Business News • MarketWire • MainSource Financial Group -- NASDAQ, MSFG -- Announces Earnings for the First Quarter 2010 |
MainSource Financial Group -- NASDAQ, MSFG -- Announces Earnings for the First Quarter 2010 |
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MainSource Financial Group -- NASDAQ, MSFG -- Announces Earnings for the First Quarter 2010
GREENSBURG, IN--(Marketwire - April 27, 2010) - (NASDAQ: MSFG) Archie M. Brown, Jr., President & Chief Executive Officer of MainSource Financial Group, announced today the unaudited financial results for the first quarter ended March 31, 2010. The Company reported net income of $3.2 million for the first quarter and earnings per common share of $0.12 compared to $1.2 million of net income and $0.03 per common share reported in the first quarter of 2009. Although it remains high from a historical perspective, the Company's loan loss provision expense decreased to $9.5 million in the first quarter of 2010 compared to $11.4 million in the same period a year ago. Also contributing to the increase in earnings year over year was an increase in net interest income of $1.8 million as the Company's net interest margin increased to 4.09% from 3.74% a year ago.
View More : http://www.marketwire.com/mw/release.do?id=1154730&sourceType=3
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