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Article: Oxford Bank Corporation Announces 2007 and Fourth Quarter Results.
- Article from:
- PR Newswire
- Article date:
- February 8, 2008
CopyrightCOPYRIGHT 2008 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OXFORD, Mich., Feb. 8 /PRNewswire-FirstCall/ -- Oxford Bank Corporation (BULLETIN BOARD: OXBC) , the holding company for Oxford Bank, today announced total operating results for 2007 and for the fourth quarter of the year.
For the twelve months ended December 31, 2007, the Corporation recorded a net loss of $5,928,000, or $4.87 per share, compared to net income of $3,216,000, or $2.51 per share for 2006. This outcome was largely impacted by a $7.2 million provision for loan loss in the fourth quarter. In addition, results for the fourth quarter of 2007 were a net loss of $5,246,000, or $4.53 per share versus net income of $375,000, or $0.29 per share, for the ...