Business News • MarketWire • Focus Business Bank Announces Unaudited Financial Results for the Quarter and Year Ended December 31, 2012 |
Focus Business Bank Announces Unaudited Financial Results for the Quarter and Year Ended December 31, 2012 |
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Focus Business Bank Announces Unaudited Financial Results for the Quarter and Year Ended December 31, 2012
SAN JOSE, CA--(Marketwire - Jan 31, 2013) - Focus Business Bank (OTCQB: FCSB) announced unaudited financial results for the quarter and year ended December 31, 2012. Net income was $391,000, or $0.14 per share, and $3,458,000, or $1.24 per share, for the quarter and year ended December 31, 2012, respectively. These results included an income tax benefit of $2,174,000 for the year ended December 31, 2012 resulting from the reversal of the valuation allowance on deferred tax assets. Reversal of the valuation allowance was based on the Bank's assessment that after eleven consecutive quarters of pre-tax net income it was likely that the benefits from the deferred tax assets would be realized.
View More : http://www.marketwire.com/mw/release.do?id=1752134&sourceType=3
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