First Connecticut Bancorp (FBNK) Tops Q1 EPS by 6c

First Connecticut Bancorp (NASDAQ: FBNK) reported Q1 EPS of $0.32, $0.06 better than the analyst estimate of $0.26.

“I am pleased to report record earnings for the first quarter. Our emphasis on expense management and efficiency, coupled with our asset sensitive balance sheet reflect marked improvement in our return on average assets of 0.71%, return on average equity of 7.67% and efficiency ratio of 67.85%, as compared to a year ago. Our business model remains focused on the essential banking services of taking in deposits and making loans in the communities in which we serve. The work being accomplished by our employees in producing operational efficiencies through our quality improvement initiatives is impressive,” stated John J. Patrick Jr., First Connecticut Bancorp’s Chairman, President and CEO.

For earnings history and earnings-related data on First Connecticut Bancorp (FBNK) click here.

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