Cooperative Bankshares Reports Annual Earnings.Business Editors WILMINGTON, N.C.--(BUSINESS WIRE)--Jan. 19, 2000 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 year ended December 31, 1999, rose 12.4% over the previous year to $2,680,430 or $0.90 per share. Income for the year ended December 31, 1998 was $2,385,235 or $0.74 per share. Income for the fourth quarter ending December 31, 1999, rose 16.8% to $686,758 or $0.24 per share. For the same quarter ended December 31,1998, net income totaled $587,758 or $0.18 per share. Total assets at December 31, 1999 were $410.1 million; stockholder's equity Stockholder's equity The residual claims that stockholders have against a firm's assets, calculated by subtracting all current liabilities and debt liabilities from total assets. was $29.3 million or $10.92 per share and represented 7.15% 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 0.35% of assets at December 31, 1999. Cooperative Bankshares, Inc., is the parent company of Cooperative Bank Cooperative bank may refer to:
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