BERNARDSVILLE, N.J., Oct. 18, 2012 (GLOBE NEWSWIRE) -- Somerset Hills Bancorp (Nasdaq:SOMH) (the "Company"), parent company of Somerset Hills Bank (the "Bank"), today reported net income of $813,000, or $0.15 per diluted share, for the third quarter of 2012, a 10.3% increase from 2011 third quarter net income of $737,000, or $0.13 per diluted share. For the first nine months of 2012, the Company's net income amounted to $2.5 million, or $0.47 per diluted share, and $2.0 million, or $0.36 per diluted share, for same period of 2011. The Company realized securities gains of $161,000 pretax ($97,000 after taxes) in the first nine months of 2012 and $9,000 pretax ($5,000 after taxes) for the first nine months of 2011. Excluding these securities gains, the Company's net income for the first nine months of 2012 increased by 22.7% from its net income for the first nine months of 2011.
Somerset Hills Bancorp Reports Higher 2012 Third Quarter And Nine-Month Earnings; Declares Cash Dividend Of $0.08 Per Share
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