For the fourth quarter, CoBiz Financial has posted diluted earning per share (EPS) of $0.23, which remained unchanged as in the comparable period of 2006. Diluted EPS for the full year of 2007 decreased to $0.96, compared to $0.98 in the year-earlier period of 2006. Return on average equity was 11.45% for the current quarter versus 13.69% a year earlier, and 12.15% year-to-date 2007 versus 15.45% in the prior year’s period. Return on average assets was 0.93% for the current quarter versus 1.03% a year earlier, and 1.04% year-to-date versus 1.11% in the prior year’s period.
Steve Bangert, chairman and CEO of CoBiz Financial, said: Given the current difficult environment for the banking industry, I am pleased with CoBiz’s overall performance in 2007. The underlying fundamentals continue to be positive, with strong loan growth in the fourth quarter, a stable net interest margin and above-average asset quality.
