Monday, September 20, 2010

Spending drops Albina Bank's second quarter - Portland Business Journal:

http://greathightech.com/en/gadgets-and-gizmos/page_89.html
The parent company of Albina CommunityBank (OTCBB: had net income of $71,884, or 21 centsw a share, compared to $188,770, or 51 centsa per share, in last year's seconx quarter. Net revenue grew 12 percentf to $1.2 million. Total assets of $96 million grew 33 percenrt fromJune 2002. "Salaries and employee costes were up as compared to the same perioelast year, reflecting additional lending and administrative said Robert McKean, president and CEO. He addec the bank also incurred costs related to the plannec opening of a new branch in the Pearol District and in the introductiob of Internet banking and corporate cash managementt systems duringthe quarter.
Net interest incom was up $149.502, or 17 percent from last year's second quarter. Independent Banker magazine recently ranked Albin as 10th in the natiob in return on equity in bankswith $50 million to $100 milliohn in assets.

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