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Article: Oxford Bank Corporation Announces Improved First Quarter Operating Results for 2009.
- Article from:
- PR Newswire
- Article date:
- April 24, 2009
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OXFORD, Mich., April 24 /PRNewswire-FirstCall/ -- Oxford Bank Corporation (BULLETIN BOARD: OXBC) , the holding company for Oxford Bank ("the Bank"), today announced a 51.4-percent improvement in operating results for the first quarter ending March 31, 2009. A net loss of $495,000, or $0.43 per share, was reported, compared to a net loss of $1,019,000, or $0.88 per share, for the same three-month period in 2008.
The Corporation continued to report strong net interest income, despite a strategic $95 million reduction in earning assets during the past twelve months. Net interest income for the first quarter of 2009 was $3,135,000, compared to $3,320,000 in the ...