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MBT Financial Corp. )Nasdaq: MBIT) $3.15, up $1.20. Announced Thursday after market close a first quarter 2010 net profit of $348,000, or $0.02 per share, basic and diluted, compared to the loss of $1.4 million, or $0.08 per share in the first quarter of 2009.
The Net Interest Income for the first quarter of 2010 was $9.4 million, a decrease of $808,000, or 7.9% compared to the same period in 2009. Although the net interest margin increased from 3.04% in the first quarter of 2009 to 3.11% in the first quarter of 2010, average earning assets decreased $143.8 million, causing the decrease in net interest income. Average loans decreased $108.3 million, or 11.6%, as weak economic conditions, coupled with ongoing stringent underwriting standards, continue to have a negative impact on loan demand and growth.
What They Do: MBT Financial Corp., a single bank holding company headquartered in Monroe, Michigan, is the parent company of Monroe Bank & Trust (MBT).
Western Alliance Bancorporation (NYSE: WAL) $9.59, up $2.25. Announced Thursday after market close its financial results for the first quarter 2010. Net income of $384,000, including reserve build of $4.1 million and net gain from securities activities of $8.4 million. Diluted net loss per common share of $0.03 compared to net loss of $0.41 for the fourth quarter of 2009 and $2.33 net loss for the first quarter 2009.
Record growth in deposits of $468 million for the quarter to $5.19 billion and year-over-year growth of $1.13 billion. Modest decline in loans to $4.06 billion compared to fourth quarter 2009 and first quarter last year. Record net interest income of $54.7 million compared to $51.8 million for fourth quarter 2009.
What They Do: Western Alliance Bancorporation is the parent company of Bank of Nevada, First Independent Bank of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Alta Alliance Bank, and Shine Investment Advisory Services.
Acacia Research Corporation (Nasdaq: ACTG) $14.43, up $2.88. Announced Thursday after market close results for the three months ended March 31, 2010. Acacia Research reported record quarterly license fee revenues of $39,772,000 during the first quarter of 2010, as compared to $16,957,000 in the comparable prior year quarter.
Trailing twelve-month revenues totaled $90.2 million as of March 31, 2010, as compared to $67.3 million as of December 31, 2009, $65.7 million at
Acacia Research reported first quarter 2010 net income of $18,512,000, or $0.55 per diluted share, as compared to a quarterly net loss of $268,000, or $.01 per diluted share for the comparable prior year quarter. Included in first quarter 2010 net results are non-cash stock compensation and patent amortization charges totaling $3,598,000, as compared to $2,985,000 of non-cash charges in the comparable prior year quarter.
What They Do: Acacia Research’s subsidiaries partner with inventors and patent owners, license the patents to corporate users, and share the revenue.
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