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AmBank Reports Year-End Earnings
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Business New Haven
2/7/2000
By: Kristine Hansen
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WATERBURY - American Bank of Connecticut (AMEX: BKC) has announced results for the fourth quarter ended December 31. Net income was $2.695 million (56 cents per diluted share), compared to $2.396 million (50 cents per diluted share) for the comparable 1998 quarter. Net income for the year was reported at $10.101 million ($2.10 per diluted share), compared to $10.7 million ($2.24 per diluted share) for the year before. The bank noted that 1998 results were higher due to a one-time tax credit. Without that credit, 1998 net income would have been $8.305 million ($1.74 per share).
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