Community 1st Bank Announces Operating Results and Ticker symbol (Ticker:CFBN.OB).ROSEVILLE, Calif. -- Community 1st Bank (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CFBN) announced unaudited operating results for 2006. The Placer County based bank opened in February 2006 and operated for eleven months in its first year. Total assets at December 31, 2006 were $53.0 million. Total loans finished the year at $35.9 million, and total deposits were $36.8 million. The Bank posted an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $2.0 million, of which $450,000 represented the provision for loan losses. The Bank anticipated losses during its start-up phase, and has incurred smaller losses than expected. Mark A. Lund, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Community 1st Bank, also announced that the Bank has been assigned the stock ticker Stock ticker A letter designation assigned to securities and mutual funds that trade on US financial exchanges. symbol CFBN.OB. For more information about the stock, contact your broker. Community 1st Bank is headquartered in Roseville, and operates full service banking offices in both Roseville and Auburn Auburn (ô`bərn). 1 City (1990 pop. 33,830), Lee co., E Ala.; inc. 1839. The city's economy centers around Auburn Univ.; there is some manufacturing. 2 City (1990 pop. 24,309), seat of Androscoggin co. . For more information about the Bank, contact Mark A. Lund, President and Chief Executive Officer at 916-724-2425. The website is www.community1bank.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion