The company said that the decrease in net income for the quarter is primarily due to an increase in salaries and employee benefits expense relating to expenses associated with the 2007 equity incentive plan.
For the full-year period ended December 31, 2007, net income increased $4.1 million to $1.6 million with earnings per share of $0.24, compared to net loss of $2.5 million for the full-year period of 2006.
