Small Business Resources, Business Advice and Forms from AllBusiness.com

Bank Northeast Pennsylvania Financial Corp. Sees Income Soar.

By Jerry Lynott, The Times Leader, Wilkes-Barre, Pa. Knight Ridder/Tribune Business News

May 6--HAZLETON, Pa. -- Second-quarter net income for Northeast Pennsylvania Financial Corp. more than doubled from a year ago as the parent company of First Federal Bank retooled its operations for a turnaround.

The company Tuesday reported net income of $2.09 million for the period ended March 31, compared to a restated figure of $920,000 for the second quarter 2003.

The earnings reflected diluted earnings per share of 51 cents for the second quarter,

In addition, make sure to read these premium articles also available with your free trial:

T T T
art_print Printart_email Email 16x16-digg-guy  Digg It delicious-small  del.icio.us

Related Resources

Free AllBusiness Articles

  • Investors watch First Federal stock for signs of turnaround
    • Northeast Pennsylvania Financial Corp. (Nasdaq:NEPF), the holding company of First Federal Bank, Hazleton, has endured upheaval for the past year due to accounting errors, management changes and repo-sitioning its balance sheet to improve earnings. The roller coaster ride began in July 2003 when the company discovered and corrected accounting errors....
  • Community Bank reports 4.8 percent increase in second-quarter
    • DeWITT - Community Bank System, Inc. (NYSE: CBU), parent of Community Bank, turned in higher second-quarter earnings, mainly thanks to balance-sheet growth, solid asset quality, and rising non-interest income, company leaders said. The bank's ton executive also said he foresees the pattern of growth continuing. "I don't see any thunderclouds ......
  • Northeast Pennsylvania Financial to buy Security Savings for 2.89 times revenue
    • The Deal: Northeast Pennsylvania Financial Corp., a holding company for First Federal Bank, has agreed to acquire the Security of Pennsylvania Financial Corp., a holding company for the Security Savings Association of Hazelton, for $23.7 million, or $2.89 in cash. As a result of this acquisition, Northeast will become the ......
  • Executive summary
    • TOP STORIES Shares of Broadcom Corp., Irvine, rose sharply on better-than-expected earnings, and the company announced a 2-for-1 split effective Feb. 11; Broadcom said it will acquire BlueSteel Networks Inc., Mountain View, for $110.7 million, and it licensed LSI Logic Corp.'s technology for high-speed Internet voice transmission ... Conexant Systems ......
  • WHO'S WHO IN NORTHEAST PENNSYLVANIA 2000: Northeast Pennsylvania Trust Co.
    • Hazleton, Pa. - Northeast Pennsylvania Trust Co. has announced the addition of three experienced area trust officers, according to E. Lee Beard, President and Chief Executive Officer of Northeast Pennsylvania Financial Corp., the holding company for First Federal Bank and Northeast Pennsylvania Trust Co. "This expansion of our Trust company ......
  • HOME GROWN STOCKS, A look at some of NE PA's publicly traded companies
    • America's record-breaking economy may be slowing to a more sustainable pace, according to Federal Reserve Chairman Alan Greenspan during his recent midyear economic report to Congress. During the last 13 months, the Fed has increased interest rates six times in an attempt to slow the economy and consumer spending, which ......
  • Former small-town bank, now a financial powerhouse
    • In the 1970s, some banks ran into trouble after lending money overseas. Not so Fulton Bank, whose narrow definition of "foreign lands" at the time included Maryland and New Jersey. Since then, Lancaster-based Fulton Financial Corp. has transformed itself from a small, provincial bank founded in 1882 by tobacco growers, ......
Related Topics
Tools

Sponsored Links

Site Map | Contact Us | FAQs | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy

Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.

Get In-Depth Company Information from Hoover's | Buy a D&B Credit Report | What is in Your Company's D&B Credit Report? | Article Archives
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Information and opinions on AllBusiness.com solely represent the thoughts and opinions of the authors and are not endorsed by, or reflect the beliefs of,
AllBusiness.com, its parent company D&B, and its affiliates.