ABBC Abington Bancorp, Inc. featured news, full reports, and detailed charts
Abington Bancorp, Inc. (ABBC) Wrap Up:
Abington Bancorp, Inc. (the “Company”) is a Pennsylvania corporation which was recently organized to be the stock holding company for Abington Savings Bank in connection with our second-step conversion and reorganization completed on June 27, 2007, discussed further below. Abington Savings Bank is a Pennsylvania-chartered, FDIC-insured savings bank, which conducts business under the name “Abington Bank” (the “Bank” or “Abington Bank”). As a result of the Bank’s election pursuant to Section 10(l) of the Home Owners’ Loan Act, the Company is a savings and loan holding company regulated by the Office of Thrift Supervision (the “OTS”). The Bank is a wholly owned subsidiary of the Company. The Company’s results of operations are primarily dependent on the results of the Bank and the Bank’s wholly owned subsidiary, ASB Investment Co. As of December 31, 2007, the Company, on a consolidated basis, had total assets of $1.1 billion, total deposits of $609. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f14%2f0001188112-08-000852.html#FIS_BUSINESS"www.abingtonbank.com
137 Employees
Founded in 1867
Abington Bancorp Inc. (ABBC:NASDAQ)
LAST $6.80 USD
CHANGE TODAY -0.06 -0.87%
VOLUME 40.5K
As of 4:00 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Abington Bancorp Inc. (ABBC)
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OPEN
$6.85
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PREVIOUS CLOSE
$6.86
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DAY HIGH
$7.00
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DAY LOW
$6.78
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52 WEEK HIGH
11/24/08 - $10.33
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52 WEEK LOW
03/10/09 - $5.88
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MARKET CAP
146.1M
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AVERAGE VOLUME 3 mo
92.1K
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DILUTED EPS TTM
$-0.46
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SHARES OUTSTANDING
21.5M
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EX-DATE
09/4/09
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P/E TTM
NM
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DIVIDEND
$0.20
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DIVIDEND YIELD
2.94%
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| K = Thousands M = Millions B = Billions | ||
ABBC Top Compensated Officers
Mr. Robert W. White
Chairman, Chief Executive Officer, President,...
Age: 64
Total Annual Compensation: $304.0K
Mr. Jack J. Sandoski CPA
Chief Financial Officer, Principal Accounting...
Age: 65
Total Annual Compensation: $166.2K
Mr. Frank Kovalcheck
Senior Vice President, Corporate Secretary an...
Age: 51
Total Annual Compensation: $145.0K
Mr. Thomas J. Wasekanes
Senior Vice President, Chief Lending Officer ...
Age: 52
Total Annual Compensation: $110.5K
Mr. Eric L. Golden CPA
Vice President and Controller
Age: 34
Total Annual Compensation: $92.7K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Abington Bancorp Inc. (ABBC)
Abington Bancorp Inc. expected to Report Fiscal Year 2009 Results on January 25, 2010. This event was calculated by Capital IQ (Created on November 3, 2009).
11/3/2009
Abington Bancorp Inc. expected to Report Fiscal Year 2009 Results on January 25, 2010. This event was calculated by Capital IQ (Created on November 3, 2009).
Abington Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009
10/30/2009
Abington Bancorp Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported loss before income taxes of $11.07 million, net loss of $7 million or $0.36 per diluted common share on total interest income of $13.02 million compared to income before income taxes of $3.25 million, net loss of $2.38 million or $0.10 per diluted common share on total interest income of $14 million for the same period a year ago. The company reported loss on average assets of 2.31% and loss on average equity of 12.31% compared to return on average assets of 0.84% and return on average equity of 3.86% for the same period a year ago. For the nine months ended September 30, 2009, the company reported loss before income taxes of $9.10 million, net loss of $5.20 million or $0.26 per diluted common share on total interest income of $40.31 million compared to income before income taxes of $8.18 million, net loss of $6.04 million or $0.26 per diluted common share on total interest income of $42.22 million for the same period a year ago. The company reported loss on average assets of 0.87% and loss on average equity of 4.51% compared to return on average assets of 0.72% and return on average equity of 3.24% for the same period a year ago.
Abington Bancorp Inc. Announces Resignation Beard Miller Company LLP and Appoints ParenteBeard as Auditor
10/2/2009
On October 1, 2009, Abington Bancorp Inc. was notified that the audit practice of Beard Miller Company LLP, the company's independent registered public accounting firm, was combined with ParenteBeard LLC in a transaction pursuant to which Beard combined its operations with ParenteBeard and certain of the professional staff and partners of Beard joined ParenteBeard either as employees or partners of ParenteBeard. As a result of the combination, on October 1, 2009, Beard resigned as the independent registered public accounting firm of the company and, with the approval of the Audit Committee of the company's Board of Directors, ParenteBeard was engaged as the company's independent registered public accounting firm.
ABBC Competitors
| Company | Last | Change | |
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| Market data is delayed at least 20 minutes. | |||
Industry Analysis
| Valuation | ABBC | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 18.0x |
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| Price/Book | 0.6x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | NM | Not Meaningful |
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ABBC |
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ABBC transactions
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| No transactions in the last 6 months. | ||
More Recent News About Abington Bancorp, Inc.
More news for ABBC
ABINGTON BANCORP, INC./PA Files SEC form 8-K, Results of Operations and Financial Condition
Show all filings for ABINGTON BANCORP, INC./PA | Request a Trial to NEW EDGAR Online Pro Form 8-K for ABINGTON BANCORP, INC./PA 24-Jul-2009Results of Operations and Financial Condition Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informati...Click here to read the whole Article (external link)
Abington Bancorp, Inc. Announces Quarterly Dividend
JENKINTOWN, PA--(Marketwire - 08/27/09) - Abington Bancorp, Inc. (the "Company") (NASDAQ:ABBC - News) announced today that its Board of Directors at their meeting on August 26, 2009, declared a quarterly cash dividend of $0.05 per share on the common stock of the Company payable on September 23, 2009 to the shareholders of record at the close of business on September 9, 2009. Abington Bancorp, Inc. is the holding company for Abington Bank. Abington Bank is a Pennsylvania-chartered, FDIC-insured savings bank which was originally organized in 1867. Abington Bank conducts business from its headquarters and main office in Jenkintown, Pennsylvania as well as twelve additional full service branch offices and seven limited service banking offices located in Montgomery, Bucks and Delaware Counties, Pennsylvania. As of June 30, 2009, Abington Bancorp had $1.18 billion in total assets, $757.1 million in deposits and $227.9 million in stockholders' equity.Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. Factors which could result in material variations include, but are not limited to, changes in interest rates which could affect net interest margins and net interest income, competitive factors which could affect net inte...Click here to read the whole Article (external link)
ABINGTON BANCORP, INC./PA Files SEC form 10-Q, Quarterly Report
ITEM 2. - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FORWARD LOOKING STATEMENTS This document contains forward-looking statements, which can be identified by the use of words such as "estimate," "project," "believe," "intend," "anticipate," "plan," "seek," "expect" and similar expressions. These forward-looking statements include: statements of goals, intentions and expectations, statements regarding prospects and business strategy, statements regarding asset quality and market risk, and estimates of future costs, benefits and results. These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following: (1) general economic conditions, (2) competitive pressure among financial services companies, (3) changes in interest rates, (4) deposit flows, (5) loan demand, (6) changes in legislation or regulation, (7) changes in accounting principles, policies and guidelines, (8) costs related to the expansion of our branch network, (9) changes in the amount or character of our non-performing assets, and (10) other economic, competitive, governmental, regulatory and technological factors affecting our operations, pricing, products and services. Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. We have no obligation to update or revise any forward-looking statements to reflect any changed assumptions, any unanticipated events or any changes in the future. Overview-The Company was formed by the Bank in connection with the Bank's second-step conversion and reorganization, completed in 2007. The Bank is a wholly owned subsidiary of the Company. The Company's results of operations are primarily dependent on the results of the Bank. The Bank's results of operations depend to a...Click here to read the whole Article (external link)
Abington Bancorp, Inc. Announces Results for the Third Quarter of 2009
JENKINTOWN, PA--(Marketwire - 10/30/09) - Abington Bancorp, Inc. (the "Company") (NASDAQ:ABBC - News), the parent holding company for Abington Bank (the "Bank"), reported a net loss of $7.0 million for the quarter ended September 30, 2009, compared to net income of $2.4 million for the quarter ended September 30, 2008. The Company's basic and diluted loss per share were both $0.36 for the third quarter of 2009 compared to basic and diluted earnings per share of $0.11 and $0.10, respectively, for the third quarter of 2008. Additionally, the Company reported a net loss of $5.2 million for the nine months ended September 30, 2009, compared to net income of $6.0 million for the nine months ended September 30, 2008. The basic and diluted loss per share were both $0.26 for the first nine months of 2009 compared to basic and diluted earnings per share of $0.27 and $0.26, respectively, for the first nine months of 2008. The net loss for the quarter and the nine-month period were due primarily to our provision for loan losses, which amounted to $8.8 million for the third quarter of 2009 and $12.3 million for the first nine months of 2009. Additionally, we recorded an expense of $4.5 million in the aggregate to write-down the value of certain properties held as real estate owned ("REO") during the third quarter of 2009.Mr. Robert W. White, Chairman, President and CEO of the Company, stated, "Our performance for the third quarter and the first nine months of 2009 continues to reflect the ongoing impact of the recession throughout the econom...Click here to read the whole Article (external link)
ABINGTON BANCORP, INC./PA Files SEC form 8-K, Material Impairments
Item 2.06 Material Impairments On August 26, 2009, management and the Board of Directors of Abington Bancorp, Inc. (the "Company") concluded that its participation interest in each of three shared national credit loans was impaired. The three loans are described below. After taking the impairment charges described herein, the Bank's regulatory capital will continue to exceed the levels to be "well capitalized". As of June 30, 2009, the Bank's regulatory capital levels exceeded the levels to be "well capitalized" by more than $100 million for all capital ratios. The first of the three shared national credit loans is a working capital credit facility to a national residential developer. The Company has a 4.2% participation interest in this loan with a carrying value of $8.3 million as of July 31, 2009. While all payments on this loan have been made to the Company as scheduled since the loan's origination, the borrower is under severe financial pressure, does not have adequate cash flow to service its outstanding obligations and will likely pursue a plan to restructure its debt obligations through a bankruptcy proceeding or by other means. Based on recently received information, the Company has determined, in accordance with accounting principles generally accepted in the United States of America ("US GAAP"), to record an impairment charge of approximately $7.3 million with respect to this loan. The impairment charge will be reflected in the Company's financial statements at and for the period ending September 30, 2009 and the loan will be placed on non-accrual status. The Company understands that the borrower has recently received a non-binding letter of intent to sell substantially all of its assets to a third party. While no assurance can be given that the borrower will be successful in entering into such a sale transaction, if the borrower does enter into a binding agreement on terms that are similar to those in the letter of intent, the Company ma...Click here to read the whole Article (external link)
ABINGTON BANCORP, INC./PA Files SEC form 8-K, Other Events, Financial Statements and Exhibits
Show all filings for ABINGTON BANCORP, INC./PA | Request a Trial to NEW EDGAR Online Pro Form 8-K for ABINGTON BANCORP, INC./PA 27-Aug-2009Other Events, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for i...Click here to read the whole Article (external link)
ABINGTON BANCORP, INC./PA Financials
PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue8,871 14,700 14,742 14,997 Cost of Revenue3,801 4,047 4,041 4,009 Gross Profit - 10,653 10,700 10,988 Operating ExpensesResearch Development - - - - Selling General and Administrative5,289 6,028 5,368 5,298 Non Recurring - - - 688 Others9,031 3,631 339 8,945 Total Operating Expenses - - - - Operating Income or Loss - 995 4,993 (3,943)Income from Continuing OperationsTotal Other Income/Expenses Net - - - - Earnings Before Interest And Taxes(9,250)995 4,993 (3,943)Interest Expense1,815 1,925 2,099 2,397 Income Before Tax(11,065)(931)2,894 (6,341)Income Tax Expense(4,089)(553)742 (2,417)Minority Interest - - - - Net Income From Continuing Ops(6,976)(378)2,152 (3,923)Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - - - Effect Of Accounting Changes - - ...Click here to read the whole Article (external link)
ABINGTON BANCORP, INC./PA Files SEC form 10-Q, Quarterly Report
ITEM 2. - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FORWARD LOOKING STATEMENTS This document contains forward-looking statements, which can be identified by the use of words such as "estimate," "project," "believe," "intend," "anticipate," "plan," "seek," "expect" and similar expressions. These forward-looking statements include: statements of goals, intentions and expectations, statements regarding prospects and business strategy, statements regarding asset quality and market risk, and estimates of future costs, benefits and results. These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following: (1) general economic conditions, (2) competitive pressure among financial services companies, (3) changes in interest rates, (4) deposit flows, (5) loan demand, Table of Contents (6) changes in legislation or regulation, (7) changes in accounting principles, policies and guidelines, (8) costs related to the expansion of our branch network, (9) changes in the amount or character of our non-performing assets, and (10) other economic, competitive, governmental, regulatory and technological factors affecting our operations, pricing, products and services. Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. We have no obligation to update or revise any forward-looking statements to reflect any changed assumptions, any unanticipated events or any changes in the future. Overview-The Company was formed by the Bank in connection with the Bank's second-step conversion and reorganization, completed in 2007. The Bank is a wholly owned subsidiary of the Company. The Company's results of operations are primarily dependent on the results of the Bank...Click here to read the whole Article (external link)
ABINGTON BANCORP, INC./PA Files SEC form 8-K, Results of Operations and Financial Condition
Show all filings for ABINGTON BANCORP, INC./PA | Request a Trial to NEW EDGAR Online Pro Form 8-K for ABINGTON BANCORP, INC./PA 30-Oct-2009Results of Operations and Financial Condition Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informati...Click here to read the whole Article (external link)
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