This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Meridian Interstate Bancorp, Inc., Reports Results for the Three and Nine Months Ended September 30, 2009 2009-10-22 17:19 ET - News Release BOSTON, Oct. 22, 2009 (GLOBE NEWSWIRE) -- Meridian Interstate Bancorp, Inc. (the "Company" or "Meridian") (Nasdaq:EBSB), the holding company for East Boston Savings Bank (the "Bank"), announced net income of $1.9 million or $.09 per share (basic and diluted), for the quarter ended September 30, 2009, compared to net income of $2.1 million, or $.10 per share (basic and diluted) for the quarter ended September 30, 2008. The Company recorded net income of $1.7 million or $.08 per share (basic and diluted) for the nine months ended September 30, 2009, compared to a net loss of $394,000 for the comparable 2008 period. Earnings per share information is not applicable for the nine months ended September 30, 2008, as shares were not outstanding for the entire period.
Notable items in 2009 include the following:
* Total loans increased by $74.7 million, or 10.5% from
December 31, 2008.
* Deposits increased by $125.2 million, or 15.7% from
December 31, 2008.
* The net interest margin improved for the sixth consecutive
quarter, increasing from 3.18% for the quarter ended June 30,
2009 to 3.35% for the quarter ended September 30, 2009.
* To increase the Bank's brand exposure in Suffolk County, the
Company initiated a new strategic marketing campaign in
September 2009, which is entitled "Hard Work" and highlights the
Bank's community focus and commitment to hard work.
* In September 2009, the Bank hosted an open house at its newest
branch in Medford, MA, bringing the number of locations to
provide convenient customer service to 13.
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