washingtonfirst bankshare (WFBI) Key Developments
WashingtonFirst Bankshares Inc. Appoints Caren D. Merrick to its Board of Directors
May 21 15
WashingtonFirst Bankshares Inc. announced the election of Caren D. Merrick, founder and CEO of Pocket Mentor, to its board of directors on May 18, 2015. Ms. Merrick has over 25 years of experience in marketing and management. Ms. Merrick’s prior positions include Co-Founder and Executive Vice President of webMethods Inc. Ms. Merrick also serves as a director with the Metropolitan Washington Airports Authority.
WashingtonFirst Bankshares Inc., Board Meeting, May 18, 2015
May 21 15
WashingtonFirst Bankshares Inc., Board Meeting, May 18, 2015. Agenda: To elect Caren D. Merrick, founder and CEO of Pocket Mentor, to its board of directors.
WashingtonFirst Bankshares, Inc. Declares Quarterly Cash Dividend, Payable on July 1, 2015
May 19 15
WashingtonFirst Bankshares Inc. announced that its board of directors declared a quarterly cash dividend of $0.05 per share payable on July 1, 2015, to shareholders of record as of June 10, 2015.
WashingtonFirst Bankshares Inc. Plans to Open Two New Branches in Potomac and Alexandria
Apr 23 15
WashingtonFirst Bankshares Inc. announced plans to open two new branches - in Potomac, MD and Alexandria, VA - later this year, which would expand its branch network from 17 to 19 branches in the Washington, DC metropolitan area.
WashingtonFirst Bankshares Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Net Charge-Offs for the First Quarter Ended March 31, 2015
Apr 23 15
WashingtonFirst Bankshares Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company's total interest and dividend income was USD 14,310,000 compared to USD 12,013,000 a year ago. Net interest income was USD 12,306,000 compared to USD 10,409,000 a year ago. Net interest income after provision for loan losses was USD 11,606,000 compared to USD 9,864,000 a year ago. Income before provision income taxes was USD 4,318,000 compared to USD 2,446,000 a year ago. Net income was USD 2,790,000 compared to USD 1,608,000 a year ago. Net income available to common shareholders was USD 2,762,000 or USD 0.28 per fully diluted share compared to USD 1,564,000 or USD 0.19 per fully diluted share a year ago. Return on average assets was 0.83% compared to 0.56% a year ago. Return on average shareholder’s equity was 8.34% compared to 5.93% a year ago. Return on average common equity was 9.01% compared to 6.88% a year ago. Book value per common share as on March 31, 2015 was USD 12.99. The company's 77% increase in net income available to common shareholders for the three months ended March 31, 2015 compared to prior year is primarily the result of continued organic growth and the Millennium Transaction consummated in first quarter 2014.
For the quarter, the company reported net charge-offs of USD 0.1 million compared to USD 1.2 million for the three months ended March 31, 2014.