Mortgage Marketshare Module
- Accurately track commercial and residential lending, measure sales performance against competition and market activity, identify high-performing competitors, and locate and target emerging markets.
  
  LEARN MORE >>
Loan Originator Module
- Access the largest and most comprehensive mortgage loan origination database in New England with round-the-clock interactive access and weekly trend updates.
  
  LEARN MORE >>
Marketing Lists
- Gain access to the most accurate and detailed transaction information in the country and offers a range of marketing lists for more than 130 million households (covering 94% of the U.S. population).
  
  LEARN MORE >>
Custom Research
- Powered by one-of-a-kind real estate, mortgage, and loan origination data, The Warren Group provides custom solutions for your research projects, database expansion, and strategic planning.
  
  LEARN MORE >>
Real Estate Records Search
- Access the largest and most complete real estate database in New England, including sales, price trends, liens and foreclosures.
  
  LEARN MORE >>

Merger Costs Sting River Bank Profits

Oct 21, 2010 | Reprints | Unlock Link | Print

LSB Corp., parent company of North Andover-based River Bank, has reported net income of $1.1 million for the third quarter, down from $1.3 million during the same period last year.

However, net income for the nine months ended Sept. 30 rose to $4.3 million, up from $3 million for the same period of 2009.

On July 15, the company entered into an agreement and plan of merger with Connecticut-based People’s United Financial Inc. providing for People’s United to acquire the company in an all-cash transaction valued at $96 million.

"I am pleased to report earnings of 25-cents per diluted share for the third quarter of 2010. This is after transaction costs of $475,000 or 10-cents per share related to our pending acquisition by People’s United," said President and CEO Gerald T. Mulligan. "Despite the challenges in the economy, we have been able to sustain our strong operating results and achieved core deposit growth of 4.1 percent since Dec. 31, 2009."

Banking & Lending