|
|
Article: First Sound Bank Third Quarter 2008 Results.
- Article from:
- PR Newswire
- Article date:
- October 27, 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)
|
SEATTLE, Oct. 27 /PRNewswire-FirstCall/ -- First Sound Bank (BULLETIN BOARD: FSWA) today reported pre-tax income of $248 thousand for the quarter ending September 30, 2008, compared to pre-tax income of $440 thousand in the third quarter of 2007. The net after-tax income for the quarter ending September 30, 2008 was $152 thousand, down from $612 thousand reported for the quarter ending June 30, 2008. This decrease in quarter-over- quarter net income was primarily caused by reduced gain on the sale of pooled lease portfolios and a shrinking net interest margin. For the first nine months of 2008, pre-tax income was $2.0 million, compared to $1.1 million in the first ...