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Last $11.25 USD
Change Today +0.0499 / 0.45%
Volume 18.7K
As of 8:10 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

sussex bancorp (SBBX) Snapshot

Open
$11.20
Previous Close
$11.20
Day High
$11.25
Day Low
$11.20
52 Week High
03/9/15 - $11.30
52 Week Low
04/25/14 - $8.68
Market Cap
52.5M
Average Volume 10 Days
3.8K
EPS TTM
$0.57
Shares Outstanding
4.7M
EX-Date
02/11/15
P/E TM
19.7x
Dividend
$0.16
Dividend Yield
1.16%
Current Stock Chart for SUSSEX BANCORP (SBBX)

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sussex bancorp (SBBX) Details

Sussex Bancorp operates as the holding company for Sussex Bank that provides commercial banking and related financial services to individual, business, and government customers. It operates through Banking and Financial Services, and Insurance Services segments. The company offers deposit products comprising personal and business checking accounts, time deposits, money market accounts, savings accounts, and demand deposits. It also provides a range of loans consisting of commercial, consumer, mortgage, home equity, and personal loans; commercial and residential real estate loans; construction loans; and industrial loans. The company also operates as a full service general insurance agency, offering commercial and personal lines of insurance. It operates nine banking offices, including eight located in Sussex County, New Jersey; and one in Orange County, New York, as well as a loan production and insurance agency satellite office in Rochelle Park, New Jersey. Sussex Bancorp was founded in 1975 and is based in Franklin, New Jersey.

113 Employees
Last Reported Date: 03/20/15
Founded in 1975

sussex bancorp (SBBX) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $466.4K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $223.4K
Chief Executive Officer of Tri-State Insuranc...
Total Annual Compensation: $195.3K
Compensation as of Fiscal Year 2013.

sussex bancorp (SBBX) Key Developments

Sussex Bancorp Announces the Retirement of Donald L. Kovach as Director

Sussex Bancorp announced Mr. Donald L. Kovach is retiring as director upon the expiration of his term in 2015.

Sussex Bancorp Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Declares Quarterly Cash Dividend, Payable on March 2, 2015

Sussex Bancorp reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total interest income of $5,547,000 compared to $5,101,000 a year ago. Net interest income was $4,713,000 compared to $4,301,000 a year ago. Net interest income after provision for loan losses was $4,407,000 compared to $3,898,000 a year ago. Income before income taxes was $1,053,000 compared to $782,000 a year ago. Net income was $723,000 or $0.16 per basic and diluted share compared to $620,000 or $0.14 per basic and diluted share a year ago. Return on average assets was 0.50% against 0.46% for the same period a year ago. Return on average equity was 5.65% against 5.33% for the same period a year ago. The improvement in net income for both period comparisons (quarter and year) was driven by growth in commercial lending and improved credit quality, which was partially offset by higher non-interest expenses largely resulting from investments in upgrading technology and growing commercial lending platform. The increase in net income for the quarter ended December 31, 2014 was primarily due to increases in net interest income of $412,000 and a decline in the provision for loan losses of $97,000. The increase in net interest income was largely due to a $39.3 million, or 7.7%, increase in average interest earning assets, principally loans receivable, which increased $63.1 million, or 16.0%, and was partially offset by a decrease in the average balance on the securities portfolio of $24.8 million, or 23.7%. For the full year, the company reported total interest income of $21,300,000 compared to $19,642,000 a year ago. Net interest income was $18,006,000 compared to $16,441,000 a year ago. Net interest income after provision for loan losses was $16,469,000 compared to $13,696,000 a year ago. Income before income taxes was $3,601,000 compared to $1,561,000 a year ago. Net income was $2,600,000 or $0.57 per basic and diluted share compared to $1,428,000 or $0.37 per diluted share a year ago. Return on average assets was 0.46% against 0.27% for the same period a year ago. Return on average equity was 5.25% against 3.37% for the same period a year ago. Book value per common share was $10.99 against $10.03 for the same period a year ago. The improvement for 2014 was driven by strong growth in the commercial loan portfolio, which increased $76.1 million, or 26.9%, and a 49.3% decline in credit quality costs as a result of improved credit quality as non-performing assets fell to 1.75% of total assets at December 31, 2014 from 2.80% at December 31, 2013. The increase in net income for the year ended December 31, 2014 was largely due to a decrease in credit quality costs of $2.3 million, or 49.3%, and an increase in net interest income of $1.6 million, which were partially offset by increases in certain non-interest expenses. The increase in net interest income was largely due to a $31.4 million, or 6.3%, increase in average interest earning assets, principally loans receivable, which increased $56.4 million, or 15.1%, and was partially offset by a decrease in the average balance on the securities portfolio of $27.1 million, or 22.9%. The company board of directors declared a quarterly cash dividend of $0.04 per share, which is payable on March 2, 2015 to common shareholders of record as of the close of business on February 16, 2015. The declared quarterly dividend represents a 33.3% increase from the prior quarter.

Sussex Bancorp Presents at FIG Partners 6th Annual West Coast CEO Forum, Feb-04-2015

Sussex Bancorp Presents at FIG Partners 6th Annual West Coast CEO Forum, Feb-04-2015 . Venue: Palace Hotel, San Francisco, California, United States.

 

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