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February 09, 2016 11:01 PM ET

Banks

Company Overview of First Commons Bank, N.A.

Company Overview

First Commons Bank, N.A., a full-service community bank, personal and businesses banking products and services in Massachusetts. Its personal services include checking accounts; money market accounts; savings and CDs; personal lending, including loans for home purchases, home refinancing, and personal borrowing; and other personal banking services, including online banking and bill pay, mobile banking, etc. The company’s business services include business checking accounts; cash management products and services; savings/CDs/money market accounts; business lending, including term loans, lines of credit, small business mortgages, and secured loans; and other business banking services, includin...

718 Beacon Street

Newton Centre

Newton, MA 02459

United States

Founded in 2009

Phone:

617-243-4400

Key Executives for First Commons Bank, N.A.

Co-Founder, Chairman, Chief Executive Officer and President
Co-Founder and Vice Chairman
Age: 73
Co-Founder and Director
Co-Founder and Director
Co-Founder and Director
Age: 60
Compensation as of Fiscal Year 2015.

First Commons Bank, N.A. Key Developments

First Commons Bank, N.A. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015

First Commons Bank, N.A. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported net income was $364,000 representing an 82% increase versus last quarter’s net income of $200,000. For the full year, the company reported total interest income of $11,624,000 compared with $10,919,000 for the same period last year. Net interest income was $9,084,000 compared with $8,695,000 for the same period last year. Income before income tax expense was $1,767,000 compared with $2,147,000 for the same period last year. Net income was $1,025,000 compared with $1,255,000 for the same period last year.

First Commons Bank, N.A. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

First Commons Bank, N.A. reported unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the third quarter ended September 30, 2014, the company reported net income of $200,000 compared to $254,000 a year ago. For the nine months, the company reported total interest income of $8,323,000 against $8,143,000 a year ago. Net interest income was $6,505,000 against $6,452,000 a year ago. Income before income tax expense was $1,143,000 against $1,657,000 a year ago. Net income was $661,000 against $973,000 a year ago. Tangible book value on September 30, 2015, was $10.00 per share, with approximately $31 million in equity and a Tier 1 capital ratio to average assets for the quarter of 10.75%.

First Commons Bank, N.A. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

First Commons Bank, N.A. reported unaudited earnings results for the second quarter and six months ended June 30, 2015. For the six months, total interest income was $5,357,000 against $5,527,000 a year ago. Net interest income was $4,195,000 against $4,352,000 a year ago. Income before income tax expense (benefit) was $795,000 against $1,162,000 a year ago. Net income was $461,000 against $688,000 a year ago. Tangible Book Value on June 30th 2015 was $9.93 per share. Net income for the three months period ended June 30, 2015 increased 23% to $254,000 against $207,000 for the three months period ended March 31, 2015.

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