Hank's Small Banks

[10 bagger]

MLGF.. $12.90

Malaga Financial Corporation Announces Cash Dividend

Business Wire - Dec 21 at 15:31 NONE

Company Symbols: NASDAQ-OTCBB:MLGF


PALOS VERDES ESTATES, Calif.--(BUSINESS WIRE)-- Malaga Financial Corporation (OTCBB:MLGF). The Board of Directors of Malaga Financial Corporation announced today the declaration of a cash dividend in the amount of 8 cents per share to shareholders of record on January 8, 2010. According to Randy Bowers, President and CEO, the dividend will be paid out on or about January 12, 2010. This dividend represents the 22nd consecutive quarterly cash dividend paid by the company. The company's subsidiary, Malaga Bank, continues to be well capitalized and credit quality remains high.

Malaga Bank is a full-service community bank headquartered on the Palos Verdes Peninsula with branch offices located on the Peninsula, in Torrance and now in San Pedro. For over 24 years, Malaga has been delivering not only competitive banking services to residents and businesses of the South Bay, but also real estate loan products custom-tailored to consumers and investors. As the largest community bank in the South Bay, Malaga is proud of its continuing tradition of relationship-based banking and legendary customer service. The Bank's web site is located at www.malagabank.com.



Source: Malaga Financial Corporation


Copyright Business Wire 2009

[10 bagger]

FPBF..$23.74..-$2.09..

This is one inexpensive Small Bank with a great book and EPS..

SOURCE: FPB Financial Corp.
Diluted Earnings Per
Share Available to
Common Shareholders $ 2.34 $ 0.70 $ 4.22 $ 2.62

Dividend Paid Common
per Share $ 0.14 $ 0.14 $ 0.42 $ 0.42

Return on Average
Assets 2.02% 0.62% 1.23% 0.76%

Return on Average
Total Stockholders'
Equity 22.02% 8.00% 14.41% 10.07%

Net Interest Margin 4.76% 4.52% 4.43% 4.20%


Oct 27, 2009 10:14 ETFPB Financial Corp. Announces Record 2009 Third Quarter Earnings and Declares DividendsHAMMOND, LA--(Marketwire - October 27, 2009) - FPB Financial Corp. (PINKSHEETS: FPBF), the holding company for Florida Parishes Bank, announced earnings for the three months ended September 30, 2009.

Net income for the third quarter was $887,000; ($2.47 per diluted common share), up 259% from $247,000; ($0.70 per diluted common share) for the 2008 comparable period. If a pre-tax third quarter gain on sale of real estate of $514,000 was eliminated, net income for the quarter would be revised to $545,000; ($1.52 per diluted common share), up 121% as compared to the 2008 period and down 2.7% from $560,000; ($1.58 per diluted common share) when compared to the 2009 second quarter.

Earnings were positively affected by a 176% increase in non-interest income, an improved net-interest margin which resulted in a 13.4% increase in net-interest income and a 1.8% decrease in non-interest expense. Provisions for loan losses decreased 10.0%, or $10,000 in comparison to the 2008 period.

Non-interest income increased, primarily due to a $509,000 gain on sale of the Bank's former main office facility. Also, having a positive affect on non-interest income were a net gain of $99,000 on investment trading accounts, and a $78,000 increase in mortgage banking revenue.

Net-interest income increased, primarily due to a $224,000, or 22.9% decrease in interest expense for the three month period compared to 2008.

Although technology and information processing expense increased by $81,000, or 123%, total non-interest expense decreased for the period, primarily due to a $84,000, or 9.2% reduction in compensation expense. The Company does not anticipate future period decreases in total non-interest expenses.

Provisions for loan losses decreased 10% to $90,000. Net loan charge-offs increased 198% to $103,000, as compared to the 2008 three month period. The Company expects modest increases/decreases in net loan charge-offs over the next four quarters as compared to the current period.

Total assets increased 13.7% to $170.4 million as compared to September 30, 2008, primarily due to a 25.1% increase to $6.1 million in cash and cash equivalents, a 9.2% increase to $136.6 million in net loans, and an 8.5% increase to $8.6 million in net premises and equipment. Other real estate owned increased to $119,000. Total liabilities increased $9.6 million, or 6.7% with total deposits increasing 9.4% to $128.6 million, non-interest bearing deposits increased 41.0% to $20.6 million. Allowance for loan losses increased $452,000, or 28.3% to $2.1 million compared to September 30, 2008.

Total stockholders' equity increased $4.1 million, or 33.2% to $16.4 million, when compared to September 30, 2008, primarily due to the January 23, 2009 issuance of $3.2 million of Series A and $162,000 of Series B Perpetual Preferred Stock to the U.S. Treasury from the Treasury's Capital Purchase Program (CPP). Total tangible common equity increased $847,000, or 6.9% to $13.2 million, primarily due to an increase of $1.1 million in accumulated other comprehensive income, and a $366,000 decrease in retained earnings, primarily in relation to the Bank's investment in the AMF Ultra Short Mortgage Fund (ASARX). The fair value on September 30, 2009 of the Bank's AMF Investment was $4.4 million, as compared to the September 30, 2008 fair value of $4.9 million. The June 30, 2009 AMF Fund fair value was $4.3 million.

Our subsidiary, Florida Parishes Bank, is considered "well capitalized" by all Federal Banking Regulations and definitions as of September 30, 2009.

FPB Financial Corp. reported the following compared to September 30, 2008:


-- Net Income increased $640,000, or 259%

-- Net Interest Margin increased to 4.76% from 4.52%

-- Net Interest income increased $223,000, or 13.4%

-- Non-Interest income increased $704,000, or 176.4%

-- Total Deposits increased $11.1 million, or 9.4%

-- Non-Interest bearing deposits increased $6.0 million, or 41.0%

-- Non-maturity deposits increased $17.4 million, or 29.7%

-- Total Stockholders' Equity increased $4.1 million, or 33.2%

-- Tangible Common Equity increased $847,000, or 6.9%

-- Total Assets increased $13.7 million, or 8.7%

-- Net Loans increased $11.5 million, or 9.2%

-- Non-Performing Assets decreased $276,000, or 24.6%

FPB Financial Corp. is headquartered in Hammond, LA and is the parent company of Florida Parishes Bank. The Company's common stock is traded under the "FPBF" symbol.


FPB Financial Corp.

Sept. 30, June 30, Sept. 30,
Selected Balances (Unaudited) 2009 2009 2008
------------ ------------ ------------

Cash and Cash Equivalents $ 6,103,749 $ 22,269,570 $ 4,878,905

Investment Securities at Cost 17,401,993 13,785,762 18,850,582

Investment Securities at Fair
Value 17,866,826 14,001,157 17,576,663

Net Loans 136,555,992 132,411,716 125,087,715

Other Real Estate Owned 118,800 36,000 0

Non-Performing Assets 842,811 1,265,943 1,118,329
to Total Assets 0.50% 0.71% 0.71%

Allowance for Loan Losses 2,050,127 2,062,997 1,597,536
to Gross Loans 1.45% 1.50% 1.26%
to Non-Performing Assets 243.25% 162.96% 142.85%

Total Assets 170,376,487 178,737,896 156,712,216

Non-Interest Bearing Deposits 20,645,329 20,534,338 14,637,635

Interest Bearing Deposits 107,932,788 114,049,772 102,869,440

Non-Maturity Deposits (Included
in interest and non-interest
bearing deposits) 75,738,011 75,037,212 58,379,150

Brokered Deposits (Included in
interest-bearing deposits) 5,438,889 7,991,332 9,744,545

FHLB Advances 20,905,639 24,161,756 23,075,580

Subordinated Debentures/Trust
Preferred Securities 3,093,000 3,093,000 3,093,000

Tangible Common Stockholders'
Equity 13,151,351 12,092,316 12,304,127

Tangible Common Book Value
per Share $ 36.55 $ 34.06 $ 34.66




CONSOLIDATED STATEMENTS OF EARNINGS
(UNAUDITED)



For the Three Months For the Nine Months
Ended Ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
2009 2008 2009 2008
(Unaudited) (Unaudited) (Unaudited) (Unaudited)

INTEREST INCOME:

Mortgage Loans $ 2,008,764 $ 1,900,614 $ 5,858,942 5,688,042

Consumer Loans 243,857 166,369 613,764 469,837

Lines of Credit 106,011 106,254 292,094 305,484

Commercial Loans 62,046 65,039 189,065 198,905

Premium Finance Loans 38,323 150,512 227,311 493,514

Loans on deposits 36,117 31,891 98,231 99,431

Mortgage-backed
securities 92,319 118,468 375,286 184,630

FHLB stock and
other Investment
securities 48,189 84,784 151,370 649,662

Interest-earning
deposits 5,647 18,125 12,631 75,266
----------- ----------- ----------- -----------

TOTAL INTEREST INCOME 2,641,273 2,642,056 7,818,694 8,164,771

INTEREST EXPENSE:
Deposits 502,498 681,909 1,622,904 2,271,906

Federal Home Loan
Bank Advances 222,354 249,923 758,617 924,106

Subordinated
Debentures/
Trust Preferred
Securities 29,280 46,700 98,786 132,530
----------- ----------- ----------- -----------

TOTAL INTEREST EXPENSE 754,132 978,532 2,480,307 3,328,542
----------- ----------- ----------- -----------

NET INTEREST INCOME 1,887,141 1,663,524 5,338,387 4,836,229

Provisions for loan
losses 90,000 100,000 465,000 210,000
----------- ----------- ----------- -----------

NET INTEREST
INCOME AFTER PROVISION
FOR LOAN LOSSES 1,797,141 1,563,524 4,873,387 4,626,229
----------- ----------- ----------- -----------

NON-INTEREST INCOME

Service charge on
deposits 252,682 217,579 671,343 596,857

Mortgage Banking 168,213 90,629 549,647 384,281

Interchange Fees 71,904 64,650 207,802 176,170

Loan Fees and Charges 37,193 44,283 99,460 131,153

Premium Finance 16,208 37,272 73,745 127,156

Gain on Sale of Real
Estate 514,566 0 514,566 0

Gain/(Loss) on
Investments Trading
Accounts 16,716 (82,081) 86,749 (108,049)

Gain on Sale of
Investments 0 0 203,449 0

Investment Impairment
Charge 0 0 (169,923) 0

Other 25,140 26,791 108,775 96,515
----------- ----------- ----------- -----------

TOTAL NON-INTEREST
INCOME 1,102,622 399,123 2,345,613 1,404,083
----------- ----------- ----------- -----------

NON-INTEREST EXPENSE

Compensation and
Employee Benefits 828,407 912,389 2,578,443 2,706,960

Occupancy, Property
Taxes, and Equipment 166,434 166,616 537,435 460,211

Federal Deposit Insurance,
Supervisory Fees/Taxes 128,559 139,872 381,596 170,051

Technology and
Information Processing 147,258 65,988 319,149 389,740

Professional Fees 49,770 49,400 159,884 136,509

Other 243,737 257,750 721,135 770,621
----------- ----------- ----------- -----------

TOTAL NON-INTEREST
EXPENSE 1,564,165 1,592,015 4,697,642 4,634,092
----------- ----------- ----------- -----------

INCOME BEFORE INCOME
TAXES 1,335,598 370,632 2,521,358 1,396,220

Income Tax Expense
(Benefit) 448,896 123,925 903,241 467,460
----------- ----------- ----------- -----------

NET INCOME $ 886,702 $ 246,707 $ 1,618,117 $ 928,760
=========== =========== =========== ===========

Dividends Paid to
Preferred Shareholders 44,145 0 99,081 0

Net Income Available to
Common Shareholders 842,557 246,707 1,519,036 928,760

Earnings Per Share $ 2.52 $ 0.71 $ 4.64 $ 2.70

Earning Per Share
Available to Common
Shareholders $ 2.39 $ 0.71 $ 4.35 $ 2.70

Diluted Earnings Per
Common Share $ 2.47 $ 0.70 $ 4.50 $ 2.62

Diluted Earnings Per
Share Available to
Common Shareholders $ 2.34 $ 0.70 $ 4.22 $ 2.62

Dividend Paid Common
per Share $ 0.14 $ 0.14 $ 0.42 $ 0.42

Return on Average
Assets 2.02% 0.62% 1.23% 0.76%

Return on Average
Total Stockholders'
Equity 22.02% 8.00% 14.41% 10.07%

Net Interest Margin 4.76% 4.52% 4.43% 4.20%

Net Charge-Off/
(Recoveries)
to Average Total $ 102,870 $ 34,514 $ 144,541 $ 124,760
Loans 0.08% 0.03% 0.11% 0.10%

Allowance for Loan Losses 2,050,127 1,597,536 2,050,127 1,597,536
to Average Total Loans 1.52% 1.29% 1.54% 1.30%

Non-Performing Assets 842,811 1,118,329 842,811 1,118,329
to Average Total Assets 0.49% 0.71% 0.48% 0.68%







CONSOLIDATED STATEMENTS OF CONDITION
(UNAUDITED)



Sept. 30, 2009 June 30, 2009 Sept. 30, 2008
ASSETS:

Cash and Cash Equivalents $ 6,103,749 $ 22,269,570 $ 4,878,905

Investment and
Mortgage-Backed Securities 17,866,826 14,001,157 17,576,663

Net Loans 136,555,992 132,411,716 125,087,715

Premises and Equipment, Net 8,779,567 9,014,290 7,916,038

Other Real Estate Owned 118,800 36,000 0

Other Assets 951,553 1,005,163 1,252,895
-------------- -------------- --------------

TOTAL ASSETS $ 170,376,487 $ 178,737,896 $ 156,712,216
============== ============== ==============

LIABILITIES:

Deposits 128,578,117 134,584,110 117,507,075

Federal Home Loan Bank
Advances 20,905,639 24,161,756 23,075,580

Shares subject to mandatory
redemption 3,093,000 3,093,000 3,093,000

Other Liabilities 1,408,380 1,566,714 732,434
-------------- -------------- --------------

TOTAL LIABILITIES $ 153,985,136 $ 163,405,580 $ 144,408,089
============== ============== ==============

STOCKHOLDERS' EQUITY:

Common Stock $ 4,207 $ 4,159 $ 4,159

Capital Surplus 6,128,276 6,067,599 6,023,134

Retained Earnings 7,972,182 7,179,973 8,338,326

Unearned Compensation (85,980) (95,007) (103,714)

Treasury Stock (1,227,321) (1,227,321) (1,227,321)

Accumulated Other
Comprehensive Income 359,987 162,913 (730,457)

Total Tangible Common
Stockholders' Equity 13,151,351 12,092,316 12,304,127
-------------- -------------- --------------

Total Preferred
Stockholders' Equity 3,240,000 3,240,000 0
-------------- -------------- --------------

Total Stockholders' Equity 16,391,351 15,332,316 12,304,127
-------------- -------------- --------------

TOTAL LIABILITIES
AND STOCKHOLDERS EQUITY $ 170,376,487 $ 178,737,896 $ 156,712,216
============== ============== ==============
Fritz W. Anderson II, Chairman of the Board announced today that "On October 8, 2009 (Declaration Date) the Board of Directors of FPB Financial Corp. declared a cash dividend on the common stock of the company bearing Cusip #302549 10 0. The dividend rate increased to $0.36 per share. This dividend rate is composed of a regular quarterly dividend rate of $0.14 per share and a special year-end dividend of $0.22 per share and will be paid on December 24, 2009. (Payable Date) to stockholders of record December 10, 2009. (Record Date)."
For More Information Contact:
Fritz W. Anderson, II
President, Chief Executive Officer,
And Chairman
FPB Financial Corp.
[phone] Click here to see all recent news from this company

[10 bagger]

SPUR..ALERT...???

Careful of this Spam.. Bank need total recapitolization that will leave the current shareholders in a diluted position.. hank

[10 bagger]

EBMT.. $29.15

Eagle Bancorp Announces Adoption of Plan of Conversion and Reorganization

GlobeNewswire - Dec 02 at 16:04 NONE

Company Symbols: NASDAQ-OTCBB:EBMT

HELENA, Mont., Dec. 2, 2009 (GLOBE NEWSWIRE) -- Eagle Bancorp ("Eagle") (OTCBB:EBMT), the holding company for American Federal Savings Bank (the "Bank"), announced today that the Boards of Directors of Eagle Financial, MHC (the "Mutual Holding Company"), Eagle and the Bank have unanimously adopted a Plan of Conversion and Reorganization (the "Plan of Conversion") pursuant to which the Bank will reorganize from a two-tier mutual holding company to a stock holding company structure and will undertake a "second-step" stock offering of new shares of common stock.

As part of the reorganization, the Mutual Holding Company, which owns approximately 60.4% of the outstanding common stock of Eagle, will be merged with and into the Bank and its shares in Eagle will be retired. Shareholders of Eagle, other than the Mutual Holding Company, will receive shares in the new corporation that will become the new holding company for the Bank in an exchange offer pursuant to an exchange ratio designed to preserve their aggregate percentage ownership interest in Eagle. This exchange ratio will be determined based upon an appraisal of the new holding company, which will be performed by an independent appraiser at a later date. The headquarters of Eagle and the Bank will remain in Helena, Montana.

The new holding company will offer its shares of common stock in an amount representing the approximate percentage ownership currently held by the Mutual Holding Company, also to be based on the appraisal of the new holding company. The shares will be offered and sold to the Bank's eligible depositors as of November 30, 2008, to the Bank's tax-qualified employee benefit plans and to members of the general public (with preference to natural persons living in the Bank's community as set forth in the Plan of Conversion) in a subscription and community offering, a syndicated community offering and/or a firm commitment offering, if necessary, in the manner, and subject to the priorities, set forth in the Plan of Conversion.

The transactions contemplated by the Plan of Conversion are subject to approval by Eagle's shareholders (other than the Mutual Holding Company), the members of the Mutual Holding Company (depositors of the Bank) and the Office of Thrift Supervision.

Special meetings of Eagle's shareholders and the members of the Mutual Holding Company will be held to approve the Plan of Conversion; it is likely that those meetings will be held near the end of the first quarter of 2010. A prospectus or proxy statement-prospectus, as applicable, and other proxy materials containing detailed information relating to the Plan of Conversion, details of the offering, and business and financial information about Eagle will be sent to shareholders of Eagle and the Mutual Holding Company members prior to the special meetings.

The Bank's normal business operations will continue without interruption during the conversion and offering process. The transaction will not affect the existing terms and conditions of deposit accounts and loans with the Bank. Deposit accounts will continue to be insured by the Federal Deposit Insurance Corporation to the fullest extent permitted by law.

American Federal Savings Bank was formed in 1922 and is headquartered in Helena, Montana. It has additional branches in Butte, Bozeman and Townsend. Eagle's common stock trades on the OTC Bulletin Board under the symbol "EBMT." Eagle is a subsidiary of Eagle Financial MHC, a federal mutual holding company formed in 2000, which owns approximately 60% of Eagle Bancorp's outstanding common stock.

This release is neither an offer to sell nor a solicitation of an offer to buy common stock. The offer is made only by the prospectus when accompanied by a stock order form. The shares of common stock of Eagle are not savings accounts or savings deposits, may lose value and are not insured by the Federal Deposit Insurance Corporation or any other government agency.

Forward-Looking Statements -- This press release may contain forward-looking statements with respect to Eagle Bancorp. These forward-looking statements involve certain risks and uncertainties. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements, include among others, the following possibilities: (1) changes in the interest rate environment; (2) competitive pressure among financial services companies; (3) general economic conditions including an increase in non-performing loans that could result from an economic downturn; (4) changes in legislation or regulatory requirements; (5) difficulties in continuing to improve operating efficiencies; and (6) increased risk associated with an increase in commercial real-estate and business loans and non-performing loans. All information set forth in this press release is current as of the date of this release and Eagle undertakes no duty or obligation to update this information.

CONTACT: Eagle Bancorp
Peter J. Johnson, President and Chief Executive Officer
[phone]
Clint J. Morrison, Senior Vice President and CFO
[phone]

[Knowledge is King]

Here's a good look at GA banking situation



(DOW JONES) DJN: DJ Georgia Has Foreclosure And Failure On Its Mind

By Ronald D. Orol

Marc Green, president of Mountain Valley Community Bank in Cleveland, Ga.,
is part of an endangered species: Georgia bankers.
So far this year, 21 Georgia banks have failed, more than in any other
state. Georgia -- with 3% of the nation's population and 4% of its banks -
has been home to 17% of the 124 U.S. bank failures so far this year. Georgia
also had more than its shares of bank failures last year.
United Security Bank in Sparta, Ga., was the latest addition to the list
with its failure on Nov. 13.
The Federal Deposit Insurance Corp. reported last week that the number of
distressed banks in the U.S. rose to 552, the highest level in 16 years. In
Georgia and other states, more bank failures are expected.
Green and 311 other Georgian bankers are struggling to survive. Along with
25 other community banks in the state, Green's bank has raised more capital,
including some from the government. Today, Mountain Valley has $24 million
in capital.
But he says the prospects for the real-estate market are dismal in his town
of 2,200 that sits 100 miles north of once-booming Atlanta.
"Real estate in Georgia is not moving at any price unless it's an absolute
give-away," Green said. "The business cycle has absolutely stopped."
Georgia now has the eighth highest new foreclosure rate in the nation (one
in 312 homes with new foreclosure filing), according to Realtytrac.com.
That's slightly below the national average of 385, but well above the 1 in
80 in Nevada or one in 156 in California. Filings in Georgia are up 26% from
a year ago.

Why Has Georgia Had It So Tough?

Joe Brannen, president of the Georgia Bankers Association, argues that
Georgia's problem banks are a product, in part, of a massive population
explosion - mostly in and around Atlanta - which has driven major
residential development projects underwritten by banks.
When the economy turned from boom to bust, the failure of developers to
complete their construction projects left many neighborhoods unfinished.
Banks, meanwhile, were left holding countless problem loans, driving some
institutions to failure and others to the verge of collapse.
The problem was heightened, in part, because at the peak of the crisis
Georgia banks had more commercial real estate development loans on their
books than banks in many other states.
"Georgia was and is a fast growing state," Brannen said. "It is among the
six fastest growing states in the country with 120,000 new people moving to
Atlanta every year."
The unemployment rate in Georgia has doubled during the recession from 5.1%
to 10.2%, matching the national average.
In addition, the state has always had a large number of community banks for
historic reasons. Until 1996, community banks were prohibited from opening
branches outside their home county. Georgia has 159 counties.
"Our state has always had an affinity for community banks," he said.

Too Tough Examinations?

In addition to significant write-downs, banks in Georgia are complaining
that state and FDIC examiners are asking institutions to increase their
levels of capital to unrealistic levels, thus forcing many banks to look for
capital in a dry market.
Chris Cole, vice president of the Independent Community Bankers of America,
said the heightened examination standards have added to a climate of
apprehension among banks, driving managers to lend less.
"They have to dispose of foreclosed property sooner, be more aggressive with
customers, and force homebuilders to give up more collateral," said Cole.
"Banks are being forced to write down viable loan values, and hike capital
standards, all of which is eating up capital that could be used for
lending."
Brannen, of the Georgia bankers group, argues that bank examiners are overly
aggressive in their interpretation of long-standing rules for how community
banks hold reserves for future loan losses. According to the FDIC, U.S.
banks insured by the agency set aside $62.5 billion in reserves in the third
quarter, the fourth quarter in a row that U.S. bank loss provisions
surpassed $60 billion.
"Regulators have a lot of leeway in calculating how much capital banks must
have in their loan-loss reserves," Brannen said. "This sucks up real capital
for what most people believe is a theoretical future financial situation."
U.S. Sen. Johnny Isakson, (R., Ga.), argues that FDIC examiners are putting
tremendous pressure on bank capital.
"It makes it impossible for banks to make loans, and puts lots of pressure
on the balance sheet," he said. "Certainly if a bank is failing, it is
appropriate for the FDIC to move in, but some of the difficulties for
healthy banks are in part because of the pressure of the FDIC."
However, FDIC Chairwoman Sheila Bair, responding to bipartisan concerns at a
hearing in September from U.S. Reps. Tom Price, (R., Ga.), and David Scott,
(D., Ga.), defended the tougher standards.
The longer a troubled bank is left operating, the greater will be the cost
to the community, because the institution is not doing much healthy lending,
she said. Should examiners fail to insist on higher capital standards, more
banks could fail.
The FDIC recently set up an office with 500 employees in Jacksonville, Fla.,
and added workers at its Atlanta office to expand its scrutiny of banks on
the East Coast.

How To Shock Georgian Banks Out Of Their Doldrums

The Georgia bank failures and the state's rising foreclosures have driven
Washington policymakers to examine the situation there in greater detail.
U.S. Rep. Dennis Kucinich, (D., Ohio), chairman of a House oversight and
government reform subcommittee, recently held a field hearing in Atlanta on
bank failures and foreclosures.
Separately, Georgia bank lobbyists are joining bank advocates in Washington
to press the Treasury to expand its stimulus efforts for small banks.
Specifically, they want Treasury to provide funds from the $700 bank bailout
package to small stressed banks - those with less than $5 billion in assets
- on the cusp of a default.
Under their proposal, the federal aid would be matched by capital raised in
the private markets. For example, a small bank could be eligible for $10
million in TARP funds if it could show a commitment of $10 million from
private investors.
Brannen of the Georgia bankers' group said the Treasury Department is still
considering this program for viable banks. Treasury did not respond to
requests for comment.
"It would be huge for a ton of banks in Georgia," Brannen said. "Over $20
million in capital would accommodate three-fourths of all the banks in
Georgia."
However, Isakson argues that the possibility of additional TARP infusions
for small banks could put many Georgian institutions in a difficult
position.
"A bank has to be very careful about whether or not to apply," he said. "A
bank that applies that is rejected would have a black mark placed on it and
no matter what you tried to do, it could be negative."

-By Ronald D. Orol; 415-439-6400; [e-mail]
***

[10 bagger]

Current List of Small Banks owned..

Symbol Last Trade
Time Price Mkt Cap 52-Week Range P/E EPS

1064 CATC
Trade 11:11PM 29.50 365.86M 17.00 - 31.45 11.13 $2.65
288 CIWV
Trade 02:19PM 7.00 12.81M 4.15 - 9.00 11.11 $0.63
826 EBMT
Trade 02:43PM 29.15 31.34M 21.00 - 32.85 10.67 $2.73
611 FPBF
Trade 01:48PM 27.00 0.00M 22.50 - 29.00 0.00 $0.00
1194 GECR
Trade 11:11PM 6.94 24.28M 5.25 - 10.00 8.08 $0.86
276 MLGF
Trade 09:43AM 12.90 68.10M 8.50 - 15.00 0.00 $0.00
2836 NIDB
Trade 10:07AM 10.40 12.80M 4.00 - 12.00 6.48 $1.61
1288 SBSI
Trade 04:00PM 20.03 299.15M 12.86 - 26.25 6.76 $2.96
3408 WEFP
Trade 11:21AM 18.00 14.27M 11.01 - 19.75 6.59 $2.73
2553 WFSC
Trade 11:11PM 3.75 8.05M 3.05 - 7.50 7.95 $0.47

[10 bagger]

GECR,, $6.94

Nice little bank with growth and a good balance sheet.. Have been buying and selling but have decided to accumulate here,, Long at present 1194 shares.. hank

http://www.firstbankofga.com/

Georgia-Carolina Bancshares, Inc. is a one-bank holding company that owns 100% of First Bank of Georgia (the Bank), an independent, locally owned state-chartered commercial bank. The Bank operates three branch offices in Augusta, Georgia, two branch offices in Martinez, Georgia and one branch office in Thomson, Georgia. The Bank offers a range of deposit and lending services and is a member of an electronic banking network that enables its customers to use the automated teller machines of other financial institutions. In addition, the Bank offers commercial and business credit services, as well as various consumer credit services, including home mortgage loans, automobile loans, lines of credit, home equity loans and home improvement loans. The Bank also operates First Bank Mortgage (the Mortgage Division). The Bank's financial services division offers financial planning and investment services through its relationship with Linsco/Private Ledger, an independent brokerage firms.

AUGUSTA, Ga., Oct. 27 /PRNewswire-FirstCall/ -- Georgia-Carolina Bancshares, Inc. (OTC Bulletin Board: GECR - News), a bank holding company and parent company of First Bank of Georgia, reported today that net income increased 54.7% to $1,494,000 ($.43 per diluted common share) for the three months ended September 30, 2009, up from $966,000 ($.28 per diluted common share) for the three months ended September 30, 2008. Net income for the nine months ended September 30, 2009 increased $204,000 or 7.9% over the nine month period ended September 30, 2008. Book value per share of common stock increased to $12.19 at September 30, 2009.

Remer Y. Brinson III, President & CEO of the Company, stated, "We are pleased to report a substantial increase in our third quarter net income, when compared to the third quarter of 2008, and in net income for the nine months ended September 30, 2009, when compared to the same period in 2008. This increase in both quarterly and year-to-date net income has been achieved despite sizeable challenges in the local and national economy, increased allocations to our loan loss reserve and increased regulatory assessments."

"The increase in net income resulted in a return on average equity of 14.06% for the quarter ended September 30, 2009 compared to 10.08% for the third quarter last year. Net interest income for the quarter increased by $428,000 over last year as earning assets grew approximately $25 million in the past twelve months. In addition, increased originations in our mortgage division, gains from the sale of other real estate owned, and tight expense control further boosted our profitability," Brinson continued.

The increase in net income to $2.79 million for the nine months ended September 30, 2009, has been achieved despite FDIC assessments increasing by $504,000 and allocations to the loan loss reserve increasing by $1,184,000, when compared to the first nine months of 2008. "We are very pleased to have exceeded last year's performance in the face of these unprecedented expense increases," Brinson said.

"Asset quality remains a primary focus," Brinson stated. "Our loan loss reserve remains sound at 1.59% of loans, excluding loans held for sale. Also, we have reduced other real estate owned by over $2 million since the beginning of the year. Annualized charge-offs year to date have totaled 0.28% of loans, which is higher than historical levels, but below industry averages."

Total loans grew $24.6 million, or 9.0%, on an annualized basis, during the first nine months of 2009. Total deposits grew $19.6 million, or 6.9%, on an annualized basis, during the same period. "This growth in both loans and deposits during the first nine months of 2009 is a testament to the relative strength of our local economy and our community banking model," Brinson commented.

"In addition, we remain 'well-capitalized' by regulatory standards and all of our regulatory capital ratios improved during the quarter, all accomplished without electing to apply for capital funds through the U.S. Treasury Troubled Asset Relief Program (TARP)."

During the first quarter, First Bank of Georgia celebrated its 20 year anniversary of the opening of the Hill Street Office in Thomson, Georgia and the 10 year anniversary of entering the Augusta market with the opening of its Daniel Village Office. In October, the Bank also celebrated the 10 year anniversary of the opening of the West Town Office in Martinez.

Georgia-Carolina Bancshares' common stock is quoted on the OTC Bulletin Board under the symbol GECR. First Bank of Georgia conducts banking operations through offices in Augusta, Columbia County, and Thomson, Georgia and operates mortgage origination offices in Augusta and Savannah, Georgia and Jacksonville, Florida.

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which can generally be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," "anticipates," "plans" or similar expressions to identify forward-looking statements, and are made on the basis of management's plans and current analyses of the Company, its business and the industry as a whole. These forward-looking statements are subject to risks and uncertainties, including, but not limited to, economic and market conditions, competition, interest rate sensitivity and exposure to regulatory and legislative changes, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.

Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans, or expectations contemplated by the Company will be achieved. The Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.


GEORGIA-CAROLINA BANCSHARES, INC.

Consolidated Balance Sheets
(dollars in thousands)

September 30, December 31,
------------- ------------
2009 2008
---- ----
ASSETS

Cash and due from banks $14,169 $9,954
Federal funds sold 1,675 -
Securities available-for-sale 47,157 57,594
Loans, net of allowance for loan losses
of $5,470 and 4284, respectively 339,538 332,009
Loans, held for sale 44,267 28,402
Bank premises and fixed assets 9,760 10,081
Accrued interest receivable 1,905 1,934
Foreclosed real estate, net of allowance 5,142 7,217
Deferred tax asset, net 1,107 996
Federal Home Loan Bank stock 2,828 2,201
Bank-owned life insurance 8,738 8,402
Other assets 1,495 2,038
----- -----

Total assets $477,781 $460,828
======== ========

LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits
Non-interest bearing $38,151 $34,121
Interest-bearing:
NOW accounts 34,114 37,373
Savings 55,026 55,426
Money market accounts 15,005 9,772
Time deposits of $100,000, and over 176,474 170,878
Other time deposits 77,791 69,439
------ ------
Total deposits 396,561 377,009

Other liabilities, borrowings, and retail
deposit agreements 38,622 44,735
------ ------

Total liabilities 435,183 421,744
------- -------

Shareholders' equity
Preferred stock, par value $.001;
1,000,000 shares authorized; none issued - -
Common stock, par value $.001; 9,000,000
shares authorized; shares issued and
3,493,179 and 3,456,816 outstanding 4 4
Additional paid-in-capital 15,523 15,268
Retained Earnings 26,392 23,604
Accumulated other comprehensive income 679 208
--- ---
Total shareholders' equity 42,598 39,084
------ ------
Total liabilities and shareholders'
equity $477,781 $460,828
======== ========



GEORGIA-CAROLINA BANCSHARES, INC.

Consolidated Statements of Income
(dollars in thousands, except per share amounts)

Three Months Ended Nine Months Ended
September 30, September 30,
Interest income 2009 2008 2009 2008
---- ---- ---- ----
Interest and fees on loans $5,727 $5,668 $16,383 $17,839
Interest on taxable
securities 452 673 1,519 2,101
Interest on nontaxable
securities 103 84 311 232
Interest on Federal funds
sold and other interest 3 20 6 76
- -- - --
Total interest income 6,285 6,445 18,219 20,248
----- ----- ------ ------

Interest expense
Interest on time deposits of
$100,000 or more 1,342 1,447 4,337 4,862
Interest on other deposits 828 1,236 2,548 4,518
Interest on funds purchased
and other borrowings 229 304 745 811
--- --- --- ---
Total interest expense 2,399 2,987 7,630 10,191
----- ----- ----- ------

Net interest income 3,886 3,458 10,589 10,057

Provision for loan losses 670 518 1,910 726
--- --- ----- ---

Net interest income after
provision for loan losses 3,216 2,940 8,679 9,331
----- ----- ----- -----

Noninterest income
Service charges on deposits 392 363 1,090 987
Other income/loss 1,325 658 2,342 1,138
Gain on sale of mortgage
loans 2,506 1,820 7,150 5,557
----- ----- ----- -----
Total noninterest income 4,223 2,841 10,582 7,682
----- ----- ------ -----

Noninterest expense
Salaries and employee
benefits 3,287 2,731 9,427 8,316
Occupancy expenses 382 418 1,130 1,168
Other expenses 1,696 1,280 4,895 3,790
----- ----- ----- -----
Total noninterest expense 5,365 4,429 15,452 13,274
----- ----- ------ ------

Income before income taxes 2,074 1,352 3,809 3,739
----- ----- ----- -----

Income tax expense 580 386 1,021 1,155
--- --- ----- -----

Net income $1,494 $966 $2,788 $2,584
====== ==== ====== ======


Net income per share of
common stock
Basic $0.43 $0.29 $0.80 $0.76
===== ===== ===== =====
Diluted $0.43 $0.28 $0.80 $0.74
===== ===== ===== =====
Dividends per share of common
stock $- $- $- $-
== == == ==

[10 bagger]

WFSC,, $3.69 Shareholders Equity $8.29..

Weststar Financial Services Corporation Third Quarter Results in 16% Growth

ASHEVILLE, N.C., Nov. 5 /PRNewswire-FirstCall/ -- Weststar Financial Services Corporation (OTC:WFSC) (BULLETIN BOARD: WFSC) reported consolidated assets increased 15.8% over September 30, 2008 to a record level of $223.6 million. Total loans on September 30, 2009 were $185.4 million - an increase of 17.6% from the level reported a year earlier. Deposits reflected a 17.6% growth to $195.8 million at September 30, 2009 compared to the prior year, and shareholders' equity increased 13.1% from September 30, 2008 to $17.8 million at September 30, 2009

Consolidated net income totaled $132 thousand for the three months ended September 30, 2009 compared to $349 thousand for the comparable period in 2008 - a decrease of 62.3%. On a diluted per share basis, earnings for the three-month periods of 2009 and 2008 decreased 60.0% from $.15 per share to $.06. Pre-provision, pre-tax income, a non-GAAP measure the Company uses to provide a representative comparison of operational performance rose $166 thousand or 19.6% to $1,012 thousand compared to $846 thousand during the third quarter of 2008.

For the nine-month periods ended September 30, 2009, net income decreased from $1,020 thousand to $789 thousand or 22.6%. On a diluted per share basis, earnings for the nine-month periods ended September 30, 2009 and 2008, respectively, were $.35 and $.45 - a decrease of 22.2%. Pre-provision, pre-tax income totaled $2,454 thousand, representing an increase of $406,581 or 19.9% compared to $2,048 thousand during the 2008 period.

The decreased performance in earnings for both the quarter and year-to-date periods was primarily attributable to an increased provision for loan losses resulting from growth in the loan portfolio, deterioration in the regional economic conditions, weakening in real estate values, and our internal indicators reflecting increased past dues and problem debt restructuring.

Return on assets was .23% compared to .75%, and return on equity was 2.93% compared to 8.74% for the three-month periods ended September 30, 2009 and 2008, respectively. For the nine-month periods ended September 30, 2009 and 2008, respectively, return on assets was .49% compared to .76%, and return on equity was 6.08% compared to 8.64%.

"We are pleased with our steady growth and progress through the third quarter. We actively manage and monitor the loan portfolio which has resulted in an increase for provision for loan losses for two purposes. One, for loan growth in which we have continued to meet the needs of our community during this period, and secondly, for concerns over added market risk. For some of our real estate loans, we have felt it prudent to increase our reserve for the risk in the real estate market even though these loans have performed as agreed. As our economy begins a second year of this economic slowdown, we feel that more of our customers could be impacted which will require added monitoring of the loan portfolio along with the need to work with customers through the recovery period. Thus, as we assist them, we want to manage conservatively to assure that we have adequate reserves. We are proud of our results to date and are pleased with how the Bank has assisted our customers in supporting their needs during these very trying times. As a community bank we continue to focus on the attributes that define us as part of our community," said G. Gordon Greenwood, President and Chief Executive Officer.

Weststar Financial Services Corporation is the parent company of The Bank of Asheville. Weststar Financial Services Corporation owns 100% interest in Weststar Financial Services Corporation I, a statutory trust. The Bank operates five full-service banking offices in Buncombe County, North Carolina - Downtown Asheville, Candler, Leicester, South Asheville and Reynolds.

This news release contains forward-looking statements. Such statements are subject to certain factors that may cause the company's results to vary from those expected. These factors include changing economic and financial market conditions, competition, ability to execute our business plan, items already mentioned in this press release, and other factors described in our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's judgment only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events and circumstances that arise after the date hereof.

Weststar Financial Services Corporation & Subsidiary Selected Financial Data Three Months Ended September 30, 2009 2008 % change...

Consolidated earning summary: Interest income $3,207,708 $3,080,208 4.1%
Interest expense 1,042,572 1,180,997 -11.7%
Net interest income 2,165,136 1,899,211 14.0%
Provision for loan losses 869,015 320,635 171.0%
Net interest income after provision for loan losses 1,296,121 1,578,576 -17.9%
Other income 463,466 425,618 8.9%
Other expenses 1,616,278 1,478,381 9.3%
Income before taxes 143,309 525,813 -72.8%
Income taxes 11,686 176,809 -93.4%
Net income $131,623 $349,004 -62.3%

Earnings per share - Basic $0.06 $0.16 -62.5%
Earnings per share - Diluted 0.06 0.15 -60.0%

Average Shares - Basic 2,146,817 2,122,147 1.2% Average Shares - Diluted 2,244,029 2,273,388 -1.3%

Consolidated balance sheet data: Total Assets Total Deposits Loans (gross) Investments Shareholders' Equity

Consolidated average balance sheet data:
Total Assets $224,637,174 $185,946,806 20.8%
Total Deposits 196,112,318 159,510,362 23.0%
Loans (gross) 184,061,988 152,497,479 20.7%
Investments 22,646,050 24,553,284 -7.8%
Shareholders' Equity 17,804,500 15,892,539 12.0%
Consolidated performance ratios:
Return on average assets* 0.23% 0.75%
Return on average equity* 2.93% 8.74%
Capital to Assets 7.93% 8.55%

DATASOURCE: Weststar Financial Services Corporation

CONTACT: Randall C. Hall, Executive Vice President and Secretary, Chief Financial Officer,

[phone], Fax [phone],

[10 bagger]

FPBF..$28.60

The cheapest bank in the US..???

First time I have seen stock for sale.. Bought some more @$28.60..hank

FPB Financial Corp. Announces Record 2009 Third Quarter Earnings and Declares Dividends

HAMMOND, LA -- (Marketwire) -- 10/27/09 -- FPB Financial Corp. (PINKSHEETS: FPBF), the holding company for Florida Parishes Bank, announced earnings for the three months ended September 30, 2009.

Net income for the third quarter was $887,000; ($2.47 per diluted common share), up 259% from $247,000; ($0.70 per diluted common share) for the 2008 comparable period. If a pre-tax third quarter gain on sale of real estate of $514,000 was eliminated, net income for the quarter would be revised to $545,000; ($1.52 per diluted common share), up 121% as compared to the 2008 period and down 2.7% from $560,000; ($1.58 per diluted common share) when compared to the 2009 second quarter.

Earnings were positively affected by a 176% increase in non-interest income, an improved net-interest margin which resulted in a 13.4% increase in net-interest income and a 1.8% decrease in non-interest expense.

Provisions for loan losses decreased 10.0%, or $10,000 in comparison to the 2008 period.

Non-interest income increased, primarily due to a $509,000 gain on sale of the Bank's former main office facility. Also, having a positive affect on non-interest income were a net gain of $99,000 on investment trading accounts, and a $78,000 increase in mortgage banking revenue.

Net-interest income increased, primarily due to a $224,000, or 22.9% decrease in interest expense for the three month period compared to 2008.

Although technology and information processing expense increased by $81,000, or 123%, total non-interest expense decreased for the period, primarily due to a $84,000, or 9.2% reduction in compensation expense. The Company does not anticipate future period decreases in total non-interest expenses.

Provisions for loan losses decreased 10% to $90,000. Net loan charge-offs increased 198% to $103,000, as compared to the 2008 three month period. The Company expects modest increases/decreases in net loan charge-offs over the next four quarters as compared to the current period.

Total assets increased 13.7% to $170.4 million as compared to September 30, 2008, primarily due to a 25.1% increase to $6.1 million in cash and cash equivalents, a 9.2% increase to $136.6 million in net loans, and an 8.5% increase to $8.6 million in net premises and equipment. Other real estate owned increased to $119,000. Total liabilities increased $9.6 million, or 6.7% with total deposits increasing 9.4% to $128.6 million, non-interest bearing deposits increased 41.0% to $20.6 million. Allowance for loan losses increased $452,000, or 28.3% to $2.1 million compared to September 30, 2008.

Total stockholders' equity increased $4.1 million, or 33.2% to $16.4 million, when compared to September 30, 2008, primarily due to the January 23, 2009 issuance of $3.2 million of Series A and $162,000 of Series B Perpetual Preferred Stock to the U.S. Treasury from the Treasury's Capital Purchase Program (CPP). Total tangible common equity increased $847,000, or 6.9% to $13.2 million, primarily due to an increase of $1.1 million in accumulated other comprehensive income, and a $366,000 decrease in retained earnings, primarily in relation to the Bank's investment in the AMF Ultra Short Mortgage Fund (ASARX). The fair value on September 30, 2009 of the Bank's AMF Investment was $4.4 million, as compared to the September 30, 2008 fair value of $4.9 million. The June 30, 2009 AMF Fund fair value was $4.3 million.

Our subsidiary, Florida Parishes Bank, is considered "well capitalized" by all Federal Banking Regulations and definitions as of September 30, 2009.


FPB Financial Corp. is headquartered in Hammond, LA and is the parent company of Florida Parishes Bank. The Company's common stock is traded under the "FPBF" symbol.

[10 bagger]

CATC.. 429.75

Cambridge Bancorp Increases Quarterly Dividend

CAMBRIDGE, Mass., Nov 17, 2009 (BUSINESS WIRE) -- Cambridge Bancorp (CATC)
announced that its Board of Directors has approved a 6.1% percent increase in its
quarterly dividend from $0.33 per share to $0.35 per share. The dividend is
payable January 4, 2010 to shareholders of record as of December 10, 2009.

Cambridge Bancorp and its subsidiary, Cambridge Trust Company, are based in
Cambridge, Massachusetts, in the heart of Harvard Square. Cambridge Trust Company
is a 119-year-old Massachusetts chartered commercial bank with $998 million in
total assets and ten Massachusetts locations in Cambridge, Beacon Hill, Belmont,
Concord, Lincoln and Weston. Cambridge Trust Company is one of New England's
leaders in wealth management with $1.4 billion in client assets under management.
In addition, Cambridge Trust Company of New Hampshire offers wealth management
services at two New Hampshire locations, Concord and Exeter.

SOURCE: Cambridge Bancorp

Cambridge Bancorp
Albert R. Rietheimer, 617-441-1516
Chief Financial Officer & Treasurer

[10 bagger]

IBOC..$15.42

Not a small bank but has the proper Investment Demographics.. hank

11/05/09 11:36 AM EST Buy 1700 IBOC Executed @ $15.4 Details | Edit
11/05/09 11:36 AM EST Buy 100 IBOC Executed @ $15.39 Details | Edit
11/05/09 11:36 AM EST Buy 588 IBOC Executed @ $15.4 Details | Edit
11/05/09 11:29 AM EST Buy 100 IBOC Executed @ $15.38 Details | Edit
11/05/09 11:29 AM EST Buy 100 IBOC Executed @ $15.38 Details | Edit

[10 bagger]

SBSI.. $21.16

Bought 1288 for an Investment.. Location,, Location,, Location.. hank

Southside Bancshares, Inc. Announces Record Earnings for the Three and Nine Months Ended September 30, 2009

Nasdaq Global Select Market Symbol - 'SBSI'

TYLER, Texas, Oct. 29 /PRNewswire-FirstCall/ -- Southside Bancshares, Inc. ("Southside" or the "Company") (NASDAQ:SBSI) today reported its financial results for the three and nine months ended September 30, 2009.

Southside reported record net income of $10.5 million for the three months ended September 30, 2009, an increase of $4.2 million, or 68.0%, when compared to $6.3 million for the same period in 2008.

Net income for the nine months ended September 30, 2009, increased $13.7 million, or 67.4%, to a record $34.0 million from $20.3 million, for the same period in 2008.

Diluted earnings per share increased $0.28, or 66.7%, to $0.70 for the three months ended September 30, 2009, when compared to $0.42 for the same period in 2008. Diluted earnings per share increased $0.91, or 66.9%, to $2.27 for the nine months ended September 30, 2009, compared to $1.36 for the same period in 2008.

The return on average shareholders' equity for the nine months ended September 30, 2009, increased to 25.15% compared to 19.19% for the same period in 2008. The annual return on average assets increased to 1.65% for the nine months ended September 30, 2009, compared to 1.18% for the same period in 2008.

"During 2009, we feel fortunate to have achieved significant earnings benchmarks. We continue to manage the bank with attractive net interest margins," stated B. G. Hartley, Chairman and CEO of Southside Bancshares, Inc. "Our asset quality continues to be at relatively sound levels, especially in light of the macro-economic climate. Finally, we have organically grown our capital position and capital ratios. This capital not only gives us significant flexibility should the future conditions take an unexpected turn, but it also grants us the option to grow our franchise and increase long-term shareholder value."

"The threat of an economic free-fall that persisted over the last eighteen months has been replaced by questions related to the strength and tenacity of the eventual economic recovery. Having navigated successfully through these volatile times, Southside is in a position to take advantage of strategic opportunities as economic visibility continues to improve."

"As always, but especially in the current environment, I have been gratified by the depth of talent and experience we possess and continue to add at the board level, and throughout our employee ranks. Our success during 2009 is a tribute to our people. These are the people who will allow us to continue to grow and to manage our future franchise."

Loan and Deposit Growth

For the three months ended September 30, 2009, total loans decreased slightly, $1.2 million, or 0.1% compared to June 30, 2009. For the nine months ended September 30, 2009, total loans decreased $6.8 million, or 0.7%, compared to December 31, 2008. When comparing September 30, 2009 to September 30, 2008, total loans increased by $28.3 million, or 2.9%. The increase occurred primarily in three categories, other real estate loans, municipal loans and loans to individuals.

Nonperforming assets increased $3.1 million, or 15.4%, to $23.2 million, or 0.79% of total assets, for the three months ended September 30, 2009 when compared to June 30, 2009. This increase is primarily related to construction loans, most of which are associated with the acquisition of Fort Worth National Bank and, to a lesser extent, loans to individuals purchased by Southside Financial Group.

During the three months ended September 30, 2009, deposits, net of brokered deposits, increased $43.6 million, or 2.6%, compared to June 30, 2009. When comparing September 30, 2009 to September 30, 2008, deposits, net of brokered deposits, increased $211.2 million, or 14.3%. The year over year increase in deposits is the result of an increase in public fund deposits combined with an overall increase in core deposits. Much of the increase in the public fund deposits is temporary and is expected to roll-off over the next twelve months.

Net Interest Income

Net interest income increased $2.9 million, or 14.4%, to $22.7 million for the three months ended September 30, 2009, when compared to $19.8 million for the same period in 2008. For the three months ended September 30, 2009, when compared to the same period in 2008, our net interest spread increased to 3.35% from 3.13% and during the same period the net interest margin increased to 3.73% from 3.68%. Compared to the three months ended June 30, 2009, the net interest spread for the three months ended September 30, 2009 increased to 3.35% from 3.33%. The net interest margin for the three months ended September 30, 2009, remained unchanged at 3.73% when compared to the three months ended June 30, 2009.

Net Income for the Three Months

The increase in net income for the three months ended September 30, 2009, when compared to the same period in 2008, was primarily a result of security gains, an increase in net interest income and a decrease in provision for loan losses which were partially offset by an increase in other-than-temporary impairment losses, an increase in noninterest expense and an increase in provision for income tax expense.

Noninterest expense increased $2.0 million, or 13.0%, for the three months ended September 30, 2009, compared to the same period in 2008. The increase in noninterest expense was primarily a result of increases in personnel expense, occupancy expense, FDIC insurance expense and other expense. The increase in personnel expense was associated with our overall growth and expansion, an increase in health insurance expense and normal salary increases for existing personnel, all of which are reflected in salaries and employee benefits which increased a combined $217,000, or 2.2%, when compared to the same period in 2008. Occupancy expense increased $252,000 or 17.4%, due to the addition of a new banking facility and the overall bank growth. FDIC insurance premiums increased $499,000, or 226.8%, due to deposit growth and an overall increase in FDIC insurance premium rates. Other expense increased $437,000, or 25.7%, when compared to the same period in 2008. The increase in other expense was primarily due to losses on other real estate.

About Southside Bancshares, Inc.

Southside Bancshares, Inc. is a bank holding company with approximately $2.9 billion in assets that owns 100% of Southside Bank. Southside Bank currently has 44 banking centers in Texas and operates a network of 47 ATMs.

To learn more about Southside Bancshares, Inc., please visit our investor relations website at http://www.southside.com/investor. Our investor relations site provides a detailed overview of our activities, financial information and historical stock price data. To receive e-mail notification of company news, events and stock activity, please register on the E-mail Notification portion of the website. Questions or comments may be directed to Susan Hill at [phone], or .

Forward-Looking Statements

Certain statements of other than historical fact that are contained in this document and in other written material, press releases and oral statements issued by or on behalf of the Company, a bank holding company, may be considered to be "forward-looking statements" within the meaning of and subject to the protections of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. These statements may include words such as "expect," "estimate," "project," "anticipate," "appear," "believe," "could," "should," "may," "intend," "probability," "risk," "target," "objective," "plans," "potential," and similar expressions. Forward-looking statements are statements with respect to the Company's beliefs, plans, expectations, objectives, goals, anticipations, assumptions, estimates, intentions and future performance and are subject to significant known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from the results discussed in the forward-looking statements. For example, discussions of the effect of the Company's expansion, including expectations of the costs and profitability of such expansion, trends in asset quality and earnings from growth, and certain market risk disclosures are based upon information presently available to management and are dependent on choices about key model characteristics and assumptions and are subject to various limitations. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what actually occurs in the future. As a result, actual income gains and losses could materially differ from those that have been estimated.

Additional information concerning the Company and its business, including additional factors that could materially affect the Company's financial results, is included in the Company's Annual Report on Form 10-K for the year ended December 31, 2008 under "Forward-Looking Information" and Item 1A. "Risk Factors," and in the Company's other filings with the Securities and Exchange Commission. The Company disclaims any obligation to update any factors or to announce publicly the result of revisions to any of the forward-looking statements included herein to reflect future events or developments.

At At At September 30, December 31, September 30, 2009 2008 2008 ---- ---- ---- (dollars in thousands) (unaudited)

Selected Financial Condition Data (at end of period):

Total assets $2,941,563 $2,700,238 $2,524,098 Loans 1,015,724 1,022,549 987,375 Allowance for loan losses 18,445 16,112 12,928 Mortgage-backed and related securities: Available for sale, at estimated fair value 1,209,571 1,026,513 1,011,955 Held to maturity, at cost 236,072 157,287 165,288 Investment securities: Available for sale, at estimated fair value 264,712 278,378 121,509 Held to maturity, at cost 1,493 478 477 Federal Home Loan Bank stock, at cost 36,838 39,411 34,317 Deposits 1,787,248 1,556,131 1,479,192 Long-term obligations 655,518 715,800 589,905 Shareholders' equity 203,369 161,089 142,612 Nonperforming assets 23,207 15,781 8,561 Nonaccrual loans 16,690 14,289 6,192 Loans 90 days past due 1,065 593 1,320 Restructured loans 2,273 148 158 Other real estate owned 2,331 318 549 Repossessed assets 848 433 342

Asset Quality Ratios: Nonaccruing loans to total loans 1.64 % 1.40 % 0.63% Allowance for loan losses to nonaccruing loans 110.52 112.76 208.79 Allowance for loan losses to nonperforming assets 79.48 102.10 151.01 Allowance for loan losses to total loans 1.82 1.58 1.31 Nonperforming assets to total assets 0.79 0.58 0.34 Net charge-offs to average loans 1.00 0.74 0.70

Capital Ratios: Shareholders' equity to total assets 6.89 5.95 5.64 Average shareholders' equity to average total assets 6.54 6.04 6.17

LOAN PORTFOLIO COMPOSITION


The following table sets forth loan totals by category for the periods presented:

At At At September 30, December 31, September 30, 2009 2008 2008 ---- ---- ---- (in thousands) (unaudited) Real Estate Loans: Construction $87,976 $120,153 $99,235 1-4 Family Residential 233,172 238,693 244,988 Other 208,187 184,629 185,248 Commercial Loans 162,378 165,558 165,929 Municipal Loans 144,450 134,986 118,568 Loans to Individuals 179,561 178,530 173,407 ------- ------- ------- Total Loans $1,015,724 $1,022,549 $987,375 ========== ========== ========

At or for the At or for the Three Months Nine Months Ended September 30, Ended September 30, ------------------- ------------------- 2009 2008 2009 2008 ---- ---- ---- ---- (dollars in (dollars in thousands) thousands) (unaudited) (unaudited)

Selected Operating Data: Total interest income $35,399 $34,260 $107,786 $97,931 Total interest expense 12,736 14,452 40,431 44,858 ------ ------ ------ ------ Net interest income 22,663 19,808 67,355 53,073 Provision for loan losses 2,973 3,150 9,980 8,336 ----- ----- ----- ----- Net interest income after provision for loan losses 19,690 16,658 57,375 44,737 ------ ------ ------ ------ Noninterest income Deposit services 4,543 4,739 12,995 13,823 Gain on sale of securities available for sale 6,706 822 26,413 6,574

Total other-than- temporary impairment losses - - (5,627) - Portion of loss recognized in other comprehensive income (before taxes) (993) - 3,197 - ---- --- ----- --- Net impairment losses recognized in earnings (993) - (2,430) -

Gain on sale of loans 392 239 1,274 1,551 Trust income 693 678 1,830 1,890 Bank owned life insurance income 325 314 1,362 1,382 Other 847 827 2,376 2,388 --- --- ----- ----- Total noninterest income 12,513 7,619 43,820 27,608 ------ ----- ------ ------ Noninterest expense Salaries and employee benefits 10,219 10,002 31,163 27,521 Occupancy expense 1,701 1,449 4,684 4,264 Equipment expense 453 327 1,242 968 Advertising, travel & entertainment 546 447 1,549 1,407 ATM and debit card expense 328 313 988 905 Director fees 168 134 480 425 Supplies 254 201 672 584 Professional fees 572 452 1,657 1,239 Postage 247 199 627 565 Telephone and communications 409 270 1,053 785 FDIC Insurance 719 220 3,180 688 Other 2,135 1,698 5,261 4,997 ----- ----- ----- ----- Total noninterest expense 17,751 15,712 52,556 44,348 ------ ------ ------ ------ Income before income tax expense 14,452 8,565 48,639 27,997 Provision for income tax expense 3,620 2,240 13,021 7,399 ----- ----- ------ ----- Net income 10,832 6,325 35,618 20,598 Less: Net income attributable to the noncontrolling interest (335) (75) (1,599) (271) ---- --- ------ ---- Net income attributable to parent $10,497 $6,250 $34,019 $20,327 ======= ====== ======= =======

Common share data attributable to parent: Weighted-average basic shares outstanding 14,911 14,623 14,843 14,552 Weighted-average diluted shares outstanding 15,018 14,922 14,995 14,897 Net income per common share Basic $0.70 $0.43 $2.29 $1.40 Diluted 0.70 0.42 2.27 1.36 Book value per common share - - 13.57 9.70 Cash dividend declared per common share 0.14 0.16 0.41 0.41


At or for the At or for the Three Months Nine Months Ended September 30, Ended September 30, ------------------- ------------------- 2009 2008 2009 2008 ---- ---- ---- ---- (dollars in thousands) (dollars in thousands) (unaudited) (unaudited)

Selected Performance Ratios: Return on average assets 1.47% 1.03% 1.65% 1.18% Return on average shareholders' equity 21.81 17.47 25.15 19.19 Average yield on interest earning assets 5.63 6.23 5.85 6.33 Average yield on interest bearing liabilities 2.28 3.10 2.50 3.41 Net interest spread 3.35 3.13 3.35 2.92 Net interest margin 3.73 3.68 3.76 3.52 Average interest earnings assets to average interest bearing liabilities 119.84 121.82 119.48 121.45 Noninterest expense to average total assets 2.48 2.58 2.54 2.58 Efficiency ratio 53.77 56.08 55.85 56.53

RESULTS OF OPERATIONS


The analysis below shows average interest earning assets and interest bearing liabilities together with the average yield on the interest earning assets and the average cost of the interest bearing liabilities.

AVERAGE BALANCES AND YIELDS (dollars in thousands) (unaudited) Nine Months Ended September 30, 2009 September 30, 2008 ------------------ ------------------ AVG AVG AVG AVG BALANCE INTEREST YIELD BALANCE INTEREST YIELD ------- -------- ----- ------- -------- ----- ASSETS INTEREST EARNING ASSETS: Loans (1) (2) $1,020,782 $55,505 7.27% $980,076 $55,818 7.61% Loans Held For Sale 4,202 116 3.69% 2,734 99 4.84% Securities: Investment Securities (Taxable)(4) 52,308 1,010 2.58% 47,105 1,377 3.90% Investment Securities (Tax-Exempt) (3)(4) 156,416 8,091 6.92% 83,357 4,124 6.61% Mortgage-backed and Related Securities (4) 1,277,781 47,988 5.02% 983,882 38,876 5.28% --------- ------ ------- ------ Total Securities 1,486,505 57,089 5.13% 1,114,344 44,377 5.32% FHLB stock and other investments, at cost 40,841 195 0.64% 29,108 656 3.01% Interest Earning Deposits 24,371 121 0.66% 928 22 3.17% Federal Funds Sold 5,248 17 0.43% 4,118 79 2.56% ----- --- ----- --- Total Interest Earning Assets 2,581,949 113,043 5.85% 2,131,308 101,051 6.33% NONINTEREST EARNING ASSETS: Cash and Due From Banks 44,031 45,590 Bank Premises and Equipment 44,792 40,135 Other Assets 110,506 86,988 Less: Allowance for Loan Loss (17,423) (10,667) ------- ------- Total Assets $2,763,855 $2,293,354 ========== ========== LIABILITIES AND SHAREHOLDERS' EQUITY INTEREST BEARING LIABILITIES: Savings Deposits $65,110 352 0.72% $56,863 545 1.28% Time Deposits 669,069 12,597 2.52% 537,829 17,203 4.27% Interest Bearing Demand Deposits 558,196 4,583 1.10% 492,051 8,132 2.21% ------- ----- ------- ----- Total Interest Bearing Deposits 1,292,375 17,532 1.81% 1,086,743 25,880 3.18% Short-term Interest Bearing Liabilities 182,310 3,355 2.46% 299,125 7,125 3.18% Long-term Interest Bearing Liabilities - FHLB Dallas 625,964 16,958 3.62% 308,725 8,828 3.82% Long-term Debt (5) 60,311 2,586 5.73% 60,311 3,025 6.70% ------ ----- ------ ----- Total Interest Bearing Liabilities 2,160,960 40,431 2.50% 1,754,904 44,858 3.41% NONINTEREST BEARING LIABILITIES: Demand Deposits 378,368 367,786 Other Liabilities 42,906 28,623 ------ ------ Total Liabilities 2,582,234 2,151,313

SHAREHOLDERS' EQUITY (6) 181,621 142,041 ------- ------- Total Liabilities and Shareholders' Equity $2,763,855 $2,293,354 ========== ========== NET INTEREST INCOME $72,612 $56,193 ======= ======= NET INTEREST MARGIN ON AVERAGE EARNING ASSETS 3.76% 3.52% ==== ==== NET INTEREST SPREAD 3.35% 2.92% ==== ====

(1) Interest on loans includes fees on loans that are not material in amount.

(2) Interest income includes taxable-equivalent adjustments of $2,305 and $1,825 for the nine months ended September 30, 2009 and 2008, respectively.

(3) Interest income includes taxable-equivalent adjustments of $2,952 and $1,295 for the nine months ended September 30, 2009 and 2008, respectively.

(4) For the purpose of calculating the average yield, the average balance of securities is presented at historical cost.

(5) Represents junior subordinated debentures issued by us to Southside Statutory Trust III, IV, and V in connection with the issuance by Southside Statutory Trust III of $20 million of trust preferred securities, Southside Statutory Trust IV of $22.5 million of trust preferred securities, Southside Statutory Trust V of $12.5 million of trust preferred securities and junior subordinated debentures issued by FWBS to Magnolia Trust Company I in connection with the issuance by Magnolia Trust Company I of $3.5 million of trust preferred securities.

(6) Includes average equity of noncontrolling interest of $793 and $525 for the nine months ended September 30, 2009 and 2008, respectively.

Note: As of September 30, 2009 and 2008, loans totaling $16,690 and $6,192, respectively, were on nonaccrual status. The policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate.


AVERAGE BALANCES AND YIELDS (dollars in thousands) (unaudited) Three Months Ended September 30, 2009 September 30, 2008 ------------------ ------------------ AVG AVG AVG AVG BALANCE INTEREST YIELD BALANCE INTEREST YIELD ------- -------- ----- ------- -------- ----- ASSETS INTEREST EARNING ASSETS: Loans (1) (2) $1,021,251 $17,887 6.95% $985,953 $18,630 7.52% Loans Held For Sale 4,473 50 4.43% 2,099 29 5.50% Securities: Investment Securities (Taxable)(4) 46,463 402 3.43% 37,826 307 3.23% Investment Securities (Tax-Exempt) (3)(4) 211,915 3,728 6.98% 76,646 1,291 6.70% Mortgage- backed and Related Securities (4) 1,303,851 15,509 4.72% 1,119,217 14,883 5.29% --------- ------ --------- ------ Total Securities 1,562,229 19,639 4.99% 1,233,689 16,481 5.31% FHLB stock and other investments, at cost 39,544 43 0.43% 33,810 180 2.12% Interest Earning Deposits 26,614 58 0.86% 530 2 1.50% Federal Funds Sold - - - 1,559 8 2.04% --- --- ----- --- Total Interest Earning Assets 2,654,111 37,677 5.63% 2,257,640 35,330 6.23% NONINTEREST EARNING ASSETS: Cash and Due From Banks 42,076 45,061 Bank Premises and Equipment 46,341 40,473 Other Assets 114,102 86,542 Less: Allowance for Loan Loss (18,291) (11,614) ------- ------- Total Assets $2,838,339 $2,418,102 ========== ========== LIABILITIES AND SHAREHOLDERS' EQUITY INTEREST BEARING LIABILITIES: Savings Deposits $66,903 99 0.59% $58,646 188 1.28% Time Deposits 711,740 3,999 2.23% 497,663 4,502 3.60% Interest Bearing Demand Deposits 580,202 1,376 0.94% 511,599 2,567 2.00% ------- ----- ------- ----- Total Interest Bearing Deposits 1,358,845 5,474 1.60% 1,067,908 7,257 2.70% Short-term Interest Bearing Liabilities 194,157 1,020 2.08% 279,502 1,986 2.83% Long-term Interest Bearing Liabilities - FHLB Dallas 601,446 5,402 3.56% 445,590 4,231 3.78% Long-term Debt (5) 60,311 840 5.53% 60,311 978 6.45% ------ --- ------ --- Total Interest Bearing Liabilities 2,214,759 12,736 2.28% 1,853,311 14,452 3.10% NONINTEREST BEARING LIABILITIES: Demand Deposits 376,307 382,940 Other Liabilities 55,472 39,105 ------ ------ Total Liabilities 2,646,538 2,275,356

SHAREHOLDERS' EQUITY (6) 191,801 142,746 ------- ------- Total Liabilities and Shareholders' Equity $2,838,339 $2,418,102 ========== ========== NET INTEREST INCOME $24,941 $20,878 ======= ======= NET INTEREST MARGIN ON AVERAGE EARNING ASSETS 3.73% 3.68% ==== ==== NET INTEREST SPREAD 3.35% 3.13% ==== ====

(1) Interest on loans includes fees on loans that are not material in amount.

(2) Interest income includes taxable-equivalent adjustments of $816 and $630 for the three months ended September 30, 2009 and 2008, respectively.

(3) Interest income includes taxable-equivalent adjustments of $1,462 and $440 for the three months ended September 30, 2009 and 2008, respectively.

(4) For the purpose of calculating the average yield, the average balance of securities is presented at historical cost.

(5) Represents junior subordinated debentures issued by us to Southside Statutory Trust III, IV, and V in connection with the issuance by Southside Statutory Trust III of $20 million of trust preferred securities, Southside Statutory Trust IV of $22.5 million of trust preferred securities, Southside Statutory Trust V of $12.5 million of trust preferred securities and junior subordinated debentures issued by FWBS to Magnolia Trust Company I in connection with the issuance by Magnolia Trust Company I of $3.5 million of trust preferred securities.

(6) Includes average equity of noncontrolling interest of $833 and $425 for the three months ended September 30, 2009 and 2008, respectively.

Note: As of September 30, 2009 and 2008, loans totaling $16,690 and $6,192, respectively, were on nonaccrual status. The policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate.


Contact: Suni Davis 903-531-7235

DATASOURCE: Southside Bancshares, Inc.


CONTACT: Suni Davis, [phone], for Southside Bancshares, Inc.


Web Site: http://www.southside.com/

[10 bagger]

IBC.. $15.74.. Not a small bank but it has Location,, Location,, Location.. hank

IBC Reports Strong Earnings Performance

Business Wire - Nov 02 at 09:05 NONE

Company Symbols: NASDAQ-NMS:IBOC


LAREDO, Texas--(BUSINESS WIRE)-- International Bancshares Corporation (NASDAQ: IBOC), one of the largest independent bank holding companies in Texas, today reported net income of $105.6 million for the nine months ended September 30, 2009, an increase of 5.2 percent compared to the same period of 2008; net income for the three months ended September 30, 2009 was $37.0 million, an increase of 9.1 percent compared to the same period of 2008, prior to amounts related to participation in the TARP program, including preferred stock dividends and amounts related to the Warrants. After these amounts, net income for the third quarter of 2009 applicable to common shareholders was $33.7 million, or $.49 diluted earnings per common share and $.49 basic earnings per common share, as compared to $33.9 million or $.49 diluted earnings per common share and $.49 basic earnings per common share for the same period of 2008, absent any TARP program amounts, as the TARP funds were not received until December 23, 2008, which represents a decrease of .6 percent in net income available to common shareholders. Net income for the nine months ended September 30, 2009 applicable to common shareholders was $95.9 million, or $1.40 diluted earnings per common share and $1.40 basic earnings per common share, as compared to $100.4 million or $1.46 diluted earnings per common share and $1.46 basic earnings per common share for the same period of 2008, absent any TARP program amounts, as the TARP funds were not received until December 23, 2008, representing a decrease of 4.1 percent in diluted earnings per common share and a decrease of 4.5 percent in net income available to common shareholders.

Net income was negatively impacted during the first nine months by an increase in the provision for probable loan losses that the Company recorded during the first three quarters of 2009. The increase in the provision can be attributed to the general weakness in the economy and the impact that weakness has on the Company's loan portfolio and borrowers. Additionally, the Company was negatively impacted in the second quarter by an industry-wide FDIC special assessment of $3.3 million, net of tax. Net income for the first nine months of 2009 was positively affected by the increase in net interest margin of the Company, and gains on sales of investment securities of approximately $7.7 million, net of tax.

"I'm extremely pleased with the results of the first nine months of 2009, especially in light of this difficult banking environment. The Company's strong performance has provided us with the ability to offset the costs of the industry-wide FDIC special assessment and the increasing loan provisioning for probable loan losses. Additionally, the Company's strong earnings substantially neutralized the cost of the TARP funding. We are confident in the strength of our balance sheet and especially the long-term quality of our loan portfolio as further evidenced by the decline in our non-performing assets during this period. We are pleased that the economies of Texas and Oklahoma continue to perform better than the national economy. This performance was further supported by a recent Brookings Institution's MetroMonitor study, which was used by BusinessWeek.com to rank the nation's top 40 economies on October 22, 2009. That study placed IBC's key markets in Texas and Oklahoma as the clear winners, ranking San Antonio number one, Austin-Round Rock number two, Oklahoma City number three, Tulsa number seven, Houston number nine and McAllen-Edinburg-Mission number twelve," said Dennis E. Nixon, President and CEO.

"Additionally, during the first three quarters, the substantial increase in shareholders' equity further strengthened the Company's capital ratios. Our securities portfolio has continued to benefit from the Federal Reserve Board and U.S. Treasury actions in the bond markets, which have kept interest rates down and bond prices up. IBC continues to seek out qualified borrowers and is actively lending and investing. We are committed to serving the needs of our customers as well as enhancing our shareholder value," commented Mr. Nixon.

Total assets at September 30, 2009 were $11.7 billion compared to $12.4 billion at December 31, 2008. Total net loans were $5.7 billion at September 30, 2009 compared to $5.8 billion at December 31, 2008. Deposits were $6.9 billion at September 30, 2009 and December 31, 2008.

IBC is a multi-bank financial holding company headquartered in Laredo, Texas, with 280 facilities and more than 440 ATMs serving 104 communities in Texas and Oklahoma.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts contain forward-looking information with respect to future developments or events, expectations, plans, projections or future performance of IBC and its subsidiaries, the occurrence of which involve certain risks and uncertainties, including those detailed in IBC's filings with the Securities and Exchange Commission.

Copies of IBC's SEC filings and Annual Report (as an exhibit to the 10-K) may be downloaded from the SEC filings site located at http://www.sec.gov/edgar.shtml.



Source: International Bancshares Corporation


Copyright Business Wire 2009

[10 bagger]

NIDB.. Div increase..

Northeast Indiana Bancorp, Inc. Increases Quarterly Cash Dividend

PR Newswire - Oct 30 at 10:14 NONE

Company Symbols: NASDAQ-OTCBB:NIDB

HUNTINGTON, Ind., Oct. 30 /PRNewswire-FirstCall/ -- Northeast Indiana Bancorp, Inc., (OTC Bulletin Board: NIDB), the parent company of First Federal Savings Bank, has announced that the Corporation will pay a cash dividend of $0.17 per common share. This represents a 3.0% increase over the Company's previous quarter dividend of $0.165 per common share. The dividend will be payable on November 24, 2009 to shareholders of record on November 10, 2009.


Commenting on the increased cash dividend, Northeast Indiana Bancorp Chairman and CEO Stephen E. Zahn stated "The Company continues to earn the dividend as evidenced by $1.60 earnings per common share over the past four quarters. The Board of Directors continues to have confidence in the Company's operating performance and elected to reward shareholders with an increased cash dividend".


The book value of NIDB's stock was $18.60 per common share as of September 30, 2009. The last reported trade of stock at the close of business on October 29, 2009 was $11.47 per common share and the number of outstanding shares was 1,230,670 as of the same date. The annualized dividend yield is currently 5.9% when annualizing the current quarter cash dividend of $0.17 per common share against the October 29, 2009 closing price of $11.47 per common share.


Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street, Huntington, Indiana. The company offers a full array of banking and financial brokerage services to its customers through its main office in Huntington and four full-service Indiana offices in Huntington (2), Warsaw and Fort Wayne. The Company is traded on the Over the Counter Bulletin Board under the symbol "NIDB". Our web site address is www.firstfedindiana.com.



SOURCE Northeast Indiana Bancorp, Inc.

[10 bagger]

CATC.. Added Again @ $28.00

10/28/09 11:29 AM EDT Buy 570 CATC Executed @ $28 Details | Edit

Long 1646.. Great Small Bank.. hank

[10 bagger]

CIBN.. $4.00

I stole this stock today..

10/27/09 2:40 PM EDT Buy 1888 CIBN Executed @ $4.28 Details | Edit

[10 bagger]

FPBF..$ 28.00

This might just be the best Small Bank Purchase of the year.. Selling might present a problem..hank

10/27/09 1:54 PM EDT Buy 299 FPBF Executed @ $28 Details | Edit

[10 bagger]

CIBN.. $4.00 X $47.50

Again thin,, 882,000 Shares Outstanding..

Community Investors Bancorp, Inc. Reports Net Earnings for the Three Months Ended September 30, 2009

PR Newswire - Oct 27 at 09:13 NONE

Company Symbols: OTC-PINK:CIBN

BUCYRUS, Ohio, Oct. 27 /PRNewswire-FirstCall/ -- Community Investors Bancorp, Inc. (Pink Sheets: CIBN), parent company of First Federal Community Bank of Bucyrus, reported net earnings of $199,000, or $.23 per basic share, for the quarter ended September 30, 2009, representing an increase of $114,000, or 134.1%, compared to the net earnings of $85,000, or $.10 per basic share, reported in the September 2008 quarter. The increase in 2009 earnings reflects a $246,000, or 27.0%, increase in net interest income coupled with an increase in other income of $23,000 or 17.4%. This was partially offset by a $7,000, or 11.9% increase in provision for loan loss as well as an increase of 4.4% or $38,000 in general, administrative and other expense. The increase in our net interest income is due to the early payoff of above-market rate Federal Home Loan Bank (FHLB) advances in June. The increase in provision for loan losses reflects the continuing economic difficulties of some of our loan customers due to high unemployment in the local workforce as well as difficult business conditions. We were successful in reducing general, administrative and other expense except for a $53,000 increase in our FDIC insurance premium. Personnel expense was reduced through the teamwork, efficiency and cooperation of our employees. We continue to scrutinize overhead costs for opportunities to reduce expenses without compromising our ability to serve our customers. However, the rapidly increasing regulatory burden as well as FDIC costs will challenge our ability to reduce overhead expenses.


Community Investors Bancorp, Inc. reported total assets at September 30, 2009, of $129.4 million (decrease of $13.7 million or 9.6%) including net loans of $103.1 million (decrease of $4.6 million or 4.3%). Total liabilities were $117.0 million (decrease of $15.5 million or 11.7%), including total deposits of $97.9 million (increase of $4.6 million or 4.9%). Total stockholders' equity grew to $12.4 million (increase of $1.65 million or 16.4%). The reduction in assets and liabilities is attributable to the net reduction of $20 million in advances to the FHLB, as well as weak loan demand in our current economic environment.



Community Investors Bancorp, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(In thousands)
UNAUDITED

Sept. 30, Sept. 30, June 30, June 30,
ASSETS 2009 2008 2009 2008

Cash and cash equivalents $6,435 $11,948 $5,592 $13,890
FHLB term deposits 2,647 4,600 1,500 4,600
Investment securities 4,714 6,230 4,640 5,394
Mortgage-backed securities 4,080 4,339 4,217 4,509
Loans receivable-gross 104,772 108,679 105,743 108,126
Less: Allowance for Loan
Loss (1,625) (915) (1,600) (880)
Loans receivable-net 103,147 107,764 104,143 107,246
Premises and equipment 4,180 4,328 4,202 4,343
FHLB stock 2,237 2,237 2,237 2,207
Repossessed assets 543 365 260 293
Interest receivable 708 831 698 840
Prepaid federal income tax 245 86 366 130
Deferred federal income tax 116 204
Prepaid expenses 355 406 345 441
Total assets $129,407 $143,134 $128,404 $143,893
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits $97,913 $93,325 $95,223 $93,142
Advances from FHLB 18,500 38,500 20,500 38,500
Interest payable 118 278 204 275
Other liabilities 460 350 360 1,095
Preferred dividend payable 18 - 18 -
Deferred federal income tax - 32 - 96
Total liabilities 117,009 132,485 116,305 133,108
Shareholders' equity
Preferred stock 2,633 - 2,622 -
Common stock 15 15 15 15
Additional Paid-in capital 5,229 5,227 5,229 5,227
Retained earnings 11,306 12,562 11,117 12,572
Accumulated other comprehensive
loss 10 (360) (89) (234)
Treasury stock (6,795) (6,795) (6,795) (6,795)
Total shareholders' equity 12,398 10,649 12,099 10,785

Total liabilities and shareholders'
equity $129,407 $143,134 $128,404 $143,893



Community Investors Bancorp, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except share data)
UNAUDITED
Three months ended
September 30,
2009 2008

Total interest income $ 1,793 $ 2,077
Total interest expense 635 1,165

Net interest income 1,158 912
Provision for losses on loans 66 59
Net interest income after provision
for losses on loans 1,092 853
Other income (losses) 155 132
General, administrative and other expenses 894 856

Earnings (loss) before income taxes 353 129
Federal income taxes expense (benefit) 119 44
NET EARNINGS (LOSS) $ 234 $ 85
Preferred dividends 35 -
NET EARNINGS (LOSS) AVAILABLE FOR COMMON SHARES $ 199 $ 85

EARNINGS (LOSS) PER COMMON SHARE
Basic $ 0.23 $ 0.10

Diluted $ 0.23 $ 0.10




SOURCE Community Investors Bancorp, Inc.

[10 bagger]

FPBF.. $27.00 X $35.00

Thin and only 316,000 Shares Outstanding..

I have an order in to buy 488 @ $27.28 in my Investment Account.. hank

FPB Financial Corp. Announces Record 2009 Third Quarter Earnings and Declares Dividends

Market Wire - Oct 27 at 10:14 NONE

Company Symbols: OTC-PINK:FPBF


HAMMOND, LA -- (MARKET WIRE) -- 10/27/09 -- FPB Financial Corp. (PINKSHEETS: FPBF), the holding company for Florida Parishes Bank, announced earnings for the three months ended September 30, 2009.

Net income for the third quarter was $887,000; ($2.47 per diluted common share), up 259% from $247,000; ($0.70 per diluted common share) for the 2008 comparable period. If a pre-tax third quarter gain on sale of real estate of $514,000 was eliminated, net income for the quarter would be revised to $545,000; ($1.52 per diluted common share), up 121% as compared to the 2008 period and down 2.7% from $560,000; ($1.58 per diluted common share) when compared to the 2009 second quarter.

Earnings were positively affected by a 176% increase in non-interest income, an improved net-interest margin which resulted in a 13.4% increase in net-interest income and a 1.8% decrease in non-interest expense. Provisions for loan losses decreased 10.0%, or $10,000 in comparison to the 2008 period.

Non-interest income increased, primarily due to a $509,000 gain on sale of the Bank's former main office facility. Also, having a positive affect on non-interest income were a net gain of $99,000 on investment trading accounts, and a $78,000 increase in mortgage banking revenue.

Net-interest income increased, primarily due to a $224,000, or 22.9% decrease in interest expense for the three month period compared to 2008.

Although technology and information processing expense increased by $81,000, or 123%, total non-interest expense decreased for the period, primarily due to a $84,000, or 9.2% reduction in compensation expense. The Company does not anticipate future period decreases in total non-interest expenses.

Provisions for loan losses decreased 10% to $90,000. Net loan charge-offs increased 198% to $103,000, as compared to the 2008 three month period. The Company expects modest increases/decreases in net loan charge-offs over the next four quarters as compared to the current period.

Total assets increased 13.7% to $170.4 million as compared to September 30, 2008, primarily due to a 25.1% increase to $6.1 million in cash and cash equivalents, a 9.2% increase to $136.6 million in net loans, and an 8.5% increase to $8.6 million in net premises and equipment. Other real estate owned increased to $119,000. Total liabilities increased $9.6 million, or 6.7% with total deposits increasing 9.4% to $128.6 million, non-interest bearing deposits increased 41.0% to $20.6 million. Allowance for loan losses increased $452,000, or 28.3% to $2.1 million compared to September 30, 2008.

Total stockholders' equity increased $4.1 million, or 33.2% to $16.4 million, when compared to September 30, 2008, primarily due to the January 23, 2009 issuance of $3.2 million of Series A and $162,000 of Series B Perpetual Preferred Stock to the U.S. Treasury from the Treasury's Capital Purchase Program (CPP). Total tangible common equity increased $847,000, or 6.9% to $13.2 million, primarily due to an increase of $1.1 million in accumulated other comprehensive income, and a $366,000 decrease in retained earnings, primarily in relation to the Bank's investment in the AMF Ultra Short Mortgage Fund (ASARX). The fair value on September 30, 2009 of the Bank's AMF Investment was $4.4 million, as compared to the September 30, 2008 fair value of $4.9 million. The June 30, 2009 AMF Fund fair value was $4.3 million.

Our subsidiary, Florida Parishes Bank, is considered "well capitalized" by all Federal Banking Regulations and definitions as of September 30, 2009.

FPB Financial Corp. reported the following compared to September 30, 2008:


-- Net Income increased $640,000, or 259%

-- Net Interest Margin increased to 4.76% from 4.52%

-- Net Interest income increased $223,000, or 13.4%

-- Non-Interest income increased $704,000, or 176.4%

-- Total Deposits increased $11.1 million, or 9.4%

-- Non-Interest bearing deposits increased $6.0 million, or 41.0%

-- Non-maturity deposits increased $17.4 million, or 29.7%

-- Total Stockholders' Equity increased $4.1 million, or 33.2%

-- Tangible Common Equity increased $847,000, or 6.9%

-- Total Assets increased $13.7 million, or 8.7%

-- Net Loans increased $11.5 million, or 9.2%

-- Non-Performing Assets decreased $276,000, or 24.6%



FPB Financial Corp. is headquartered in Hammond, LA and is the parent company of Florida Parishes Bank. The Company's common stock is traded under the "FPBF" symbol.


FPB Financial Corp.

Sept. 30, June 30, Sept. 30,
Selected Balances (Unaudited) 2009 2009 2008
------------ ------------ ------------

Cash and Cash Equivalents $ 6,103,749 $ 22,269,570 $ 4,878,905

Investment Securities at Cost 17,401,993 13,785,762 18,850,582

Investment Securities at Fair
Value 17,866,826 14,001,157 17,576,663

Net Loans 136,555,992 132,411,716 125,087,715

Other Real Estate Owned 118,800 36,000 0

Non-Performing Assets 842,811 1,265,943 1,118,329
to Total Assets 0.50% 0.71% 0.71%

Allowance for Loan Losses 2,050,127 2,062,997 1,597,536
to Gross Loans 1.45% 1.50% 1.26%
to Non-Performing Assets 243.25% 162.96% 142.85%

Total Assets 170,376,487 178,737,896 156,712,216

Non-Interest Bearing Deposits 20,645,329 20,534,338 14,637,635

Interest Bearing Deposits 107,932,788 114,049,772 102,869,440

Non-Maturity Deposits (Included
in interest and non-interest
bearing deposits) 75,738,011 75,037,212 58,379,150

Brokered Deposits (Included in
interest-bearing deposits) 5,438,889 7,991,332 9,744,545

FHLB Advances 20,905,639 24,161,756 23,075,580

Subordinated Debentures/Trust
Preferred Securities 3,093,000 3,093,000 3,093,000

Tangible Common Stockholders'
Equity 13,151,351 12,092,316 12,304,127

Tangible Common Book Value
per Share $ 36.55 $ 34.06 $ 34.66




CONSOLIDATED STATEMENTS OF EARNINGS
(UNAUDITED)



For the Three Months For the Nine Months
Ended Ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
2009 2008 2009 2008
(Unaudited) (Unaudited) (Unaudited) (Unaudited)

INTEREST INCOME:

Mortgage Loans $ 2,008,764 $ 1,900,614 $ 5,858,942 5,688,042

Consumer Loans 243,857 166,369 613,764 469,837

Lines of Credit 106,011 106,254 292,094 305,484

Commercial Loans 62,046 65,039 189,065 198,905

Premium Finance Loans 38,323 150,512 227,311 493,514

Loans on deposits 36,117 31,891 98,231 99,431

Mortgage-backed
securities 92,319 118,468 375,286 184,630

FHLB stock and
other Investment
securities 48,189 84,784 151,370 649,662

Interest-earning
deposits 5,647 18,125 12,631 75,266
----------- ----------- ----------- -----------

TOTAL INTEREST INCOME 2,641,273 2,642,056 7,818,694 8,164,771

INTEREST EXPENSE:
Deposits 502,498 681,909 1,622,904 2,271,906

Federal Home Loan
Bank Advances 222,354 249,923 758,617 924,106

Subordinated
Debentures/
Trust Preferred
Securities 29,280 46,700 98,786 132,530
----------- ----------- ----------- -----------

TOTAL INTEREST EXPENSE 754,132 978,532 2,480,307 3,328,542
----------- ----------- ----------- -----------

NET INTEREST INCOME 1,887,141 1,663,524 5,338,387 4,836,229

Provisions for loan
losses 90,000 100,000 465,000 210,000
----------- ----------- ----------- -----------

NET INTEREST
INCOME AFTER PROVISION
FOR LOAN LOSSES 1,797,141 1,563,524 4,873,387 4,626,229
----------- ----------- ----------- -----------

NON-INTEREST INCOME

Service charge on
deposits 252,682 217,579 671,343 596,857

Mortgage Banking 168,213 90,629 549,647 384,281

Interchange Fees 71,904 64,650 207,802 176,170

Loan Fees and Charges 37,193 44,283 99,460 131,153

Premium Finance 16,208 37,272 73,745 127,156

Gain on Sale of Real
Estate 514,566 0 514,566 0

Gain/(Loss) on
Investments Trading
Accounts 16,716 (82,081) 86,749 (108,049)

Gain on Sale of
Investments 0 0 203,449 0

Investment Impairment
Charge 0 0 (169,923) 0

Other 25,140 26,791 108,775 96,515
----------- ----------- ----------- -----------

TOTAL NON-INTEREST
INCOME 1,102,622 399,123 2,345,613 1,404,083
----------- ----------- ----------- -----------

NON-INTEREST EXPENSE

Compensation and
Employee Benefits 828,407 912,389 2,578,443 2,706,960

Occupancy, Property
Taxes, and Equipment 166,434 166,616 537,435 460,211

Federal Deposit Insurance,
Supervisory Fees/Taxes 128,559 139,872 381,596 170,051

Technology and
Information Processing 147,258 65,988 319,149 389,740

Professional Fees 49,770 49,400 159,884 136,509

Other 243,737 257,750 721,135 770,621
----------- ----------- ----------- -----------

TOTAL NON-INTEREST
EXPENSE 1,564,165 1,592,015 4,697,642 4,634,092
----------- ----------- ----------- -----------

INCOME BEFORE INCOME
TAXES 1,335,598 370,632 2,521,358 1,396,220

Income Tax Expense
(Benefit) 448,896 123,925 903,241 467,460
----------- ----------- ----------- -----------

NET INCOME $ 886,702 $ 246,707 $ 1,618,117 $ 928,760
=========== =========== =========== ===========

Dividends Paid to
Preferred Shareholders 44,145 0 99,081 0

Net Income Available to
Common Shareholders 842,557 246,707 1,519,036 928,760

Earnings Per Share $ 2.52 $ 0.71 $ 4.64 $ 2.70

Earning Per Share
Available to Common
Shareholders $ 2.39 $ 0.71 $ 4.35 $ 2.70

Diluted Earnings Per
Common Share $ 2.47 $ 0.70 $ 4.50 $ 2.62

Diluted Earnings Per
Share Available to
Common Shareholders $ 2.34 $ 0.70 $ 4.22 $ 2.62

Dividend Paid Common
per Share $ 0.14 $ 0.14 $ 0.42 $ 0.42

Return on Average
Assets 2.02% 0.62% 1.23% 0.76%

Return on Average
Total Stockholders'
Equity 22.02% 8.00% 14.41% 10.07%

Net Interest Margin 4.76% 4.52% 4.43% 4.20%

Net Charge-Off/
(Recoveries)
to Average Total $ 102,870 $ 34,514 $ 144,541 $ 124,760
Loans 0.08% 0.03% 0.11% 0.10%

Allowance for Loan Losses 2,050,127 1,597,536 2,050,127 1,597,536
to Average Total Loans 1.52% 1.29% 1.54% 1.30%

Non-Performing Assets 842,811 1,118,329 842,811 1,118,329
to Average Total Assets 0.49% 0.71% 0.48% 0.68%







CONSOLIDATED STATEMENTS OF CONDITION
(UNAUDITED)



Sept. 30, 2009 June 30, 2009 Sept. 30, 2008
ASSETS:

Cash and Cash Equivalents $ 6,103,749 $ 22,269,570 $ 4,878,905

Investment and
Mortgage-Backed Securities 17,866,826 14,001,157 17,576,663

Net Loans 136,555,992 132,411,716 125,087,715

Premises and Equipment, Net 8,779,567 9,014,290 7,916,038

Other Real Estate Owned 118,800 36,000 0

Other Assets 951,553 1,005,163 1,252,895
-------------- -------------- --------------

TOTAL ASSETS $ 170,376,487 $ 178,737,896 $ 156,712,216
============== ============== ==============

LIABILITIES:

Deposits 128,578,117 134,584,110 117,507,075

Federal Home Loan Bank
Advances 20,905,639 24,161,756 23,075,580

Shares subject to mandatory
redemption 3,093,000 3,093,000 3,093,000

Other Liabilities 1,408,380 1,566,714 732,434
-------------- -------------- --------------

TOTAL LIABILITIES $ 153,985,136 $ 163,405,580 $ 144,408,089
============== ============== ==============

STOCKHOLDERS' EQUITY:

Common Stock $ 4,207 $ 4,159 $ 4,159

Capital Surplus 6,128,276 6,067,599 6,023,134

Retained Earnings 7,972,182 7,179,973 8,338,326

Unearned Compensation (85,980) (95,007) (103,714)

Treasury Stock (1,227,321) (1,227,321) (1,227,321)

Accumulated Other
Comprehensive Income 359,987 162,913 (730,457)

Total Tangible Common
Stockholders' Equity 13,151,351 12,092,316 12,304,127
-------------- -------------- --------------

Total Preferred
Stockholders' Equity 3,240,000 3,240,000 0
-------------- -------------- --------------

Total Stockholders' Equity 16,391,351 15,332,316 12,304,127
-------------- -------------- --------------

TOTAL LIABILITIES
AND STOCKHOLDERS EQUITY $ 170,376,487 $ 178,737,896 $ 156,712,216
============== ============== ==============


Fritz W. Anderson II, Chairman of the Board announced today that "On October 8, 2009 (Declaration Date) the Board of Directors of FPB Financial Corp. declared a cash dividend on the common stock of the company bearing Cusip #302549 10 0. The dividend rate increased to $0.36 per share. This dividend rate is composed of a regular quarterly dividend rate of $0.14 per share and a special year-end dividend of $0.22 per share and will be paid on December 24, 2009. (Payable Date) to stockholders of record December 10, 2009. (Record Date)."

For More Information Contact:
Fritz W. Anderson, II
President, Chief Executive Officer,
And Chairman
FPB Financial Corp.
[phone]

[10 bagger]

UBOH.. $10.42..

Reports a loss..

3:39 PM ET United Bancshares 3Q Basic Loss 23c/Shr >UBOHDow Jones
13:37 PM ET United Bancshares 3Q Loss $777,000 >UBOHDow Jones

[10 bagger]

WEFP..$18.80..Earnings..

WEFP hits earnings out of the Park..

10/21/09 12:57 PM EDT Buy 388 WEFP Executed @ $18.8 Details | Edit
10/21/09 12:53 PM EDT Buy 288 WEFP Executed @ $18.8 Details | Edit
Total position is now 3028 and is my largest Small Bank position..hank

Wells Financial Corp. Announces Third Quarter Results and Cash Dividend

PR Newswire - Oct 21 at 12:39 NONE

Company Symbols: NASDAQ-OTCBB:WEFP

WELLS, Minn., Oct. 21 /PRNewswire-FirstCall/ --

Selected Financial Data

Quarter ended Nine months ended
September 30, September 30, September 30, September 30,
2009 2008 2009 2008

Net Income $428,000 $8,000 $1,670,000 $965,000
Basic earnings
per share $0.55 $0.01 $2.15 $1.00
Diluted earnings
per share $0.55 $0.01 $2.15 $1.00
Return on average
equity (1) 7.9% - 10.5% 5.1%
Return on average
assets (1) 0.7% - 0.9% 0.4%
Net interest
rate spread 3.4% 3.4% 3.3% 3.2%
Net interest
rate margin 3.5% 3.4% 3.4% 3.3%
Book value per
share $28.19 $26.18 $28.19 $26.18
(1) annualized


Lonnie R. Trasamar, President of Wells Financial Corp. (OTC Bulletin Board: WEFP) (the Company), the holding company of Wells Federal Bank (the Bank), announced earnings for the third quarter of 2009 of $428,000, up $420,000 when compared to the third quarter of 2008. During the third quarter of 2008 the Company realized a other-than-temporary pre-tax impairment of $485,000 (approximately $316,000 post-tax) on Federal Home Loan Mortgage Corp. preferred stock which resulted in reduced income during that period. Basic and diluted earnings per share for the third quarter of 2009 were $0.55 compared to basic and diluted earnings per share of $0.01 for the third quarter of 2008.

Net income for the nine months ended September 30, 2009 was $1,670,000, up $705,000 when compared to the same period in 2008. Basic and diluted earnings per share were $2.15 for the first nine months of 2009 compared to basic and diluted earnings per share of $1.00 for the first nine months of 2008.

"I am extremely pleased with the performance of the Company and Bank during 2009," stated Trasamar. "During the past twelve months the profitability of the Company has increased the book value of the Company's stock by over $2.00 per share," he added.

Book value per share $28.19 Vrs. $26.18

Net interest income increased by $112,000 and $412,000, or 5.7% and 7.2%, for the three and nine month periods ended September 30, 2009, respectively, when compared to the same periods in 2008. The provision for loan loss decreased by $145,000 for the third quarter 2009 when compared to the third quarter 2008 and increased by $482,000 for the nine months ended September 30, 2009 when compared to the same period in 2008. In accordance with the Bank's internal classification of assets policy, management evaluates the loan portfolio on a monthly basis to identify and determine the adequacy of the allowance for loan loss and adjusts the level of the allowance for loan loss through the provision for loan loss. As of September 30, 2009 and December 31, 2008, the balance in the allowance for loan losses and the allowance for loan losses as a percentage of total loans were $1,806,000 and $1,096,000 and 0.90% and 0.50%, respectively.

When comparing the quarter and nine months ended September 30, 2009 to the same periods in 2008, noninterest income increased by $188,000 and $1,322,000, or 23.9% and 51.0%, respectively, due to an increase in the gain on sale of loans which resulted from increased residential loan refinance activity. Noninterest expense decreased by $221,000 and $190,000, or 8.8% and 2.8% for the quarter and nine months ended September 30, 2009, respectively, when compared to the same periods in 2008.

In the nine months ended September 30, 2009, total loans decreased by $19,497,000 due, primarily, to decreases in home equity line of credit loans and loans on agricultural real estate. Deposits increased by $14,907,000 during the first nine months of 2009. Partially offsetting the increase in deposits was a decrease of $13,250,000 in borrowed funds.

Cash Dividend Announcement

On October 20, 2009, the Company's Board of Directors declared a $0.26 per share cash dividend, payable on November 20, 2009 to shareholders of record on November 6, 2009.

Forward-looking Statements

Statements in this press release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties. The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances arising after the date hereof.

**An unaudited consolidated balance sheet and income statement are part of this press release**



WELLS FINANCIAL CORP. and SUBSIDIARY
Consolidated Statement of Financial Condition
(Dollars in Thousands)
(Unaudited)
ASSETS
09/30/09 12/31/08
-------- --------
Cash, including interest-bearing
accounts:
09/30/09 $25,430;
12/31/08 $2,689 $31,317 $8,744
Certificates of deposit 175 700
Securities available for sale 8,750 8,420
Federal Home Loan Stock 3,660 3,302
Loans held for sale 3,201 2,974
Loans receivable, net 197,719 217,425
Accrued interest receivable 1,803 1,813
Prepaid Income Taxes 71 -
Premises and equipment 3,762 3,961
Mortgage servicing rights, net 1,422 1,294
Other assets 5,739 4,420
----- -----
TOTAL ASSETS $257,619 $253,053
======== ========


LIABILITIES AND EQUITY

LIABILITIES:
Deposits $197,795 $182,888
Borrowed funds 33,556 46,806
Advances from borrowers for taxes
and insurance 3,249 2,081
Income taxes:
Deferred 49 205
Accrued interest payable 423 84
Accrued expenses and other liabilities 688 376
--- ---
TOTAL LIABILITIES 235,760 232,440
------- -------

STOCKHOLDERS' EQUITY:
Common stock, $.10 par value;
7,000.000 shares authorized;
2,187,500 shares issued $219 $219
Additional paid in capital 17,156 17,143
Retained earnings, substantially
restricted 32,378 31,312
Other comprehensive income 174 23
Treasury stock, at cost, 1,411,260
shares at September 30, 2009;
1,412,060 shares at December 31, 2008 (28,068) (28,084)
------ ------
TOTAL EQUITY 21,859 20,613
------ ------

TOTAL LIABILITIES AND EQUITY $257,619 $253,053
======== ========







WELLS FINANCIAL CORP. and SUBSIDIARY
Consolidated Statement of Income
(Dollars in thousands, except per share data)
(Unaudited)
Three Months Nine Months
Ended Ended
September 30, September 30,
------------- -------------
2009 2008 2009 2008
---- ---- ---- ----
Interest and dividend income
Loans receivable:
Residential loans $653 $654 $2,074 $2,135
Commercial Loans 687 683 1,895 2,079
Ag Real Estate Loans 835 835 2,615 2,599
Consumer and other loans 1,160 1,261 3,584 3,815
Investment securities and
other interest-
bearings deposits 116 164 328 564
--- --- --- ---
Total interest income 3,451 3,597 10,496 11,192
----- ----- ------ ------
Interest expense
Deposits 992 1,219 3,051 3,996
Borrowed funds 387 418 1,289 1,452
--- --- ----- -----
Total interest expense 1,379 1,637 4,340 5,448
----- ----- ----- -----
Net interest income 2,072 1,960 6,156 5,744
----- ----- ----- -----
Provision for loan losses 75 220 835 353
-- --- --- ---
Net interest income after
provision for loan losses 1,997 1,740 5,321 5,391
----- ----- ----- -----
Noninterest income
Gain on sale of loans 357 136 2,083 681
Loan servicing fees 237 225 693 685
Insurance commissions 149 141 482 451
Fees and service charges 155 184 447 519
Other 78 102 214 261
-- --- --- ---
Total noninterest income 976 788 3,919 2,597
--- --- ----- -----
Noninterest expense
Compensation and benefits 1,032 1,008 3,134 3,102
Occupancy and equipment 238 262 764 893
Federal insurance premiums 73 9 129 20
Data processing 180 179 564 596
Advertising 77 63 180 176
Amortization & Valuation
adjustments for MSR's 111 140 372 417
Impairment of Securities
Available for Sale - 485 - 485
Other 576 362 1,404 1,048
--- --- ----- -----
Total noninterest expense 2,287 2,508 6,547 6,737
----- ----- ----- -----
Income before income taxes 686 20 2,693 1,251
Income tax expense 258 12 1,023 461
--- -- ----- ---
Net Income $428 $8 $1,670 $790
==== == ====== ====
Earnings per share
Basic earnings per share $0.55 $0.01 $2.15 $1.00
===== ===== ===== =====
Diluted earnings per share $0.55 $0.01 $2.15 $1.00
===== ===== ===== =====







SOURCE Wells Financial Corp.

[10 bagger]

CATC.. $28.90..

10/21/09 11:50 AM EDT Buy 200 CATC Executed @ $28.9 Details | Edit
10/21/09 10:01 AM EDT Buy 200 CATC Executed @ $27.2 Details | Edit

[10 bagger]

MVLY.. $6.00

Sold out position due to restatement of earnings.. hank

[10 bagger]

CATC.. $26.75..

This is by far the best bank that I have seen this Earnings reporting period..It's only fault is that it sells for a premium to book.. Even so I bought a few.. hank

10/20/09 1:12 PM EDT Buy 288 CATC Executed @ $26.75 Details | Edit


Cambridge Bancorp Announces Strong Third Quarter Results

Business Wire - Oct 20 at 12:34 NONE

Company Symbols: NASDAQ-OTCBB:CATC


CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Cambridge Bancorp (OTCBB: CATC) today reported unaudited net income of $3.2 million for the third quarter, representing an increase of $630,000 or 24.9% over the same quarter in 2008. Diluted earnings per share (EPS) of $0.84 compare with $0.68 a year earlier. For the nine months ending September 30, 2009, unaudited net income was $7.6 million versus $7.4 million for the same period in 2008 - an increase of 3.7%.

"Deposit and loan growth trends that developed in the early part of 2009 continued in the third quarter" notes Joseph V. Roller II, the Bank's president and CEO. "Our balance sheet growth clearly drove the significant revenue upswing. However, also noteworthy was the rebound in Wealth Management income. Certainly some of this improvement was attributed to a recovery in equity markets. More importantly, Wealth Management revenues are benefitting from a period of robust new account growth since the beginning of 2009."

Net interest income of $10.0 million for the September 2009 quarter was $1.0 million or 11.4% higher than the same quarter in 2008. For the nine months ending September 30, 2009, net interest income of $28.5 million was $3.1 million or 12.1% higher than the same period in 2008. The Bank's net interest margin improved to 4.27% during the quarter, an increase of 6 basis points over the same quarter in 2008.

Non-interest income of $4.6 million for the September 2009 quarter was up $104,000 compared to the same quarter in 2008. Wealth Management income remained relatively flat at $3.3 million for the quarter as did most other items, with gains on the disposition of investment securities of $148,000 accounting for the increase in non-interest income.

Total loans outstanding as of September 30, 2009 were $514 million compared to $472 million at the end of last year and $463 million at September 30, 2008. Since the beginning of 2009, total loans outstanding have increased $42.2 million (8.9%). The majority of loan growth ($34.1 million) is attributable to an active residential mortgage market, with commercial lending also experiencing a $9.2 million increase in loans outstanding.

Non-performing loans as a percentage of total loans stood at 0.29% at September 30, 2009, a slight decrease from year-end 2008. Loan quality remains strong and the Allowance for Loan Losses stood at $8.5 million or 1.65% of total loans outstanding at September 30, 2009. At December 31, 2008, the Allowance for Loan Losses was $7.7 million or 1.63% of total loans outstanding. The higher provision for loan losses for the nine month periods ($900,000 in 2009 versus $750,000 in 2008) is primarily in response to the overall growth in the loan portfolio.

Total deposits stood at $847 million at period-end compared to $768 million at December 31, 2008, an increase of 10.3%. Total assets at period-end were $998 million compared to $917 million at the end of 2008.

Cambridge Bancorp and its subsidiary, Cambridge Trust Company, are based in Cambridge, Massachusetts, in the heart of Harvard Square. Cambridge Trust Company is a 119-year-old Massachusetts chartered commercial bank with $998 million in total assets and ten Massachusetts locations in Cambridge, Beacon Hill, Belmont, Concord, Lincoln and Weston. Cambridge Trust Company is one of New England's leaders in wealth management with $1.4 billion in client assets under management. In addition, Cambridge Trust Company of New Hampshire offers wealth management services at two New Hampshire locations, Concord and Exeter.

Financial Highlights:


CAMBRIDGE BANCORP

QUARTERLY UNAUDITED RESULTS

September 30, 2009

Dollar amounts in thousands (except share data)

Quarter Ended Nine Months Ended

September 30, September 30,

2009 2008 2009 2008

Interest Income $ 11,604 $ 11,450 $ 34,076 $ 33,456

Interest Expense 1,641 2,506 5,619 8,078

Net Interest Income 9,963 8,944 28,457 25,378

Provision for Loan 300 250 900 750
Losses

Non-Interest Income 4,635 4,531 12,520 13,092

Non-Interest Expense 9,704 9,411 29,237 26,973

Income Before Taxes 4,594 3,814 10,840 10,747

Income Taxes 1,433 1,283 3,194 3,374

Net Income $ 3,161 $ 2,531 $ 7,646 $ 7,373

Data Per Common
Share:

Basic Earnings Per $ 0.85 $ 0.68 $ 2.05 $ 1.96
Share

Diluted Earnings Per $ 0.84 $ 0.68 $ 2.04 $ 1.96
Share

Dividends Declared $ 0.33 $ 0.33 $ 0.99 $ 0.95
Per Share

Avg. Common Shares
Outstanding:

Basic 3,740,168 3,736,690 3,737,586 3,755,882

Diluted 3,743,814 3,745,144 3,739,819 3,766,447

Selected Operating
Ratios:

Net Interest Margin 4.27 % 4.21 % 4.24 % 4.07 %

Return on Average 1.28 % 1.13 % 1.07 % 1.13 %
Assets, after taxes

Return on Average 16.07 % 14.44 % 13.21 % 13.83 %
Equity, after taxes

September 30, December 31, September 30,

2009 2008 2008

Total Assets $ 997,855 $ 917,212 $ 896,628

Total Loans 514,002 471,814 462,966

Non-Performing Loans 1,479 1,602 1,447

Allowance for Loan 8,502 7,696 7,475
Losses

Allowance to 574.84 % 480.35 % 516.56 %
Non-Performing Loans

Allowance to Total 1.65 % 1.63 % 1.61 %
Loans

Total Deposits 846,923 767,654 747,695

Total Stockholders' 81,802 76,044 71,977
Equity

Book Value Per Share $ 21.87 $ 20.29 $ 19.17

Tangible Book Value $ 21.59 $ 19.93 $ 18.80
Per Share





CAMBRIDGE BANCORP

UNAUDITED BALANCE SHEETS

September 30, December 31,

2009 2008

(In thousands)

ASSETS

Cash and due from banks $ 14,345 $ 13,472

Federal funds sold -- 26,179

Total cash and cash equivalents 14,345 39,651

Investment securities:

Available for sale, at fair value 360,861 271,905

Held-to-maturity, at amortized cost 82,851 105,785

Stock in FHLB of Boston, at cost 4,806 4,806

Total investment securities 448,518 382,496

Loans:

Residential mortgage 229,649 195,510

Commercial mortgage 156,420 157,787

Home equity 68,004 68,419

Commercial 46,054 36,842

Consumer 13,875 13,256

Total loans 514,002 471,814

Allowance for loan losses (8,502 ) (7,696 )

Net loans 505,500 464,118

Bank owned life insurance 11,589 11,310

Banking premises and equipment, net 5,655 5,979

Accrued interest receivable 3,962 4,391

Other assets 8,286 9,267

Total assets $ 997,855 $ 917,212

LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits:

Demand $ 202,949 $ 200,877

Interest bearing checking 209,382 212,053

Money market 56,836 51,537

Savings 217,632 140,285

Certificates of deposit 160,124 162,902

Total deposits 846,923 767,654

Short-term borrowings 14,798 3,019

Long-term borrowings 38,000 55,000

Other liabilities 16,332 15,495

Total liabilities 916,053 841,168

Stockholders' equity:

Common stock, par value $1.00; Authorized

5,000,000 shares; Outstanding: 3,740,652 and

3,748,642 shares, respectively 3,741 3,749

Additional paid-in capital 20,443 19,749

Retained earnings 52,738 49,384

Accumulated other comprehensive income 4,880 3,162

Total stockholders' equity 81,802 76,044

Total liabilities and stockholders' equity $ 997,855 $ 917,212





CAMBRIDGE BANCORP

UNAUDITED STATEMENTS OF INCOME

Quarter Ended September 30,

2009 2008

(In thousands, except per share data)

Interest income:

Interest on loans $ 6,978 $ 6,818

Interest on taxable investment 4,205 4,239
securities

Interest on tax exempt investment 401 391
securities

Interest on overnight investments 20 2

Total interest income 11,604 11,450

Interest expense:

Interest on deposits 1,244 1,753

Interest on borrowed funds 397 753

Total interest expense 1,641 2,506

Net interest income 9,963 8,944

Provision for loan losses 300 250

Net interest income after provision 9,663 8,694
for loan losses

Noninterest income:

Wealth management income 3,276 3,303

Deposit account fees 570 592

ATM/Debit card income 229 218

Merchant card services 173 157

Bank owned life insurance income 83 113

Gain on disposition of investment 148 1
securities

Other income 156 147

Total noninterest income 4,635 4,531

Noninterest expense:

Salaries and employee benefits 5,630 5,395

Occupancy and equipment 1,627 1,655

Data processing 787 792

Professional services 361 404

Marketing 350 403

FDIC Insurance 293 43

Other expenses 656 719

Total noninterest expense 9,704 9,411

Income before income taxes 4,594 3,814

Income tax expense 1,433 1,283

Net income $ 3,161 $ 2,531

Per share data:

Basic earnings per common share $ 0.85 $ 0.68

Diluted earnings per common share $ 0.84 $ 0.68

Average shares outstanding - basic 3,740,168 3,736,690

Average shares outstanding - diluted 3,743,814 3,745,144





CAMBRIDGE BANCORP

UNAUDITED STATEMENTS OF INCOME

Nine Months Ended September 30,

2009 2008

(In thousands, except per share data)

Interest income:

Interest on loans $ 20,241 $ 20,000

Interest on taxable investment 12,589 12,184
securities

Interest on tax exempt investment 1,196 1,149
securities

Interest on overnight 50 123
investments

Total interest income 34,076 33,456

Interest expense:

Interest on deposits 4,309 5,943

Interest on borrowed funds 1,310 2,135

Total interest expense 5,619 8,078

Net interest income 28,457 25,378

Provision for loan losses 900 750

Net interest income after provision for 27,557 24,628
loan losses

Noninterest income:

Wealth management income 8,437 9,175

Deposit account fees 1,794 1,758

ATM/Debit card income 634 633

Merchant card services 465 419

Bank owned life insurance 280 362
income

Gain on disposition of investment 382 246
securities

Other income 528 499

Total noninterest income 12,520 13,092

Noninterest expense:

Salaries and employee benefits 16,393 15,456

Occupancy and equipment 4,969 4,845

Data processing 2,379 2,217

Professional services 1,020 1,198

Marketing 1,050 1,088

FDIC Insurance 1,414 92

Other expenses 2,012 2,077

Total noninterest expense 29,237 26,973

Income before income taxes 10,840 10,747

Income tax expense 3,194 3,374

Net income $ 7,646 $ 7,373

Per share data:

Basic earnings per common $ 2.05 $ 1.96
share

Diluted earnings per common $ 2.04 $ 1.96
share

Average shares outstanding - 3,737,586 3,755,882
basic

Average shares outstanding - 3,739,819 3,766,447
diluted







Source: Cambridge Bancorp

[10 bagger]

BOMK.. $6.04 Earnings..

Loss provisions take all and then some of earnings..

Bank of McKenney Posts Strong Core Growth - Reports Third Quarter Loss on Charges to Provision for Loan Losses

MCKENNEY, Va., Oct. 15 /PRNewswire-FirstCall/ -- Bank of McKenney (Nasdaq: BOMK) today announced a third quarter loss of $482,000 due primarily to a $1.2 million provision charge to bolster the reserve for loan losses. This compares to 2008 third quarter earnings of $305,000. A basic and diluted loss per share of $0.25 was reported for the three months ended September 30, 2009, compared to basic and diluted earnings per share of $0.16 for the prior year's results for the same period. For the nine-month period ended September 30, 2009, the Bank reported earnings of $57,000, a decrease of 93.79% when compared to $918,000 through the first nine months of 2008. Again, the reduced earnings are largely the result of provision charges to increase reserves. For the first three quarters of 2009 and 2008, earnings per basic and diluted share of $0.03 and $0.48, respectively, were recorded. Annualized returns on average assets and average equity for the first nine months of 2009 were 0.04% and 0.42%, respectively, compared to 0.74% and 6.63%, respectively, for the same period in 2008. Margins have significantly expanded during the last few quarters as the cost of funds for deposits has plummeted 97 basis points while yields on earning assets have only dropped 32 basis points.



At the end of the third quarter, total assets were $179.2 million, representing a $13.7 million or 8.28% increase over the December 31, 2008 level of $165.5 million. Total deposits amounted to $155.8 million as of September 30, 2009, which represents a $12.9 million or 9.03% increase from the $142.9 million level as of December 31, 2008. On an annualized basis, deposits grew during the third quarter at a rate of 12.04%. During the same period, total loans expanded by 8.14% or $9.1 million to the September 30, 2009 balance of $120.9 million. Loans, on an annualized basis, grew at a rate of 10.85%. At September 30, 2009, the investment portfolio, including time deposits in other banks, was $35.6 million, a 10.22% increase in comparison to the December 31, 2008 $32.3 million level. Overnight federal funds sold ramped up on growth to a September 30, 2009 level of $3.1 million, a 244.44% increase over the $0.9 million level reported on December 31, 2008. Cumulatively, earning assets grew $14.6 million for the first three quarters or 13.43% on an annualized basis and represent 89.06% of total assets. The Bank continues to focus on delinquencies and nonperforming loans within the portfolio; however, delinquency and nonperforming ratios have risen to 0.71% and 3.85%, respectively. These ratios, at December 31, 2008, stood at 0.61% and 1.58%, respectively. While current economic conditions have resulted in increases in these categories, management continues to feel comfortable that losses will be minimized by collateral positions as well as the Bank's ability and willingness to work with the borrowers during the current cycle where possible. Nevertheless, certain credits had deteriorated during the third quarter to levels where the full collectability of said debts became questionable if not doubtful. Management felt it prudent to charge the credits off, or down by impaired amounts, and to increase loan reserves to a greater percentage of loans outstanding. After these additional allocations to reserves, the allowance for loan losses stands at 1.69% of total loans, an increase of 67 basis points over that of December 31, 2008.



The allowance for loan losses was $2,043,000 as of September 30, 2009, or 1.69% of loans outstanding, compared to $1,135,000 as of December 31, 2008 or 1.02% of outstanding loans. Charges to the Reserve account for loan losses amounted to $575,000 as of September 30, 2009 or 0.50% of average outstanding loans for 2009. For the first nine months of 2008, charges to the reserve of $154,000 were taken representing 0.14% of average loans outstanding for the period. Allocations to the reserve account of $1,473,000 were provisioned for the nine months of 2009 compared to provision allocations of $210,000 for the same period of 2008.



Net interest income increased 7.21% to $1,696,000 in the third quarter of 2009 from $1,582,000 in the comparable period in 2008. Noninterest income, exclusive of securities transactions, grew 20.76% or $87,000 in the third quarter of 2009 to $506,000 when compared to $419,000 for the same period in 2008. Service charges posted slightly higher results with a $2,000 or 0.92% increase when comparing the third quarter of 2009 to the third quarter of 2008. The mortgage originations department experienced tremendous success reporting income for the 2009 third quarter of $191,000. This represents a $78,000 or 69.03% increase in revenues during the period when compared to the third quarter of 2008. Other noninterest products and services, including those of the insurance and investment departments, increased to $96,000 for the third quarter of 2009, $7,000 above the $89,000 level recorded in the third quarter of 2008. Noninterest expense increased $241,000 or 15.87% to $1,760,000 during the third quarter 2009 from $1,519,000 for the same period in 2008. Salaries and benefits rose 10.21% or $93,000 while occupancy and furniture & equipment expenses decreased $8,000 or 3.56%. Other operating expenses for the third quarter of 2009 grew $156,000 or 40.73% to a level of $539,000 due primarily to substantially higher FDIC assessments coupled with legal and professional fees incurred in conjunction with a proposal to the shareholders to return to a private status at a special meeting to be held in December.



For the first nine months of 2009, net interest income increased to $5,023,000 from $4,479,000 in the comparable period in 2008. Average loans through the third quarter of 2009, when compared to the same period in 2008, grew to $116.0 million from $109.3 million, an increase of 6.13%. The average investment portfolio declined from a 2008 nine-month average balance of $32.0 million to a $30.5 million average through the third quarter of 2009, or an decrease of 4.69%. Average deposit growth through the nine months of 2009 has increased 11.74% or $12.9 million to $122.8 million over the same prior year period's average of $109.9 million. The Bank's prime based loan portfolio yields decreased 69 basis points when comparing the first nine months of 2009 to that period in 2008 while the investment portfolio in the same periods gained 72 basis points. Cumulatively, yields on earning assets decreased 32 basis points from a 2008 nine-month average of 6.86% to an average of 6.54% for the current year's same period. The cost of funds has plummeted for the nine months ended September 30, 2009 as a result of the current and prolonged low rate environment to a level of 2.42% or 97 basis points below the 3.39% level reported for the same period in 2008. With the cost of funds declining at a faster pace than earning assets, the net interest margin has expanded by 44 basis points to 4.52%.



Noninterest income, exclusive of securities transactions, rose 9.47% or $118,000 during the first nine months of 2009 to $1,364,000 when compared to $1,246,000 for the same period in 2008. Service charges posted higher results with a $17,000 or 2.66% increase when comparing the first nine months of 2009 to that of 2008. In comparing these same two periods, the mortgage originations department climbed $88,000 or 25.73%. Other noninterest income increased by $13,000 from the level recorded through the third quarter on 2008. Noninterest expense increased $444,000 or 9.91% to $4,923,000 during the first three quarters of 2009 from $4,479,000 for the same period in 2008. Separately within this category, salaries and benefits rose 5.13% or $140,000 while occupancy and furniture & equipment expenses increased $20,000 or 3.13%. Other operating expenses through September 30, 2009 grew $284,000 or 25.49% to a level of $1,398,000, again a result of FDIC increases and legal expenses associated with the pending proposal to return to a private company status.



Richard M. Liles, President and Chief Executive Officer, stated, "We continue to see strong core growth in our market area over which we are very pleased. The local economy has been spared the most devastating effects of the severe economic downturn of the last two years; however, certain credit relationships had become distressed during the third quarter. As a result, certain charges were taken against the reserve for debts that had impairments and doubtful collectability. Current indications are that the economy has reached, or is very near to, the bottom of the current recessionary period, and, as such, we felt it prudent to replenish and bolster the reserve for loan losses to a heightened level. While we certainly dislike reporting our first quarterly loss in over twenty years, we remain profitable for the year and move forward much more prepared to better manage and maintain a strong level of asset quality."



Bank of McKenney is a full-service community bank headquartered in McKenney, Virginia with six branches serving Southeastern Virginia.



Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in Bank of McKenney's filings with the Board of Governors of the Federal Reserve.





BANK OF MCKENNEY AND SUBSIDIARY
Consolidated Balance Sheets Summary Data
September 30, 2009 (unaudited) and December 31, 2008

September 30, December 31,
2009 2008
ASSETS ---- ----

Cash and due from banks $6,523,004 $6,847,451
Federal funds sold 3,126,000 858,000
Interest-bearing time deposits in banks 2,000,000 1,540,252
Securities available for sale,
at fair market value 28,877,800 28,998,239
Securities held to maturity, at book value 3,931,527 956,448
Restricted investments 794,725 789,525
Loans, net 118,814,971 110,648,780
Land, premises and equipment, net 7,999,546 8,185,167
Other real estate owned 495,206 -
Other assets 6,622,023 6,637,962
--------- ---------
Total Assets $179,184,802 $165,461,824
============ ============

LIABILITIES

Deposits $155,757,646 $142,892,823
Borrowed Funds 3,083,333 3,333,333
Other liabilities 1,608,974 1,868,046
--------- ---------
Total Liabilities $160,449,953 $148,094,202
------------ ------------

SHAREHOLDERS' EQUITY

Total shareholders' equity $18,734,849 $17,367,622
----------- -----------
Total Liabilities and
Shareholders' Equity $179,184,802 $165,461,824
============ ============



BANK OF MCKENNEY AND SUBSIDIARY
Consolidated Statements of Income Summary Data
(unaudited)

Three Months Ended Nine Months Ended
September 30, September 30,
2009 2008 2009 2008

Interest and dividend
income $2,442,495 $2,543,513 $7,305,523 $7,564,813
Interest expense 746,249 961,292 2,282,692 3,085,895
--------- --------- --------- ---------
Net interest income $1,696,246 $1,582,221 $5,022,831 $4,478,918
Provision for loan
losses 1,150,000 50,000 1,473,000 210,000
Net interest income
after provision
for loan losses $ 546,246 $1,532,221 $3,549,831 $4,268,918
--------- --------- --------- ---------

Noninterest income $ 536,455 $ 418,944 $1,434,215 $1,495,923
Noninterest expense 1,760,248 1,518,560 4,922,613 4,479,304
--------- --------- --------- ---------
Net noninterest
expense 1,223,793 1,099,616 3,488,398 2,983,381
--------- --------- --------- ---------
Net income before
taxes $ (677,547) $ 432,605 $ 61,433 $1,285,537
Income taxes (195,097) 128,032 4,339 367,052
--------- --------- --------- ---------
Net income $ (482,450) $ 304,573 $ 57,094 $ 918,485
========= ========= ========= =========
Basic & diluted
earnings per share $ (0.25) $ 0.16 $ 0.03 $ 0.48
========= ========= ========= =========
Weighted average
shares outstanding 1,926,656 1,926,656 1,926,656 1,926,656
========= ========= ========= =========














SOURCE Bank of McKenney

[10 bagger]

SDBK..Earnings..$12.25

San Diego Trust Bank Q3 Earnings Climb 48% over Prior Year

Business Wire - Oct 13 at 09:08 NONE

Company Symbols: NASDAQ-OTCBB:SDBK


Bank Posts Record 20th Consecutive Quarterly Profit

Total Assets Grow 22% and Reach Record High of $130 Million

SAN DIEGO--(BUSINESS WIRE)-- San Diego Trust Bank (OTCBB: SDBK) known for its consistently solid performance, reported its 20th consecutive quarterly profit with Q3 earnings up 48% from the comparable period of a year ago. Net earnings after-tax totaled $166 thousand for the quarter ending September 30, 2009 compared to $112 thousand for the same period last year.

The Bank reported year-to-date Net Income of $434 thousand compared to $412 thousand last year despite having to absorb more than a three-fold increase in FDIC insurance premiums and a special assessment which was levied against the entire industry earlier this year. The Bank's FDIC Insurance premium expense was $136 thousand for the nine months ending 9/30/09 compared to just $43 thousand for the comparable period last year.

"The Bank's ability to report increased earnings despite the significant increase in deposit insurance premiums this past year is a testament to the strength of our core earnings and the efforts of our entire team," commented Michael Perry, Chairman, President and CEO. "We continue to be on track for one of our best years ever as individuals and businesses alike recognize the strength and stability of our institution and seek a 'safe-haven' in the continued turmoil in the banking industry," Perry continued.

Total Assets stood at a record $130.8 million, up 22% from the prior year's figures. Total Deposits also reached a new all-time high of $109 million as of 9/30/09, compared to $88 million a year ago. Core deposits (DDA and money market accounts) represented 85% of all deposits as of 9/30/09. The Bank has never held any "brokered" deposits.

As of September 30, 2009 the Bank's Tier 1 Risk Based capital ratio of 20.15% was among the highest in the nation and more than three times the amount needed to be considered "well-capitalized" by regulatory definition. The Bank has never invested in preferred stock of any entity, including Freddie Mac or Fannie Mae, and as such its capital position is not impaired in any way.

The Bank's actual capital ratios as of 9/30/09 are summarized as follows:


Well-Capitalized San Diego Trust Bank

Regulatory Standards As of 9/30/09

Tier 1 Leverage 5.00 % 12.74 %

Tier 1 Risk Based 6.00 % 20.15 %

Total Risk Based 10.00 % 21.41 %

[10 bagger]

MNRK..$7.15.. Great earnings..

Monarch Financial Reports Record Profits And New Hilltop Banking Office

PR Newswire - Oct 15 at 16:36 NONE

Company Symbols: NASDAQ-SMALL:MNRK

CHESAPEAKE, Va., Oct. 15 /PRNewswire-FirstCall/ -- Monarch Financial Holdings, Inc. (Nasdaq: MNRK), the bank holding company for Monarch Bank, reported the best third quarter and nine month profits in the company's history. Net income was $1,153,699 for the third quarter of 2009, up 49.4% from the same period in 2008 when net income was $772,333. The quarterly annualized return on average equity (ROE) was 7.25%, and the annualized return on average assets (ROA) was 0.74%. Quarterly basic and diluted earnings per share were $0.17, a 21.4% improvement over the third quarter of 2008 when basic and diluted earnings per share were $0.14.

For the first nine months of 2009 net income was a record $3,633,562 compared to $2,667,561 for the same period in 2008, a 36.3% increase. The nine month annualized return on average equity (ROE) was 7.84 %, and the annualized return on average assets (ROA) was 0.75%. Year-to-date 2009 diluted earnings per share were $0.53, compared to $0.51 the previous year, despite the issuance of additional shares in June of 2008.

"I am pleased to again report record earnings that were achieved despite the challenges of this very tough economy. We improved our banking operations during the quarter and have had a great year of performance from our mortgage businesses. We continue to produce record profits despite significant expense increases including higher provision for loan loss expenses and much higher FDIC deposit insurance expenses," stated Brad E. Schwartz, Chief Executive Officer of Monarch Bank. "Our asset quality remains significantly better than our local and national peers, and our capital accounts are strong. In the past year we have created 91 net new jobs, which we feel is critical to improving the economy. Our talented people, capital strength and deposit base have allowed us to continue to lend and grow in all our communities."

The company also announced a new banking office in the Hilltop/First Colonial area of Virginia Beach, which is the top deposit market in the city. E. Neal Crawford, President of Monarch Bank, stated, "We are excited to soon have an office in not only the largest deposit market in Virginia Beach, but also in one of the top growing markets. This puts us in the center of the major retail, business, medical and professional corridor of northeastern Virginia Beach. Our new office will be located at 1635 Laskin Road and will open in the first quarter of 2010."

Total assets at September 30, 2009 grew to $651.8 million, up $57.0 million or 9.6% from the same period in 2008. Total loans held for investment increased $21.3 million to $522.3 million, up 4.2% from the same period in 2008. Loans held for sale through our mortgage operations increased $34.8 million to $71.2 million, up 95.7% from the same period in 2008. Deposits increased $41.4 million to $540.1 million, up 8.3% from the same period in 2008. Lower cost demand deposit accounts represent 19% of total deposits.

Non-performing assets were $8,765,000 or 1.34 % of total assets as of September 30, 2009, an increase from 0.76% of total assets at June 30, 2009, but in line with 1.35% reported at December 31, 2008. The increase for the quarter was primarily due to two relationships, with potential losses accounted for in our allowance for loan losses. Non-performing assets consist of $837,000 in loans 90 days or more past due and still accruing interest, $6,851,000 in non-accrual loans and seven residential properties totaling $1,077,000 carried in Other Real Estate Owned.

Our allowance for loan losses as of September 30, 2009 represents 1.83% of total loans, up significantly from 1.00% one year prior. Management continues to aggressively build the allowance for loans losses and manage non-performing assets. All Other Real Estate Owned as of June 30, 2009 has been sold except for one parcel carried at $67,000, which is under contract for sale and expected to close in October. Two of the remaining six properties held as Other Real Estate Owned are already under contract to close in the fourth quarter.

The Company's capital position remains extremely strong with total capital of $63.5 million and regulatory capital of $78.7 million at September 30, 2009. Regulatory capital includes $10 million in trust preferred subordinated debt and the majority of the allowance for loan losses. Monarch is rated as "Well Capitalized," the highest rating of capital strength by bank regulatory standards, with total risk based capital to total assets of 13.94%, up 15.1% from one year prior. On October 14, 2009, Monarch announced the filing of a registration statement with the U.S. Securities and Exchange Commission in connection with a proposed public offering of 650,000 shares of noncumulative convertible perpetual preferred stock with a public offering price and liquidation value of $25.00 per share.

During the first nine months of 2009, the Company paid $557,375 in dividends directly to the US Treasury for the $14.7 million investment by the Capital Purchase Program last December. Despite this dividend payment in 2009, the company was able to report an increase in both quarterly and year to date earnings per share. Monarch has used the Capital Purchase Program funds primarily to support growth in funding mortgage loans, and since receipt of the funds last December has funded over $965 million in residential mortgage loans.

Net interest income increased 28.6% or $3.5 million in 2009, due to higher balances in both loans held for investment and in loans held for sale, as well as a major decline in our cost of funds. The net interest margin was 3.60% for the third quarter of 2009 compared to 3.18% for the same period in 2008. Improved market and risk-based loan pricing coupled with major declines in the cost of deposits continued to improve net interest income. We do anticipate improved asset yields and further declines in funding costs as the majority of our time deposits reprice to lower market rates.



Non-interest income grew 81.3% during 2009 compared to the same period in 2008, fueled by increased production at Monarch Mortgage. Monarch Mortgage closed $265 million in mortgage loans during the third quarter of 2009, and $904 million for the first nine months of 2009, which is greater than all the loans closed for the entire year in 2008. For the third quarter of 2009 mortgage loan applications were $406 million. Monarch Mortgage is focused on the retail A-paper mortgage market and does not originate sub-prime mortgages or purchase loans in the wholesale mortgage market. Non-interest income represented 52.5% of total revenues in 2009, compared to 38.5% in 2008.



Non-interest expense grew 52.2% due to increased mortgage commission expense, FDIC insurance expense, legal expenses related to loan collections, and general expansion. Our largest non-interest expense percentage increase for 2009 is our FDIC deposit insurance premiums and special assessments, which was up $874,545 or 414.1% in 2009 compared to the same nine months of 2008.

Monarch Financial Holdings, Inc. is the one-bank holding company for Monarch Bank. Monarch Bank is a community bank with two offices in Chesapeake, four offices in Virginia Beach, and two offices in Norfolk, Virginia. OBX Bank, a division of Monarch Bank, operates one office in Kitty Hawk, North Carolina. Services are also provided through over fifty ATMs located in the South Hampton Roads area and the Outer Banks of North Carolina, and "Monarch Online" consumer and business internet banking (monarchbank.com and OBXBank.com). Monarch Mortgage and our affiliated mortgage companies have eighteen offices with locations in Chesapeake, Norfolk, Virginia Beach (2), Fredericksburg, Suffolk, and Richmond, Virginia as well as Rockville (2), Bowie, Waldorf, Crofton, Gaithersburg and Greenbelt, Maryland, and Kitty Hawk, Charlotte, and Wilmington, North Carolina and Greenwood, South Carolina. Our subsidiaries/divisions include Monarch Bank, OBX Bank, Monarch Mortgage (secondary mortgage origination), Coastal Home Mortgage, LLC (secondary mortgage origination), Home Mortgage Solutions, LLC (secondary mortgage origination), Monarch Investments (investment and insurance solutions), Real Estate Security Agency, LLC (title agency) and Monarch Capital, LLC (commercial mortgage brokerage). The shares of Monarch Financial Holdings, Inc. are publicly traded on the Nasdaq Capital Market under the symbol "MNRK".

This press release may contain "forward-looking statements," within the meaning of federal securities laws that involve significant risks and uncertainties. Statements herein are based on certain assumptions and analyses by the Company and are factors it believes are appropriate in the circumstances. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: changes in interest rates; changes in accounting principles, policies, or guidelines; significant changes in the economic scenario: significant changes in regulatory requirements; and significant changes in securities markets. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and the cautionary language in the Company's most recent Form 10-K and 10-Q reports and other documents filed with the Securities and Exchange Commission. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.



Consolidated Balance Sheets
Monarch Financial Holdings, Inc. and Subsidiaries
(In thousands)
Unaudited

September
2009 2008
---- ----
ASSETS:
Cash and due from banks $14,004 $14,060
Interest bearing bank balances 4,407 94
Federal funds sold 7,749 -

Investment securities:
Securities available for sale 5,762 17,290
Securities held to maturity 500 500
--- ---
Total investment securities 6,262 17,790
----- ------

Mortgage loans held for sale 71,232 36,395

Loans 522,333 501,052
Less: allowance for loan losses (9,550) (4,991)
------ ------
Net loans 512,783 496,061
------- -------

Bank premises and equipment 8,253 8,574
Restricted equity securities 7,017 3,757
Bank owned life insurance 6,981 6,724
Goodwill 775 775
Intangible assets 863 1,042
Accrued interest receivable and other assets 11,448 9,562
------ -----

Total assets $651,774 $594,834
======== ========

LIABILITIES:
Demand deposits--non-interest bearing $84,389 $73,379
Demand deposits--interest bearing 19,171 16,873
Money market deposits 139,115 110,475
Savings deposits 27,684 14,295
Time deposits 269,732 283,682
------- -------
Total deposits 540,091 498,704

FHLB borrowings 33,082 31,700
Federal funds purchased - 4,790
Trust preferred subordinated debt 10,000 10,000
Accrued interest payable and other liabilities 5,133 3,237
----- -----
Total liabilities 588,306 548,431
------- -------

STOCKHOLDERS' EQUITY:
Preferred stock, $5 par value, 1,985,300 shares
authorized, none issued - -
Cumulative perpetual preferred stock, series A,
$1,000 par value, 14,700 issued and outstanding 14,511 -
Common stock, $5 par, 20,000,000 shares
authorized, issued 5,792,914 shares outstanding
at September 30, 2009 and 5,688,580 shares
outstanding at September 30, 2008 28,965 28,443
Capital in excess of par value 8,230 7,810
Retained earnings 11,603 10,087
Accumulated other comprehensive income 56 (47)
-- ---
Total Monarch Financial Holdings, Inc.
stockholders' equity 63,365 46,293
Noncontrolling interest 103 110
--- ---
Total equity 63,468 46,403
------ ------

Total liabilities and stockholders' equity $651,774 $594,834
======== ========



Consolidated Statements of Income
Monarch Financial Holdings, Inc. and Subsidiaries
Unaudited

Three Months Ended Nine Months Ended
September 30 September 30
2009 2008 2009 2008
---- ---- ---- ----
INTEREST INCOME:
Interest on federal funds
sold $6,728 $5,560 $9,987 $17,444
Interest on other bank
accounts 494 10,060 1,902 65,040
Dividends on restricted
securities 41,705 41,852 80,553 162,206
Interest and dividends on
investment securities 53,794 141,123 181,539 367,649
Interest and fees on
loans 7,960,150 7,670,563 23,772,474 22,822,737
--------- --------- ---------- ----------
Total interest
income 8,062,871 7,869,158 24,046,455 23,435,076
--------- --------- ---------- ----------
INTEREST EXPENSE:
Interest on deposits 2,184,747 2,962,457 7,149,718 9,471,758
Interest on trust
preferred subordinated
debt 56,158 112,460 205,216 384,789
Interest on other
borrowings 285,887 435,059 864,998 1,272,451
------- ------- ------- ---------
Total interest
expense 2,526,792 3,509,976 8,219,932 11,128,998
--------- --------- --------- ----------
NET INTEREST INCOME 5,536,079 4,359,182 15,826,523 12,306,078
PROVISION FOR LOAN LOSSES 1,546,788 480,581 4,084,936 1,244,613
--------- ------- --------- ---------

NET INTEREST INCOME AFTER
PROVISION FOR LOAN LOSSES 3,989,291 3,878,601 11,741,587 11,061,465
--------- --------- ---------- ----------

NON-INTEREST INCOME:
Service charges on
deposit accounts 395,981 357,395 1,052,808 1,021,517
Mortgage banking income 7,975,961 3,988,190 23,902,036 11,995,944
Investment and insurance
commissions 163,761 294,671 677,433 991,095
Security gains, net - - - 10,801
Other income 94,676 173,174 928,772 631,621
------ ------- ------- -------
Total non-interest
income 8,630,379 4,813,430 26,561,049 14,650,978
--------- --------- ---------- ----------
NON-INTEREST EXPENSE:
Salaries and employee
benefits 7,389,031 4,714,837 22,354,849 14,222,938
Occupancy and equipment 982,943 876,062 2,793,119 2,544,368
Loan Expense 1,067,668 386,727 2,574,562 1,311,311
Data processing 186,930 156,888 600,581 489,318
FDIC Insurance 255,000 95,940 1,085,755 211,210
Other expenses 941,997 1,183,471 3,258,306 2,679,800
------- --------- --------- ---------
Total non-interest
expense 10,823,569 7,413,925 32,667,172 21,458,945
---------- --------- ---------- ----------

INCOME BEFORE TAXES 1,796,101 1,278,106 5,635,464 4,253,498
Income tax provision 619,870 412,700 1,833,770 1,327,500
------- ------- --------- ---------
NET INCOME 1,176,231 865,406 3,801,694 2,925,998

Less: Net income
attributable to
noncontrolling
interest (22,532) (93,073) (168,132) (258,437)
------- ------- -------- --------

NET INCOME ATTRIBUTABLE
TO MONARCH FINANCIAL
HOLDINGS, INC. $1,153,699 $772,333 $3,633,562 $2,667,561
---------- -------- ---------- ----------

Preferred stock dividend
and accretion of preferred
stock discount 197,766 - 586,807 -
------- --- ------- ---
NET INCOME AVAILABLE TO
COMMON STOCKHOLDERS $955,933 $772,333 $3,046,755 $2,667,561
======== ======== ========== ==========
NET INCOME PER COMMON SHARE:
Basic $0.17 $0.14 $0.54 $0.52
Diluted $0.17 $0.14 $0.53 $0.51



Financial Highlights
Monarch Financial Holdings, Inc. and Subsidiaries

(Dollars in thousands,
except per share data)
Three Months Ended
September 30
2009 2008 Change
---- ---- ------
EARNINGS
Interest Income $8,063 $7,869 2.5%
Interest expense 2,527 3,510 (28.0)
Net interest income 5,536 4,359 27.0
Provision for loan losses 1,547 481 221.6
Noninterest income 8,630 4,814 79.3
Noninterest expense 10,824 7,414 46.0
Pre-tax net income 1,795 1,278 40.5
Minority interest in net income 23 93 (75.3)
Income taxes 619 413 49.9
Net income 1,153 772 49.4

PER COMMON SHARE
Earnings per share - basic $0.17 $0.14 21.4%
Earnings per share - diluted 0.17 0.14 21.4

FINANCIAL RATIOS
Return on average assets 0.74% 0.53% 39.6%
Return on average stockholders' equity 7.25 6.67 8.7
Net interest margin (FTE) 3.60 3.18 13.2
Non-interest revenue/Total revenue 51.7 38.0 36.1
Efficiency - Consolidated 76.1 80.3 (5.2)
Efficiency - Bank only 49.7 75.1 (33.8)
Average equity to average assets 10.18 7.90 28.9

AVERAGE BALANCES
Total loans $519,461 $496,082 4.7%
Interest-earning assets 622,856 555,671 12.1
Assets 619,701 582,623 6.4
Total deposits 514,189 464,878 10.6
Other borrowings 59,711 66,068 (9.6)
Stockholders' equity 63,079 46,050 37.0

ALLOWANCE FOR LOAN LOSSES
Beginning balance $9,030 $4,621 95.4%
Provision for loan losses 1,547 481 221.6
Charge-offs 1,050 138 660.9
Recoveries 23 27 (14.8)
Ending balance 9,550 4,991 91.3
Net charge-off loans to average loans 0.20 0.02 783.6



Nine Months Ended
September 30
2009 2008 Change
---- ---- ------
EARNINGS
Interest Income $24,046 $23,435 2.6%
Interest expense 8,220 11,129 (26.1)
Net interest income 15,826 12,306 28.6
Provision for loan losses 4,085 1,245 228.1
Noninterest income 26,561 14,651 81.3
Noninterest expense 32,667 21,459 52.2
Pre-tax net income 5,635 4,253 32.5
Minority interest in net income 168 258 (34.9)
Income taxes 1,833 1,328 38.0
Net income 3,634 2,667 36.3

PER COMMON SHARE
Earnings per share - basic $0.54 $0.52 3.8%
Earnings per share - diluted 0.53 0.51 3.9
Book value 8.42 8.16 3.2
Tangible book value 8.14 8.16 (0.2)
Closing market price (adjusted) 7.45 7.70 (3.2)

FINANCIAL RATIOS
Return on average assets 0.75% 0.65% 15.4%
Return on average stockholders' equity 7.84 8.79 (10.8)
Net interest margin (FTE) 3.49 3.20 9.1
Non-interest revenue/Total revenue 52.5 38.5 36.4
Efficiency - Consolidated 76.8 79.1 (2.9)
Efficiency - Bank only 57.1 75.5 (24.4)
Average equity to average assets 9.62 7.40 30.0
Total risk based capital -
Consolidated 13.94 12.11 15.1
Total risk based capital - Bank only 11.36 12.11 (6.2)

PERIOD END BALANCES
Total loans held for sale $71,232 $36,395 95.7%
Total loans held for investment 522,333 501,052 4.2
Interest-earning assets 625,981 565,812 10.6
Assets 651,774 594,834 9.6
Total deposits 540,091 498,704 8.3
Other borrowings 43,082 46,490 (7.3)
Stockholders' equity 63,468 46,403 36.8

AVERAGE BALANCES
Total loans $512,639 $468,461 9.4%
Interest-earning assets 620,000 523,462 18.4
Assets 644,363 547,479 17.7
Total deposits 506,890 442,371 14.6
Other borrowings 66,246 66,068 0.3
Stockholders' equity 61,967 40,516 52.9

ALLOWANCE FOR LOAN LOSSES
Beginning balance $8,046 $3,976 102.4%
Provision for loan losses 4,085 1,245 228.1
Charge-offs 2,662 294 805.4
Recoveries 81 64 26.6
Ending balance 9,550 4,991 91.3
Net charge-off loans to average loans 0.50 0.05 925.5

ASSET QUALITY RATIOS
Nonperforming assets to total assets 1.34% 0.89% 45.0 bp
Allowance for loan losses to total
loans 1.83 1.00 82.8 bp
Allowance for loan losses to
nonperforming loans 124.22 101.92 21.9%

COMPOSITION OF RISK ASSETS
Nonperforming loans:
90 days past due $837 $931 (10.1)%
Nonaccrual 6,851 3,966 72.7
OREO 1,077 410 162.7
----- ---
Nonperforming assets 8,765 5,307 65.2%
===== =====

bp - Change is measured as difference in basis points.






SOURCE Monarch Financial Holdings, Inc.

[10 bagger]

NIDB.. $9.25 Earnings.. WOW!!!!!! $518,000 Vrs. $453,000...After taking into account (A) w/o for the same period of last year..

Northeast Indiana Bancorp, Inc. Posts Strong Third Quarter Earnings..

HUNTINGTON, Ind., Oct. 13 /PRNewswire-FirstCall/ -- Northeast Indiana Bancorp, Inc. (OTC Bulletin Board: NIDB - News), the parent company of First Federal Savings Bank, today announced net income of $518,000 ($0.42 per diluted common share) for the Company's third quarter ended September 30, 2009 compared to a net loss of ($967,000) ($0.79 per diluted common share) for the third quarter ended September 30, 2008. (A)The prior year quarterly period contained non-cash other than temporary impairment ("OTTI") write-downs of $1.7 million taken on FHLMC Preferred Shares and in the bank's investment in the Shay Ultrashort Mortgage Fund as well as specific reserves established of $280,000 on four real estate owned properties. The current three months earnings equates to an annualized return on average assets (ROA) of 0.82% and a return on average equity (ROE) of 9.20%.

Net interest income increased sharply by $341,000 or 19.4% to $2.1 million for the quarter ended September 30, 2009 when compared to $1.8 million for the quarter ended September 30, 2008. The Company's net interest margin increased significantly by sixty-five basis points to 3.53% for the current quarter compared to 2.88% in the year earlier quarter. On a linked quarter basis, the Company's 3.53% net interest margin was ten basis points higher during the current quarter ended September 30, 2009 compared to 3.43% during the quarter ended June 30, 2009.

The Company made a $350,000 provision for loan loss during the quarter ended September 30, 2009 compared to a $100,000 provision for loan loss for the quarter ended September 30, 2008. Management continues to feel it is prudent to increase the allowance for loan losses by setting aside provisions for loan losses at higher levels during these uncertain economic conditions. The Company experienced net charge-offs of $89,000 for the quarter ended September 30, 2009 compared to net charge-offs of $1.4 million for the quarter ended September 30, 2008.

Noninterest income increased to $669,000 for the third quarter ended September 30, 2009 compared to ($1.2 million) during the quarter ended September 30, 2008. The significant increase is mostly due to the OTTI write-downs discussed above on FHLMC preferred shares and the Shay fund during the prior quarterly period. Net gain on the sale of loans also increased $177,000 or 316.4% to $233,000 during the quarter ended September 30, 2009 due to increased sales volumes to FHLMC and the SBA.

Noninterest expense decreased $68,000 from $1.7 million for the quarter ended September 30, 2008 to $1.6 million for the quarter ended September 30, 2009. The decrease was mostly due to no valuation allowances on repossessed assets for the current quarterly period compared to $280,000 during the three months ended September 30, 2008.

This sharp reduction was partially offset by increases in occupancy, wages, professional fees and FDIC insurance premiums between quarterly periods. Wages and occupancy increases were related to the opening of the bank's fifth full service branch in Fort Wayne, Indiana during the current quarter as well as an increase in property taxes on existing branches.

Net income for the nine months ended September 30, 2009 increased to $1.5 million ($1.24 per diluted common share) compared to a net loss of ($200,000) ($0.16 per diluted common share) for the nine months ended September 30, 2008. This increase is mostly due to the non-cash OTTI charges taken during the quarter ended September 30, 2008 as discussed above. Net interest income increased $1.2 million or 25.5% to $6.1 million for the nine months ended September 30, 2009 compared to $4.9 million for the prior year nine month period. Noninterest income increased sharply due to the OTTI charges in the prior year period but net gain on sale of loans also increased $552,000 or 500% between periods. Noninterest expense was higher for the nine months ended September 30, 2009 primarily due to the sharp increase of $256,000 or 366% in FDIC insurance premiums between nine month periods. Most noninterest expense increases were partially offset by a reduction in valuation allowances on repossessed assets of $360,000 during the prior year nine month period.

Total assets decreased $12.7 million or 4.9% to $247.5 million at September 30, 2009 compared to December 31, 2008 assets of $260.2 million. The asset decline is primarily due to large noninterest bearing funds on hand at year end 2008 clearing early in first quarter 2009 as well as a reduction in single family portfolio mortgage balances due to most fixed rate originations being sold servicing retained to FHLMC. Net loans decreased $7.1 million to $197.1 million at September 30, 2009 compared to $204.2 million at December 31, 2008. Total deposits increased $2.4 million to $158.1 million at September 30, 2009 from $155.7 million at December 31, 2008. Borrowed funds decreased $15.7 million to $64.3 million at September 30, 2009 compared to $80.0 million at December 31, 2008. Proceeds from the sale of fixed rate mortgages to FHLMC were used to pay down borrowed funds.

Shareholders' equity at September 30, 2009 was $22.9 million compared to $21.8 million at December 31, 2008. The book value of NEIB's stock was $18.60 per common share as of September 30, 2009. The number of outstanding common shares was 1,230,670. The last reported trade of the stock on October 12, 2009 was $9.25 per common share.

Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street, Huntington, Indiana. The company offers a full array of banking and financial brokerage services to its customers through its main office in Huntington and four full-service Indiana offices in Huntington (2), Warsaw and Fort Wayne. The Company is traded on the Over the Counter Bulletin Board under the symbol "NIDB". Our web site address is www.firstfedindiana.com.

This press release may contain forward-looking statements, which are based on management's current expectations regarding economic, legislative and regulatory issues. Factors which may cause future results to vary materially include, but are not limited to, general economic conditions, changes in interest rates, loan demand, and competition. Additional factors include changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, regulatory and technological factors affecting each company's operations, pricing, products and services.



NORTHEAST INDIANA BANCORP
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
------------------------------------------------------------------------
CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

ASSETS September 30, December 31,
2009 2008
------------- -------------
Interest-earning cash and cash equivalents $1,957,446 $6,122,439
Noninterest earning cash and
cash equivalents 1,732,062 2,284,062
------------- -------------
Total cash and cash equivalents 3,689,508 8,406,501
Securities available for sale 32,545,085 33,022,602
Securities held to maturity 550,000 550,000
Loans held for sale 168,000 709,400
Loans receivable, net of allowance for loan
loss September 30, 2009 $2,422,874 and
December 31, 2008 $1,750,605 197,114,642 204,171,179
Accrued interest receivable 1,012,825 1,070,708
Premises and equipment 2,181,119 2,178,416
Investments in limited liability
partnerships 353,802 462,279
Cash surrender value of life insurance 6,442,915 6,253,417
Other assets 3,457,262 3,415,020
------------- -------------
Total Assets $247,515,158 $260,239,522
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY
Non-interest bearing deposits 9,758,793 19,873,896
Interest bearing deposits 148,356,373 135,824,869
Borrowed Funds 64,268,992 79,982,575
Accrued interest payable and other
liabilities 2,238,087 2,782,849
------------- -------------
Total Liabilities 224,622,245 238,464,189
------------- -------------

Retained earnings - substantially
restricted 22,892,913 21,775,333
------------- -------------
Total Liabilities and
Shareholders' Equity $247,515,158 $260,239,522
============= =============
------------------------------------------------------------------------



CONSOLIDATED STATEMENTS OF INCOME

Three Months Ended Nine Months Ended
September 30, September 30,
2009 2008 2009 2008
---- ---- ---- ----
Total interest income $3,462,834 $3,663,318 $10,446,720 $10,825,370
Total interest expense 1,369,172 1,910,458 4,351,652 5,968,852
------------------------------------------------------------------------
Net interest income $2,093,662 $1,752,860 $6,095,068 $4,856,518
------------------------------------------------------------------------
Provision for loan
losses 350,000 100,000 925,000 280,000
Net interest income
after provision for
loan losses $1,743,662 $1,652,860 $5,170,068 $4,576,518
Service charges on
deposit accounts 188,516 193,025 519,706 531,391
Net (loss) on sale of
securities (37,346) (31,140) (84,135) (18,726)
Other than temporary
impairment-securities - (1,677,916) - (1,677,916)
Net gain on sale of
loans 232,774 55,903 662,010 110,390
Net (loss) on sale of
repossessed assets (33,064) (5,822) (126,656) (15,554)
Brokerage fees 77,279 97,438 215,690 303,449
Increase in cash
surrender value of
life insurance 61,626 60,744 189,499 184,443
Other income 179,317 150,412 493,521 439,605
------------------------------------------------------------------------
Total noninterest income $669,102 $(1,157,356) $1,869,635 $(142,918)
------------------------------------------------------------------------
Salaries and employee
benefits 817,746 752,334 2,314,347 2,314,924
Occupancy 234,574 168,315 629,670 566,815
Data processing 181,915 168,506 566,629 501,061
Deposit insurance
premiums 90,000 62,188 326,000 69,954
Professional fees 89,276 44,930 202,156 117,756
Correspondent bank
charges 28,729 30,837 91,448 101,867
Valuation allowances -
repossessed assets - 280,000 - 360,000
Other expense 204,388 207,471 644,631 625,465
------------------------------------------------------------------------
Total noninterest
expenses $1,646,628 $1,714,581 $4,774,881 $4,657,842
------------------------------------------------------------------------
Income/(Loss) before
income tax expense $766,136 $(1,219,077) $2,264,822 $(224,242)
------------------------------------------------------------------------
Income tax
expense/(benefit) 248,048 (252,543) 737,567 (24,003)
Net Income/(Loss) $518,088 $(966,534) $1,527,255 $(200,239)
========================================================================


NORTHEAST INDIANA BANCORP
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

Three Months Ended Nine Months Ended
September 30, September 30,
2009 2008 2009 2008
---- ---- ---- ----
Basic Earnings per
common share 0.42 (0.79) 1.24 (0.16)
Dilutive Earnings per
share 0.42 (0.79) 1.24 (0.16)
Net interest margin 3.53% 2.88% 3.45% 2.76%
Return on average assets 0.82% (1.49%) 0.81% (0.11%)
Return on average equity 9.20% (18.00%) 9.17% (1.19%)
Efficiency ratio 59.60% 287.92%(2) 59.95% 98.82%(2)
Average shares
outstanding- primary 1,228,539 1,226,989 1,228,060 1,265,799
Average shares
outstanding- diluted 1,228,615 1,226,989 1,228,780 1,265,799
------------------------------------------------------------------------

Allowance for loan losses:
Balance at beginning of
period $2,161,415 $2,855,624 $1,750,605 $2,712,378
Charge-offs:
One-to-four family 9,695 32,616 203,962 32,616
Commercial real
estate - 1,469,710 - 1,469,710
Commercial 59,834 107,041 74,192 291,764
Consumer 26,493 13,283 144,030 25,275
-------------------------------------------------
Gross charge-offs 96,022 1,622,651 422,184 1,819,365
-------------------------------------------------
Recoveries:
One-to-four family 625 - 1,755 -
Commercial real
estate - 226,858 - 226,588
Commercial - 18,130 136,635 150,964
Consumer 6,856 13,243 31,063 40,639
-------------------------------------------------
Gross recoveries 7,481 258,231 169,453 418,191
-------------------------------------------------
Net charge-offs 88,541 1,364,420 252,731 1,401,174
Additions charged to
operations 350,000 100,000 925,000 280,000
-------------------------------------------------
Balance at end
of period $2,422,874 $1,591,204 $2,422,874 $1,591,204
=================================================
Net loan charge-offs
to average loans (1) 0.18% 2.71% 0.17% 0.94%
------------------------------------------------------------------------

Nonperforming assets At Sept. 30, At Sept. 30, At June 30, At Dec. 30,
(000's) 2009 2008 2009 2008
Loans: ---- ---- ---- ----
Non-accrual $2,251 $1,887 $2,501 $1,570
Past 90 days or more
and still accruing - - - -
Troubled debt
restructured 3,000 - 1,622 -
-------------------------------------------------
Total nonperforming
loans 5,251 1,887 4,123 1,570
Real estate owned 1,556 1,242 1,498 1,423
Other repossessed assets 7 7 1 8
-------------------------------------------------
Total nonperforming
assets $6,184 $3,136 $5,622 $3,001
=================================================

Nonperforming assets to
total assets 2.75% 1.22% 2.28% 1.15%
Nonperforming loans to
total loans 2.63% 0.93% 2.06% 0.76%
Allowance for loan
losses to nonperforming
loans 46.14% 84.31% 52.41% 111.53%
Allowance for loan losses
to net loans receivable 1.21% 0.78% 1.09% 0.86%
------------------------------------------------------------------------


At September 30,
2009 2008
---- ----

Stockholders' equity as a %
of total assets 9.25% 8.37%
Book value per share $18.60 $17.47
Common shares outstanding- EOP 1,230,670 1,230,670

(1) Ratios for the three-month periods are annualized.
(2) Core efficiency ratios were 75.42% for 3 months ended 9/30/08 and
72.88% for 9 months ended 9/30/08 without OTTI

[10 bagger]

Sold the following Small Banks this week..

Just don't like the possibility of advanced fee's imposed by the OBAMA administration.. But I did add to NIDB..

BKSC,, BORT,, MNRK,, SAVB,, SVBI,, UBOH.. hank

[10 bagger]

BKSC.. $12.50..SOLD..

Bank of South Carolina Corporation Announces Third Quarter Earnings

Oct 9, 2009 09:19:00 (ET)


CHARLESTON, S.C., Oct 09, 2009 /PRNewswire-FirstCall via COMTEX/ -- After allocating $1,110,000 to its Reserve for Loan Losses the Bank of South Carolina Corporation, (BKSC, Trade ) announced earnings for the third quarter of $136,521 compared to earnings of $712,072 for the three months ended September 30, 2008. Earnings for the nine months ended September 30, 2009, were $1,598,884 compared to $2,155,435 for the nine months ended September 30, 2008.

Hugh C. Lane, Jr., President and Chief Executive Officer of The Bank of South Carolina, stated, "The highlight of the year has been our loan and deposit growth. Loans have increased $38,175,353 or 21.62% from September 30, 2008 to September 30, 2009, while deposits have increased $28,310,808 or 13.69% during the same period. This growth alone is reason to strengthen our Reserve for Loan Losses, but when you factor in current economic conditions and the regulatory environment, raising our Reserve was the responsible thing to do. Doing so makes us a stronger bank."

Bank of South Carolina Corporation had total assets of $271,471,361 at the quarter ended September 30, 2009, compared to $235,269,398 at September 30, 2008, an increase of $36,201,963 or 15.39%.

Mr. Lane added, "Although this has been and remains a difficult economic environment, we are hearing encouraging comments from our customers. The Company's growth in 2009 gives us a better asset base to build on for 2010."

The Bank of South Carolina, a De Novo Charter, which opened in 1987 at 256 Meeting Street, has offices in Summerville, Mt. Pleasant, and the West Ashley community. Our website is www.banksc.com . Bank of South Carolina Corporation currently trades its common stock on the NASDAQ stock market under the symbol "BKSC". Select market makers for the stock for Bank of South Carolina Corporation are: Knight Equity Markets, LP, USB Securities, LLC, Citadel Derivatives Group, LLC and Automated Trading Desk.

[10 bagger]

MGLF.. $14.25

Malaga Financial Corporation Reports Record Quarterly Earnings and No Delinquent Loans or Non-Performing Assets


PALOS VERDES ESTATES, Calif., Oct 09, 2009 (BUSINESS WIRE) -- Malaga Financial Corporation (MLGF, Trade ), the parent company of Malaga Bank FSB, today reported that net income for the quarter ended September 30, 2009 was $2,501,000 ($0.44 basic and $0.43 fully diluted earnings per share), an increase of $718,000 or 40% from net income of $1,783,000 ($0.31 per share basic and fully diluted) for the quarter ended September 30, 2008. This was the highest quarterly net income in Malaga's history. Net income for the nine months ended September 30, 2009 was $7,130,000 ($1.24 basic and $1.23 fully diluted earnings per share) as compared to $5,146,000 ($0.90 basic and fully diluted earnings per share) for the nine months ended September 30, 2008, a 39% increase.

Net income increased primarily due to continued growth in interest earning assets and improvement in the interest rate spread.

Despite the continuing deterioration of the real estate market in Southern California, Malaga did not have any delinquent loans or non-performing assets at September 30, 2009. The Company's allowance for loan losses at September 30, 2009 was $2,834,000 or 0.37% of total loans.

Net interest income totaled $6,638,000 in the third quarter of 2009, up $1,392,000 or 27% from the third quarter of 2008. This increase resulted from a $61 million or 9% increase in average interest earning assets to $766 million and a 0.59% increase in the interest rate spread to 3.28%. The improvement in the interest rate spread was due to a 1.26% decline in the weighted average cost of funds, while the weighted average yield on interest earning assets declined only 0.66%. Malaga's liabilities reprice more rapidly than its interest earning assets, and thus Malaga will generally see an improvement in its interest rate spread during periods of declining market interest rates.

Non-interest expenses increased 11% in the third quarter of 2009, to $2,501,000 from $2,245,000 in the third quarter of 2008. The increase is primarily attributed to $162,000 increase in FDIC insurance premiums and $114,000 increase in compensation related costs.

Randy C. Bowers, President and CEO of Malaga, remarked, "We are pleased to continue to report record operating results, in spite of an extremely challenging environment for financial institutions. Our asset quality remains strong as a result of our prudent lending practices. For the seventh consecutive quarter, we have been designated a five-star rated bank, the highest rating available from BauerFinancial. We take pride in continuing to provide a strong and safe place to bank for our customers, shareholders and communities."

Malaga's total assets were $796 million at September 30, 2009 compared to $737 million at September 30, 2008, an increase of $59 million or 8%. The loan portfolio at September 30, 2009 was $760 million versus $702 million at September 30, 2008, an increase of $59 million. Malaga originates loans principally for its own portfolio and not for sale. At September 30, 2009, the loan portfolio was comprised of the following types of loans outstanding: multi-family loans -- 74%; single family residential loans -- 15%; commercial real estate loans -- 7%; home equity lines of credit -- 3%; and commercial and other loans - 1%.

Malaga funds its assets with a mix of deposits and FHLB borrowings. Retail deposits totaled $362 million as of September 30, 2009, up from $309 million at September 30, 2008, a 17% increase. Wholesale deposits and FHLB borrowings totaled $355 million at September 30, 2009 and 2008. The increase in total assets for the quarter was funded primarily by increase in retail deposits and earnings. The weighted average cost of funds for the third quarter of 2009 was 2.13% versus 3.31% for the third quarter of 2008.

Malaga's stockholders' equity was $60.5 million at September 30, 2009, or $10.43 per fully diluted common share. The Company has paid a quarterly dividend for 20 consecutive quarters.

As of September 30, 2009, Malaga Bank was in compliance with all applicable regulatory capital requirements and was deemed "well-capitalized" under applicable regulations. Core capital and risk-based capital ratios were 9.06% and 14.79%, respectively, at September 30, 2009 significantly exceeding the minimum "well capitalized" requirements of 5% and 10% respectively.

Malaga Bank, a subsidiary of Malaga Financial Corporation, is a full-service community bank headquartered on the Palos Verdes Peninsula with branch offices located on the Peninsula, in Torrance and now in San Pedro. Now in its 25th year, Malaga Bank has been delivering competitive banking services to residents and businesses of the South Bay, including real estate loan products custom-tailored to consumers and investors. As the largest community bank in the South Bay, Malaga Bank is proud of its continuing tradition of relationship-based banking and legendary customer service. Malaga Bank's web site is www.malagabank.com .

SOURCE: Malaga Financial Corporation


Malaga Financial Corporation
Randy Bowers
President and Chief Executive Officer
310-375-9000
[e-mail]

[10 bagger]

MNRK.. $7.00

Monarch Mortgage Expands in Carolinas

CHESAPEAKE, Va., Sept 29, 2009 /PRNewswire-FirstCall via COMTEX/ -- Monarch Mortgage, a division of Monarch Bank and one-bank holding company Monarch Financial Holdings, Inc. (MNRK, Trade ), recently opened three full-service mortgage offices in North Carolina and South Carolina.

Monarch Mortgage opened its Charlotte, North Carolina office, located at 7900 Matthews Mint Hill Road, Suite 115, representing the company's second entrance into the North Carolina market, following OBX Bank Mortgage, affiliated mortgage company, on the Outer Banks of North Carolina. In addition, the company marked its 17th location with the opening of its Wilmington, North Carolina office, located at 1427 Military Cutoff Road, Suite 207, and its 18th location with the opening of its Greenwood, South Carolina office, located at 224-A West Cambridge Avenue.

The Monarch Mortgage Carolina management team of Robert O'Bday, Ritchie Love and Daryl Watson represents over 45 years of combined experience in the mortgage industry. The Charlotte office serves as the Carolina headquarters supervising over 20 loan officers, Trent Reed and Jeff Schutte will manage the Wilmington office and Lindsey DeTreville will manage the Greenwood office.

"We're very pleased to continue our expansion in North Carolina and bring a full-range of mortgage services to more residents throughout the Carolinas," said Ted Yoder, president of Monarch Mortgage. "Monarch's expertise lies in offering a solution to every homebuyers need. Our mission of providing superior client service will help strengthen our position in the Carolina market."

Monarch Mortgage offers a full range of mortgage and home equity products including FHA, VA, conventional, construction-perm, VHDA and USDA mortgage loans. The new full-service mortgage office is based on the traditional ways of 'locals serving locals' banking philosophy offering in-house underwriting and processing.

About Monarch

Monarch Financial Holdings, Inc. is the one-bank holding company for Monarch Bank. Monarch Bank is a community bank with two offices in Chesapeake, four offices in Virginia Beach, and two offices in Norfolk, Virginia. OBX Bank, a division of Monarch Bank, operates one office in Kitty Hawk, North Carolina. Services are also provided through over fifty ATMs located in the South Hampton Roads area and the Outer Banks of North Carolina, and "Monarch Online" consumer and business internet banking (monarchbank.com and OBXBank.com). Monarch Mortgage and our affiliated mortgage companies (Coastal Home Mortgage, LLC, Home Mortgage Solutions, LLC and OBX Bank Mortgage) have 18 offices with locations in Chesapeake, Fredericksburg, Norfolk, Richmond, Suffolk, and Virginia Beach (2), Virginia as well as Bowie, College Park, Crofton, Gaithersburg, Rockville (2), and Waldorf, Maryland and Charlotte, Kitty Hawk and Wilmington, North Carolina and Greenwood, South Carolina. Our subsidiaries/divisions include Monarch Capital, LLC (commercial mortgage brokerage), Monarch Investments (investment and insurance solutions), and Real Estate Security Agency, LLC (title agency). The shares of Monarch Financial Holdings, Inc. "MNRK" are publicly traded on the NASDAQ Capital Market.

SOURCE Monarch Mortgage

[10 bagger]

MNRK.. $7.22

Just bought 1288 @ $7.22.. nice Small Bank with earnings and deposit growth..hank

Monarch Financial Reports Record Profits and Improved Asset Quality

CHESAPEAKE, Va., July 16 /PRNewswire-FirstCall/ -- Monarch Financial Holdings, Inc. (Nasdaq: MNRK - News), the bank holding company for Monarch Bank, reported the best quarterly profits in the company's history. Net income was $1,419,592 for the second quarter of 2009, up 53.1% from the same period in 2008 when net income was $927,027. The quarterly annualized return on average equity (ROE) was 9.17 %, and the annualized return on average assets (ROA) was 0.85%. Quarterly diluted earnings per share were $0.21, an improvement over the first quarter of 2009 when basic and diluted earnings per share were $0.16.

For the first six months of 2009 net income was a record $2,479,863 compared to $1,895,228 for the same period in 2008, a 30.8% increase. The six month annualized return on average equity (ROE) was 8.05 %, and the annualized return on average assets (ROA) was 0.76%. Year-to-date 2009 diluted earnings per share were $0.37, compared to $0.38 the previous year.

"I am pleased to report record historic quarterly profits that were achieved in this very challenging environment. Our team at Monarch Mortgage had a record quarter for applications and closed mortgage loans, which drove our improved performance. Our banking group continued to improve the net interest margin through improved deposit and loan pricing. We produced these record profits despite significant expense increases including a higher provision for loan loss expense and a large special FDIC deposit insurance assessment." stated Brad E. Schwartz, Chief Executive Officer of Monarch Bank. "It was a strong quarter for growth in earnings, capital, deposits and liquidity, as well as the growth in our client base."

Total assets at June 30, 2009 grew to $666.1 million, up $31.9 million for the quarter and up $87.5 million or 15.1% from the same period in 2008. Total loans held for investment increased $28.3 million to $515.6 million, up 5.8% from the same period in 2008. Loans held for sale through our mortgage operations increased $57.0 million to $96.5 million, up 144.1% from the same period in 2008. Deposits increased $62.1 million to $526.6 million, up 13.4% from the same period in 2008. Since December 31, 2008 deposits have grown $30.5 million with lower cost demand deposit accounts now representing 19% of total deposits.

Non-performing assets declined from 1.62% of total assets on March 31, 2009 to 0.76% of total assets at June 30, 2009. Non-performing assets consist of $471,000 in loans 90 days or more past due and still accruing interest, $3,819,000 in non-accrual loans and $802,000 in five parcels of other real estate. Total non-performing assets were $5.1 million, down from $10.2 million at March 31, 2009. "We remain aggressive in managing asset quality issues and continue to build our allowance for loan losses and work with troubled borrowers." stated E. Neal Crawford, President of Monarch Bank. "Asset quality improved dramatically during the second quarter with non-performing assets at 0.76% of total assets, a very good number compared to our market and peer banks. We continue to work closely with our relationship clients and will not abandon the marketplace like many of our larger competitors are doing. We remain committed to our clients in good times and bad."

The Company's capital position remains extremely strong with total capital of $62.4 million and regulatory capital of $78.0 million at June 30, 2009. Regulatory capital includes $10 million in trust preferred subordinated debt and the majority of the allowance for loan losses. Monarch is rated as "Well Capitalized," the highest rating of capital strength by bank regulatory standards.

During the first six months of 2009, the Company expensed $370,000 in dividends to pay back the US Treasury for the $14.7 million investment by the Capital Purchase Program last December. Monarch has used the funds primarily to support growth in funding mortgage loans, and since receipt of the funds last December has funded over $700 million in residential mortgage loans.

Net interest income increased 43.1% or $3.1 million in 2009, due to higher yields and balances in both loans held for investment and in loans held for sale, as well as a major decline in our cost of funds. The net interest margin increased to 3.67% for the second quarter of 2009 compared to 2.96% for the same period in 2008, and 3.17% in the first quarter of 2009. Improved market and risk-based loan pricing coupled with major declines in the cost of deposits continued to improve net interest income. We anticipate improved asset yields and further declines in funding costs as our time deposits reprice to lower market rates.

Non-interest income grew 68.7% during 2009 compared to the same period in 2008, fueled by increased production at Monarch Mortgage. Monarch Mortgage closed $351 million in mortgage loans during the second quarter of 2009, and $639 million for the first six months of 2009 which is greater than all the loans closed for the entire year in 2008. For the second quarter of 2009 mortgage loan applications were $492 million. Monarch Mortgage is focused on the retail A-paper mortgage market and does not participate in the sub-prime or wholesale mortgage markets. Investment and Insurance commissions from our Virginia Asset Group subsidiary declined $179,399 or 43.9% in the second quarter compared to the previous year. We recognized an after-tax gain of $199,000 on the sale of excess land adjacent to one of our banking offices during the second quarter of 2009. Non-interest income represented 52.8% of total revenues in 2009, compared to 41.8% in 2008.

Non-interest expense grew 55.4% due to increased mortgage commission expense, FDIC insurance expense, legal expenses related to loan collections, and general expansion. During the second quarter of 2009 the FDIC increased deposit insurance costs for all banks and levied a special assessment to replenish the insurance fund. This increased our insurance expense to $575,254, an increase of $496,644 or 631.8% over the previous year's second quarter.

Monarch Financial Holdings, Inc. is the one-bank holding company for Monarch Bank. Monarch Bank is a community bank with two offices in Chesapeake, four offices in Virginia Beach, and two offices in Norfolk, Virginia. OBX Bank, a division of Monarch Bank, operates one office in Kitty Hawk, North Carolina. Services are also provided through over fifty ATMs located in the South Hampton Roads area and the Outer Banks of North Carolina, and "Monarch Online" consumer and business internet banking (monarchbank.com and OBXBank.com). Monarch Mortgage and our affiliated mortgage companies have thirteen offices with locations in Chesapeake, Norfolk, Virginia Beach (2), Fredericksburg, Suffolk, and Richmond, Virginia as well as Rockville (2), Waldorf, Crofton and Greenbelt, Maryland, and Charlotte, North Carolina. Our subsidiaries/divisions include Monarch Bank, OBX Bank, Monarch Mortgage (secondary mortgage origination), Coastal Home Mortgage, LLC (secondary mortgage origination), Home Mortgage Solutions, LLC (secondary mortgage origination), Virginia Asset Group, LLC (investment and insurance solutions), Real Estate Security Agency, LLC (title agency) and Monarch Capital, LLC (commercial mortgage brokerage). The shares of Monarch Financial Holdings, Inc. are publicly traded on the Nasdaq Capital Market under the symbol "MNRK".

[10 bagger]

WFSC.. $5.75

Weststar Financial Services Corporation Ranked First In North Carolina By Davenport

Aug 31, 2009 09:50:00 (ET)


ASHEVILLE, N.C., Aug 31, 2009 /PRNewswire-FirstCall via COMTEX/ -- For the quarter ended June 30, 2009, Weststar Financial Services Corporation (WFSC, Trade ), parent company of The Bank of Asheville, was ranked first in performance and 8th in valuation out of 33 banks in North Carolina by Davenport and Company, LLC in their Davenport Community Bank Quarterly. Financial institutions included in the report ranged in size from $174 million to $2.3 trillion. Davenport's model is somewhat similar to bank regulators' CAMELS System, which evaluates a bank's financial condition in six areas: Capital, Asset Quality, Management, Earnings, Liquidity and Sensitivity to Market Risk. Their methodology ranked banks according to five categories: profitability, capital, liquidity, asset quality and valuation. The first four categories address company fundamentals and are combined to establish a performance ranking. The valuation ranking is based on price to book value, price to last twelve months earnings and dividend yield.

Weststar exceeded the median in all five ratios used for computing profitability: return on assets, return on equity, efficiency, operating revenue growth and net earnings per share growth. For capital ratios, the Company exceeded the median in tangible equity to assets. The Company also outperformed its peers in all categories of asset quality and liquidity measures.

G. Gordon Greenwood, President and CEO stated, "We thank all our associates for their hard work and commitment that has helped us to achieve this distinction. We also appreciate the great support of our customers and shareholders, who have helped the Company grow and maintain profitability. For without them, we would not have reached this goal. Our commitment remains to be the leading community bank serving Asheville and Buncombe County."

Weststar Financial Services Corporation is the parent company of The Bank of Asheville. Weststar Financial Services Corporation owns 100% interest in Weststar Financial Services Corporation I, a statutory trust. The Bank operates five full-service banking offices in Buncombe County, North Carolina - Downtown Asheville, Candler, Leicester, South Asheville and Reynolds.

This news release contains forward-looking statements. Such statements are subject to certain factors that may cause the company's results to vary from those expected. These factors include changing economic and financial market conditions, competition, ability to execute our business plan, items already mentioned in this press release, and other factors described in our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's judgment only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events and circumstances that arise after the date hereof.

SOURCE Weststar Financial Services Corporation

[10 bagger]

MNRK..$6.55

Monarch Hires Four Experienced Bankers and Appoints Norfolk President:

Don Price, Craig Baker, Bob White and Chas Wright added to Monarch Bank team:

CHESAPEAKE, Va., Aug. 26 /PRNewswire-FirstCall/ -- Monarch Financial Holdings, Inc. (NASDAQ:MNRK), the bank holding company for Monarch Bank, reported the addition of four experienced bankers to the Monarch Bank team.

"We are very excited to have these four local bankers join the Monarch team," stated Neal Crawford, president of Monarch Bank. "They have strong reputations in the local business community and have always served their clients with the same proactive valued-added approach as practiced by our bankers here at Monarch. We consider them a natural fit with our culture of building lasting relationships thru exceptional service."

Donald F. Price will assume the title of Norfolk President and will be responsible for all banking activities related to Monarch Bank in Norfolk. Price is a graduate of Old Dominion University and has over twenty five years leadership experience in the banking industry in Norfolk and is active in many prominent community organizations including the Barry Robinson Center, St. Mary's Home for Disabled Children, and the Tidewater Business Financing Corporation.

R. Craig Baker will assume the title of senior vice president and will be a business banker located in Chesapeake. Baker, a graduate of Old Dominion University, also has over twenty five years of leadership experience in Norfolk and Chesapeake and is also very active in many prominent community organizations including the Sertoma Club, Child and Family Services, and the United Way of South Hampton Roads.

Robert "Bob" L. White will assume the title of senior vice president and will be a business banker located in Norfolk. White, a graduate of the Virginia Military Institute has over twenty years of banking leadership in Norfolk and was a Captain in the United States Air Force and is also very active in many prominent community organizations including the Kiwanis Club, the Virginia Zoological Society, International Azalea Festival, and the United Way of South Hampton Roads. Bob is also a graduate of Lead Hampton Roads.

Charles "Chas" M. Wright will assume the title of senior vice president and will be a business banker located in Virginia Beach and director for Monarch Capital in Norfolk. Wright earned his undergraduate degree from University of Virginia and MBA from Old Dominion University. He has seven years of banking and investment banking experience. Wright served on the board of directors for Old Dominion Alumni Association, Hampton Roads Technology Council and Sertoma Club of Norfolk. He is a member of Hampton Roads Association of Commercial Real Estate, Urban Land Institute, Downtown 100 and Norfolk Sports Club.

About Monarch Bank

Monarch Financial Holdings, Inc. is the one-bank holding company for Monarch Bank. Monarch Bank is a community bank with two offices in Chesapeake, four offices in Virginia Beach, and two offices in Norfolk, Virginia. OBX Bank, a division of Monarch Bank, operates one office in Kitty Hawk, North Carolina. Services are also provided through over fifty ATMs located in the South Hampton Roads area and the Outer Banks of North Carolina, and "Monarch Online" consumer and business internet banking (monarchbank.com and OBXBank.com). Monarch Mortgage and our affiliated mortgage companies have twelve offices with locations in Chesapeake, Norfolk, Virginia Beach (2), Fredericksburg, Suffolk, and Richmond, Virginia as well as Rockville (2), Waldorf, Crofton and Greenbelt, Maryland and Charlotte, North Carolina. Our subsidiaries/divisions include Monarch Bank, OBX Bank, Monarch Mortgage (secondary mortgage origination), Coastal Home Mortgage, LLC (secondary mortgage origination), Home Mortgage Solutions, LLC (secondary mortgage origination), Virginia Asset Group, LLC (investment and insurance solutions), Real Estate Security Agency, LLC (title agency) and Monarch Capital, LLC (commercial mortgage brokerage). The shares of Monarch Financial Holdings, Inc. are publicly traded on the NASDAQ Capital Market under the symbol "MNRK"

CONTACT: Nancy Porter, Senior VP - Marketing & Sales, Monarch Bank,

[phone]

Web Site: http://www.monarchbank.com/

[10 bagger]

MNRK..$6.55 Insider buying:

SOURCE: Form 4

ISSUER: MONARCH FINANCIAL HOLDINGS INC
SYMBOL: MNRK

FILER: MATHIAS BARRY A
TITLE: Officer

DATE TRANSACTION SHARES PRICE VALUE
8/7/09 Exercise* 7,128 $6.31 $44,978

OWNERSHIP: 44,233 (Direct)

* - Exercised 7 years, 10 months after vesting and 2 years, 1 month before
expiration.

The Form 4 is filed with the Securities and Exchange Commission by insiders
to report transactions in their companies' shares. Open market purchases
and sales must be reported within two business days of the transaction.

[10 bagger]

NIDB.. $9.25.. Bought MORE !!!

It just doesn't get better than this.. hank

08/25/09 11:24 AM EDT Buy 298 NIDB Executed @ $9.25
08/25/09 11:15 AM EDT Buy 500 NIDB Executed @ $9.25

http://www.firstfedhuntington.com/home/fiFiles/static/documents/2nd_qtr.pdf

[10 bagger]

MNRK.. $7.962 SSKILLZ1

It looks like you have grabbed the brass ring and have made a good purchase.. There was a large seller lurking that got cleaned up this AM.. I have been buying MNRK at higher prices before today and was also able to make a low purchase today as the seller was out early.. Sorry I Didn't have a larger amount on the bid but I'm happy with what I got..

Hank

08/24/09 9:32 AM EDT Buy 888 MNRK Executed @ $6.42 Details | Edit

https://www.monarchbank.com/pdf/FinancialQ22009.pdf

[10 bagger]

UMPQ..

Sold my entire position @$10.29.. Was never a good or stable bank buy the offering put a floor on the price.. Just bought it for a trade.. Made $1,600.00+ after comm.. hank

[10 bagger]

Bank List updated 08/19/09..hank

BEOB Trade 9.50 500 $9.00 $250.00 +5.56% $4,750.00

BKSC Trade 11.75 488 $12.26 -$248.88 -4.16% $5,734.00

BOMK Trade 6.32 1,976 $6.00 $632.32 + 5.33% $12,488.32

BORT Trade 15.75 109 $12.00 $408.75 + 31.25% $1,716.75

CIWV Trade 8.50 1,288 $8.25 $322.00 + 3.03% $10,948.00

EBMT Trade 29.00 876 $29.10 -$87.60 -0.34% $25,404.00

MLGF Trade 12.25 976 $11.49 $741.76 + 6.61% $11,956.00

MNRK Trade 7.50 3,076 $8.46 -$2,952.96 -11.35% $23,070.00

MVLY Trade 7.00 1,876 $7.72 -$1,350.72 -9.33% $13,132.00

NASB Trade 30.52 10.52 $29.68 $8.84 + 2.83% $321.07

NCFT Trade 7.10 1,000 $7.25 -$150.00 -2.07% $7,100.00

NIDB Trade 9.25 960 $9.00 $240.00 +2.78% $8,880.00

NKSH Trade 24.46 576 $24.85 -$224.64 -1.57% $14,088.96

SAVB Trade 8.035 5,152 $8.06 -$128.80 -0.31% $41,396.32

SDBK Trade 11.75 200 $12.00 -$50.00 -2.08% $2,350.00

SVBI Trade 3.12 3,662 $3.04 $292.96 + 2.63% $11,425.44

TOWN Trade 13.39 793 $13.05 $269.62 + 2.61% $10,618.27

UBOH Trade 10.54 488 $11.28 -$361.12 -6.56% $5,143.52

UMPQ Trade 10.06 5,776 $10.00 $346.56 + 0.60% $58,106.56

WEFP Trade 18.10 1,276 $18.78 -$867.68 -3.62% $23,095.60

WFSC Trade 6.00 1,976 $5.74 $513.76 +4.53% $11,856.00

News..

Aug19
04:33 PM UMPQ Umpqua Hldgs: Net Proceeds Expected To Be $245.6M >UMPQ Dow Jones
04:33 PM UMPQ Umpqua Holdings Announces Closing of $258.7 Million Underwritten Public Offering of Common Stock, Including Exercise of Underwriters' over-Allotment Option Business Wire
Aug17
03:05 PM UMPQ Umpqua Bank Launches Oregon Corporate Banking Division Business Wire
01:17 AM UMPQ Umpqua Holdings Raised To Mkt Perform From Underperform By KBW Dow Jones
Aug13
07:19 PM UMPQ Umpqua Holdings Announces Pricing of Upsized $225 Million Underwritten Public Offering of Common Stock Business Wire
07:05 PM UMPQ Umpqua Hldgs 23.1M-Shr Offer Prices At $9.75 A Shr Dow Jones
10:43 AM UMPQ Calendar Of Equity Issues Expected To Price This Week Dow Jones

August 13
10:43 AM UMPQ Calendar Of Equity Issues Expected To Price This Week
August 12
12:22 PM UMPQ US HOT STOCKS: JA Solar, Janus Capital, Macy's, UBS, YRC -2-
10:29 AM UMPQ US HOT STOCKS: JA Solar, Maidenform, US Airways, YRC -2-
August 11
06:04 PM UMPQ Umpqua Holdings To Sell $175M In Stock; Shares Drop >UMPQ
04:10 PM UMPQ Umpqua Holdings Announces Commencement of Underwritten Public Offering of Common Stock Business Wire
August 10
12:29 PM UMPQ Umpqua Bank Unveils Next-Generation Store in Rocklin Business Wire
August 05
03:51 PM MVLY Mission Valley Bancorp Announces Year to Date Earnings Up More Than 200% From 2008 PR Newswire
12:17 PM NASB NASB Fincl 3Q Book Value $20.58/Shr Vs $19.42 >NASB
12:16 PM NASB NASB Financial, Inc. Announces Financial Results Business Wire
August 03
01:20 PM UMPQ Donna Huntsman Joins Umpqua Bank To Lead Newly Formed Private Banking Division
01:20 PM UMPQ Donna Huntsman Joins Umpqua Bank to Lead Newly Formed Private Banking Division Business Wire
July 30
04:30 PM MLGF Malaga Financial Corporation Reports Record Earnings Business Wire
July 28
09:40 AM NIDB Northeast Indiana Bancorp, Inc. Announces Quarterly Cash Dividend PR Newswire
July 24
04:29 PM WFSC Weststar Financial Services Corporation Second Quarter Earnings Increase 54% PR Newswire
July 23
03:15 PM NCFT First Trust Bank Reports Second Quarter Earnings PR Newswire
02:56 PM TOWN TowneBank Announces Cash Dividend On Preferred Stock
02:55 PM TOWN Towne Bank 2Q EPS 16c Vs EPS 24c >TOWN
02:55 PM TOWN TowneBank Reports Second Quarter 2009 Financial Results and Operating Performance
July 22
03:13 PM MLGF Malaga Bank Opens New Torrance Location Business Wire
02:06 PM UBOH United Bancshares 2Q Net $1.34M >UBOH
12:51 PM WEFP Wells Financial Corp. Announces Second Quarter Results and Cash Dividend PR Newswire
11:36 AM MNRK Monarch Bank Ranked One of 'The Best Places to Work in Hampton Roads' PR Newswire
July 21
04:32 PM SAVB CORRECT: Savannah Bancorp 2Q EPS 2c >SAVB
04:30 PM SAVB Savannah Bancorp Reports Second Quarter Earnings of $106,000 and Declares Quarterly Dividend
01:46 PM NASB NASB Financial, Inc. Declares Cash Dividend on Common Stock Business Wire
11:45 AM BEOB BEO Bancorp Reports Strong 2Q 2009 Earnings Business Wire
09:30 AM SDBK San Diego Trust Bank Posts Record Quarterly Results Business Wire



Total Position Cost $305,976.64

Unrealized P&L ( -$2,395.83) -0.78%

Position Value $303,580.81

[10 bagger]

UMPQ.. $10.02..

Just recently completed an issue of new stock with proceeds to the company @$9.75.. It appears that all the free riders are gone and that UMPQ is a buy at this level.. I bought a few this AM.. hank

08/19/09 12:00 PM EDT Buy 2045 UMPQ Executed @ $10.02 Details | Edit
08/19/09 11:59 AM EDT Buy 100 UMPQ Executed @ $10.025 Details | Edit
08/19/09 11:59 AM EDT Buy 100 UMPQ Executed @ $10.03 Details | Edit
08/19/09 11:59 AM EDT Buy 200 UMPQ Executed @ $10.03 Details | Edit
08/19/09 11:59 AM EDT Buy 243 UMPQ Executed @ $10.03 Details | Edit
08/19/09 11:59 AM EDT Buy 100 UMPQ Executed @ $10.025 Details | Edit
08/19/09 11:59 AM EDT Buy 100 UMPQ Executed @ $10.0275 Details | Edit
08/19/09 11:44 AM EDT Buy 200 UMPQ Executed @ $10 Details | Edit
08/19/09 11:44 AM EDT Buy 1288 UMPQ Executed @ $9.999 Details | Edit
08/19/09 11:44 AM EDT Buy 200 UMPQ Executed @ $10 Details | Edit
08/19/09 11:44 AM EDT Buy 100 UMPQ Executed @ $10 Details | Edit
08/19/09 11:44 AM EDT Buy 500 UMPQ Executed @ $10 Details | Edit
08/19/09 11:25 AM EDT Buy 600 UMPQ Executed @ $9.94 Details | Edit

[10 bagger]

NKSH.. $24.40..

It's down a little from my first purchase so I thought I would go revisit NKSH.. The efficency ratio remains low at 51.83% and return on average assets is high in todays econimic environment at 1.40%.. I have an order in to double down at $24.28..hank

National Bankshares, Inc. Reports Second Quarter Earnings

BLACKSBURG, VA, JULY 15, 2009: National Bankshares, Inc. (NASDAQ Capital Market: NKSH) reported today that it posted second quarter net income of nearly $3.36 million, or basic net income of $0.48 per share. For the second quarter of 2008, the Company had net income of nearly $3.47 million. Year-to-date net income is over $6.74 million, or $0.97 per share, 1.41% above the $6.65 million total on June 30, 2008. National Bankshares, Inc., a financial holding company headquartered in Blacksburg, Virginia, had net loans of $569.85 million at June 30, 2009, an increase of 7.63% over net loans at the end of the second quarter last year. Total assets on June 30 were $984.76 million, up by 10.04% over the same period in 2008.

Commenting on the Company's quarterly results, Chairman, President & CEO James G. Rakes said, "Second quarter earnings were impacted by a special Federal Deposit Insurance Corporation assessment, as well as an increase in quarterly fees. It is not commonly understood that insured depository institutions themselves, not the taxpayers, fund FDIC deposit insurance. The financial crisis has put an additional burden on the Deposit Insurance Fund, and all insured banks are contributing so that the Fund's reserve ratio remains healthy. Although the special assessment hurt second quarter earnings, FDIC insurance is a cornerstone of the American banking industry, and banks are doing what must be done to be certain that the public's confidence in FDIC remains high."

Mr. Rakes went on to say, "We are pleased with the level of loan growth through the first half of the year, and the quality of the loan portfolio is good. Although the total of nonperforming assets is somewhat higher, the ratio of nonperforming loans to total loans, at 0.47%, is reasonable and compares very well with our peers. We have increased the provision for loan losses throughout 2009, both in recognition of the difficult economy and to keep pace with loan growth. As we work to meet the challenges that remain this year, we are mindful of the conservative traditions that are a part of our bank's 118-year heritage and of its important role in the communities we serve."

National Bankshares, Inc. is the parent of the National Bank of Blacksburg, which does business as National Bank from 25 offices in Southwest Virginia. The Company has a financial services subsidiary that serves the same markets as National Bankshares Investment Services and National Bankshares Insurance Services. Company stock is traded on the NASDAQ Capital Market under the symbol "NKSH".

[10 bagger]

NODB..

From what I see I like but will research further.. Thanks for the idea..hank

[Stock]

NODB worth a look maybe

[10 bagger]

NWFL..

I like it but I don't like Pa.. too many Dems.. I'll study more over the weekend.. hank

[norweger1979]

NWFL

http://finance.yahoo.com/q/ks?s=NWFL

one of my fav. small banks! nice ER out today
http://sec.gov/Archives/edgar/data/1013272/000094627509000586/f10q_063009-0160.htm

recently included in the Russel 2k or 3k, provides good volume now! Insider cashing in some $$ into the recent strength but still pushing close to new 52week high!

I enjoy this board a lot, thanks for your DD and sharing of info!

[10 bagger]

mlvy..

The TARP money is fully leveraged and thier spreads between cost and interest recieved is higher.. Mainly the base for yields has expanded and thier new program for commerical credit cards service fees will add to the bottom line.. All bets are off if the Fed imposed additional fees this year.. hank

[Knowledge is King]

You see MVLY earning $.60 in the second half????


That's more than they made in either of the past two years. What do you see in the second half of this year that would cause such a major surge in earnings?

[10 bagger]

OPPS..MVLY DOWNWARD EPS EST..

It has been brought to my attention that my earnings Est.. can not hold up and I also after reading further info also believe the same.. I don't think the bank was trying to hide anything but,, thier reporting leaves a lot to be desired..

I used the info in the following portion of thier web site to mean second quarter results and not thru the second Qtr..

https://www.missionvalleybank.com/pdf/MVB_Q2_09.pdf

Because of this error I have to change my EPS projections to
$0.85 from $1.15 and that assumes that there will not be another extraordinary Fed fee made to all banks during the next six months.. The entire press release is as follows:

SUN VALLEY, Calif., Aug. 5 /PRNewswire-FirstCall/ -- Mission Valley Bancorp (the parent company of Mission Valley Bank (OTC Bulletin Board: MVLY - News)) today announced record year to date after tax income for 2009 of $635,000.

Related Quotes
Symbol Price Change
MVLY.OB 7.60 0.00

Tamara Gurney, President and CEO of the one bank holding company stated, "We are very pleased with the company's performance through the first half of 2009. Our commitment to 'sticking to the basics of banking' has enabled Mission Valley to achieve significant growth despite the current economic climate. Loans are up more than 19% to $196 million (an increase of $31 million over the $165 million reported at June 30, 2008). Deposits grew more than $49 million to slightly over $205 million, a 32% improvement from the year prior. As a result, total assets increased to more than $261 million - a 32% increase over the $198 million reported for the same period one year ago. Even more impressive, net income has grown more than 217% to $635,000 at June 30, 2009 from $200,000 reported at June 30, 2008."

Gurney continued, "During these turbulent times, Mission Valley's strong performance may seem extraordinary on the surface; however, as an organization we know that our continuing success is due to a number of strategic decisions made over the past 18 months in response to the changing financial landscape. Expansion of the Bank's Specialized Lending Division into accounts receivable and formula based lending has contributed, not only through increased loan growth and revenues, but also allowing the Bank to assist businesses that are struggling with cash flow and that may not otherwise qualify for financing. In addition, Mission Valley Bank received approval to become a 'settlement bank' for merchant bankcard processing. This designation allows the Bank to provide direct processing services for Independent Sales Organizations as well as our own clientele, thereby enhancing our operating and fee income."

Gurney concluded, "While we are pleased with our strong performance, we remain mindful of the current economic climate and the potential impact that further deterioration in commercial real estate could have on our Bank. Delinquencies within Mission Valley's loan portfolio remain relatively low (particularly as compared to the overall industry) however, in response to the on-going tough economy - as well as our own extensive analysis of our existing loan portfolio, we remain focused on preserving our allowance for credit losses and capital. Additionally, we are committed to maintaining open and frequent communication with our borrowers, working to understand their individual situations and partnering with them to define appropriate solutions to assist them through these difficult times."

Mission Valley Bank is a full-service, independent, commercial bank specializing in serving small and middle market businesses in the San Fernando & Santa Clarita Valleys. A full service, community based, business bank, the Bank was chartered in July 2001, with a vision of local ownership and a commitment to providing financial solutions to meet the needs of its clients.

www.MissionValleyBank.com

Forward-looking statements:

Certain matters discussed in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon current management expectations and, therefore, are subject to certain risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed, suggested, or implied by the forward-looking statements. Forward-looking statements are effective only as of the date that they are made and Mission Valley Bank assumes no obligation to update this information.

[10 bagger]

Updated Positions: +$5,615.00 on IBOX..

08/07/09

$285,276.00... Unrealized Profit $5,615.00