Town and Country Financial Corp. reported earnings results for the year ended December 31, 2009. For the year, the company reported net income of $1.0 million, or $0.36 per share, up from $113,000, or $0.04 per share, in 2008. Impacting earnings was an after-tax provision expense of $1.8 million, or $0.65 per share, representing higher credit costs brought on by weakness in the economy. Adjusted to exclude income from the sale of securities and a write down due to the impairment of investment securities, net income was $1.2 million, or $0.44 per share compared to $0.28 in the prior year. Driven by further improvement in the core net interest margin as well as strong mortgage fee income, net revenue reached $17.8 million compared to $12.9 million in 2008, both exclusive of security gains/losses and impairments. The reported book value was $10.47 per share compared to $10.25 per share on December 31, 2008. The board of directors declared a $0.03 per share quarterly cash dividend payable on March 15, 2010 to stock-holders of record March 1, 2010.

Town and Country Financial Corp. reported earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, net income was $362,000, or $0.13 per share, compared to $103,000, or $0.04 per share, in the third-quarter of 2008. As previously reported, there were a number of nonrecurring items that impacted earnings in the year-ago period. Current period earnings included after-tax provision expense of $0.08 per share. For the nine months, net income was $945,000 or $0.34 per share, compared to $527,000, or $0.19 per share, for the first nine months of 2008. Net recurring revenue of $13.0 million represents an increase of $3.1 million, or 32%, over the comparable year ago period on the strength of lower funding costs and mortgage originations that totaled $150 million compared to $58 million in the prior comparable period. Book value was $10.57 per share compared to $10.25 per share on December 31, 2008. The Board of Directors of the company declared a $0.03 per share quarterly cash dividend payable on December 15, 2009 to stockholders of record December 1, 2009.

Town and Country Financial Corp. announced earnings results for the second quarter and first half ended June 30, 2009. For the quarter, the company has reported net income of $241,000 or $0.09 per share, compared to $238,000 or $0.08 per share, in the second-quarter of 2008. Current-quarter earnings reflect after-tax impacts from the FDIC special assessment of $0.0) per share and provision expense of $0.20 per share. For the first-half 2009, net income was $583,000 or $0.21 per share compared with net income of $424,000 or $0.15 per share in the first half of 2008. Record net revenue of $8.9 million in the first half of 2009 represents an increase of $2.5 million, or 39%, over the comparable year ago period on the strength of mortgage originations and lower funding costs. The first half revenue included a $241,000 charge to increase the valuation allowance on mortgage servicing rights. As of June 30, 2009 reported book value was $10.43 per share compared to $10.25 per share on December 31, 2008. The company also announced that its board of directors declared a $0.03 per share quarterly cash dividend payable on September 15, 2009 to stockholders of record September 1, 2009.

Town and Country Financial Corporation Reports 2009 Net Income and Declares Quarterly Dividend

Town and Country Financial Corporation Reports 2009 Net Income and Declares Quarterly Dividend

Town and Country Financial Corporation Reports Third Quarter 2009 Net Income and Declares Quarterly Dividend