Business News • MarketWire • Focus Business Bank Announces Unaudited Financial Results for June 30, 2013 and Continued Strong Growth |
Focus Business Bank Announces Unaudited Financial Results for June 30, 2013 and Continued Strong Growth |
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Focus Business Bank Announces Unaudited Financial Results for June 30, 2013 and Continued Strong Growth
SAN JOSE, CA--(Marketwired - Jul 24, 2013) - Focus Business Bank (OTCQB: FCSB) announced unaudited financial results for the quarter and six months ended June 30, 2013. Net income for the quarter was $162,000, or $0.06 per diluted share, compared to $264,000 or $0.10 per diluted share, for the quarter ended June 30, 2012. For the six months ended June 30, 2013, net income was $313,000, or $0.11 per diluted share, compared to $507,000, or $0.18 per diluted share, for the comparable period in 2012. Changes in net income were primarily the result of increases in net interest income which were offset by increases in non-interest expense associated with infrastructure growth and income taxes. As a result of the reversal of the valuation allowance on the deferred tax asset in late 2012, income taxes were significantly lower in the first six months of 2012 compared to 2013.
View More : http://www.marketwire.com/mw/release.do?id=1814401&sourceType=3
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