Westbury Bancorp, Inc. (WBB) has reported 73.70 percent plunge in profit for the quarter ended Sep. 30, 2016. The company has earned $0.65 million, or $0.17 a share in the quarter, compared with $2.48 million, or $0.64 a share for the same period last year.

Revenue during the quarter grew 3.27 percent to $6.84 million from $6.63 million in the previous year period. Net interest income for the quarter rose 4.94 percent over the prior year period to $5.19 million. Non-interest income for the quarter rose 3.98 percent over the last year period to $1.91 million.

Westbury Bancorp, Inc. has made provision of $0.25 million for loan losses during the quarter, up 66.67 percent from $0.15 million in the same period last year.

Net interest margin contracted 11 basis points to 3.34 percent in the quarter from 3.45 percent in the last year period.

Greg Remus, president and chief executive officer, added, "We are excited to see that our strategic initiatives to grow organically at a measured pace while building strong banking relationships are leading to improved performance. We believe our new Madison commercial loan production office will contribute to these goals. We are confident that our current strategy will continue to provide revenue and earnings growth and build long-term shareholder value."

Return on average assets moved down 116 basis points to 0.37 percent in the quarter from 1.53 percent in the last year period. At the same time, return on average equity decreased 942 basis points to 3.37 percent in the quarter from 12.79 percent in the last year period.

Meanwhile, nonperforming assets to total assets was 0.09 percent in the quarter, down from 0.17 percent in the last year period.

Average equity to average assets ratio was 11.07 percent for the quarter, down from 11.98 percent for the previous year quarter.