Somerset Hills Bancorp of Bernardsville, N.J., recalled its fourth-quarter earnings report Friday, stating that its news release the day before had been "inadvertently premature."
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The $245.2 million-asset Somerset said the recalled report accurately reflected its operating earnings but may have misstated tax adjustments that have yet to be finalized.
The company said it was unclear what effect the adjustments would have on its bottom line. It said it was working with its tax advisers and that it expected to release a revised report soon.
On Thursday the parent of Somerset Hills Bank reported record earnings for the quarter ($603,000) and year ($1.66 million).
