July 24, 2008
Ben Franklin Bank Posts Quarterly Gain
By Matthew L. Brown
Benjamin Franklin Bancorp Inc., parent of Benjamin Franklin Bank, reported second quarter net income of $1.2 million compared to net income of $829,000 in the same quarter a year ago.
For the six months ended June 30, the bank reported net income of $2.3 million compared to $1.4 million for the first half of 2007. The bank currently claims $654.9 million in deposits.
The bank said the income growth came despite a 9.8 percent decline in construction loans.
The bank reported total assets of $63.8 million for the first half of the year, a 7.1 percent increase over the same period a year ago.
The bank has 11 branches in Franklin, Bellingham, Foxborough, Medfield, Milford, Newtonville, Waltham, Watertown and Wellesley.
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