Last $16.00 USD
Change Today +0.15 / 0.95%
Volume 17.5K
As of 8:10 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

first connecticut bancorp (FBNK) Snapshot

Open
$15.78
Previous Close
$15.85
Day High
$16.21
Day Low
$15.72
52 Week High
11/29/13 - $17.00
52 Week Low
06/12/13 - $13.14
Market Cap
263.3M
Average Volume 10 Days
33.7K
EPS TTM
$0.24
Shares Outstanding
16.5M
EX-Date
03/5/14
P/E TM
66.7x
Dividend
$0.12
Dividend Yield
0.75%
Current Stock Chart for FIRST CONNECTICUT BANCORP (FBNK)

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first connecticut bancorp (FBNK) Details

First Connecticut Bancorp, Inc. operates as the holding company for Farmington Bank that provides consumer and commercial banking services to businesses, individuals, and governments in Central Connecticut. The company offers a range of deposit instruments, including checking and savings accounts, money market savings accounts, negotiable order of withdrawal accounts, demand deposits, and fixed-rate time deposits. It also provides various loans, such as one-to-four family residential real estate loans; commercial real estate loans; construction loans, including commercial construction loans and real estate subdivision development loans to developers, licensed contractors, and builders for the construction and development of commercial real estate projects and residential properties, as well as loans to individuals and contractors for the construction and acquisition of personal residences; commercial loans consisting of term loans, revolving lines of credit for working capital needs, equipment lines of credit to facilitate the purchase of equipment, and letters of credit; home equity loans and home equity lines of credit secured by owner-occupied one-to-four family residences; and consumer loans, including installment, demand, revolving credit, and collateral loans. The company operates 20 full service branch offices, 4 limited services offices, and 2 stand-alone ATM facilities in Hartford County. First Connecticut Bancorp, Inc. was founded in 1851 and is headquartered in Farmington, Connecticut.

337 Employees
Last Reported Date: 03/17/14
Founded in 1851

first connecticut bancorp (FBNK) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $580.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $265.2K
Chief Lending Officer, Executive Vice Preside...
Total Annual Compensation: $345.3K
Executive Vice President and Director of Reta...
Total Annual Compensation: $214.6K
Compensation as of Fiscal Year 2012.

first connecticut bancorp (FBNK) Key Developments

First Connecticut Bancorp, Inc. Announces Quarterly Dividend Payable on March 17, 2014

First Connecticut Bancorp, Inc. announced that its Board of Directors has voted to pay quarterly cash dividend in the amount of $0.03 per share on March 17, 2014 to all shareholders of record as of March 7, 2014.

First Connecticut Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

First Connecticut Bancorp, Inc. reported earnings results for the fourth quarter and year ended December 31, 2013. Net income for the fourth quarter ended December 31, 2013 was $1.06 million, or $0.07 per share, compared to $3.17 million, or $0.19 per share, for the same quarter ended December 31, 2012. Net interest income for the fourth quarter ended December 31, 2013 was $14.22 million, compared to $14.09 million for the same quarter ended December 31, 2012. Net income for the year ended December 31, 2013 was $3.58 million, or $0.23 per share, compared to $3.92 million, or $0.24 per share, for the year ended December 31, 2012. Net interest income for the year ended December 31, 2013 was $53.04 million, compared to $53.23 million for the year ended December 31, 2012. The company continues to be encouraged that core earnings are building as a direct result of annual increase in loans of $282 million and $89 million for the quarter. This organic growth coupled with the stabilization of net interest margin and flat operating expenses resulted in a $0.45 increase in tangible book value per share for the year.

First Connecticut Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Records Impaired Loans and Net Charge-Offs for the Fourth Quarter of 2013

First Connecticut Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported total interest income was $16,697,000 against $16,507,000 a year ago. Net interest income was $14,222,000 against $14,092,000 a year ago. Income before income taxes was $1,352,000 against $4,420,000 a year ago. Net income was $1,064,000 or $0.07 per basic and diluted share against net income of $3,170,000 or $0.19 per basic and diluted share a year ago. Tangible book value was $14.08 compared with $13.63 for the same period last year. Return on average assets was 0.21% compared to 0.71% reported a year ago. Return on average equity was 1.85% compared to 5.20% reported a year ago. The increase in net interest income was despite a decrease in interest income on the resort portfolio of $561,000 in the current quarter compared to the fourth quarter of 2012. For the full year, total interest income was $62,886,000 against $62,860,000 a year ago. Net interest income was $53,044,000 against $53,232,000 a year ago. Income before income taxes was $4,687,000 against $5,264,000 a year ago. Net income was $3,580,000 or $0.23 per basic and diluted share against net income of $3,923,000 or $0.24 per basic and diluted share a year ago. The company recorded impaired loans of $39,623,000 compared with $36,857,000 for the same period last year. Net charge-offs in the quarter were $24,000 or 0.01% to average loans (annualized) compared to $42,000 or 0.01% to average loans (annualized) in the linked quarter.

 

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FBNK Competitors

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Company Last Change
ASB Bancorp Inc $17.72 USD -0.0299
BSB Bancorp Inc/MA $17.16 USD +0.10
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United Financial Bancorp Inc $18.06 USD -0.02
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Industry Analysis

FBNK

Industry Average

Valuation FBNK Industry Range
Price/Earnings 68.0x
Price/Sales 3.9x
Price/Book 1.1x
Price/Cash Flow 71.1x
TEV/Sales NM Not Meaningful
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