Cooperative Bankshares Reports Second Quarter Earnings.Business Editors WILMINGTON Wilmington. 1 City (1990 pop. 71,529), seat of New Castle co., NE Del., on the Delaware River and tributary streams, the Christina and the Brandywine; settled 1638, inc. as a city 1832. , N.C.--(BUSINESS WIRE)--July 18, 2001 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 quarter ended June June: see month. 30, 2001, of $702,904 or $0.25 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share. Income for the period ended June 30, 2000, was $695,286 or $0.25 per diluted share. Income for the six months ended June 30, 2001, was $1,277,256 or $0.45 per diluted share, a 31.8% increase over the same period last year. Income for the six months ended June 30, 2000, was $969,306 or $0.34 per diluted share. Total assets at June 30, 2001, were $427.8 million, stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. was $31.9 million or $11.38 per share and represented 7.45% of assets. Cooperative Bankshares, Inc. (NASDAQ: COOP) is the parent company of Cooperative Bank Cooperative bank may refer to:
Please [ improve this article] or discuss the issue on the talk page. 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. .
COOPERATIVE BANKSHARES, INC. UNAUDITED SELECTED FINANCIAL DATA
201 MARKET ST. NASDAQ SYMBOL: COOP
WILMINGTON, NC 28401
BALANCES AS OF: 06/30/01
----------------------------------------------------------------------
ASSETS $427,760,326
STOCKHOLDERS' EQUITY 31,872,647
DEPOSITS 338,984,849
BOOK VALUE (2,800,975 SHARES as of 6/30/01) 11.38
NON-PERFORMING ASSETS:
ACCRUING LOANS => 90 DAYS(1) 1,761,925
NON-ACCRUAL LOANS 366,231
FORECLOSED REO 60,000
-------------
TOTAL NON-PERFORMING ASSETS $ 2,188,156
=============
FOR THE QUARTER ENDED: 06/30/2001
NET INTEREST MARGIN (net interest income/average
interest-earning assets) 2.96%
EARNING ASSETS/LIABILITIES 108.80%
TANGIBLE CAPITAL
STOCKHOLDERS' EQUITY/ASSETS 7.45%
NET INCOME $ 702,904
=============
NET INCOME PER DILUTED SHARE $ 0.25
=============
DILUTED WEIGHTED AVERAGE NUMBER OF SHARES 2,816,418
=============
ALLOWANCE FOR LOAN LOSSES
PROVISION $ 90,000
CHARGE OFFS 7,940
RECOVERIES 3,386
-------------
BALANCE $ 2,289,726
=============
(1) This figure was $1,327,151 as of July July: see month. 13, 2001. Note: Earnings per share are computed based on the weighted average number of dilutive shares outstanding, after giving retroactive Having reference to things that happened in the past, prior to the occurrence of the act in question. A retroactive or retrospective law is one that takes away or impairs vested rights acquired under existing laws, creates new obligations, imposes new duties, or attaches a effect for any stock dividends and splits. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion