This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Rurban Financial Corp. Announces 2010 Fourth Quarter And Full-Year Results

DEFIANCE, Ohio, Jan. 26, 2011 (GLOBE NEWSWIRE) -- Rurban Financial Corp. (Nasdaq:RBNF) ("Rurban" or the "Company"), a diversified financial services company providing full-service community banking, wealth management, and data/item processing services, reported a fourth quarter 2010 net loss of $853,000, or ($0.18) per diluted share, compared to a net loss of $1.88 million, or ($0.39) per diluted share, for the 2009 fourth quarter. For the 2010 full year, the Company reported a net loss of $9.88 million, or ($2.03) per diluted share, compared to net income of $382,500, or $0.07 per diluted share, for the 2009 full year.

Financial results for both 2010 and 2009 include certain non-recurring items at Rurban's banking subsidiary, The State Bank and Trust Company ("State Bank" or the "Bank"), and Rurban's data and item processing subsidiary, Rurbanc Data Services, Inc. dba RDSI Banking Systems ("RDSI"). Non-recurring charges at RDSI relate primarily to the previously planned spin-off from Rurban and the proposed merger with New Core Holdings, Inc. ("New Core"). The proposed transaction was first announced in the second quarter of 2009, and the Company announced in the second quarter of 2010 that the planned spin-off and merger could not be successfully completed. Impairments and write-offs of software, hardware, and development costs related to these transactions were a total of $10.0 million for 2010 ($6.5 million after-tax), and for the 2009 fourth quarter and full year, $0.78 million and $1.23 million, respectively, ($0.51 million and $0.80 million after-tax).

Non-recurring items reported by State Bank include $0.45 million of pretax gains ($0.30 million after-tax) on the sale of securities in 2010, and for the 2009 fourth quarter and full year, $0.48 million and $0.96 million, respectively, of pretax gains ($0.31 million and $0.65 million after-tax) and an industry-wide FDIC special assessment of $0.3 million ($0.2 million after tax) in the second quarter of 2009.

1 of 11

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,083.80 -2.83 -0.02%
S&P 500 1,987.98 +0.97 0.05%
NASDAQ 4,472.1080 -1.5890 -0.04%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs