September 23, 2017 8:07 AM ET

Banks

Company Overview of West Town Bancorp, Inc.

Company Overview

West Town Bancorp, Inc. operates as the holding for West Town Bank & Trust that provides personal and business banking services. The company’s personal banking products include checking, savings, and money market accounts; and personal, mortgage, auto, and fixed rate home equity installment loans, as well as home equity line of credit. Its business banking services comprise business checking, and business savings and investments accounts; commercial services; and business loans, including lines of credit, equipment loans, agribusiness lending, business owner occupied real estate loans, construction loans, small business administration loans, as well as the USDA business and industry guarante...

8450 Falls Of Neuse Road

Suite 202

Raleigh, NC 27615

United States

Founded in 1922

Key Executives for West Town Bancorp, Inc.

West Town Bancorp, Inc. does not have any Key Executives recorded.

West Town Bancorp, Inc. Key Developments

West Town Bancorp Seeks Acquisitions

West Town Bancorp, Inc. (OTCPK:WTWB) is on the lookout of acquisitions. Eric Bergevin, the President and Chief Executive Officer of the company recently stated, "Additionally, the completion of the private placement positions our company for continued organic growth as well as the flexibility to look at additional acquisition opportunities in the future."

West Town Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Reports Net Charge-Offs for the Second Quarter of 2017

West Town Bancorp, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company's total interest income was $3,366,000 compared to $2,864,000 a year ago. Net interest income was $2,590,000 compared to $2,282,000 a year ago. The increase was attributable to a $479,000 or 17% increase in interest and fee income earned on the Company’s loan portfolio which was driven by volume. Income before income taxes was $915,000 compared to $1,140,000 a year ago. Net income was $514,000 compared to $712,000 a year ago. Diluted earnings per common share were $0.34 compared to $0.49 a year ago. Return on average assets was 0.75% compared to 1.21% a year ago. Return on average shareholders’ equity was 6.97% compared to 11.17% a year ago. For the six months, the company's total interest income was $6,812,000 compared to $5,568,000 a year ago. Net interest income was $5,303,000 compared to $4,442,000 a year ago. Income before income taxes was $2,486,000 compared to $2,647,000 a year ago. Net income was $1,393,000 compared to $1,500,000 a year ago. Diluted earnings per common share were $0.91 compared to $1.04 a year ago. Return on average assets was 1.03% compared to 1.34% a year ago. Return on average shareholders’ equity was 9.69% compared to 12.26% a year ago. Tangible book value per common share was $20.38 compared to $18.75 a year ago. The company recorded $237,000 in net charge-offs during the second quarter of 2017.

West Town Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Reports Charge Offs for the First Quarter Ended March 31, 2017

West Town Bancorp, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported earning per common share – diluted was $0.57 against $0.55 a year ago. Net income was $0.879 million against $0.788 million a year ago. Tangible book value per common share was $20.01 against $18.21 a year ago. Return on average assets was 1.31% against 1.44% a year ago. Return on average shareholders' equity was 12.57% against 12.82% a year ago. Total interest income was $3.446 million against $2.703 a year ago. Net interest income was $2.713 million against $2.159 a year ago. For the first quarter ended March 31, 2017, charge-offs was $80,000 against $89,000 a year ago.

Similar Private Companies By Industry

Company Name Region
1854 Bancorp United States
1889 Bancorp MHC United States
1st Financial Bank USA United States
1st Manatee Bank United States
1st National Bank United States

Recent Private Companies Transactions

Type
Date
Target
Private Placement
February 23, 2017
--
Merger/Acquisition
February 17, 2017
Sound Bank
Private Placement
February 17, 2017
--
\
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
The Advertising Council, Inc. United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Tax Management Inc United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact West Town Bancorp, Inc., please visit www.westtownbank.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.