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 Operating Results For 2012

ROBBINSVILLE, N.J., Feb. 27, 2013 (GLOBE NEWSWIRE) -- Roma Financial Corporation (Nasdaq:ROMA) (the "Company"), the holding company of Roma Bank and RomAsia Bank, announced today its financial condition and results of operations for the three months and year ended December 31, 2012.

At December 31, 2012, the Company's consolidated assets were $1.81 billion, compared to $1.89 billion at December 31, 2011, and $1.85 billion at September 30, 2012. Deposits of $1.5 billion reflected decreases of 5.8% and 0.05%, compared to those at December 31, 2011 and September 30, 2012, respectively. Stock repurchases during the year, lowered stockholders' equity to $215.6 million at year end, compared to $218.0 million at December 31, 2011.

"A fifty percent increase in our provision for loan losses; further compression in net interest income; costs of maintaining reacquired properties; compliance with the regulatory agreement; and merger related expenses were the significant drivers of our low earnings this year.  Non-performing assets (non-performing loans and properties acquired in foreclosures) continued their increase this year.  While the ratio of non-performing loans to total loans declined 25 basis points to 4.34%, the lowest level since the acquisition of Sterling Banks in 2010, the ratio of non-performing assets to total assets increased 51 basis points to 3.07%",  commented Peter A. Inverso, President and CEO.  

"We continued to carefully and incrementally reduce our balance sheet and the excess liquidity in it and improve our interest rate risk by lowering rates on our certificate deposit products. Interest margins tightened further as longer term investment options remained unattractive and our loan portfolio yields contracted from refinancing and rate competition in the commercial markets. Despite sub-par results, our balance sheet remains very strong and we remain well capitalized by current regulatory standards", added Inverso.

The Company's consolidated net income for the year ended December 31, 2012, was $0.6 million, compared to $7.0 million in the prior year.  The fourth quarter of this year was largely impacted by nearly $2.0 million of merger expenses. Despite a modest reduction in the annual average net interest spread, net interest income declined in 2012 by 3.7%, or approximately $2.0 million.  Net income on a per share basis was $0.02 per diluted share, compared to $0.23 per diluted share last year.

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 $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs