Merchants Bancshares (MBVT) Tops Q4 EPS by 10c

Merchants Bancshares (NASDAQ: MBVT) reported Q4 EPS of $0.61, ex-items, $0.10 better than the analyst estimate of $0.51.

The return on average assets was 0.49% and 0.71% for the three months and year ended December 31, 2015, respectively, compared to 0.59% and 0.73% for the same periods in 2014. The return on average equity was 6.73% and 9.69% for the three months and year ended December 31, 2015, respectively, compared to 7.95% and 9.84% for the same periods in 2014. The Company's Board of Directors approved a dividend of $0.28 per share, payable February 18, 2016, to stockholders of record as of February 4, 2016.

"The completion of the NUVO Bank & Trust Company acquisition on December 4, 2015 expands our New England footprint, presenting new opportunities for our lending teams. We are excited about these growth prospects and welcome our new customers in the greater Springfield and Western Massachusetts markets," commented Geoffrey Hesslink, Merchants Bancshares, Inc.'s President and Chief Executive Officer.

Hesslink added, "The Company continues to deliver solid core earnings on our Vermont business. The recent NUVO acquisition will be immediately accretive to earnings and puts us in a great position for business expansion in 2016."

For earnings history and earnings-related data on Merchants Bancshares (MBVT) click here.

You May Also Be Interested In

• Kodiak Gas Services, Inc. (KGS) Reports Q2 EPS of $0.55
• Nelnet (NNI) Misses Q2 EPS by 36c
• Zentalis Pharmaceuticals, Inc. (ZNTL) Misses Q2 EPS by 11c