October 30, 2014 11:59 AM ET

Banks

Company Overview of First Commons Bank, N.A.

Company Overview

First Commons Bank, N.A., a full-service community bank, personal and businesses banking products and services in Massachusetts. Its personal services include checking accounts; money market accounts; savings and CDs; personal lending, including loans for home purchases, home refinancing, and personal borrowing; and other personal banking services, including online banking and bill pay, mobile banking, etc. The company’s business services include business checking accounts; cash management products and services; savings/CDs/money market accounts; business lending, including term loans, lines of credit, small business mortgages, and secured loans; and other business banking services, includin...

718 Beacon Street

Newton Centre

Newton, MA 02459

United States

Founded in 2009

Phone:

617-243-4400

Key Executives for First Commons Bank, N.A.

Co-Founder and Vice Chairman
Age: 72
Co-Founder and Director
Co-Founder and Director
Co-Founder and Director
Age: 59
Compensation as of Fiscal Year 2014.

First Commons Bank, N.A. Key Developments

First Commons Bank, N.A. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

First Commons Bank, N.A. reported unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the third quarter ended September 30, 2014, the company reported net income of $285,000 compared to $110,000 a year ago. For the nine months, the company reported total interest income of $8,143,000 against $7,256,000 a year ago. Net interest income was $6,452,000 against $5,863,000 a year ago. Income before income tax expense was $1,657,000 against $1,062,000 a year ago. Net income was $973,000 against $631,000 a year ago. The bank's return on average assets for the nine-month period ended September 30, 2014 was 0.52%, compared to 0.37% for the nine-month period ended September 30, 2013. Book value of the bank's common stock as of September 30, 2014 was $9.40.

First Commons Bank, N.A. Announces Financial Results for the Second Quarter and Six Months Ended June 30, 2014

First Commons Bank, N.A. announced financial results for the second quarter and six months ended June 30, 2014. Net Income for the quarter was $348,000, compared to $340,000 for the first quarter of 2014. Year-to-date income for the period January 1 to June 30, 2014 was $688,000, compared to $523,000 for the same period of 2013. Total interest income was $5.527 million against $4.717 million a year ago. Net interest income was $4.352 million against $3.827 million a year ago. Income before income tax expense was $1.161 million against $879,000 a year ago. The return on average assets for the six-month period ended June 30, 2014 was 0.53%, compared to 0.48% for the six-month period ended June 30, 2013.

First Commons Bank, N.A. Promotes Oscar Moreno to Senior Vice President, Retail & Business Banking

First Commons Bank, N.A. announced the promotion of Oscar Moreno to Senior Vice President, Retail & Business Banking. Moreno joined First Commons Bank in October, 2012, as Business Banking Officer. He was promoted to Vice President, Director of Branches and Business Banking, in February 2013.

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