The bank’s results for the fourth quarter of 2007 reflect the continued growth of community bank loans and the full impact of the improvements made in liability mix and pricing that occurred in the second half of 2007. These factors contributed to the increase in net interest margin and net interest income for the quarter and the 12-month period.
For the full-year period ended December 31, 2007, income from continuing operations was $10.1 million, or $1.40 per diluted share, compared to $9.9 million, or $1.27 per diluted share for the full-year period of 2006.
Scot Wetzel, president and CEO, said: Our earnings in the fourth quarter of 2007 of $0.41 per share reflect our effective execution of our transition plan to community banking and our management of the legacy wholesale assets we inherited.
