Florida Banks, Inc. Provides Guidance On Third and Fourth Quarter Results.Business Editors JACKSONVILLE Jacksonville. 1 City (1990 pop. 29,101), Pulaski co., central Ark., inc. 1941. The city has varied industries, including printing and publishing and the manufacture of electronic equipment, ordnance, and plastic and metal products. , Fla.--(BUSINESS WIRE)--Sept. 26, 2000 Florida Banks, Inc. (the "Company") (Nasdaq: FLBK), which expects to announce operating results for its third quarter ending September 30, 2000 during the third week in October, today announced that it anticipates reporting a loss for the third quarter in the range of $0.06 per share (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. ) to $0.08 per share (diluted). This compares with the consensus analyst estimate of net income of $0.02 per share (diluted) for the third quarter. The Company had a net loss of $0.12 per share (diluted) in the third quarter ended September 30, 1999. The lower-than-anticipated earnings are due primarily to increases in the company's provision for loan losses. The increase in the company's loan loss provision is related to two isolated loans. The Company also announced that it anticipates reporting a profit of between $0.03 and $0.05 per share (diluted) for the fourth quarter ending December 31, 2000. "We decided to take the conservative approach and reserve for these two loans at this time," said Charles E. Hughes Charles E. Hughes may refer to:
"We continue to be pleased with the growth in loans and deposits and the progress Florida Banks is making toward profitability. We have achieved profitability on a monthly basis from normal operations Generally and collectively, the broad functions that a combatant commander undertakes when assigned responsibility for a given geographic or functional area. Except as otherwise qualified in certain unified command plan paragraphs that relate to particular commands, "normal operations" of during the third quarter and expect to achieve profitability for the fourth quarter of this year. Our strategy of combining technology with a high level of personal service is being well accepted in our markets," Hughes concluded. The Company will host a conference call on Wednesday, September 27, 2000, at 11:00 AM eastern time to discuss the subject matter of this release. The conference call number is 800/262-1292. The call will also be simulcast on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the at www.flbk.com under INVESTOR RELATIONS Investor relations The process by which the corporation communicates with its investors. or it may be accessed through www.streetevents.com. The call will be available for replay on the Internet for approximately 30 days. A telephonic replay will be available from 2:00 p.m. eastern time September 27 through 6 p.m. September 29 by dialing 888/203-1112 and entering reservation No. 951461. Florida Banks, Inc. is a Jacksonville-based holding company for a statewide community banking system in Florida's largest and fastest-growing markets. The Company's community banking approach emphasizes responsive and personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. service to its customers at a level normally reserved for only the very best customers of large banks. Local banking affiliates of Florida Banks, Inc. offer a range of traditional banking products and services to small and medium-sized businesses and professionals. Florida Banks, Inc. also provides personal banking services for the owners and executives of those businesses. Certain statements in this news release contain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of 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, such as statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc financial results and plans for future business development activities, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties included, but not limited to, general economic conditions, competition, interest rate sensitivity, exposure to regulatory and legislative changes and other uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion