For the full-year period ended December 31, 2007, net income was $27.3 million, or $0.91 diluted earnings per share, compared to $33.4 million, or $1.12 diluted earnings per share for the same period of 2006.
Joseph DePaolo, president and CEO, said: We fully recognize the challenges brought about by the dislocated and illiquid mortgage securities marketplace. The fourth quarter events have not and will not deter us from continuing to successfully pursue our fundamental strategy – one that is strongly intact as evidenced by our core deposit and loan growth, where we surpassed targets on both fronts.
