ROCHESTER, N.Y. -- Rochester Community Savings Bank said it earned $8 million in its second fiscal quarter, which ended May 31, triple the $2.7 million of the 1993 second quarter.
The first-half income rose 230%, to $17 million from $5.1 million. Earnings per share for the quarter rose to 43 cents from 19 cents, and for the half to 92 cents from 37 cents.
Leonard S. Simon, chairman, president, and chief executive of the $4.1 billion-asset thrift, said it is well on the way to cleaning up its balance sheet and focusing on retail banking in upstate New York.
Nonperforming assets, at $80.8 million on May 31, fell 71% from a year earlier and equaled 1.95% of total assets, down from 6.95%.
Pending are the sale of Shadow Lawn Savings Bank of New Jersey to Sovereign Bancorp. and an additional reduction of almost $40 million in nonperforming assets.
