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Article: WGNB Corp. Announces Financial Results for Q1 '09.(Financial report)
- Article from:
- Investment Weekly News
- Article date:
- May 16, 2009
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WGNB Corp. (NASDAQ: WGNB), the holding company for First National Bank of Georgia, reported a net loss of $1.6 million, or $0.31 per common share, for the first quarter ended March 31, 2009, compared to net income of $1.8 million, or $0.30 per diluted common share, for the first quarter ended March 31, 2008. The first quarter 2009 result is a marked improvement from a net loss of $3.3 million, or $0.59 per common share (excluding a non-cash goodwill impairment charge of $24.1 million), for the fourth quarter of 2008.
Commenting on the Company's first quarter results, H. B. "Rocky" Lipham, III, Chief Executive Officer stated "the Bank's core franchise remains ...