|
|
Article: Southwest Georgia Financial Corporation Announces Earnings per Share of $0.18 for the Third Quarter of 2009.(Company overview)(Financial report)
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
CopyrightCOPYRIGHT 2009 NewsRX. 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)
|
Southwest Georgia Financial Corporation (NYSE Amex: SGB), a full service community bank holding company, reported net income of $467 thousand, or $0.18 per diluted share, for the third quarter of 2009, up from a net loss of $2.67 million, or $1.05 per diluted share, for the third quarter of 2008. Reductions in salary and employee benefits of $264 thousand, or 13%, in the recent quarter helped to offset the effect of a $140 thousand provision for loan loss. Last year's third quarter results were negatively impacted by a $4.11 million non-cash loss related to the impairment of equity securities and a $1.00 million loss sustained by the commercial mortgage banking subsidiary. ...