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FDIC bites into NewAlliance’s 2Q earnings

NewAlliance Bancshares Inc., New Haven operator of banks in Connecticut and Massachusetts, reported a dip in second-quarter net income.

The parent of NewAlliance Bank said it earned $10.1 million or 10 cents a share, in the three months ended June 30.

Without a $2.6 million after-tax assessment by the Federal Deposit Insurance Corp., net profits would have been that much greater, the bank said.

NewAlliance earned $11.8 million or 12 cents a share in the same quarter last year.

Its Tier 1 leverage and total risk-based capital ratios were well above regulatory minimums, at 10.88 percent and 20.58 percent, respectively, the lender said.

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“Our healthy capital levels position the company well for growth while protecting us in this current economic environment,” said Chairman and CEO Peyton Patterson.

At June 30, NewAlliance had $8.58 billion in assets and operated 87 banking offices in Connecticut and Massachusetts.

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