This Day On The Street
Continue to site right-arrow
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!

Western Liberty Bancorp Reports First Quarter 2012 Financial Results

Stocks in this article: WLBC

Financial Highlights (at or for the quarter ended March 31, 2012)

  • No provision for potential loan losses needed to be recorded in the first quarter.
  • Service1st Bank has exceptionally strong capital ratios with Total Capital/Total risk-weighted assets of 36.88%.
  • Western Liberty also has exceptionally strong capital ratios with Total Capital/Total risk-weighted assets of 72.29%.
  • Tangible book value was $5.53 per share, based on 13,466,535 shares outstanding.
  • Total cash and cash equivalents held by Western Liberty is $92.9 million, of which $22.6 million is at the holding company level and $745,000 is at the holding company subsidiary LVSP.
  • Noninterest bearing deposits jumped by $9.4 million and accounted for 48% of total deposits and core deposits (excluding time certificates of $100,000 or more) are 60% of total deposits.
  • Total deposits increased $4.8 million to $126.0 million from the preceding quarter.

Nevada Economic Update

Although new reports confirm that Las Vegas continues to lag in the economic recovery, Marcus & Millichap, a national commercial real estate brokerage and advisory firm, projected the addition of 12,000 jobs locally this year and that office-using job growth will push start a recovery in the Las Vegas office market this year.

Further signs of recovery were reported by the Nevada State Department of Taxation with its April 26 report on February tax revenues. “Statewide taxable sales for February 2012 of $3.2 million represent a 10.2% increase over February 2011 and a 7.5% increase for the fiscal year. The largest increases in statewide taxable sales were realized by Food Services and Drinking Places, up 11.9%; Motor Vehicle and Parts Dealers, up 22.9%; General Merchandise Stores, up 16.9%; Merchant Wholesalers, Durable Goods, up 18.0%; and Clothing and Clothing Accessories Stores, up 11.3%.”

2 of 7

Select the service that is right for you!

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 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • 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