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Randolph Bancorp, Inc. (RNDB) reported a strong Q4 2020 net income of $5.3 million ($1.03 per share), up from $0.8 million in Q4 2019. For the full year, net income rose to $19.9 million ($3.89 per share) from $3.4 million in 2019. Excluding one-time charges, adjusted earnings hit $5.6 million for Q4 and $21.5 million for the year. Total assets were $721.1 million, reflecting a 14.3% increase year-over-year, driven by deposit growth. Non-interest income surged 155.9% to $15.6 million in Q4, primarily from loan originations.
Randolph Bancorp, Inc. (RNDB) reported net income of $10.3 million for Q3 2020, improving from $1.1 million in Q3 2019, translating to earnings of $2.01 per share. For the first nine months, net income reached $14.7 million, up from $2.6 million year-over-year. Excluding one-time charges, adjusted earnings amounted to $16.3 million. The company approved a share repurchase program for up to 552,000 shares. Total assets were $723.0 million, with strong growth in non-brokered deposits driven by government stimulus and SBA PPP loans.
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