Business News • MarketWire • Seacoast Commerce Bank Announces Third Quarter Profit With Continued Credit Improvement |
Seacoast Commerce Bank Announces Third Quarter Profit With Continued Credit Improvement |
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Seacoast Commerce Bank Announces Third Quarter Profit With Continued Credit Improvement
CHULA VISTA, CA--(Marketwire - October 22, 2010) - Seacoast Commerce Bank (OTCBB: SCCB) today announced its unaudited results of operations for the third quarter ended September 30, 2010. The Bank reported a net profit of $658 thousand for the third quarter compared to a net loss of $1.620 million in the third quarter of 2009; a significant improvement. Year-to-date, the Bank's net loss was $966 thousand, compared to a 2009 year-to-date net loss of $2.305 million. On an "operating profit" basis (excluding provisions for loan losses and taxes), the Bank's year-to-date operating profit was $1.734 million, versus a 2009 year-to-date operating loss of $1.170 million.
View More : http://www.marketwire.com/mw/release.do?id=1339641&sourceType=3
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