1st Constitution Bancorp: Q1 Earnings Snapshot
May 3, 2021
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CRANBURY, N.J. (AP) 1st Constitution Bancorp (FCCY) on Monday reported first-quarter net income of $4.9 million.
The bank, based in Cranbury, New Jersey, said it had earnings of 48 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The holding company for 1st Constitution Bank posted revenue of $21 million in the period. Its revenue net of interest expense was $19.4 million, surpassing Street forecasts.
1st Constitution Bancorp shares have increased 21% since the beginning of the year. The stock has increased 48% in the last 12 months.
ST Constitution Bancorp (NASDAQ: FCCY), the holding company (the “Company”) for 1
ST Constitution Bank (the “Bank”), today reported net income of $6.1 million and diluted earnings per share of $0.59 for the three months ended December 31, 2020 compared to net income of $3.2 million and diluted earnings per share of $0.34 for the three months ended December 31, 2019. Net income increased 87.0% and diluted earnings per share increased 73.5% for the fourth quarter of 2020 compared to the fourth quarter of 2019. Net income for the three months ended December 31, 2019 included $880,000 of after tax merger expenses related to the merger of Shore Community Bank (“Shore”) with and into the Bank in November 2019.