thank you kiddiestock for this info:
Some Highlights to make the investors like myself sleep better knowing they are on the right track.
*Core earnings have exceeded $10.0 million for the tenth consecutive quarter
*Gains on sales of mortgage loans totaled $3.3 million in the third quarter of 2010, a 54% increase from the second quarter.
*
· On September 23, 2010, the Illinois Supreme Court issued an opinion that reversed a prior appellate court decision and reinstated judgment in favor of the Bank for $2.6 million, which included $133,000 in current year interest.
·In the third quarter of 2010, the Bank realized a bank owned life insurance death benefit of $938,000.
As for those worried about capital levels being low? not only was that false but looks like they improved it
The Company’s tangible common equity improved as of the end of the third quarter of 2010 compared to the second quarter of 2010, moving from 3.58% to 3.75%.
· The Bank’s regulatory capital ratios improved for the third quarter of 2010 compared to the second quarter of 2010.
· The Leverage Ratio improved from 7.76% to 8.38%.
· Total Capital Ratio improved from 10.73% to 11.41%.
Another spot investors worried was the contructions loans and developing loans/ looks like improvement as well
*Nonperforming construction and development (“C & D”) loans totaled $84.8 million, or 37.1%, of total nonperforming loans. This is a decrease from $99.9 million at June 30, 2010 and $94.8 million at December 31, 2009
SLOW AND STEADY WINS THE RACE AND LOOKS LIKE OSBC IS LEAST ON THE RIGHT PATH. Some Highlights to make the investors like myself sleep better knowing they are on the right track.
*Core earnings have exceeded $10.0 million for the tenth consecutive quarter
*Gains on sales of mortgage loans totaled $3.3 million in the third quarter of 2010, a 54% increase from the second quarter.
*
· On September 23, 2010, the Illinois Supreme Court issued an opinion that reversed a prior appellate court decision and reinstated judgment in favor of the Bank for $2.6 million, which included $133,000 in current year interest.
·In the third quarter of 2010, the Bank realized a bank owned life insurance death benefit of $938,000.
As for those worried about capital levels being low? not only was that false but looks like they improved it
The Company’s tangible common equity improved as of the end of the third quarter of 2010 compared to the second quarter of 2010, moving from 3.58% to 3.75%.
· The Bank’s regulatory capital ratios improved for the third quarter of 2010 compared to the second quarter of 2010.
· The Leverage Ratio improved from 7.76% to 8.38%.
· Total Capital Ratio improved from 10.73% to 11.41%.
Another spot investors worried was the contructions loans and developing loans/ looks like improvement as well
*Nonperforming construction and development (“C & D”) loans totaled $84.8 million, or 37.1%, of total nonperforming loans. This is a decrease from $99.9 million at June 30, 2010 and $94.8 million at December 31, 2009
SLOW AND STEADY WINS THE RACE AND LOOKS LIKE OSBC IS LEAST ON THE RIGHT PATH.
"If you choose not to decide, you still have made a choice."
