Bristol County posts<br> $9.9M net profit

AT THE ANNUAL MEETING of Beacon Bancorp, parent of Bristol County Savings Bank, on March 11 are, left to right, Dennis M. Cody, chairman of Bristol County Savings Bank; newly elected Beacon Bancorp trustee Joseph J. Nauman, executive vice president for the Acushnet Company; and Patrick J. Murray Jr., president and CEO of BCSB. / COURTESY BOB BARTLETT
AT THE ANNUAL MEETING of Beacon Bancorp, parent of Bristol County Savings Bank, on March 11 are, left to right, Dennis M. Cody, chairman of Bristol County Savings Bank; newly elected Beacon Bancorp trustee Joseph J. Nauman, executive vice president for the Acushnet Company; and Patrick J. Murray Jr., president and CEO of BCSB. / COURTESY BOB BARTLETT

TAUNTON – Bristol County Savings Bank posted a net income of $9.9 million year-end 2013, an increase of 4.8 percent over the previous year, Chairman Dennis M. Cody said at the annual meeting of Beacon Bancorp, parent company of the bank, in March.
BCSB’s total equity capital ratio stands at 14.9 percent, its highest level since 2007, according to an April 2 press release from the bank.
“The bank’s success is directly attributable to our long-time focus on smart growth strategies,” said President and CEO Patrick J. Murray Jr.
“With $1.5 billion in total assets we are now the 27th largest bank out of a total of 153 banks headquartered in the Commonwealth of Massachusetts, and the largest headquartered in Bristol County,” said Murray
Net loans outstanding surpassed the $1 billion mark, with an increase of $105.9 million in net loan Bank provided more than $465 million in new loans and advances to existing lines of credit, ending the year with $1.1 billion in total loans outstanding.

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