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United States

Beneficial Bancorp Inc (BNCL.O)

BNCL.O on Nasdaq

13.56USD
29 Jul 2016
Change (% chg)

$0.01 (+0.07%)
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$13.55
Open
$13.56
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$13.71
Day's Low
$13.53
Volume
277,775
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387,621
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$14.26
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$11.94

Latest Key Developments (Source: Significant Developments)

Beneficial Bancorp reports Q2 earnings per share $0.04
Friday, 22 Jul 2016 07:30am EDT 

Beneficial Bancorp Inc : Qtrly net interest income $38.8 million versus $31.2 million . Announces second quarter results, stock repurchase program and cash dividend to shareholders . Announces Q2 results, stock repurchase program and cash dividend to shareholders . Adopted a second stock repurchase program for up to 10% of its outstanding common stock, or 7,770,978 shares .Qtrly earnings per share $0.04.  Full Article

Beneficial Bancorp Inc Major Job Cuts After Closing Conestoga Purchase - American Banker
Saturday, 16 Apr 2016 04:43am EDT 

Beneficial Bancorp Inc:Beneficial Bancorp in Philadelphia is planning to eliminate 11% of its workforce over the next three months - American Banker.The $5.7 billion-asset company, which also announced Friday that it had completed its purchase of Conestoga Bank, said in a press release that the cuts were the result of a comprehensive review of its operating cost structure.Beneficial said it will record a $1.2 million pretax charge in the second quarter to cover expenses, such as severance packages and outplacement services, tied to the program.Beneficial did not disclose how much it will save once the cuts have been made.  Full Article

Beneficial Bancorp Inc announces stock repurchase program
Wednesday, 13 Jan 2016 07:00am EST 

Beneficial Bancorp Inc:Announces stock repurchase program.Says has adopted a stock repurchase program for up to 10% of its outstanding common stock, or 8,291,859 shares.  Full Article

Beneficial Bancorp Inc to acquire Conestoga Bank
Thursday, 22 Oct 2015 07:00am EDT 

Beneficial Bancorp Inc:To acquire Conestoga Bank.Transaction is valued at 160% of conestoga bank's tangible book value at closing but will not be greater than $105 million.Deal expected to be 45% accretive to beneficial's earnings per share in the first year of combined operations.Any tangible book value in excess of $65.6 million will be distributed to conestoga bank's holding co at closing of the transaction.Conestoga, as the sole shareholder of conestoga bank, will receive cash for all of the outstanding shares of conestoga bank.To incur pre-tax merger,integration costs of $10.1 million ,achieve cost savings of 45% of conestoga bank's non-interest expenses.Expects initial tangible book value dilution of 5% from the transaction which is estimated to be earned back in 4.5 years.  Full Article