Folsom Lake Bank Updates 2009 Results
FOLSOM, Calif., Feb. 19 /PRNewswire-FirstCall/ -- On January 25, 2010, Folsom Lake Bank (OTC Bulletin Board: FOLB) announced unaudited financial results for the quarter and full year ending December 31, 2009. Subsequent to the January 25th announcement, the bank became aware of new financial information regarding one of its commercial real estate loans, prompting it to record an additional $400,000 provision for loan losses and an additional $400,000 in loan charge-offs effective 12/31/09. As a result, total assets changed from $103.0 million to $102.6 million; total loans changed from $64.4 million to $64.0 million; the net loss for the year changed from $1,652,581 to $2,052,581; and non-accrual assets changed from $215,715 to $1,510,767.
This correspondence may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act. All of the statements contained in this correspondence, other than statements of historical fact, should be considered forward-looking statements. Although the Bank believes the expectations reflected in those forward-looking statements are reasonable, it can give no assurance that those expectations will prove to have been correct. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are not intended to give any assurance as to future results.
SOURCE Folsom Lake Bank
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV