Meetinghouse Bancorp, Inc. Reports First Quarter Earnings

DORCHESTER, Mass.--()--Meetinghouse Bancorp, Inc. (OTC Pink: MTGB) (the “Company”), holding company for Meetinghouse Bank (the “Bank”), reported net loss for the three months ended December 31, 2016 of $36,000, compared to net income of $41,000 for the three months ended December 31, 2015.


At December 31,

(Dollars in

2016 2015
Selected Financial Condition Data:
Total assets $ 119,945 $ 122,431
Cash and cash equivalents 17,351 6,911
Securities available-for-sale 13,752 15,678
Loans held-for-sale 4,145 5,841
Loans, net 78,861 86,722
Deposits 100,053 102,080
Federal Home Loan Bank advances 8,654 9,235
Stockholders' equity 10,901 10,655


At December 31,

(Dollars in

2016 2015
Operating Data:
Interest and dividend income $ 994 $ 1,100
Interest expense   240     226  
Net interest and dividend income 754 874
(Benefit) provision for loan losses   (12 )   (6 )
Net interest and dividend income after provision for loan losses 766 880
Noninterest income 328 340
Noninterest expense   1,138     1,154  
Income before income taxes (44 ) 66
Income tax expense   (8 )   25  
Net income $ (36 ) $ 41  

This news release may contain certain forward-looking statements, such as statements of the Company’s or the Bank’s plans, objectives, expectations, estimates and intentions. Forward-looking statements may be identified by the use of words such as “expects,” “subject,” “believe,” “will,” “intends,” “will be” or “would.” These statements are subject to change based on various important factors (some of which are beyond the Company’s or the Bank’s control) and actual results may differ materially. Accordingly, readers should not place undue reliance on any forward-looking statements (which reflect management’s analysis of factors only as of the date of which they are given). These factors include general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, the ability of the Company or the Bank to effectively manage its growth and results of regulatory examinations, among other factors. The foregoing list of important factors is not exclusive.


Meetinghouse Bancorp, Inc.
Anthony A. Paciulli, 617-296-7039

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