For the full-year period of 2007, net income was $3.98 million, compared to $5.15 million for the full-year period of 2006.
Ralph Lyons, president and CEO, said: I can’t say we were overly pleased with the results for 2007, however, our profits were still $4 million, and we anticipated the negative impact of margin compression in view of the past year’s interest rate environment and our bank’s asset sensitivity.
