Comm Bancorp, Inc. reported its second quarter earnings of 2009 for the period ending 6/30/09. The bank earned $0.70 per share, down from the $1.84 earnings per share in the same quarter of 2008. The company has a tangible book value of $34.44 at the end of the quarter compared to a market price of $36.59.
Other important metrics that Comm Bancorp, Inc. reported include:
Net Interest Margin – 4.09%
Total risk-based capital ratio – 11.97%
Nonperforming assets to loans – 4.49%
Comm Bancorp, Inc. is a holding company with two subsidiaries. Its main subsidiary is the Community Bank & Trust Co., a commercial bank with 15 branch offices in five counties in Pennsylvania. Community Bank & Trust Co. had total deposits of $542.3 million as of 12/31/2008. The bank was one of the few that declined to participate in the Capital Purchase Program (CPP) set up by the U.S Treasury in late 2008. The other subsidiary that Comm Bancorp, Inc. owns is the Comm Realty Corporation, which was set up to hold and manage real estate and other assets foreclosed on by the Community Bank & Trust Co.
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