Last $11.60 USD
Change Today +0.20 / 1.75%
Volume 407.0
FCCY On Other Exchanges
Symbol
Exchange
NASDAQ GM
As of 8:10 PM 02/26/15 All times are local (Market data is delayed by at least 15 minutes).

1st constitution bancorp (FCCY) Snapshot

Open
$11.50
Previous Close
$11.40
Day High
$11.60
Day Low
$11.50
52 Week High
02/24/15 - $12.04
52 Week Low
08/4/14 - $9.70
Market Cap
82.8M
Average Volume 10 Days
10.5K
EPS TTM
$0.75
Shares Outstanding
7.1M
EX-Date
--
P/E TM
15.5x
Dividend
--
Dividend Yield
--
Current Stock Chart for 1ST CONSTITUTION BANCORP (FCCY)

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1st constitution bancorp (FCCY) Details

1st Constitution Bancorp operates as the holding company for 1st Constitution Bank that provides commercial and retail banking services in the Central and Northeastern New Jersey area. The company offers deposit products, including interest bearing and non-interest bearing demand, savings, and time deposits, as well as checking accounts, money market accounts, and certificates of deposit. It also provides commercial loans, including term loans, lines of credit, and loans secured by equipment and receivables; secured and unsecured short-to-medium term commercial loans for businesses for working capital, business expansion, and the purchase of equipment and machinery; and construction loans for real estate developers for the acquisition, development, and construction of residential subdivisions. In addition, the company offers residential first mortgage loans secured by owner-occupied property; construction loans; second mortgage home improvement loans; home equity lines of credit; and non-residential consumer loans for automobiles, recreation vehicles, and boats, as well as secured and unsecured personal loans, and deposit account secured loans. It serves corporations, individuals, partnerships, and other community organizations, as well as small businesses and not-for-profit organizations. As of April 29, 2014, the company operated through 19 banking offices in Cranbury, Fort Lee, Hamilton, Hightstown, Hillsborough, Hopewell, Jamesburg, Lawrenceville, Perth Amboy, Plainsboro, Rocky Hill, West Windsor, Princeton, Rumson, Fair Haven, Shrewsbury, Oceanport, and Asbury Park, New Jersey. 1st Constitution Bancorp was founded in 1989 and is based in Cranbury, New Jersey.

1st constitution bancorp (FCCY) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $850.0K
Senior Vice President of 1St Constitution Ban...
Total Annual Compensation: $215.0K
Compensation as of Fiscal Year 2013.

1st constitution bancorp (FCCY) Key Developments

1st Constitution Bancorp Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Announces Net Charge-Offs for the Fourth Quarter Ended December 31, 2014

1st Constitution Bancorp announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net interest income of $8,480,000 against $5,987,000 a year ago. Income before income taxes was $2,854,000 against $1,918,000 a year ago. Net income was $2,016,000 or $0.28 basic and diluted per share against $1,375,000 or $0.22 diluted per share a year ago. Return on average assets was 0.83% against 0.71% a year ago. Return on average equity was 9.45% against 8.10% a year ago. Adjusted net income was $2,016,000 or $0.28 diluted per share against $1,523,000 or $0.25 diluted per share a year ago. The significant increase in net income for the current quarter was due primarily to the $2.5 million increase in net interest income, which was driven by the internal growth of the Bank's loan portfolio and the inclusion of the operations of the former Rumson-Fair Haven Bank & Trust Company (‘Rumson’) following its merger with and into the Bank on February 7, 2014. The increase in net interest income compared to the fourth quarter of 2013 was due principally to the increase in the loan portfolio, which generated the higher yield earned on earning assets of 4.35% compared to 3.84% in the fourth quarter of 2013. For the year, the company reported net interest income of $32,702,000 against $24,737,000 a year ago. Income before income taxes was $5,429,000 against $8,065,000 a year ago. Net income was $4,356,000 or $0.61 basic and diluted per share against $5,780,000 or $0.95 diluted per share a year ago. Tangible book value per common share as on December 31, 2014 was $10.32 against $10.55 as at December 31, 2013. Book value per common share as on December 31, 2014 was $12.21 against $11.36 as at December 31, 2013. Return on average assets was 0.46% against 0.72% a year ago. Return on average equity was 5.34% against 8.73% a year ago. Adjusted net income was $7,513,000 or $1.05 diluted per share against $6,082,000 or $1.00 diluted per share a year ago. The results of operations for 2014 were impacted by two previously reported events during the first and second quarters of 2014. The company announced net charge-offs for the fourth quarter ended December 31, 2014. Net charge-offs during the fourth quarter of 2014 were $0.7 million and included $0.7 million of gross charge-offs of specific reserves for potential loan losses that were recorded in prior periods. These charge-offs were recorded principally for two loans that were foreclosed and transferred to OREO.

1st Constitution Bancorp Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Net Charge-Offs for the Third Quarter Ended September 30, 2014

1st Constitution Bancorp reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net interest income of USD 8,947,000 compared with USD 6,305,000 for the same period last year. Net interest income after provision for loan losses was USD 8,297,000 compared with USD 5,765,000 for the same period last year. Income before income taxes was USD 3,055,000 compared with USD 2,128,000 for the same period last year. Net income was USD 2,138,000 or USD 0.30 basic and diluted per share compared with USD 1,523,000 or USD 0.25 basic and diluted per share for the same period last year. Return on average assets was 0.88% against 0.76% a year ago. Return on average equity was 10.25% against 9.25% a year ago. Adjusted net income was USD 2,138,000 or USD 0.30 basic and diluted per share compared with USD 1,523,000 or USD 0.25 basic and diluted per share for the same period last year. The significant increase in net income for the current quarter was due to the USD 2.6 million increase in net interest income to USD 8.9 million, which was driven by growth of loan portfolio in the second and third quarters and the inclusion of the operations of the former Rumson-Fair Haven Bank & Trust Company following its merger with and into 1st Constitution Bank on February 7, 2014. The increase in net interest income was due principally to the increase in loans, the higher yield earned on earning assets of 4.58% compared to 4.06% earned in the third quarter of 2013 and the inclusion of USD 175,000 of loan fees from the prepayment of a loan. For the nine months, the company reported net interest income of USD 24,222,000 compared with USD 18,750,000 for the same period last year. Net interest income after provision for loan losses was USD 18,972,000 compared with USD 17,973,000 for the same period last year. Income before income taxes was USD 2,575,000 compared with USD 6,147,000 for the same period last year. Net income was USD 2,340,000 or USD 0.33 diluted per share compared with USD 4,405,000 or USD 0.72 diluted per share for the same period last year. Tangible book value per common share was USD 9.94 as on September 30, 2014 against USD 10.30 as on September 30, 2013. Return on average assets was 0.33% against 0.73% a year ago. Return on average equity was 3.98% against 8.96% a year ago. Adjusted net income was USD 5,497,000 or USD 0.77 basic and diluted per share compared with USD 4,405,000 or USD 0.72 basic and diluted per share for the same period last year. Net charge-offs during the third quarter of 2014 were USD 960,000 and included USD 928,000 of gross charge-offs of specific reserves for potential loan losses that were recorded in prior periods. These charge-offs were recorded for loans in the process of foreclosure or resolution for which management determined the loss would be realized.

1st Constitution Bancorp Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

1st Constitution Bancorp announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported interest income of $9,564,000 against $7,182,000 a year ago. Net interest income was $8,378,000 against $6,121,000 a year ago. Loss before income taxes was $1,168,000 against income before income taxes of $2,170,000 a year ago. Net loss was $440,000 against net profit of $1,557,000 a year ago. Diluted loss per common share was $0.06 against EPS of $0.25 a year ago. Negative return on average assets was 0.18% against positive return on average assets of 0.77% a year ago. Negative return on average equity was 2.15% against positive return on average equity of 9.40% a year ago. Adjusted net income was $1,820,870 against $1,557,030 a year ago. Adjusted net income per diluted share was $0.25 against $0.25 a year ago. For the six months, the company reported interest income of $17,560,000 against $14,654,000 a year ago. Net interest income was $15,275,000 against $12,445,000 a year ago. Loss before income taxes was $480,000 against income before income taxes of $4,019,000 a year ago. Net income was $202,000 against $2,882,000 a year ago. Diluted income per common share was $0.03 against $0.25 a year ago. Return on average assets was 0.04% against 0.71% a year ago. Return on average equity was 0.52% against 8.81% a year ago. Adjusted net income was $3,359,121 against $2,882,348 a year ago. Adjusted net income per diluted share was $0.48 against $0.47 a year ago. Tangible book value per common share at the period-end was $9.61 against $10.05 a year ago.

 

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FCCY

Industry Average

Valuation FCCY Industry Range
Price/Earnings 18.7x
Price/Sales 2.5x
Price/Book 1.0x
Price/Cash Flow 18.7x
TEV/Sales 0.7x
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