BERNARDSVILLE, N.J., July 25, 2008 (PRIME NEWSWIRE) -- Somerset Hills Bancorp (Nasdaq:SOMH) reported net income for the quarter and six months ended June 30, 2008. For the quarter ended June 30, 2008, net income was $367,000, or $0.07 per diluted share compared to $0.10 per diluted share during the second quarter 2007. For the six months ended June 30, 2008, net income was $811,000, or $0.15 per diluted share compared to $0.19 per diluted share for the six months ending June 30, 2007. The Company's net interest income increased in both the quarterly and six month periods, to $2.7 million in the current quarter and $5.3 million for the first six months of 2008. These increases were offset by declines in non-interest income and increased non-interest expense and an increase in the provision for loan losses. The increase in the...
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