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February 12, 2016 7:28 AM ET

Banks

Company Overview of Westbury Bancorp, Inc.

Company Overview

Westbury Bancorp, Inc. operates as a savings and loan holding company for Westbury Bank that provides various banking and financial products and services. The company offers deposit accounts, such as non-interest-bearing and interest-bearing checking accounts, passbook and statement savings accounts, variable rate money market accounts, certificates of deposit, and term certificate accounts. Its loan portfolio includes commercial real estate loans, one-to four-family residential real estate loans, multi-family loans, commercial business loans, and construction loans, as well as consumer loans comprising home equity lines of credit and automobile loans. In addition, the company offers online ...

200 South Main Street

West Bend, WI 53095

United States

Founded in 1926

128 Employees

Phone:

262-334-5563

Key Executives for Westbury Bancorp, Inc.

Chief Executive Officer, President, Chief Executive Officer of Westbury Bank and Director
Age: 45
Total Annual Compensation: $208.3K
Executive Chairman of The Board and Chairman of Westbury Bank
Age: 65
Total Annual Compensation: $303.2K
Chief Financial Officer, Executive Vice President of Investor Relations, Chief Financial Officer of Westbury Bank and Executive Vice President of Investor Relations for Westbury Bank
Age: 51
Total Annual Compensation: $180.4K
Compensation as of Fiscal Year 2015.

Westbury Bancorp, Inc. Key Developments

Westbury Bancorp, Inc. Announces Earnings Results for the Quarter Ended December 31, 2015

Westbury Bancorp, Inc. announced earnings results for the quarter ended December 31, 2015. For the quarter, the company reported interest and dividend income of $5,595,000 compared with $4,880,000 for the same period a year ago. Net interest income increased $62,000, or 1.3%, to $5.0 million for the three months ended December 31, 2015 compared to $4.9 million for the three months ended September 30, 2015 and an increase of $554,000, or 12.4%, compared to $4.5 million for the three months ended December 31, 2014. Income before income tax expense was $1,675,000 compared with $670,000 for the same period a year ago. Net income was $1,039,000 or $0.27 per share compared with $447,000 or $0.10 per share for the same period a year ago. Return on average assets was 0.63% compared with 0.31% for the same period a year ago. Return on average equity was 5.30% compared with 2.05% for the same period a year ago. Book value per share - excluding unallocated ESOP shares was $20.00 compared with $18.61 for the same period a year ago. Book value per share - including unallocated ESOP shares was $18.37 compared with $17.24 for the same period a year ago.

Westbury Bancorp, Inc. Announces Financial Results for the Fourth Quarter and Year Ended September 30, 2015

Westbury Bancorp, Inc. announced financial results for the fourth quarter and year ended September 30, 2015. For the quarter, the company reported net interest income of $4,943,000 against $4,402,000 a year ago. Net interest income after provision for loan losses was $4,793,000 against $4,202,000 a year ago. Income before income tax expense was $45,000 against $308,000 a year ago. Net income was $2,483,000 or $0.64 per share against $227,000 or $0.04 per share a year ago. Return on average assets was 1.53% against 0.16% a year ago. Return on average equity was 12.79% against 1.03% a year ago. Book value per share - excluding unallocated ESOP shares was $19.83 as on September 30, 2015 against $18.40 as on September 30, 2014. Book value per share - including unallocated ESOP shares was $18.21 as on September 30, 2015 against $17.04 as on September 30, 2014. Earnings were positively impacted by the reversal in full of deferred tax asset valuation allowance of $2.4 million in September.  The reversal is a result of improvement in core operating results and earnings outlook going forward. For the year, the company reported net interest income of $18,821,000 against $16,685,000 a year ago. Net interest income after provision for loan losses was $17,871,000 against $16,135,000 a year ago. Income before income tax expense was $1,622,000 against loss before income tax expense of $2,607,000 a year ago. Net income was $3,524,000 or $0.85 per share against net loss of $1,435,000 or $0.31 loss per share a year ago. Return on average assets was 0.57% against negative ROA of 0.26% a year ago. Return on average equity was 4.28% against negative ROE of 1.59% a year ago.

Westbury Bancorp, Inc. and Westbury Bank Announce Appointment of Greg J. Remus as Director

On September 16, 2015, the Board of Directors of Westbury Bancorp, Inc. approved the expansion of the Board to ten members and appointed Greg J. Remus, President and Chief Executive Officer of the Company and its subsidiary, Westbury Bank (the "Bank"), to serve as a director of the Company and the Bank for a term to expire at the 2018 annual meeting of stockholders. Mr. Remus will not serve on any committees for the Company's Board due to the independence requirements of NASDAQ.

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