Article: 1st Colonial Bancorp Reports a Year-to-Date Profit of $340,000.(Financial report)

1st Colonial Bancorp, Inc. (OTCBB:FCOB), holding company of 1st Colonial National Bank, reported that its net income for the six months ended June 30, 2009 was $340,000 ($0.12 per share), compared to $511,000 ($0.17 per share) for the six months ended June 30, 2008. Gerry Banmiller, the President and Chief Executive Officer of 1st Colonial announced: "The lower YTD earnings for these two periods were driven by two factors; an increased provision for loan losses, and the FDIC's special assessment imposed on all banks. The addition to the loan loss provision, as well as the special assessment, are each a function of the overall challenging times most banks are experiencing. ...

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