EverTrust reports $1 million profit in recent quarter

Herald staff

EVERETT — The parent company for Everett Mutual Bank reported Tuesday that it made a $1 million profit during the quarter that ended Sept. 30.

For EverTrust Financial Group Inc., which went public just last fall, that amounted to earnings of 13 cents share.

Earnings would have been higher, but the company allocated $600,000 for a management recognition plan. Without that, earnings would have been 20 cents per share, the company reported.

The company also reported that board members have approved a dividend of 9 cents per share payable Nov. 28 to shareholders of record on Nov. 14. In addition to the bank, the company owns Pro Inc., an item processing company, and Mutual Bancshares Capital Inc., a venture capital company.

New Internet ticket site: An Internet start-up backed by six major airlines launched a cheap-seat service Tuesday that promises to undercut the prices of other online discounters who helped put the concept on the map. San Francisco-based Hotwire.com believes it will be able to beat the airline ticket prices of other popular online services such as Priceline.com and Expedia.com by tapping into a vast reservoir of unsold seats. An estimated 3.5 million airline seats are unoccupied each week. The airline industry’s two biggest carriers, American Airlines and United Airlines, are backing Hotwire in addition to Northwest Airlines, Continental Airlines, US Airways and America West Airlines.

Tuesday’s prices: Gold sold for $271.45 a troy ounce, silver sold for $4.835 and platinum sold for $601.50.