Sussex Bancorp (SBBX) Reports Q1 EPS of $0.43

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Go back to Sussex Bancorp (SBBX) Reports Q1 EPS of $0.43

Sussex Bancorp Reports a 28% Increase in Net Income Driven by Loan and Deposit Growth for the First Quarter 2017

April 26, 2017 9:19 AM EDT

ROCKAWAY, N.J., April 26, 2017 (GLOBE NEWSWIRE) -- Sussex Bancorp (the Company) (Nasdaq: SBBX), the holding company for Sussex Bank (the Bank), today announced a 27.8% increase in net income to $2.0 million, or $0.43 per basic and diluted common share, for the quarter ended March 31, 2017, as compared to $1.6 million, or $0.34 per basic and diluted share, for the same period last year. The improvement for the first quarter of 2017 as compared to the same period last year was mostly driven by a 19.5% increase in net interest income as a result of strong growth in average loans and deposits, which increased... More