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Westbury Bancorp, Inc. (WBBW)

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26.83-0.02 (-0.07%)
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Previous Close26.85
Open26.83
Bid0.00 x 0
Ask0.00 x 0
Day's Range26.83 - 26.83
52 Week Range17.97 - 28.10
Volume785
Avg. Volume1,115
Market Cap74.479M
Beta (5Y Monthly)N/A
PE Ratio (TTM)12.84
EPS (TTM)2.09
Earnings DateJan 20, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • GlobeNewswire

    Westbury Bancorp, Inc. Announces Results of Annual Meeting

    WEST BEND, Wis., Feb. 22, 2021 (GLOBE NEWSWIRE) -- On February 16, 2021, Westbury Bancorp, Inc. (the “Company”) held its 2021 Annual Meeting of Stockholders for the purpose of electing directors and ratifying the appointment of its independent public accounting firm. Donald Murn and Stephen Sinner were nominated for re-election by the Board of Directors and at the Annual Meeting each was elected to the Board for a three year term expiring at the 2024 Annual Meeting of Stockholders. The terms of the following directors continued after the 2021 Annual Meeting of Stockholders: each of Justin Herman and David Jorgensen (until the 2022 Annual Meeting of Stockholders) and, Greg Remus, (until the 2023 Annual Meeting of Stockholders). Ratification of the appointment of CliftonLarsonAllen LLP by the Company's Audit Committee as the Company's independent auditors for the fiscal year ending September 30, 2021 required the affirmative vote of a majority of the votes cast on the matter with respect to the 2021 Annual Meeting of Stockholders. The stockholders voted to ratify the appointment of CliftonLarsonAllen LLP as the Company's independent auditors for the fiscal year ending September 30, 2021. About Westbury Bancorp, Inc. Westbury Bancorp, Inc. is the holding company for Westbury Bank. The Company's common shares are traded on OTCQX under the symbol “WBBW”. Westbury Bank is an independent community bank serving communities in Washington and Waukesha through its eight full service offices providing deposit and loan services to individuals, professionals and businesses throughout its markets. Contact: Kirk Emerich - Executive Vice President and CFOGreg Remus - President and CEO262-335-6037

  • GlobeNewswire

    Westbury Bancorp, Inc. Reports Net Income for the Three Months Ended December 31, 2020

    WEST BEND, Wis., Jan. 20, 2021 (GLOBE NEWSWIRE) -- Westbury Bancorp, Inc. (OTCQX: WBBW), the holding company (the “Company”) for Westbury Bank (the “Bank”), today announced net income of $2.7 million, or $1.06 per common share for the three months ended December 31, 2020 compared to net income of $1.8 million, or $0.58 per common share for the three months ended December 31, 2019. About Westbury Bancorp, Inc. Westbury Bancorp, Inc. is the holding company for Westbury Bank. The Company's common shares are traded on OTCQX under the symbol “WBBW”. Detailed quarterly financial statements for the Company may be found at www.otcmarkets.com/stock/WBBW/disclosure. Westbury Bank is an independent community bank primarily serving communities in Washington and Waukesha Counties through its eight full service offices providing deposit and loan services to individuals, professionals and businesses throughout its markets. Forward-Looking Information Information contained in this press release, other than historical information, may be considered forward-looking in nature and is subject to various risks, uncertainties, and assumptions. Such forward-looking statements in this release are inherently subject to many uncertainties arising in the Company's operations and business environment. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations. Certain tabular presentations may not reconcile because of rounding. WEBSITE: www.westburybankwi.com Contact: Kirk Emerich - Executive Vice President and CFOGreg Remus - President and CEO262-335-6037 At or For the Three Months Ended: December 31, 2020September 30, 2020June 30, 2020March 31, 2020December 31, 2019Selected Financial Condition Data:(Dollars in thousands)Total assets$906,344 $887,285 $905,170 $817,754 $833,328 Loans receivable, net653,485 692,391 680,130 642,790 663,265 Allowance for loan losses8,486 7,908 7,632 7,079 6,986 Securities available for sale106,201 94,875 91,598 87,088 100,296 Total liabilities824,873 808,430 827,847 737,936 748,798 Deposits805,085 776,412 787,825 706,889 720,060 Stockholders' equity81,471 78,855 77,323 79,818 84,530 Asset Quality Ratios: Non-performing assets to total assets1.35%1.33%1.31%1.39%1.09%Non-performing loans to total loans1.34%1.25%1.28%1.29%1.36%Total classified assets to total assets1.43%1.54%1.31%1.39%1.10%Allowance for loan losses to non-performing loans95.99%90.15%86.55%84.69%76.84%Allowance for loan losses to total loans1.28%1.13%1.11%1.09%1.04%Net charge-offs (recoveries) to average loans - annualized(0.02%)0.16%—%—%(0.02%) Capital Ratios: Average equity to average assets9.02%8.75%9.08%10.18%9.96%Equity to total assets at end of period8.99%8.89%8.54%9.76%10.14%Total capital to risk-weighted assets (Bank only)13.41%12.98%12.82%12.71%12.47%Tier 1 capital to risk-weighted assets (Bank only)12.17%11.83%11.70%11.67%11.49%Tier 1 capital to average assets (Bank only)9.40%9.03%9.00%9.65%9.68%CET1 capital to risk-weighted assets (Bank only)12.17%11.83%11.70%11.67%11.49% Three Months Ended: December 31, 2020 December 31, 2019Selected Operating Data:(in thousands, except per share data)Interest and dividend income$7,846 $7,848 Interest expense526 1,529 Net interest income7,320 6,319 Provision for loan losses550 60 Net interest income after provision for loan losses6,770 6,259 Service fees on deposit accounts891 967 Gain on sale of loans1,249 365 Other non-interest income715 362 Total non-interest income2,855 1,694 Compensation and other employee benefits3,025 3,224 Occupancy, furniture and equipment591 533 Data processing763 789 Other non-interest expense1,531 844 Total non-interest expense5,910 5,390 Income before income tax expense3,715 2,563 Income tax expense1,014 726 Net income$2,701 $1,837 Basic earnings per share$1.06 $0.58 Diluted earnings per share$1.03 $0.56 For the Three Months Ended: December 31, 2020September 30, 2020June 30, 2020March 31, 2020December 31, 2019Selected Operating Data:(in thousands, except per share data)Interest and dividend income$7,846 $7,226 $7,334 $7,692 $7,848 Interest expense526 778 940 1,303 1,529 Net interest income7,320 6,448 6,394 6,389 6,319 Provision for loan losses550 574 551 90 60 Net interest income after provision for loan losses6,770 5,874 5,843 6,299 6,259 Service fees on deposit accounts891 910 747 847 967 Gain on sale of loans1,249 1,087 766 419 365 Other non-interest income715 598 417 465 362 Total non-interest income2,855 2,595 1,930 1,731 1,694 Compensation and other employee benefits3,025 3,141 3,051 3,144 3,224 Occupancy, furniture and equipment591 596 606 670 533 Data processing763 787 758 795 789 Other non-interest expense1,531 1,275 1,076 909 844 Total non-interest expense5,910 5,799 5,491 5,518 5,390 Income before income tax expense3,715 2,670 2,282 2,512 2,563 Income tax expense1,014 738 633 714 726 Net income$2,701 $1,932 $1,649 $1,798 $1,837 Basic earnings per share$1.06 $0.76 $0.58 $0.58 $0.58 Diluted earnings per share$1.03 $0.75 $0.57 $0.56 $0.56 At or For the Three Months Ended: December 31, 2020 December 31, 2019Selected Financial Performance Ratios: Return on average assets1.20% 0.86%Return on average equity13.27% 8.65%Interest rate spread3.49% 3.12%Net interest margin3.50% 3.16%Non-interest expense to average total assets2.62% 2.53%Average interest-earning assets to average interest-bearing liabilities106.05% 106.70% Per Share and Stock Market Data: Net income per common share$1.06 $0.58 Basic weighted average shares outstanding2,545,899 3,164,690 Book value per share - excluding unallocated ESOP shares$30.69 $26.69 Book value per share - including unallocated ESOP shares$29.54 $25.35 Closing market price$24.01 $28.50 Price to book ratio - excluding unallocated ESOP shares78.23% 106.78%Price to book ratio - including unallocated ESOP shares81.28% 112.43%

  • Westbury Bancorp, Inc. Reports Net Income for the Three Months and Year Ended September 30, 2020
    GlobeNewswire

    Westbury Bancorp, Inc. Reports Net Income for the Three Months and Year Ended September 30, 2020

    WEST BEND, Wis., Oct. 30, 2020 (GLOBE NEWSWIRE) -- Westbury Bancorp, Inc. (OTCQX: WBBW), the holding company (the “Company”) for Westbury Bank (the “Bank”), today announced net income of $1.9 million, or $0.76 per common share for the three months ended September 30, 2020, and $7.2 million, or $2.59 per common share, for the year ended September 30, 2020, compared to net income of $1.9 million, or $0.59 per common share for the three months ended September 30, 2019, and net income of $6.9 million, or $2.15 per common share, for the year ended September 30, 2019.  Highlights for the year included: * During the year ended September 30, 2020, our net loan portfolio increased by $31.7 million, or 3.70%. The portfolio increase occurred primarily in commercial business - PPP loans, multifamily and home equity line of credit loans, offset by reductions in commercial and industrial loans, and single family loans.  * During the year ended September 30, 2020, our deposits increased by $47.7 million, or 6.55%.  The deposit increases occurred primarily in checking and savings accounts, offset by decreases in certificate of deposit accounts.  * Net interest income decreased $133,000, or 0.52%, to $25.6 million for the year ended September 30, 2020 compared to $25.7 million for the year ended September 30, 2019.  Our net interest margin was 3.14% for the year ended September 30, 2020 compared to 3.24% for the year ended September 30, 2019.  * Non-performing assets increased to $11.8 million or 1.33% of total assets, at September 30, 2020, compared to $764,000, or 0.09% of total assets, at September 30, 2019.  The increase was the result of a large commercial real estate loan being placed into receivership during the year.  This relationship had been previously classified at September 30, 2019. * Classified assets increased to $13.6 million or 1.53% of total assets, at September 30, 2020, compared to $9.2 million, or 1.07% of total assets, at September 30, 2019.  The increase was the result of one newly classified commercial and industrial loan relationship at September 30, 2020. * Loans past due 30-89 days increased $157,000, or 174.44%, to $247,000, or 0.01% of net loans, at September 30, 2020 from $90,000, or 0.01% of net loans, at September 30, 2019. * As of September 30, 2020, the Bank's COVID-19-related loan modifications totaled $27.9 million compared to $109.4 million as of June 30, 2020. * Net charge-offs were 0.04% of average loans for the year ended September 30, 2020, compared to net charge-offs of 0.01% of average loans for the year ended September 30, 2019. * The allowance for loan losses was 1.13% of total loans (or 1.25% of total loans excluding PPP loans) as of September 30, 2020 compared to 1.06% at September 30, 2019.  The ratio of allowance to total loans increased as the allowance increased while the loan portfolio decreased in size (excluding PPP loans). * Non-interest income was $8.0 million for the year ended September 30, 2020, compared to $6.3 million for the year ended September 30, 2019.  The increase was primarily the result of increases in gain on sale of loans of $1.8 million. * Non-interest expense was $22.2 million for the year ended September 30, 2020, compared to $21.6 million for the year ended September 30, 2019.  * We have been an active buyer of our stock since the implementation of our first stock repurchase program in May 2014.  For the year ended September 30, 2020, we purchased 583,101 shares.  In total, since we began our stock repurchase programs in May 2014, we have repurchased 2,656,415 shares, or 51.66% of the shares outstanding in May 2014.  * Our stock repurchase activity has reduced our average equity to average assets ratio to 8.75% at September 30, 2020 from 16.65% at March 31, 2014, the last quarter end before we began our first stock repurchase program.  Additionally, our tangible book value per share increased by $3.76, or 15.2%, to $28.44 at September 30, 2020 from $24.68 at September 30, 2019.  Based on our closing share price of $19.50 on September 30, 2020, our price to tangible book value was 68.57% compared to 103.73% on September 30, 2019 based on the closing share price of $25.60 at that date.About Westbury Bancorp, Inc.Westbury Bancorp, Inc. is the holding company for Westbury Bank.  The Company's common shares are traded on the OTCQX Premier Market under the symbol “WBBW”.Westbury Bank is an independent community bank serving the communities of suburban Milwaukee and Madison in Washington, Waukesha, and Dane Counties (Wisconsin) through its eight full service offices and one loan production office providing deposit and loan services to individuals, professionals and businesses throughout its markets.Forward-Looking InformationInformation contained in this press release, other than historical information, may be considered forward-looking in nature as defined by the Private Securities Litigation Reform Act of 1995 and is subject to various risks, uncertainties, and assumptions. Such forward-looking statements in this release are inherently subject to many uncertainties arising in the Company's operations and business environment.  Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the Company’s operating results, performance or financial condition are competition, the demand for the Company’s products and services, the Company's ability to maintain current deposit and loan levels at current interest rates, deteriorating credit quality, including changes in the interest rate environment reducing interest margins, changes in prepayment speeds, loan origination and sale volumes, charge-offs and loan loss provisions, the Company's ability to maintain required capital levels and adequate sources of funding and liquidity, the Company's ability to secure confidential information through the use of computer systems and telecommunications networks, and other factors as set forth in filings with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations. Certain tabular presentations may not reconcile because of rounding.___________________________________WEBSITE: www.westburybankwi.com    Contact:Kirk Emerich- Executive Vice President and CFO     Greg Remus - President and CEO     262-335-6037      At or For the Three Months Ended:  September 30, 2020June 30, 2020March 31, 2020December 31, 2019September 30, 2019 Selected Financial Condition Data:      Total assets$887,285 $905,170 $817,754 $833,328 $855,624  Loans receivable, net692,391 680,130 642,790 663,265 646,062  Allowance for loan losses7,908 7,632 7,079 6,986 6,890  Securities available for sale94,875 91,598 87,088 100,296 102,453  Total liabilities808,430 827,847 737,936 748,798 773,179  Deposits776,412 787,825 706,889 720,060 728,696  Stockholders' equity78,855 77,323 79,818 84,530 82,445         Asset Quality Ratios:      Non-performing assets to total assets1.33%1.31%1.39%1.09%0.08% Non-performing loans to total loans1.25%1.28%1.29%1.36%0.11% Total classified assets to total assets1.54%1.31%1.39%1.10%1.07% Allowance for loan losses to non-performing loans90.15%86.55%84.69%76.84%986.48% Allowance for loan losses to total loans1.13%1.11%1.09%1.04%1.06% Net charge-offs (recoveries) to average loans - annualized0.16%—%—%(0.02%)—%        Capital Ratios:      Average equity to average assets8.75%9.08%10.18%9.96%9.68% Equity to total assets at end of period8.89%8.54%9.76%10.14%9.64% Total capital to risk-weighted assets (Bank only)12.98%12.82%12.71%12.47%12.80% Tier 1 capital to risk-weighted assets (Bank only)11.83%11.70%11.67%11.49%11.80% Tier 1 capital to average assets (Bank only)9.03%9.00%9.65%9.68%9.59% CETI capital to risk-weighted assets (Bank only)11.83%11.70%11.67%11.49%11.37%                Three Months Ended Years Ended  September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019    Selected Operating Data:(in thousands, except per share data) Interest and dividend income$7,226  $8,107  $30,100  $32,377  Interest expense778  1,722  4,550  6,694  Net interest income6,448  6,385  25,550  25,683  Provision for loan losses574  100  1,275  850  Net interest income after provision for loan losses5,874  6,285  24,275  24,833  Service fees on deposit accounts910  1,051  3,472  4,021  Other non-interest income1,685  737  4,478  2,245  Total non-interest income2,595  1,788  7,950  6,266           Compensation and employee benefits3,141  3,152  12,559  12,485  Occupancy, furniture and equipment596  578  2,405  2,194  Data processing787  797  3,129  3,085  Other non-interest expense1,275  927  4,104  3,821  Total non-interest expense5,799  5,454  22,197  21,585  Income before income tax expense2,670  2,619  10,028  9,514  Income tax expense738  742  2,812  2,629  Net income$1,932  $1,877  $7,216  $6,885           Basic earnings per share$0.76  $0.59  $2.59  $2.15  Diluted earnings per share$0.75  $0.57  $2.51  $2.09                      For the Three Months Ended:  September 30, 2020June 30, 2020March 31, 2020December 31, 2019September 30, 2019 Selected Operating Data:(in thousands, except per share data) Interest and dividend income$7,226 $7,334 $7,692 $7,848 $8,107  Interest expense778 940 1,303 1,529 1,722  Net interest income6,448 6,394 6,389 6,319 6,385  Provision for loan losses574 551 90 60 100  Net interest income after provision for loan losses5,874 5,843 6,299 6,259 6,285  Service fees on deposit accounts910 747 847 967 1,051  Other non-interest income1,685 1,183 884 727 737  Total non-interest income2,595 1,930 1,731 1,694 1,788         Salaries, employee benefits, and commissions3,141 3,051 3,144 3,224 3,152  Occupancy and furniture and equipment596 606 670 533 578  Data processing787 758 795 789 797  Other non-interest expense1,275 1,076 909 844 927  Total non-interest expense5,799 5,491 5,518 5,390 5,454  Income before income tax expense2,670 2,282 2,512 2,563 2,619  Income tax expense738 633 714 726 742  Net income$1,932 $1,649 $1,798 $1,837 $1,877         Basic earnings per share$0.76 $0.58 $0.58 $0.58 $0.59  Diluted earnings per share$0.75 $0.57 $0.56 $0.56 $0.57                      At or For the Three Months EndedAt or For the Year Ended  September 30, 2020 September 30, 2019September 30, 2020 September 30, 2019 Selected Financial Performance Ratios:       Return on average assets0.86% 0.89%0.83% 0.82% Return on average equity9.80% 9.16%8.80% 8.72% Interest rate spread3.02% 3.16%3.11% 3.20% Net interest margin3.04% 3.20%3.14% 3.24% Non-interest expense to average total assets2.57% 2.58%2.57% 2.58% Average interest-earning assets to average interest-bearing liabilities106.08% 105.89%106.08% 105.89%         Per Share and Stock Market Data:       Basic earnings per share$0.76  $0.59 $2.59  $2.15  Diluted earnings per share0.75  0.57 2.51  2.09  Basic weighted average shares outstanding2,532,114  3,155,758 2,790,878  3,203,969  Book value per share - excluding unallocated ESOP shares$29.77  $26.14 $29.77  $26.14  Book value per share - including unallocated ESOP shares$28.44  $24.68 $28.44  $24.68  Closing market price$19.50  $25.60 $19.50  $25.60  Price to book ratio - excluding unallocated ESOP shares65.50% 97.93%65.50% 97.93% Price to book ratio - including unallocated ESOP shares68.57% 103.73%68.57% 103.73%