Net income was $502,000, or $0.02 per diluted share for the fourth quarter of 2007, compared to a net loss of $1.2 million, or $0.07 per diluted share for the fourth quarter of 2006.
For the full-year period ended December 31, 2007, total interest income was $173.3 million, compared to total interest income of $162.1 million for the full-year period of 2006. Net income was $3.2 million, or $0.13 per diluted share for the full-year period of 2007, compared to $8 million, or $0.37 per diluted share for the full-year period of 2006.
Rafael Arrillaga-Torrens, Jr, chairman of the board, president and CEO, said: Despite facing serious head winds for some time, we are content to announce that we were able to return to profitability. We continue to be proactive in addressing concerns as they develop and taking necessary steps to remain well positioned to perform when economic conditions improve.
