RIVERHEAD, N.Y. -- Suffolk Bancorp reported third-quarter earnings of $2.6 million, up 26.6% from $2.1 million in the corresponding period last year.
The 1993 results also included a one-time gain of $335,000 from a property sale.
For the first nine months, the $791.5 million-asset company earned $6.1 million, down 4.6% from the $6.4 million earned in the corresponding period last year.
The bank had a return on assets of 1.32% and a return on equity of 13.97%.
Nonperforming assets, which rose sharply with the acquisition of Hamptons Bancshares in April, are down to $9 million, or 1.1% of all assets, from $11.7 million, or 1.5% of all assets, at the end of the second quarter of 1994.
Suffolk is the holding Company for the Suffolk County National Bank, with 21 offices on eastern Long Island, and the Island Computer Corp. of New York Inc., in Bohemia, N.Y.
ACTON, Mass. -- Co-operative Bank of Concord earned $2 million in the third quarter, up 1.4% from $1.7 million in the third quarter of 1993.
Nine-month earnings were down 25.7% to $5.5 million from $7.4 million last year. The bank recorded a $2 million credit in 1993 because of new accounting rules dealing with income taxes and $850,000 from an unearned discount due to loans from the 1987 acquisition of Quincy Cooperative Bank.
The $781 million-asset bank's return on assets at Sept. 30, 1994 was 1.03% and return on equity was 13.04%.
Concord raised its quarterly cash dividend 25% to 10 cents, payable Nov. 15 to shareholders of record Nov. 1.
Concord is a state-chartered bank with 16 branches in three Massachusetts counties.
