Cooperative Bankshares Reports 3rd Quarter Earnings.WILMINGTON, N.C.--(BUSINESS WIRE)--Oct. 6, 1999-- 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) reported that net income for the quarter ended September 30, 1999 rose 32% to $679,325 or $0.23 per share compared to $513,496 or $0.16 per share for the same quarter in 1998. Total assets at September 30, 1999 were $389.5 million; stockholder's equity was $29.6 million or $10.73 per share and represented 7.6% of assets. Nonperforming loans and foreclosed real estate owned Real Estate Owned Property owned by a lender - usually a bank - after an unsuccessful sale at a foreclosure auction. This is common because most of the properties up for sale at these auctions are worth less than the total amount owed to the bank: the minimum bid in most remained low at 0.42% of assets at September 30, 1999. Cooperative Bankshares, Inc., is the parent company of Cooperative Bank For Savings, Inc., SSB SSB Statistisk Sentralbyrå (Statistics Norway) SSB Super Smash Bros (video game) SSB Space Studies Board SSB Single Side Band SSB Single Stranded DNA-Binding Protein SSB Salomon Smith Barney . Originally chartered in 1898, Cooperative provides a full range of financial services through 17 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. . |
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