Business News • MarketWire • Seacoast Commerce Bank Announces Second Quarter Results, Asset Growth, Liquidity and Credit Improvement |
Seacoast Commerce Bank Announces Second Quarter Results, Asset Growth, Liquidity and Credit Improvement |
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Seacoast Commerce Bank Announces Second Quarter Results, Asset Growth, Liquidity and Credit Improvement
CHULA VISTA, CA--(Marketwire - July 22, 2010) - Seacoast Commerce Bank (OTCBB: SCCB) today announced its unaudited results of operations for the second quarter-ending June 30, 2010. The Bank reported a pre-provision ("PPE") operating profit of $833 thousand for the 2nd quarter versus a PPE operating profit of $205 thousand in the 1st quarter, and a PPE loss of $122 thousand for the 2nd quarter of 2009; a continuing improvement. The Bank's PPE operating profit for the first six-months of 2010 was $1.035 million versus a $260 thousand loss for 2009. The Bank's net loss in the second quarter of 2010 was $1.677 million after setting aside $2.510 million for loan losses, compared to a net loss of $252 thousand for the same period last year.
View More : http://www.marketwire.com/mw/release.do?id=1294672&sourceType=3
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