Article: Vineyard stock up 21%

Vineyard National Bancorp's stock jumped nearly 21 percent on Wednesday after an audited first-quarter financial report was released, indicated that some investors believe the beleaguered bank may be coming into the clear.

But the report confirmed what others had predicted: The Federal Reserve Board has now officially designated Vineyard to be in a "troubled condition" as of Tuesday.

That's on top of a May 5 "troubled condition" designation delivered by the Office of Comptroller of the Currency in Washington, D.C.

The phrase is no joking matter. Only cash-strapped banks, banks hard hit by mounting losses, are described this way.

Vineyard's stock price closed at $3.16 on Wednesday - just ...

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