Last $8.45 USD
Change Today 0.00 / 0.00%
Volume 2.8K
NVSL On Other Exchanges
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NASDAQ GM
As of 11:39 AM 12/22/14 All times are local (Market data is delayed by at least 15 minutes).

naugatuck valley financial (NVSL) Key Developments

Naugatuck Valley Financial Corporation Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Naugatuck Valley Financial Corporation reported unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company earned $1.06 million, or $0.16 per diluted share compared to a net loss of $1.03 million, or $0.16 per diluted share, for the quarter ended September 30, 2013. Total interest income was $4.899 million compared to $4.683 million for the same period of last year. Net interest income was $4.114 million compared to $3.858 million for the same period of last year. Income before provision for income taxes was $1.056 million compared to loss of $1.031 million for the same period of last year. Net interest income increased $0.256 million, or 7%, primarily due to a $0.216 million increase in interest income on earning assets resulting from deployment of overnight funds and borrowed funds into higher yielding investment securities in early 2014. Return on average assets was 0.21%. Return on average equity was 1.77%. For the nine months, the company earned net income of $0.341 million compared to a net loss of $6.4 million for the same period in 2013. Earnings per diluted share for the nine months ended September 30, 2014 was $0.05 compared to a loss of $0.97 for the same period in 2013. Total interest income was $14.828 million compared to $15.367 million for the same period of last year. Net interest income was $12.499 million compared to $12.461 million for the same period of last year. Income before provision for income taxes was $0.341 million compared to a loss of $6.421 million for the same period of last year. Return on average assets was 0.07%. Return on average equity was 0.57%.

Naugatuck Valley Financial Corporation Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Naugatuck Valley Financial Corporation announced unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net interest income of $4,269,000 against $4,312,000 a year ago. Income before provision (benefit) for income taxes was $94,000 against loss before provision (benefit) for income taxes of $4,799,000 a year ago. Net income was $94,000 or 0.01 per basic and diluted share against net loss of $4,799,000 or 0.72 per basic and diluted share a year ago. Return on average assets was 0.07%. Return on average equity was 0.65%. For the six months period, the company reported net interest income of $8,385,000 against $8,603,000 a year ago. Loss before provision (benefit) for income taxes was $715,000 against $5,390,000 a year ago. Net loss was $715,000 or 0.11 per basic and diluted share against net loss of $5,390,000 or 0.81 per basic and diluted share a year ago. Return on average assets was 0.29%. Return on average equity was 2.48%.

Naugatuck Valley Financial Corporation, Annual General Meeting, May 20, 2014

Naugatuck Valley Financial Corporation, Annual General Meeting, May 20, 2014., at 10:00 US Eastern Standard Time. Location: The Community Room in Naugatuck Valley Savings and Loan's main office, 333 Church Street. Agenda: To consider election of three directors for a term of three years; to consider the ratification of the appointment of McGladrey LLP as independent registered public accountants for the fiscal year ending December 31, 2014; to vote on a non-binding resolution to approve the compensation of named executive officers; and to consider such other matters as may properly come before the annual meeting or any postponements or adjournments of the annual meeting.

Naugatuck Valley Financial Corp. to Appoint Robert Bolton to Board

Joseph Stilwell and related investment vehicles disclosed that Naugatuck Valley Financial Corp. agreed to appoint Robert Bolton to its board. Bolton, who was selected by the group, will serve for a term ending in 2016.

Naugatuck Valley Financial Corporation and Naugatuck Valley Savings and Loan Appoint J. Allen Kosowsky to Board of Directors

Naugatuck Valley Financial Corporation and Naugatuck Valley Savings and Loan announced the appointment of J. Allen Kosowsky as a Director of both the company and the Bank effective February 7, 2014. J. Allen Kosowsky, a certified public accountant, is the President and founder of J. Allen Kosowsky, CPA, PC. Mr. Kosowsky has held numerous executive and board positions at public and private companies. He currently serves as a Board Director at Thor Industries where he is a member of the audit committee and chairman of the nominating and governance committee and has previously served as a member of the board of directors of Webster Bank in Waterbury, Connecticut.

 

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