Merchant Bancshares posts 4Q profit

Merchant Bancshares posts profit of $3.1 million in fourth quarter

Associated Press

26 January 2017 at 4:58 pm

SOUTH BURLINGTON, Vt. (AP) _ Merchants Bancshares Inc. (MBVT) on Thursday reported fourth-quarter profit of $3.1 million.

The South Burlington, Vermont-based bank said it had earnings of 45 cents per share. Earnings, adjusted for non-recurring costs, came to 73 cents per share.

The holding company for Merchants Bank posted revenue of $18.4 million in the period. Its adjusted revenue was $17.3 million.

For the year, the company reported profit of $14.9 million, or $2.16 per share. Revenue was reported as $67.9 million.

Merchant Bancshares shares have dropped roughly 2 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $53.35, an increase of 89 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MBVT at https://www.zacks.com/ap/MBVT

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Keywords: Merchant Bancshares, Earnings Report

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