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Article: Fate of Wachovia workers being considered in merger, CEO says bizworld earnings roundup.(Business)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- October 16, 2008
CopyrightCOPYRIGHT 2008 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. 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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Monarch Financial
Firm's profit more than doubles
Citing the contribution from its mortgage-banking unit, Monarch Financial Holdings Inc. said Wednesday that its third-quarter income was more than double what it earned in the year-earlier quarter.
The Chesapeake-based parent of Monarch Bank said it earned $772,333 in the July-through-September period, compared with $313,461 in the year-earlier quarter. Earnings per share rose to 14 cents from 6 cents.
Income from non-interest sources, including mortgage-related activities, service charges and commissions, was $5.27 million, or more than double the amount in last year's third quarter. ...