Last $7.40 USD
Change Today -0.0387 / -0.52%
Volume 39.0K
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As of 12:38 PM 08/28/14 All times are local (Market data is delayed by at least 15 minutes).

newbridge bancorp (NBBC) Key Developments

NewBridge Mulls Acquisitions

NewBridge Bancorp (NasdaqGS:NBBC) is seeking acquisition opportunities. Pressley Ridgill, President and Chief Executive Officer, said, Management continues to evaluate vibrant potential new geographic markets for organic or inorganic expansion, and we are exploring prudent acquisition opportunities on an ongoing basis.

NewBridge Bancorp Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Net Charge Offs for the Second Quarter Ended June 30, 2014

NewBridge Bancorp announced earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company announced total interest income of $22,123,000 compared to $16,706,000 for the same period a year ago. Net interest income was $20,255,000 compared to $15,410,000 for the same period a year ago. Income before income taxes was $1,818,000 compared to $5,025,000 for the same period a year ago. Net income available to common shareholders was $1,161,000 compared to $10,947,000 for the same period a year ago. Net income per share, diluted was $0.03 compared to $0.38 for the same period a year ago. Return on average assets was 0.19% compared to 2.74% for the same period a year ago. Return on average equity was 2.03% compared to 25.15% for the same period a year ago. For the six months, the company announced total interest income of $40,187,000 compared to $33,130,000 for the same period a year ago. Net interest income was $36,891,000 compared to $30,467,000 for the same period a year ago. Income before income taxes was $7,169,000 compared to $9,756,000 for the same period a year ago. Net income available to common shareholders was $4,275,000 compared to $14,949,000 for the same period a year ago. Net income per share, diluted was $0.13 compared to $0.51 for the same period a year ago. Return on average assets was 0.42% compared to 1.94% for the same period a year ago. Return on average equity was 4.66% compared to 17.25% for the same period a year ago. Book value as at June 30, 2014 was $6.05 compared to $5.12 as at June 30, 2013. For the second quarter ended June 30, 2014, the company announced net charge offs of $2,091,000 compared to $709,000 for the same period a year ago.

NewBridge Bancorp to Report Q2, 2014 Results on Jul 24, 2014

NewBridge Bancorp announced that they will report Q2, 2014 results on Jul 24, 2014

NewBridge Bancorp Announces appointment of a Team of Commercial Bankers and Treasury Services Professionals

NewBridge Bancorp has picked Charlotte for a new middle-market banking hub, hiring a team of commercial bankers and treasury services professionals. The new team will serve companies with annual revenue between $25 million to $250 million throughout the Carolinas from offices in Charlotte and Greenville, S.C. NewBridge says it also plans to expand the team to North Carolina's Triad and Triangle. From Charlotte, the team will be led by Mike McMahan, executive vice president and director of middle-market banking and treasury services. He brings to NewBridge Bank decades of large and regional bank experience. That includes 20-plus years at Bank of America. Joining McMahan in Charlotte will be Bob Beggs, Walter Bridgeman, Joe Watkins Jr. and Mark Schuch. Beggs, a Wells Fargo veteran, will serve as senior vice president and senior relationship manager. Bridgeman joins NewBridge from CertusBank as senior vice president and head of treasury services. He will manage the development and leadership of a treasury services team with enhanced product offerings tailored specifically for middle-market, commercial, private and business banking clients. Watkins joins NewBridge Bank as director of product management for treasury services, bringing more than 20 years of experience with Bank of America and BB&T managing treasury products, payments and commercialized cash flow solutions for a wide range of small, middle-market and global corporations. Schuch will serve as product manager for treasury services. His career at Bank of America and BB&T included experience with large and middle-market corporations to build and manage automated collections, payments, cash management and operations. In addition, Tommy DeMint III will lead a team in Greenville as senior vice president and head of middle-market banking in South Carolina and as head of syndicated finance.

NewBridge Bancorp Announces Earnings Results for the First Quarter Ended March 31, 2014; Announces Net Charge-offs for the First Quarter Ended March 31, 2014

NewBridge Bancorp announced earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net interest income of $16,636,000 against $15,057,000 a year ago. Income before income taxes was $5,351,000 against $4,731,000 a year ago. Net income available to common shareholders was $3,114,000 or $0.11 basic and diluted per share against $4,001,000 or $0.13 diluted per share a year ago. Book value per share was $5.50 against $5.19 a year ago. Tangible book value per share was $5.22 against $5.09 a year ago. Return on average assets was 0.71% against 1.13% a year ago. Return on average equity was 8.27% against 9.74% a year ago. Pre-tax core net income was $5,439,000 against $4,523,000 a year ago. The growth in net interest income was due primarily from a rise in the average balance of earning assets, principally loans, but was partially offset by a decline in the yield on loans. For the quarter, the company reported net charge-offs of $259,000 against $1,542,000 a year ago.

 

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NBBC

Industry Average

Valuation NBBC Industry Range
Price/Earnings 28.0x
Price/Sales 3.2x
Price/Book 1.2x
Price/Cash Flow 28.0x
TEV/Sales NM Not Meaningful
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