This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Solera National Bancorp Narrows First Quarter Loss To $39,000, Or $0.02 Per Share

Stocks in this article: SLRK

Solera National Bancorp, Inc. (OTCBB:SLRK), the holding company for Solera National Bank, today reported a small loss of $39,000, or $0.02 per share, in the first quarter of 2012, compared to a loss of $183,000, or $0.07 per share in the first quarter a year ago. Solera earned $166,000, or $0.07 per share in the quarter ended December 31, 2011. Lower gains from sale of securities contributed to the losses in both the first quarters of 2012 and 2011, while improving asset quality and strong capital levels continue to sustain the bank.

“After achieving profitability in six of the past eight quarters, we posted a modest loss in the first quarter,” said Douglas Crichfield, President and Chief Executive Officer. “The greater Denver economy is beginning to show some reasonable improvement, and our loan officers are busy calling on potential customers, spreading the word as to who we are, so that we will be the bank businesses choose when borrowing begins again.”

“We believe the greater Denver market is starting to recover, noting that a recent report from Beacon Hill Institute ranks Colorado as the third-most economically competitive state,” Crichfield added. “And, according to data compiled by the Metro Denver Economic Development Corporation (Metro Denver EDC) in its Monthly Economic Summary for April 2012, ‘With employment growth on the rise, an increase in home sales, and more than twice the number of residential building permits than the same time last year, Metro Denver’s economy is climbing steadily out of post-recession lows.’

“We continue to augment our consumer and business banking services and are now starting to write loans for the new residential mortgage program we launched at the end of 2011,” said Crichfield. “The program fills a gap in the market for home loans that do not conform, because they exceed the dollar amount specified by U.S. government-sponsored agencies. In addition, our SBA lending program has strong potential in the coming years as the Denver economy continues to recover.”

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

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