This Day On The Street
Continue to site
ADVERTISEMENT
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 2013 Earnings

ROBBINSVILLE, N.J., Aug. 9, 2013 (GLOBE NEWSWIRE) -- Roma Financial Corporation (Nasdaq:ROMA) (the "Company"), the holding company of Roma Bank and RomAsia Bank, announced today its results of operations for the three and six months ended June 30, 2013. For the three months ended June 30, 2013, the Company incurred a loss of $355,000 or $0.01 per common and diluted share, while net income for the six months then ended was $1.0 million or $0.03 per common and diluted share. For the same periods of 2012, net income was $0.9 million and $2.3 million, respectively, or $.03 and $.08 per common and diluted share,

At June 30, 2013, the Company's consolidated assets were $1.73 billion, compared to $1.81 billion at December 31, 2012. Loans, before the allowance for loan losses, fell slightly to $1.03 billion, compared to $1.05 billion at the end of 2012, while deposits decreased to $1.41 billion from $1.48 billion at December 31, 2012. Stockholders' equity at the end of the quarter increased to $217.2 million, compared to $215.6 million at December 31, 2012.

"The loss in the quarter was a direct consequence of the loss incurred by Roma Bank from the previously disclosed check kiting scheme. The matter has been referred to the FBI and we will pursue any and all civil remedies to mitigate our loss," commented Peter A. Inverso, President and CEO.

"This loss overshadowed improving loan quality which significantly lowered provisions for loan losses in both the quarter and six month period compared to the same time frames in 2012," added Inverso.

He went on to say, "The reduction in assets primarily reflects a continuation of our strategy to carefully control our liquidity and scheduled repayments of loans exceeding new loan origination. Mortgage refinancing activity has slackened and we have experienced a reduction in our mortgage origination staff."

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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,639.59 +43.24 0.25%
S&P 500 2,063.50 +5.86 0.28%
NASDAQ 4,976.4640 +17.9960 0.36%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs