Company Reports Q4 Revenue of $30.32M, Beating Consensus
Reports Q4 revenue $30.32M, consensus $28.06M. Reports Q4 tangible book value per share $37.84. Reports Q4 CET1 capital ratio 11.87%. The company said, "We finished the year in strong fashion, reporting operating net income of $1.36 per share for the 4th quarter and Pre-tax, pre-provision net revenue return on average assets of 1.80%. GAAP Net Income of $1.15 per share for the quarter includes a one-time adjustment for multiple years' state level tax provisioning outside of our home state of Connecticut. We entered the year with a clear set of priorities: strengthen credit, improve the funding mix, build non-interest income, generate high-quality growth, and embrace an innovative mindset as we continue to invest in our people and in technology and I'm pleased to say that we delivered on each of these priorities."