Cooperative Bankshares Reports Annual Earnings Increase of 71 Percent.Business Editors WILMINGTON, N.C.--(BUSINESS WIRE)--Jan. 28, 2003 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 net income for the twelve months ended December 31, 2002, of $4,944,497 or $1.73 per diluted share, a 71.2% increase over the same period last year. Net income for the twelve months ended December 31, 2001 was $2,888,943 or $1.02 per diluted share. Net income for the quarter ended December 31, 2002, was $1,304,954 or $.46 per diluted share, an increase of $498,732 or 61.9% over the same quarter last year. Net income for the quarter ended December 31, 2001 was $806,222 or $0.28 per diluted share. Total assets at December 31, 2002, were $504.2 million; stockholders' equity was $38.4 million and represented 7.63% of assets. Cooperative Bankshares, Inc. is the parent company of Cooperative Bank. Chartered in 1898, Cooperative Bank provides a full range of financial services through 17 financial centers 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. . The 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 . |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion