Cooperative Bankshares CEO Expects to Beat Estimates.WILMINGTON, N.C. -- Cooperative Bankshares, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : COOP) should beat analyst Earnings per Share (EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. ) estimates in 2004 and 2005, 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. Frederick Willetts, III told investors at the SunTrust Robinson Humphrey Sunbelt Community Bank Conference. Willetts said that the 2004 estimate of $1.52 per share reported by analyst Gary Tenner of SunTrust Robinson Humphrey "may be slightly conservative." He additionally said that he would be "profoundly disappointed" if the company failed to beat Tenner's 2005 estimate of $1.75 per share. Cooperative Bankshares, Inc. is the parent company of Cooperative Bank. Chartered in 1898, Cooperative Bank provides a full range of financial services through 21 offices in Eastern North Carolina Eastern North Carolina or (often abbreviated as ENC) is the region of North Carolina which includes the eastern third of North Carolina. It includes the Outer and Inner banks, thus it is often known geographically as the state's coastal region. . Cooperative Bank's subsidiary, Lumina Mortgage, Inc., is a mortgage banking firm, originating and selling residential mortgage loans through offices in Wilmington, North Carolina For other places with the same name, see Wilmington (disambiguation). Wilmington is a city in New Hanover County, North Carolina, United States. The population was estimated at 100,000 as of 2006;[1] , North Myrtle Beach, South Carolina North Myrtle Beach is a city in Horry County, South Carolina, United States. It was created in 1968 from four existing municipalities north of Myrtle Beach, and serves as one of the primary tourist towns along the Grand Strand. , and Virginia Beach, Virginia Virginia Beach is an independent city located in the South Hampton Roads area in the Commonwealth of Virginia, on the shores of the Chesapeake Bay and the Atlantic Ocean. It is the most populous city in Virginia and the 41st largest city in the United States, with an estimated . SEC Form 8-K has been filed. This Press Release, as well as other written communications made from time to time by Cooperative Bankshares, Inc. and subsidiaries (the "Company") and oral communications made from time to time by authorized officers of the Company, may contain statements relating to the future results of the Company (including certain projections, such as earnings projections, and business trends) that are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 (the PSLRA). Such forward-looking statements may be identified by the use of such words as "believe," "expect," "should," "planned," "estimated" and "potential." For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the PSLRA. The Company's ability to predict future results is inherently uncertain and cautions you that a number of important factors could cause actual results to differ materially from those currently anticipated in any forward-looking statement. These factors include among others, changes in market interest rates and general and regional economic conditions, changes in government regulations, changes in accounting principles and the quality or composition of the loan and investment portfolios and other factors that may be described in the Company's quarterly reports on Form 10-Q for the quarters ended March 31 and June 30 and in its annual report on Form 10-K, each filed with the Securities and Exchange Commission, which are available at the Securities and Exchange Commission's internet website (www.sec.gov) and to which reference is hereby made. |
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