During the fourth quarter of 2007, net interest income declined $3.5 million, or 7%, from the same period in 2006.
The company has reported $32.1 million in net income, or $1 per diluted share, for 2007 compared to $70 million in net income, or $2.12 per diluted share, for 2006.
Gary Geisel, chairman and CEO of Provident Bankshares, said: As the year begins, the industry will need to navigate through challenges not faced for quite some time. For 2008, Provident’s order of priorities will be focused on capital, liquidity and earnings in order to achieve our long term objectives for earnings growth.
