SANDPOINT, Idaho, Oct. 29, 2010 (GLOBE NEWSWIRE) -- Intermountain Community Bancorp (OTCBB:IMCB), the holding company for Panhandle State Bank, reported financial results for the third quarter ended September 30, 2010, with an increased net interest margin and continued reductions in non-performing assets. Intermountain reported that following a $10.1 million provision for loan losses and two non-cash charges totaling $19.1 million, it recorded a net loss applicable to common shareholders of $24.7 million, or $2.95 per common share, for the third quarter. Net loss applicable to common shareholders in the preceding quarter was $2.9 million, or $0.35 per common share, when its provision for loan losses was $4.9 million. In the third quarter a year ago, the loan loss provision was $3.8 million, and the net loss applicable to common shareholders was $2.7 million, or $0.32 per common share. For the first nine months of 2010, Intermountain recorded a net loss applicable to common shareholders of $32.4 million, or $3.86 per common share, compared to a net loss applicable to common shareholders of $14.6 million, or $1.75 per common share, in the like period a year ago.
Intermountain Community Bancorp Reports Third Quarter Results With Stronger Credit Quality And Improving Net Interest Margin
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