Central Bancorp Inc (CEBK, Financial) filed Annual Report for the period ended 2010-03-31.
Central Bancorp Inc has a market cap of $17.1 million; its shares were traded at around $10.26 with a P/E ratio of 11.2 and P/S ratio of 0.8. The dividend yield of Central Bancorp Inc stocks is 1.9%.
The Banks loan portfolio increased by $840 thousand, or 0.2%, to $461.5 million at March 31, 2010 from $460.7 million at March 31, 2009. The increase was primarily due to increases in the residential real estate portfolio, partially offset by decreases in the commercial real estate and construction loan portfolios. During fiscal 2009 and 2010, management de-emphasized commercial real estate and construction lending as a result of the current market environment. Commercial and industrial loans decreased primarily due to the repayment of such loans. During fiscal 2009 and 2010, management focused on increasing the residential real estate portfolios as these loans generally have less risk compared to commercial and construction lending.
Residential Lending. Residential mortgage loans at March 31, 2010 totaled $217.1 million, or 47.0%, of the total loan portfolio. Fixed-rate residential mortgages totaled $172.1 million, or 79.3%, of the residential loan portfolio and adjustable-rate loans totaled $45.0 million, or 20.7%, of the residential loan portfolio.
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Central Bancorp Inc has a market cap of $17.1 million; its shares were traded at around $10.26 with a P/E ratio of 11.2 and P/S ratio of 0.8. The dividend yield of Central Bancorp Inc stocks is 1.9%.
Highlight of Business Operations:
The Banks lending focus is concentrated in real estate secured transactions, including residential mortgage and home equity loans, commercial mortgage loans and construction loans. For the year ended March 31, 2010, the Bank originated loans totaling $123.7 million. Of the total loans originated during fiscal 2010, $112.7 million, or 91.1%, were residential mortgage and home equity loans; $9.7 million, or 7.8% were commercial real estate loans; and $1.3 million, or 1.1% were construction, commercial and industrial, and other loans. During the years ended March 31, 2010 and 2009, the Bank sold $39.9 million and $11.0 million, respectively, of residential mortgage loan originations. The sale of loans in the secondary market allows the Bank to continue to make loans during periods when savings deposit flows decline or funds are not otherwise available for lending purposes and to manage interest rate risk.The Banks loan portfolio increased by $840 thousand, or 0.2%, to $461.5 million at March 31, 2010 from $460.7 million at March 31, 2009. The increase was primarily due to increases in the residential real estate portfolio, partially offset by decreases in the commercial real estate and construction loan portfolios. During fiscal 2009 and 2010, management de-emphasized commercial real estate and construction lending as a result of the current market environment. Commercial and industrial loans decreased primarily due to the repayment of such loans. During fiscal 2009 and 2010, management focused on increasing the residential real estate portfolios as these loans generally have less risk compared to commercial and construction lending.
Residential Lending. Residential mortgage loans at March 31, 2010 totaled $217.1 million, or 47.0%, of the total loan portfolio. Fixed-rate residential mortgages totaled $172.1 million, or 79.3%, of the residential loan portfolio and adjustable-rate loans totaled $45.0 million, or 20.7%, of the residential loan portfolio.
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