Rochester, NY 8/19/2009 9:02:02 AM
Crescent Banking Company CSNT , Crescent Banking Company set and release its Watch alert this First Quarter Financial Results
Crescent Banking Company
Crescent Banking Company broadcast its marketplace net loss of $5.1 million, which symbolize a net loss per share on together a basic and fully diluted basis of $0.97, for the quarter ended March 31, 2009. As to evaluate to the company’s net loss for the quarter ended March 31, 2008 of $1.9 million, which represented a net loss per share on both a basic and a fully diluted basis of $0.37.
Crescent Banking Company net loss for the first quarter 2009 is mostly attributable to the condition for loan losses during such phase of approximately $2.7 million, a on the way out net interest margin, a $1.1 million valuation allowance against its deferred tax asset and expenses of $992,000 related to foreclosed properties.
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