BOSTON - Boston Five Bancorp Inc. and Boston Bancorp reported improved earnings for the quarter that ended April 30.
Both companies, which are unrelated, reported reduced nonperforming loans, flat or lower loss provisions, and increased net interest income.
Boston Five, a $1.7 billion-asset thrift that has agreed to be acquired by Citizens Financial Group of Providence, R.I., earned $722,000, or 10 cents a share, after losing $1.8 million, or 26 cents, a year earlier.
Boston Bancorp, the $2.2 billion-asset holding company of South Boston Savings Bank, earned $11 million in the quarter, or $1.76 a share, and $18.2 million, or $2.89, for the six months.
