SANDPOINT, Idaho, July 28, 2010 (GLOBE NEWSWIRE) -- Intermountain Community Bancorp (OTCBB:IMCB), the holding company for Panhandle State Bank, reported financial results for the second quarter ended June 30, 2010, with asset quality improving, a rebounding net interest margin and improving financial results. Intermountain reported that following a $4.9 million provision for loan losses, it recorded a net loss applicable to common shareholders of $2.9 million, or $0.35 per common share, for the second quarter. The loss was significantly lower than the net loss applicable to common shareholders of $4.7 million, or $0.56 per common share in the preceding quarter, when its provision was $6.8 million, and also significantly lower than the second quarter a year ago when the loan loss provision was $18.7 million and the net loss applicable to common shareholders was $11.4 million, or $1.37 per common share. Second quarter income excluding taxes, loan loss provision and other real estate (OREO) operations, improved to $1.9 million, up from $412,000 in the first quarter and $1.5 million in the year ago period.
Intermountain Community Bancorp Reports Second Quarter 2010 Results With Stronger Credit Quality And Improving Operating Results
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