This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Roma Financial Corporation Announces Second Quarter 2010 Earnings

ROBBINSVILLE, N.J., July 23, 2010 (GLOBE NEWSWIRE) -- Roma Financial Corporation (Nasdaq:ROMA) (the "Company"), the holding company of Roma Bank, announced today its results of operation for the three and six months ended June 30, 2010. Net income attributable to Roma Financial Corporation for the three and six months ended June 30, 2010 was $1.5 million and $3.1 million, respectively, or $.05 and $.10 per common and diluted share, compared to $.5 million and $1.4 million, or $.02 and $.05 per common and diluted share, for the same period of the prior year.

At June 30, 2010 the Company's consolidated assets increased 10.8% to $1.5 billion compared to $1.3 billion at December 31, 2009, deposits increased 9.3% to $1.1 billion and equity increased to $218.2 million from $216.2 million at December 31, 2009.

"We are exceedingly pleased with our operating results in both the current quarter and the first half of this year," stated Peter A. Inverso, President and CEO. 

"Earnings in the second quarter mirrored the strong performance of the first quarter and were substantially higher than those reported for the comparable quarter last year. For the six months ended June 30, 2010, net income registered an impressive 112% improvement over net income reported for the first six months of 2009. Our banks continue to attract new customers and experience strong deposit growth. At the end of the current quarter, deposits reflected another successive record and fueled a new high in earning assets and total assets. Total assets increased $216.9 million, or 17.5%, over total assets at the end of the first six months of 2009. Net interest income increased 36.5% to $20.5 million during the current six month period, compared to last year's comparable period. Our net interest margin, while unchanged from the first quarter of this year, improved notably for the current six months, compared to the same period last year.   The improvement in net interest income in the current six months absorbed a $1.3 million increase in our provision for loan losses. Operationally, non-interest expense has been well controlled.   However, there was a sizable increase in expenses associated with other real estate owned. Pre-merger expenses of $525.5 thousand related to the merger with Sterling Banks were fully offset by savings in  federal deposit insurance premiums as the 2009 period had included a special assessment. Overall, our efficiency ratio tightened compared to the same six months last year," he added.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,514.37 +65.12 0.40%
S&P 500 1,879.55 +7.66 0.41%
NASDAQ 4,161.4580 +39.9120 0.97%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs