This Day On The Street
Continue to site
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

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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $117.81 0.00%
FB $105.79 0.36%
GOOG $750.26 0.00%
TSLA $233.40 1.60%
YHOO $32.94 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs