Business News • MarketWire • California Oaks State Bank Reports Year End Results |
California Oaks State Bank Reports Year End Results |
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California Oaks State Bank Reports Year End Results
THOUSAND OAKS, CA--(Marketwire - February 17, 2010) - California Oaks State Bank (OTCBB: COSB),
a community business bank with assets of $125.4 million, today reported a
net loss for 2009 of $563,000 or $0.38 per diluted share, compared to a net
loss of $1,088,212 or $0.73 per diluted share in 2008. In addition, the
Bank paid $183,042 or $0.12 per share in dividend and accretion costs as a
result of the TARP funding received by the Bank from the U.S. Treasury in
January, 2009. The loss from operations prior to income taxes for the
year totaled $264,000. The Bank was required to write down its deferred
tax asset by $299,000 at the end of the year. This increased the overall
loss to $563,000.
View More : http://www.marketwire.com/mw/release.do?id=1117955&sourceType=3
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