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 The First Quarter 2013

ROBBINSVILLE, N.J., May 3, 2013 (GLOBE NEWSWIRE) -- Roma Financial Corporation (Nasdaq:ROMA) (the "Company"), the holding company of Roma Bank and RomAsia Bank, today announced its financial condition and results of operations for the three months ended March 31, 2013.

At March 31, 2013, the Company's consolidated assets were $1.77 billion, compared to $1.81 billion at December 31, 2012, and $1.9 billion at March 31, 2012. Deposits of $1.45 billion reflected decreases of 2.2% compared to those at December 31, 2012. Stockholders' equity increased to $217.5 million at year end, compared to $215.6 million at December 31, 2012.

"We are pleased to report a significant increase in earnings this quarter compared to the last quarter of 2012. The Company's consolidated net income for the current quarter was $1.38 million compared to $0.6 million, in the fourth quarter of 2013 and in line with the earnings reported for the first quarter of 2012. Net income on a per share basis of $0.05 per diluted share was the same as reported for the comparable prior year quarter and an increase of $0.12 per diluted share compared to the negative $0.07 per diluted share for the fourth quarter of 2012," stated Peter A. Inverso, President and CEO. "Net income in the fourth quarter of 2012 was negatively impacted by $2.0 million of merger related expense," added Inverso.

"Earnings in the current quarter benefited from improving credit quality. A reduction in the level of non-performing assets (non-performing loans and properties acquired in foreclosures) and loan quality stability negated the necessity for a consolidated loan loss provision. Provisions in the fourth and first quarters of 2012 were approximately $1.3 million in each quarter. The ratio of non-accrual loans to total loans declined 33 basis points to 4.10 % from 4.43% from December 31, 2012 to March 31, 2013, the lowest level since the acquisition of Sterling Banks in 2010. While we are encouraged by strides made in improving credit quality, more needs to be done. We are still challenged by compression in net interest income; costs of maintaining reacquired properties; compliance with the regulatory agreement; and resources being devoted in transition planning for the merger," said Inverso.  

1 of 3

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 $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs