News Article | July 20, 2017
Robert M. Mahoney, President and Chief Executive Officer, said, "Strong loan demand, good fee income, expense control and credit quality combined to produce very solid quarterly results." Net interest and dividend income before provision for loan losses for the quarter ended June 30, 2017 was $13.95 million as compared to $11.71 million for the quarter ended June 30, 2016 or a 19.1% increase. The provision for loan losses for the quarter ended June 30, 2017 was $707,000 as compared to $741,000 for the quarter ended June 30, 2016 or a 4.6% decrease. This resulted in an increase of $2.28 million or 20.7% in net interest and dividend income after provision for loan losses for the quarter ended June 30, 2017 as compared to the quarter ended June 30, 2016. Net interest and dividend income before provision for loan losses for the six months ended June 30, 2017 was $27.21 million as compared to $22.99 million for the six months ended June 30, 2016 or an 18.4% increase. The provision for loan losses for the six months ended June 30, 2017 was $1.54 million as compared to $1.34 million for the six months ended June 30, 2016 or a 14.6% increase. This resulted in an increase of $4.02 million or 18.6% in net interest and dividend income after provision for loan losses for the six months ended June 30, 2017 as compared to the six months ended June 30, 2016. Noninterest income for the quarter ended June 30, 2017 was $995,000 as compared to $705,000 for the quarter ended June 30, 2016 or an increase of 41.1%. Noninterest income for the six months ended June 30, 2017 was $1.63 million as compared to $1.37 million for the six months ended June 30, 2016 or an increase of 18.9%. Noninterest expense for the quarter ended June 30, 2017 was $7.65 million as compared to $6.98 million for the quarter ended June 30, 2016 or an increase of 9.5%. Noninterest expense for the six months ended June 30, 2017 was $15.12 million as compared to $14.24 million for the six months ended June 30, 2016 or an increase of 6.2%. Our efficiency ratio improved to 51.2% for the quarter ended June 30, 2017 from 56.3% for the quarter ended June 30, 2016 and to 52.4% for the six months ended June 30, 2017 from 58.5% for the six months ended June 30, 2016 as we continue to grow the balance sheet and manage costs. A talented and committed colleague team along with continued operational enhancements have contributed to the improvement in our efficiency ratio. We recorded a provision for income taxes of $2.60 million for the quarter ended June 30, 2017, compared to a provision for income taxes of $1.74 million for the quarter ended June 30, 2016, reflecting effective tax rates of 39.1% and 37.0%, respectively. We recorded a provision for income taxes of $4.50 million for the six months ended June 30, 2017, compared to a provision for income taxes of $3.29 million for the six months ended June 30, 2016, reflecting effective tax rates of 37.0% and 37.4%, respectively. At June 30, 2017, total assets were $2.37 billion, an increase of $212.18 million or 9.8% from $2.16 billion at December 31, 2016. The Company experienced net loan growth of $201.55 million or 10.8% from December 31, 2016 to June 30, 2017. 1-4 family residential real estate loans and commercial real estate loans increased by $162.27 million and $66.98 million, respectively. Partially offsetting these increases was a decrease in indirect auto loans of $17.29 million, driven by the suspension of new originations due to current market conditions. The asset growth was primarily funded by growth in deposits and federal home loan bank advances. At June 30, 2017, deposits totaled $1.61 billion, an increase of $141.39 million or 9.6% from $1.47 billion at December 31, 2016. Core deposits, which we consider to include all deposits other than CDs, increased by $62.93 million from $1.13 billion at December 31, 2016 to $1.20 billion at June 30, 2017. Hal R. Tovin, Executive Vice President and Chief Operating Officer, said "Our competitive retail product offerings, the ongoing commitment to our targeted business segment strategy and our focus on commercial relationship expansion have contributed to our strong deposit growth." Total stockholders' equity increased by $8.90 million from $160.92 million as of December 31, 2016 to $169.83 million as of June 30, 2017. This increase is primarily the result of earnings of $7.68 million and a $1.08 million increase in additional paid-in capital related to stock-based compensation. Asset quality remains strong. The allowance for loan losses in total and as a percentage of total loans as of June 30, 2017 was $15.09 million and 0.73%, respectively, as compared to $13.59 million and 0.73%, respectively, as of December 31, 2016. For the six months ended June 30, 2017, the Company recorded net charge offs of $32,000, as compared to net charge offs of $37,000 for the six months ended June 30, 2016. Total non-performing assets were $1.70 million or 0.07% of total assets as of June 30, 2017 as compared to $1.82 million or 0.08% of total assets as of December 31, 2016. BSB Bancorp, Inc. is headquartered in Belmont, Massachusetts and is the holding company for Belmont Savings Bank. The Bank provides financial services to individuals, families, municipalities and businesses through its six full-service branch offices located in Belmont, Watertown, Cambridge, Newton and Waltham in Southeast Middlesex County, Massachusetts. The Bank's primary lending market includes Essex, Middlesex, Norfolk and Suffolk Counties, Massachusetts. The Company's common stock is traded on the NASDAQ Capital Market under the symbol "BLMT." For more information, visit the Company's website at www.belmontsavings.com. Certain statements herein constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on the beliefs and expectations of management, as well as the assumptions made using information currently available to management. Since these statements reflect the views of management concerning future events, these statements involve risks, uncertainties and assumptions. As a result, actual results may differ from those contemplated by these statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could" or "may." Certain factors that could cause actual results to differ materially from expected results include changes in the interest rate environment, changes in general economic conditions, our ability to continue to increase loans and deposit growth, legislative and regulatory changes that adversely affect the businesses in which the Company is engaged, changes in the securities market, and other factors that are described in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking statements, whether in response to new information, future events or otherwise, except as may be required by law.
Bostrom P.,Dana-Farber Cancer Institute |
Wu J.,Dana-Farber Cancer Institute |
Jedrychowski M.P.,Harvard University |
Korde A.,Dana-Farber Cancer Institute |
And 14 more authors.
Nature | Year: 2012
Exercise benefits a variety of organ systems in mammals, and some of the best-recognized effects of exercise on muscle are mediated by the transcriptional co-activator PPAR-γ co-activator-1 α (PGC1-α). Here we show in mouse that PGC1-α expression in muscle stimulates an increase in expression of FNDC5, a membrane protein that is cleaved and secreted as a newly identified hormone, irisin. Irisin acts on white adipose cells in culture and in vivo to stimulate UCP1 expression and a broad program of brown-fat-like development. Irisin is induced with exercise in mice and humans, and mildly increased irisin levels in the blood cause an increase in energy expenditure in mice with no changes in movement or food intake. This results in improvements in obesity and glucose homeostasis. Irisin could be therapeutic for human metabolic disease and other disorders that are improved with exercise. © 2012 Macmillan Publishers Limited. All rights reserved.
Wu J.,Dana-Farber Cancer Institute |
Bostrom P.,Dana-Farber Cancer Institute |
Sparks L.M.,Maastricht University |
Ye L.,Dana-Farber Cancer Institute |
And 13 more authors.
Cell | Year: 2012
Brown fat generates heat via the mitochondrial uncoupling protein UCP1, defending against hypothermia and obesity. Recent data suggest that there are two distinct types of brown fat: classical brown fat derived from a myf-5 cellular lineage and UCP1-positive cells that emerge in white fat from a non-myf-5 lineage. Here, we report the isolation of "beige" cells from murine white fat depots. Beige cells resemble white fat cells in having extremely low basal expression of UCP1, but, like classical brown fat, they respond to cyclic AMP stimulation with high UCP1 expression and respiration rates. Beige cells have a gene expression pattern distinct from either white or brown fat and are preferentially sensitive to the polypeptide hormone irisin. Finally, we provide evidence that previously identified brown fat deposits in adult humans are composed of beige adipocytes. These data provide a foundation for studying this mammalian cell type with therapeutic potential. © 2012 Elsevier Inc.
Rathman T.,T Links Consulting |
Schwindeman J.A.,Belmont Inc.
Organic Process Research and Development | Year: 2014
This review includes the preparation and properties of various organolithiums, which are commercially available, up to manufacturing scale. The interdependent properties, such as pyrophoricity, solubility, stability, and aggregation, are tabulated and discussed. These properties have a direct bearing on their chemical reactivity and requirements for safe handling and storage. Extensive guidance for storage, use, analysis, and disposal of these organolithium solutions is also provided. © 2014 American Chemical Society.
Parkin N.T.,Belmont Inc.
AIDS Reviews | Year: 2014
World Health Organization-recommended surveys of acquired HIV-1 drug resistance include assessment of HIV-1 viral load suppression to levels below 1,000 copies/ml and drug resistance-associated mutation patterns in subjects on antiretroviral therapy. Surveys are being conducted in regions of the world that cannot support the collection, storage, and shipping of frozen plasma. Therefore, dried blood spots are often the specimen type of choice for both genotyping and viral load measurement. Furthermore, viral load testing for individual patient management in these regions is being scaled-up in accordance with WHO 2013 Guidelines for Antiretroviral Treatment. Technical issues related to the adaptation of viral load assays to dried blood spots, especially with respect to sensitivity (limit of detection), specificity (cell-free RNA vs. cell-associated DNA or RNA), and assay method, affect the interpretation of a viral load result from dried blood spots. Amongst published studies of commercial assay performance with dried blood spots, the bioMérieux EasyQ® and Abbott Real Time assays tended to show high (> 90%) specificity and sensitivity; the Biocentric Generic or Roche TaqMan® assays tended to show high sensitivity but lower specificity, using a 1,000 copies/ml threshold. The relative contribution of cell-associated DNA or RNA to a viral load measurement is likely to vary between patients, depending on clinical parameters and treatment status. A model was developed that predicts that in patients on antiretroviral therapy with low plasma viral load, cellular DNA is the predominant source of non-plasma virus-derived nucleic acid in dried blood spots. The extent of viral load overestimation from dried blood spots becomes less important when plasma viral load is over about 5,000 copies/ml. To avoid misclassifying subjects with plasma viral load suppression, the World Health Organization-recommended threshold of 1,000 copies/ml can be applied only when an assay that can distinguish between DNA and RNA is used (e.g. bioMérieux EasyQ® or Abbott RealTime). There is a need for additional affordable technologies with the ability to discriminate between cell-free (plasma) and cell-associated nucleic acids.
Darnall D.,Belmont Inc.
Child and Adolescent Psychiatric Clinics of North America | Year: 2011
Parental alienation occurs in divorces when one parent indoctrinates the child to dislike, fear, and avoid contact with the other parent. Mental health professionals who treat children and adolescents are likely to encounter victims of parental alienation in clinical practice, and it is important to identify and treat these youngsters earlier, when the condition is mild, rather than later, when the parental alienation is almost intractable. This article presents an overview of the treatment of parental alienation, which is called reunification therapy. All the parties involved in the case have a role in the prevention and treatment of parental alienation. © 2011 Elsevier Inc.
Belmont Inc. | Date: 2016-01-05
furniture designed and adapted for use by the hospitality industry and sold in lots to professional buyers and purchasing agents. wholesale, online and catalog store services in the field of furniture designed and adapted for use by the hospitality industry and sold in lots to professional buyers and purchasing agents.
Belmont Inc. | Date: 2016-04-29
News Article | October 6, 2016
BELMONT, N.C., Oct. 6, 2016 (GLOBE NEWSWIRE) -- The sound of gratitude rang out from the heart of Belmont Abbey College's campus at noon today during the dedication and blessing of its new Gratitude Bell. The dedication event drew a large crowd of students, faculty, staff, monks and visitors. The idea behind the Gratitude Bell is simple. When anyone rings the bell in gratitude for one of God's blessings, the sound will echo across campus causing others on campus to reflect on the blessings in their lives. "Every breath that you take, every beat of your heart is a gift from God. Too often we dwell on what we don't have, rather than focusing on the infinite gifts God has given us. The Gratitude Bell is a way of showing our thankfulness for all the many blessings, big and small, in our lives," said Dr. Bill Thierfelder president of the college. "Each day between noon and 3 p.m., anyone is invited to strike the bell in thanksgiving for some blessing in his or her life. It is our hope that this will become a long standing tradition that will strengthen our students, faculty, staff, alumni, monks and visitors in the virtue of gratitude." Generous donors purchased the bell, originally forged by the McShane Foundry Company of Baltimore, Maryland in 1915 with the inscription "Holy Name" on its side. Located near the campus cafeteria on the residential side of the Belmont Abbey College campus, students will gather at noon to pray the Angelus and officially open the hours of gratitude from noon to 3pm each day. Ranked in the top 10 in the south by U.S. News & World Report, Belmont Abbey College has its roots in the Catholic Benedictine tradition, and the essence of gratitude already permeates the small private college that began humbly in 1876 with a few students and a few monks, and now has grown to more than 1500 students from across the country and around the globe. "We encourage other colleges, churches and institutions across the country to join us in fostering the virtue of gratitude within their communities," said Abbot Placid, chancellor of Belmont Abbey College. "Our hope is that our initiative focused on gratitude can influence a broader campaign that impacts the national demeanor in a positive way." Belmont Abbey College is a private, Catholic, liberal arts institution founded by Benedictine monks in 1876. Our mission is to educate students in the liberal arts and sciences so that in all things God may be glorified. Guided by the Catholic intellectual tradition and the Benedictine spirit of prayer and learning, we welcome a diverse body of students and provide them with an education that will enable them to lead lives of integrity, to succeed professionally, to become responsible citizens, and to be a blessing to themselves and to others. Our beautiful and historic campus is conveniently located just 10 miles west of Charlotte, N.C., and is currently home to more than 1500 students. For more information, visit www.belmontabbeycollege.edu or www.abbeyathletics.com. Photos accompanying this release are available at: http://www.globenewswire.com/newsroom/prs/?pkgid=41612 http://www.globenewswire.com/newsroom/prs/?pkgid=41613