Net loss was $3.14 million, or $0.62 per diluted share for the fourth quarter of 2007, compared to net income of $1.24 million, or $0.24 per diluted share for the fourth quarter of 2006.
For the full-year period of 2007, net interest income was $22.35 million, compared to $22.37 million for the full-year period of 2006. Net income was $86 million, or $0.02 for the full-year period of 2007, compared to $4.75 million, or $0.93 per diluted share for the full-year period of 2006.
Richard Fitzpatrick, president and CEO, said: The real estate market in the Pacific northwest has recently shown signs of deterioration, particularly in the Portland, Oregon and Vancouver, Washington markets.
