Business Beat

07/22/2010 12:00 AM |

* Men’s retailer Jos. A. Bank has opened its first U.S. factory outlet store at Tanger Outlet Center in Riverhead.

* Suffolk Bancorp, the parent company of Suffolk County National Bank, has released its results for operations during the second quarter of 2010. Earnings-per-share were 50 cents, down from 59 cents in the same period in 2009. Net income was $4.8 million, down 16 percent from last year. Earnings-per-share for the year to date were 66 cents, compared to $1.18 during the first half of 2009, a drop of 44.1 percent. And net income for the year to date was $6.3 million, down from 11.3 million at the same time last year.

“Even in the face of considerable ambiguity about the direction of the economy, and significant regulatory uncertainty, we have been able to meet our fundamental commitment to our shareholders, which is to preserve and increase their equity,” bank president and CEO J. Gordon Huszagh said in a release. “We hope to continue to meet this commitment, but I feel that it is important to note that the current economic cycle has not either worked itself through or given clear indicators as to its direction in the future.

“Still, we will soldier on, keeping the long-term interests of our shareholders front and center, making the best of our opportunities as they present themselves.”