latest news releases from the newsroom
Integrity Bancshares, Inc.
Integrity Bancshares, Inc. Reports Increase in Loan Loss Reserves
ALPHARETTA, Ga., June 29, 2007 (PRIME NEWSWIRE) -- Integrity Bancshares, Inc. (Nasdaq:ITYC) today announced that it will increase its allowance for loan losses through an additional provision of approximately $31 million. Additionally, approximately $3 million of interest income will be reversed. The after-tax effect of this provision and interest reversal is expected to result in a reduction in net income of approximately $21 million for the second quarter of 2007. The increase in the allowance for loan losses and recognition of estimated loss relates solely to the group of loans first identified by the Company on April 30, 2007 to borrowers who are associated with or controlled by one guarantor and that totaled approximately $83 million in the aggregate.
Polypore International, Inc.
Polypore International, Inc. Announces Receipt of Requisite Consents in Tender Offer for 10-1/2 Percent Senior Discount Notes Due 2012 and Consent Solicitation
CHARLOTTE, N.C., June 29, 2007 (PRIME NEWSWIRE) -- Polypore International, Inc. ("Polypore") (NYSE:PPO) today announced that, as part of its previously announced tender offer and consent solicitation for its 10-1/2% Senior Discount Notes due 2012 (the "Notes"), as of 5:01 p.m., New York City time, on June 28, 2007 (the "Consent Deadline"), Polypore had accepted tenders and consents for approximately 98.49% of the aggregate principal amount at maturity outstanding of the Notes.