latest news releases from the newsroom
WSB Financial Group
WSB Financial Remains Well-Capitalized After Reporting Preliminary 4Q07 Profit of $1.1 Million and 3Q07 Loss of $7.8 Million After Adding $13.9 Million to Loan Reserves
BREMERTON, Wash., Feb. 1, 2008 (PRIME NEWSWIRE) -- WSB Financial Group (Nasdaq:WSFG), the parent company of Westsound Bank, today reported a loss in the third quarter of 2007, after significant additions to loan reserves, and preliminary fourth quarter 2007 profits. Based on the findings of an independent assessment of the loan portfolio, the company added $13.9 million, or $1.65 per share after tax, to total provisions for loan losses and unfunded commitments in the third quarter, generating a loss of $7.8 million, or $1.39 per share, for the third quarter of 2007. In the fourth quarter, WSB generated a preliminary profit of $1.1 million, or $0.19 per share.
Klayman & Toskes P.A.
Notice to All Merrill Lynch Customers Who Invested in Norma CDO I Ltd. From the Securities Law Firm of Klayman & Toskes, P.A.
NEW YORK, Feb. 1, 2008 (PRIME NEWSWIRE) -- The Securities Law Firm of Klayman & Toskes, P.A. ("K&T") (http://www.nasd-law.com) announced today that it is investigating the damages sustained by institutional and retail customers in a collateralized debt obligation ("CDO") called Norma CDO I Ltd. ("Norma"). Norma, brought into existence by Merrill Lynch (NYSE:MER), bet heavily on the success of the sub-prime market. Just nine months after it sold about $1.5 billion in securities to its investors, the value of Norma has been decimated in the collapse of the housing market and is reported to be worth only a fraction of its original value.
Bronstein, Gewirtz & Grossman, LLC
Bronstein, Gewirtz & Grossman, LLC Announces That a Class Action Has Been Filed Against MBIA, Inc. and Certain of Its Senior Officers and Directors
NEW YORK, Feb. 1, 2008 (PRIME NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC announces that a class action lawsuit has been filed on behalf of purchasers of the common stock of MBIA, Inc. (NYSE:MBI) ("MBIA"). The class consists of purchasers of the MBIA common stock for the period January 30, 2007 through and including January 9, 2008.
Storage Magazine Names QLogic 8Gb Fibre Channel Network Products of the Year Finalist
ALISO VIEJO, Calif., Feb. 1, 2008 (PRIME NEWSWIRE) -- QLogic Corp. (Nasdaq:QLGC), a leader in networking for storage and high performance computing (HPC), today announced the QLogic(r) 8Gb Fibre Channel Network has been selected as a Finalist for the 2007 "Storage Products of the Year" awards. Finalists were selected by an independent team of judges and editors from SearchStorage.com and Storage Magazine who reviewed and evaluated a record number of over 200 submissions for their innovative storage technology.
Port of Houston Authority
PHA Applauds Expansion of USDA Bid Points in Houston
HOUSTON, Feb. 1, 2008 (PRIME NEWSWIRE) -- Port of Houston Authority officials applauded the diligence and assistance of U.S. Rep. Gene Green in the expansion of the U.S. Department of Agriculture bid points program at the Port of Houston. The program expands the bid quote points for delivery and shipping of USDA Food Aid cargo from two to eleven bid points in Houston. Food Aid cargo is exported to developing countries for economic development and humanitarian purposes.