SI Financial reports higher earnings in second quarter

SI Financial reports higher earnings in second quarter

WILLIMANTIC — SI Financial Group Inc., the holding company of Savings Institute Bank and Trust Company, has reported net income of $3.4 million, or 28 cents diluted earnings per share, for the quarter ended June 30, compared with $2.8 million, or 24 cents per share, for the second quarter of 2017. This was a gain of 21 percent.

Total assets on June 30 were $1.6 billion, an increase of $14.8 million on a year-over-year basis, or 0.9 percent. Loans receivable amounted to $1.25 billion and deposits were $1.22 billion.  

On Wednesday, the board of directors declared a cash dividend of 6 cents per share, to be paid Aug. 27 to stockholders of record as of Aug. The Willimantic-based company has a market capitalization of $169 million. The stock (SIFI) closed Wednesday at $14.15 (its 52-week range was $13.75 to $15.75). SI Financial has 23 branches, including those in Pawcatuck, Westerly, and Wakefield.

Sun staff




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