For the full-year period ended December 31, 2007, net loss was $5.92 million, or $4.87 per share, compared to net income of $3.21 million, or $2.51 per share for the full-year period of 2006.
Jeffrey Davidson, chairman, president and CEO, said: The year 2007 proved to be one of the most challenging years in Oxford Bank’s 124-year history. Oxford Bank has been severely impacted by a still deteriorating southeastern Michigan economy.
