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CONSUMER PRODUCTS & SERVICES | Appliances
juneoven.com

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Founded Year

2013

Stage

Acquired | Acquired

Total Raised

$22.5M

About June

June is the developer of the June Intelligent Oven, a smart oven that lets users cook with more precision and efficiency than ever before. June makes it easy to create delicious meals for family and friends, and will help every step of the way. The June Intelligent Oven is designed to deliver unprecedented oven performance for baking, roasting, broiling, toasting, and slow cooking. June fits easily on any countertop, yet boasts a large 1.0 cubic foot capacity.On January 12th, 2021, June was acquired by Weber. The terms of the transaction were not disclosed.

June Headquarter Location

1805 Broadway Street

San Francisco, California, 94109,

United States

Latest June News

Brunswick Bancorp Reports 2021 First Half and Second Quarter Financial Results

Jul 19, 2021

NEW BRUNSWICK, N.J.–(BUSINESS WIRE)–Brunswick Bancorp (“Brunswick” or “the Company”) (OTC: “BRBW”), the holding company for Brunswick Bank and Trust (“the Bank”), today reported its financial results for the period ended June 30, 2021. Financial Highlights for the First Half of 2021: Total assets increased 15.03% to $363.5 million from December 31, 2020; Loan portfolio increased 12.90% to $268.6 million from December 31, 2020; Deposits increased 17.55% to $273.0 million from December 31, 2020; and Net income increased 132.82% to $1.259 million compared to the same period a year ago. “By executing on our strategy to drive the top- and bottom-line, Brunswick delivered a strong performance in the first half of 2021 and set the Company up for success in the second half of the year,” said Nicholas A. Frungillo, Jr., President and Chief Executive Officer of the Company and the Bank. “We continue to realize the benefits of our marketing and business development initiatives, increased focus on commercial real estate lending and our continued participation in the Paycheck Protection Program, through which we were able to help our customers maintain jobs in our Central New Jersey marketplace. We are confident these initiatives will drive continued growth in Brunswick’s assets, loans, deposits and net income, and enhance value for our shareholders.” Financial Summary for First Half of 2021 At June 30, 2021, the Company had total assets of $363.5 million, an increase of $47.5 million or 15.03% over the December 31, 2020 total of $316.0 million. The growth was mainly driven by management’s previously implemented business development initiatives. Cash and due from banks was $28.2 million at June 30, 2021, an increase of $8.1 million or 40.04% over year-end due to quarter end fluctuations. The loan portfolio grew to $268.6 million at June 30, 2021, an increase of $30.7 million or 12.90% since December 31, 2020. Growth was primarily in loans secured by commercial real estate and the addition of $3.2 million in Paycheck Protection Program (“PPP”) loan balances during the current quarter. Securities increased to $48.4 million, up $8.0 million, or 19.80%, from the $40.4 million balance at December 31, 2020, as the Bank used excess liquidity to purchase securities to increase its yield over the fed funds rate. Deposits grew to $273.0 million at June 30, 2021, an increase of $40.8 million, or 17.55%, from December 31, 2020 as a result of management’s increased marketing efforts. FHLB borrowing increased by $5.0 million to $31.7 million at June 30, 2021 as the Bank locked in longer term borrowings at lower rates than retail deposits. The Bank also was able to enter the Federal Reserve Bank’s PPPLF program, which allows the Bank to fund its PPP loans at a cost of 35 basis points with maturities matching the maturity of the PPP loans securing the borrowing. Stockholders’ equity increased by $283 thousand to $42.6 million due to earnings retention net of the change in other comprehensive income/losses and one-time special dividend paid in February 2021. The Bank meets all criteria to be considered “Well Capitalized”. The Bank’s Net Interest Margin was 3.54% for the six months ended June 30, 2021 compared to 3.57% for the six months ended June 30, 2020. The Bank’s cost of deposits decreased to 0.68% for the six months ended June 30, 2021 from 1.58% for the comparative period in 2020. The Bank’s yield on interest earning assets decreased to 4.05% for the six months ended June 30, 2021 from 4.75% for the same period last year. Net interest income was $5.519 million for the six months ended June 30, 2021, an increase of $1.305 million, or 30.97%, from $4.214 million for the comparable period of 2020. Loan income grew to $6.098 million for the six months ending June 30, 2021, an increase of $731 thousand, or 13.61%, from $5.367 million for the same period a year ago due to higher outstanding balances. Interest expense was $786 thousand for the six months ended June 30, 2021, a decrease of $553 thousand, or 41.30%, when compared to $1.340 million for the same period a year ago due to lower market rates. Total other income was $658 thousand for the six months ended June 30, 2021, an increase of $10 thousand, or 1.49%, over the same period a year ago. During the prior period, the Company realized $132 thousand in gains on securities as the Company repositioned its investment portfolio. The securities sold were replaced by similar securities with essentially the same effective duration and a nominally higher yield. Service fees on deposit accounts decreased by $32 thousand or 9.15% for the six months ended June 30, 2021, when compared to the same period a year ago due to reduced activity during the COVID-19 pandemic. Total non-interest expenses were $4.172 million for the six months ended June 30, 2021, an increase of $185 thousand, or 4.63% over the same period a year ago. Salaries decreased by $27 thousand for the six months ended June 30, 2021 compared to the same period last year. Occupancy expenses declined to $333 thousand, a reduction of $102 thousand from the same period a year ago, as the Bank purchased its Main office on Livingston Avenue in the fourth quarter of 2020 and its North Brunswick branch in May 2021. Other expenses grew by $316 thousand to $1.464 million for the six months ended June 30, 2021 when compared to $1.148 million for the same period a year ago, as the Bank has expended approximately $250 thousand due to the proxy contest related to its 2021 Annual Meeting. Provisions for loan losses was $256 thousand for the six months ended June 30, 2021 as compared $170 thousand for the same period a year ago. The Company believes this increase is prudent given the impact of the COVID-19 pandemic on the local economy and customers. Management is actively monitoring the Bank’s loan portfolio in light of the continued uncertainty and may increase provisions for loan losses in the future. Net income was $1.259 million for the six months ended June 30, 2021 compared to $541 thousand for the same period a year ago, an increase of $718 thousand or 132.82%. Income before income taxes and provision for loan losses was $2.005 million, an increase of $1.130 million, or 129.20%, over the same period a year ago. Financial Summary for the Three Months ended June 30, 2021 Net interest income was $2.805 million for the three months ended June 30, 2021, an increase of $716 thousand, or 34.26%, from $2.089 million for the same period a year ago. Loan income was $3.072 million for the three months ending June 30, 2021, an increase of $421 thousand, or 15.90%, from $2.651 million for the same period a year ago due to higher outstanding balances. Interest expense was $399 thousand for the three months ended June 30, 2021, a decrease of $245 thousand, or 38.00% when compared to $644 thousand for the same period a year ago, primarily due to lower market rates. Total other income was $319 thousand for the three months ended June 30, 2021, a decrease of $67 thousand or 17.46% when compared to $386 for the same period a year ago. During the prior period, the Company realized $132 thousand in gains on securities as the Company repositioned its investment portfolio, as discussed above, Service fees on deposit accounts increased by $4 thousand or 2.22% for the three months ended June 30, 2021, when compared to $160 thousand for the same period a year ago. Total non-interest expenses were $1.989 million for the three months ended June 30, 2021, an increase of $8 thousand, or 0.42% when compared to $1.981 million for the same period a year ago. Salaries increased by $3 thousand to $1.155 million for the three months ended June 30, 2021 compared to $1.152 million for the same period a year ago. Occupancy expenses decreased to $155 thousand, a reduction of $45 thousand from $200 thousand for the same period a year ago due to the purchase of our George Street branch. Other expenses grew by $53 thousand to $634 thousand for the three months ended June 30, 2021 when compared to $581 thousand for the same period last year primarily due to an increase of $29 thousand related to non-accrual loan expenses. Provisions for loan losses were $147 thousand for the three months ended June 30, 2021 compared to $90 thousand in the comparable year ago period. The Company believes this increase is prudent given the impact of the COVID-19 pandemic on the local economy and customers. Management is actively monitoring the Bank’s loan portfolio in light of the continued uncertainty and may increase provisions for loan losses in the future. Net income was $707 thousand for the three months ended June 30, 2021 compared to $310 thousand for the same period a year ago, an increase of $397 thousand or 127.97%. Income before income taxes and provision for loan losses was $1.135 million, an increase of $640 thousand, or 129.342%, over the same period a year ago. Operations During COVID-19 Pandemic As previously disclosed, branch lobbies are open following guidelines from the CDC and the State of New Jersey. In accordance with state and federal guidance, and to assist borrowers impacted by the COVID-19 pandemic, the Bank granted payment deferrals to affected borrowers. All borrowers granted the relief are currently making payments. Forward-Looking Statements In addition to historical information, this news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which are based on certain assumptions and describe future plans, strategies and expectations of the Company. These forward-looking statements are generally identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” “will,” “should,” “may,” “view,” “opportunity,” “potential,” or similar expressions or expressions of confidence. The Company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations of the Company and its subsidiaries include, but are not limited to: changes in interest rates, general economic conditions, levels of unemployment in the Bank’s lending area, real estate market values in the Bank’s lending area, future natural disasters and increases to flood insurance premiums, the level of prepayments on loans and mortgage-backed securities, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in the Company’s market area, accounting principles and guidelines, and the impact of the Covid-19 pandemic on the Company, the Bank and its customers. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. About Brunswick Bancorp Brunswick Bancorp is the holding company for Brunswick Bank & Trust, a New Jersey chartered commercial bank which serves central New Jersey through its New Brunswick main office and four additional branch offices. BRUNSWICK BANCORP REPORTS JUNE 30, 2021 RESULTS

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Expert Collections containing June

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

June is included in 4 Expert Collections, including Smart Money VCs (2017-2019).

S

Smart Money VCs (2017-2019)

6,297 items

We crunched the data to identify the 24 VC firms with the best combination of portfolio valuations and investment outcomes.

S

Smart Home Companies

339 items

C

Consumer Hardware

2,912 items

S

Smart Home & Consumer Electronics

1,082 items

This Collection includes companies developing smart home devices, wearables, home electronics, and other consumer electronics.

June Patents

June has filed 45 patents.

The 3 most popular patent topics include:

  • Cooking appliances
  • Home appliances
  • DOS games
patents chart

Application Date

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2/5/2019

9/7/2021

Cooling technology, Thermodynamics, Computer hardware cooling, Cooking appliance brands, Cooking appliances

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9/7/2021

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Related Topics

Cooling technology, Thermodynamics, Computer hardware cooling, Cooking appliance brands, Cooking appliances

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Grant

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June Web Traffic

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