New Resource Bank (OTC:NWBN) has released the unaudited financial results for its fourth quarter ended December 31, 2009. The bank announced a net operating loss of $791,000 for the quarter, versus a loss of $5.42 million for the year ago period. The company’s total assets for the period were $159.4 million, versus $170.4 million for the year ago period.
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The company’s percentage of nonperforming loans to total loans was reported as 3.17% for the quarter. The fourth quarter for 2008 reported the percentage of nonperforming loans to total loans of 12.26%. As of December 31, 2009, the bank has $7.3 million in classified loans. The bank had $17 million in classified loans on the same date of 2008.
New Resource (http://www.newresourcebank.com) is a green community bank that aims to promote sustainable growth. The bank is a founding member of the Global Alliance for Banking on Values.
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