BELMONT, Mass., Oct. 11, 2017 /PRNewswire/ -- BSB Bancorp, Inc.
(NASDAQ: BLMT) (the "Company"), the holding company for Belmont
Savings Bank (the "Bank"), a state-chartered savings bank
headquartered in Belmont,
Massachusetts, today announced that it was ranked 41st on
Fortune Magazine's 100 Fastest Growing Companies List in 2017. The
top 100 performers were ranked according to growth in revenues,
profits, and stock returns over a three-year period and were chosen
from over 3000 companies listed on U.S. exchanges.
This year, only five Massachusetts companies were named to Fortune
magazine's 100 fastest-growing companies list. Belmont Savings was
the sole bank from New England to receive this recognition. It is
one of only seven savings banks included in this highly selective
list.
"It is an honor to be recognized by Fortune as one of the
nation's 100 fastest-growing companies," said Bob Mahoney, president and CEO of Belmont
Savings Bank. "Being featured on this list alongside companies like
Facebook and Amazon validates the ongoing success of our
growth-driven strategy, which continues to serve our customers,
shareholders and community with distinction."
The recognition from Fortune follows Belmont Savings' recent
inclusion as one of Sandler O'Neill Sm-All Stars, which identifies
outstanding annual performance for small-cap banks and thrifts in
the United States. The Sandler
O'Neill Sm-All Stars Class of 2017 consists of only 29 institutions
out of a universe of 404 publicly traded banks and thrifts with a
market cap below $2.5 billion.
Belmont Savings was included as the only Massachusetts bank to earn this recognition in
the Class of 2017.
A more detailed description of Fortune Magazine's methodology is
provided below.
Fortune Magazine's List Methodology
To be considered, a company—domestic or foreign—must be traded
on a major U.S. stock exchange; report data in U.S. dollars; file
quarterly reports with the SEC; have a minimum market
capitalization of $250 million; and
have been trading continuously since June
30, 2014. Companies must have posted an annualized growth in
revenue and earnings per share of at least 15% annually over the
three years. Companies that meet these criteria are ranked by
revenue growth rate, EPS growth rate, and three-year annualized
total return for the period ended June 30,
2017.
About Fortune Magazine
Fortune is a global leader in business journalism with major
franchises including the Fortune 500 and the Fortune 100 Best
Companies to Work For. Fortune Live Media extends the brand's
mission into live settings, hosting a wide range of annual
conferences, including the Fortune Global Forum.
Company Profile
BSB Bancorp, Inc. is headquartered in Belmont, Massachusetts and is the holding
company for Belmont Savings Bank. The Bank provides financial
services to individuals, families, municipalities and businesses
through its six full-service branch offices located in Belmont, Watertown, Cambridge, Newton and Waltham in Southeast
Middlesex County, Massachusetts. The Bank's primary lending
market includes Essex,
Middlesex, Norfolk and Suffolk Counties, Massachusetts. The Company's common stock is
traded on the NASDAQ Capital Market under the symbol "BLMT." For
more information, visit the Company's website at
www.belmontsavings.com.
Contact:
Andy Hoglund
ahoglund@rasky.com
617.391.9644
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SOURCE BSB Bancorp, Inc.