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Mayflower Bancorp, Inc. (MFLR) Reports Flat Profit

Fri, 21 Aug 2009 14:46:49 GMT

Mayflower Bancorp, Inc. (MFLR) reported $232,000, or $0.11 per share, in earnings for its first fiscal quarter of 2009. This was approximately flat with the same quarter of 2008. The bank reported total assets of $246.9 million. The company also declared a quarterly cash dividend of $.06 per share to be paid September 8 to shareholders of record as of September 1. This was down from the previous dividend of $0.10 per share. “The decision made by our Board of Directors to reduce the dividend paid per share was made in the interests of retaining more capital in the Company,” said Edward M. Pratt, the CEO of Mayflower Bancorp, Inc. “In this very difficult and still uncertain economic climate, the Board believes this to be an appropriate and prudent decision, and one that serves to both protect our shareholders today, while setting the course for greater shareholder value in the future.” Mayflower Bancorp, Inc reported[More...]

Mayflower Bancorp, Inc. Reports First Quarter Earnings and Payment of Dividend

Thu, 20 Aug 2009 20:47:00 GMT

MIDDLEBORO, Mass., Aug. 20 /PRNewswire-FirstCall/ -- Mayflower Bancorp, Inc. today reported net income of $232,000 or $0.11 per share for its first quarter ended July 31, 2009 as compared to earnings of $250,000 or $0.12 per share for the same quarter last year.
Net interest income for the quarter increased by $45,000 or 2.5% to $1.8 million due to an increase in the Company's net interest margin, from 3.19% in the July 2008 quarter to 3.26% in the July 2009 quarter.
Average interest earning assets for the period increased from $225.0 million for the quarter ended July 31, 2008 to $225.6 million for the quarter ended July 31, 2009 and average interest bearing liabilities grew from $220.4 million for the quarter ended July 31, 2008 to $225.4 million for the quarter ended July 31, 2009.

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Mayflower Bancorp Reports 13% Improvement in Fourth Quarter Earnings and Payment of Dividend

Fri, 29 May 2009 14:48:00 GMT

MIDDLEBORO, Mass., May 29 /PRNewswire-FirstCall/ -- Mayflower Bancorp, Inc. (the "Company") the bank holding company for Mayflower Co-operative Bank (the "Bank") today reported net income of $305,000 or $0.15 per share for its fourth quarter ended April 30, 2009 as compared to earnings of $269,000 or $0.12 per share for the same quarter last year.
Net results for the year ended April 30, 2009 were significantly impacted by the September 2008 announcement of a Federal conservatorship of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation.
Average interest earning assets for the quarter increased from $225.2 million for the quarter ended April 30, 2008 to $228.7 million for the quarter ended April 30, 2009 and average interest bearing liabilities grew from $220.4 million for the quarter ended April 30, 2008 to $226.7 million for the quarter ended April 30, 2009.

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Mayflower Bancorp Reports 34% Improvement in Third Quarter Earnings and Payment of Dividend

Thu, 26 Feb 2009 16:06:00 GMT

Mayflower Bancorp, Inc. the bank holding company for Mayflower Co-operative Bank today reported net income of $387,000 or $.19 per share for its third quarter ended January 31, 2009 as compared to earnings of $289,000 or $.14 per share for the same quarter last year. Diluted earnings per share for the third quarter were $.19 compared to $.14 for the third quarter of last year.[More...]

Mayflower Bancorp Reports Second Quarter Results and Payment of Dividend

Thu, 04 Dec 2008 19:26:00 GMT

Mayflower Bancorp, Inc. today reported a net loss of $907,000 or $.44 per share for its second quarter ended October 31, 2008 as compared to earnings of $256,000 or $.12 per share for the same quarter last year. The diluted loss per share for the second quarter was $.44 compared to diluted earnings per share of $.12 for the second quarter of last year.[More...]

Mayflower Bancorp, Inc. Announces Mark-Down in Value of Preferred Stock; Remains Well Capitalized

Fri, 12 Sep 2008 20:47:00 GMT

MIDDLEBORO, Mass., Sept. 12 /PRNewswire-FirstCall/ -- Mayflower Bancorp, Inc. , the parent company of Mayflower Cooperative Bank, announced today that it will incur a loss of approximately $1.3 million, net of taxes, resulting from the markdown in value of preferred stock issued by the Federal Home Loan Mortgage Corporation ("FHLMC") and the Federal National Mortgage Association ("FNMA").
This loss will be recorded during the Company's second quarter ending October 31, 2008.
The Company will continue to monitor the market and hold its original investments in FHLMC preferred stock and FNMA and FHLMC auction preferred stock.

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Mayflower Bancorp, Inc. Reports First Quarter Earnings and Payment of Dividend

Fri, 22 Aug 2008 15:10:00 GMT

Mayflower Bancorp, Inc. today reported net income of $250,000 or $.12 per share for its first quarter ended July 31, 2008 as compared to earnings of $242,000 or $.12 per share for the same quarter last year. Diluted earnings per share for the quarter were $.12 compared to $.11 for the same quarter of last year.[More...]

Mayflower Bancorp Reports Improved Fourth Quarter Results and Payment of Dividend

Mon, 09 Jun 2008 14:53:00 GMT

Mayflower Bancorp, Inc. the bank holding company for Mayflower Cooperative Bank today reported net income of $269,000 or $.12 per share for its fourth quarter ended April 30, 2008 as compared to earnings of $248,000 or $.12 per share for the same quarter last year. Diluted earnings per share for the fourth quarter were $.12 per share for both periods.[More...]