. 30, 2009 (GLOBE NEWSWIRE) -- Central Jersey Bancorp (Nasdaq:CJBK), the parent company of Central Jersey Bank, N.A., reported record net income of $2.9 million for the year ended December 31, 2008, an increase of $2.1 million over the reported net income total of $844,000 for 2007. Basic and diluted earnings per share for the year ended December 31, 2008 were $0.32 and $0.31, respectively, as compared to basic and diluted earnings per share of $0.09 for 2007. The significant increase in net income is primarily attributable to a number of key factors including; (i) net interest margin expansion, which is the result of the 2007 balance sheet restructuring initiative, lower funding costs and incremental growth in interest-earning assets; (ii) the realization of gains from the sale of available-for-sale investment securities and SBA loans; and (iii) cost savings initiatives implemented in the latter part of 2007.
Firstbank Corporation Announces Receipt of $33 Million of Capital From CPP
ALMA, Mich., Jan. 30, 2009 (GLOBE NEWSWIRE) -- Thomas R. Sullivan, President and Chief Executive Officer of Firstbank Corporation (Nasdaq:FBMI), announced that on January 30, 2009, the United States Treasury purchased $33 million of preferred stock in Firstbank Corporation pursuant to the Treasury's Capital Purchase Program (CPP). Firstbank announced its approval under this program in a news release on January 20, 2009.
Oritani Financial Corp.
Oritani Financial Corp. Announces 2nd Quarter Results
TOWNSHIP OF WASHINGTON, N.J., Jan. 30, 2009 (GLOBE NEWSWIRE) -- Oritani Financial Corp. (the "Company"), the holding company for Oritani Bank (the "Bank"), reported net income of $39,000 for the three months ended December 31, 2008, and $2.5 million, or $0.07 per share, for the six months ended December 31, 2008. This compares to net income of $2.2 million, or $0.06 per share, and $5.2 million, or $0.13 per share, for the corresponding 2007 periods, respectively.