Prudenital Bancorp Inc of Pennsylvania (PBIP) 銘柄情報

PBIP $15.90 announces 4th qtr. and full fiscal year results


Prudential Bancorp, Inc. Announces Fourth Quarter and Fiscal Year Results

Prudential Bancorp, Inc. (the “Company”) (Nasdaq:PBIP), the holding company for Prudential Savings Bank (the “Bank”), reported net income of $982,000, or $0.13 per diluted share, for the quarter ended September 30, 2016 as compared to $12,000 or $0.00 per diluted share, for the comparable period in 2015. The substantial increase in net income for the three month period ended September 30, 2016 as compared to the same quarter in the prior year was in large part due to increased net interest income, gains recognized on the sale of mortgage-backed securities and a reduction in the provision for loan losses recorded during the fourth quarter of fiscal 2016 combined with a significant reduction in the Company’s non-interest expense. These favorable variances were partially offset by a charge of approximately $300,000 related to expenses incurred in connection with the pending merger with Polonia Bancorp, Inc. (“Polonia”).


For the fiscal year ended September 30, 2016, the Company recognized net income of $2.7 million, or $0.36 per diluted share, as compared to net income of $2.2 million, or $0.27 per diluted share for the fiscal year ended September 30, 2015. Increased profitability for the year ended September 30, 2016 was primarily attributable to an increase in net interest income, gains recognized on the sale of mortgage-backed securities and a reduction in the provision for loan losses recorded during the fiscal 2016. In addition, the Company reduced its non-interest expenses by approximately $1.9 million (including the effect of expenses related to the merger with Polonia) resulting from a comprehensive expense reduction program which began at the beginning of the fiscal 2016. Profitability for the year ended September 30, 2015 primarily reflected the $2.1 million aggregate gain realized on the sale of three branch offices as well as a $138,000 gain on the sale of a SBA loan, partially offset by a provision for loan losses of $735,000 and increased non-interest expense primarily related to salaries and benefits expense.

Highlights for the quarter and year ended September 30, 2016 are as follows:

•Core earnings (non-GAAP) increased to $1.3 million for the quarter ended and exceeded $3.1 million for the year ended September 30, 2016.
•Net income for fiscal 2016 of $2.7 million reached its highest level since fiscal year 2010.
•Total interest income and net interest income increased while interest expense and the cost of funds decreased for the quarter and year ended September 30, 2016 compared to the same periods in 2015.
•Net loans increased $32.3 million, or 10.3%, from September 30, 2015.
•Total deposits increased $24.1 million or 6.61% from September 30, 2015.
•The Company received the regulatory approvals necessary to acquire Polonia.
•The Bank’s capital levels continue to remain substantially higher than the levels required to be considered well capitalized for regulatory purposes.
•The Company has continued its payment of regular quarterly cash dividends to enhance value to our shareholders. For the three months and year ended September 30, 2016, the Company paid $0.03 and 0.12, respectively.

.... full release ...
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PBIP $12.44, ready to break to new highs

http://stockcharts.com/freecharts/gallery.html?s=pbip

BV $13.66 12/31/2015

continues stock repurchases

http://globenewswire.com/news-release/2015/01/26/700059/10117073/en/Prudential-Bancorp-Inc-Announces-First-Quarter-Fiscal-2015-Results.html

Seidman & Associates involvement, largest shareholder with 6.9% stake as of Jan 2015

http://quotes.wsj.com/PBIP/company-people

Does anyone know?

HOW HEALTHY IS THIS BANK?

http://banktracker.investigativereportingworkshop.org/banks/pennsylvania/philadelphia/prudential-savings-bank/

*No TARP

As of August 1, 2014, 9,544,809 shares were issued and outstanding.

Equity: $129,456,000

Book Value: $13.56

Market Value: $11.90

P/B: 0.88

http://ih.advfn.com/p.php?pid=nmona&article=63266045

*PBIP is selling at 12% discount to BV

Marker:
Prudential Bancorp, (PBIP)
$11.90 up 0.01 (0.08%)
Volume: 7,311

Current Report Filing (8-k)

Item 1.01

Entry Into a Material Definitive Agreement

On August 29, 2014, Prudential Bancorp, Inc. (the “Company”) and the Company’s wholly owned subsidiary, Prudential Savings Bank (the “Bank”), entered into an Agreement (the “Agreement”) with Seidman and Associates L.L.C., Seidman Investment Partnership, L.P., Seidman Investment Partnership II, L.P., Seidman Investment Partnership III, L.P., LSBK06-08, Broad Park Investors, CBPS, L.L.C., 2514 Multi-Strategy Fund, L.P., Veteri Place Corporation, Sonia Seidman, an individual, and Lawrence B. Seidman, an individual (collectively, “the Seidman Group”) and Mr. Dennis Pollack, an individual who was recommended by the Seidman Group for appointment to the Boards of Directors of the Company and the Bank. The Seidman Group owns approximately 5.9% of the outstanding shares of the Company’s common stock.

The Agreement provides that Mr. Pollack will be appointed by the Company to the class of directors whose term expires at the Annual Meeting of Shareholders to be held in February 2016. Mr. Pollack will also be appointed to the Board of Directors of the Bank for a similar term. Such appointment will not occur until the merger of TF Financial Corporation with National Penn Bancshares, Inc. is completed.

During the term of the Agreement, which is scheduled to continue through the date of the Company’s Annual Meeting of Shareholders in 2016, the Seidman Group and Mr. Pollack will not, among other things, solicit proxies in opposition to any recommendations or proposals of the Company’s Board of Directors, initiate or solicit shareholder proposals or seek to place any additional representatives on the Company’s Board of Directors other than Mr. Pollack (or any replacement director), oppose any proposal or director nomination submitted by the Board of Directors to the Company’s shareholders, vote for any nominee to the Company’s Board of Directors other than those nominated or supported by the Board of Directors, seek to exercise any control or influence over the management of the Company or the Boards of Directors of the Company or the Bank (although nothing in the Agreement will prevent Mr. Pollack, from expressing his views to other members of the Board at duly convened meetings of the Boards of Directors), propose or seek to effect a merger or sale of the Company or initiate litigation against the Company.

In addition, during the term of the Agreement, the Seidman Group has agreed to vote in favor (i) of a new omnibus stock incentive plan and (ii) of the Board of Directors’ nominees for election or re-election as directors of the Company.

http://ih.advfn.com/p.php?pid=nmona&article=63420642

Statement of Beneficial Ownership (sc 13d)

Date : 08/22/2014 @ 9:38AM
Source : Edgar (US Regulatory)
Stock : Prudential Bancorp, Inc. (MM) (PBIP)
Quote : $11.90 0.01 (0.08%) @ 8:10PM

LAWRENCE B. SEIDMAN

100 Misty Lane, 1st Floor

Parsippany, New Jersey 07054

http://ih.advfn.com/p.php?pid=nmona&article=63348061

Marker:
Prudential Bancorp, (PBIP)
$11.90 up 0.01 (0.08%)
Volume: 7,311