latest news releases from the newsroom
Financial Institutions, Inc.
Loan Portfolio Performance Drives Solid Results At Financial Institutions
WARSAW, N.Y., Jan. 31, 2008 (PRIME NEWSWIRE) -- Financial Institutions, Inc. (Nasdaq:FISI), the parent company of Five Star Bank, today announced financial results for the fourth quarter and year ended December 31, 2007. Net income for Financial Institutions, Inc. ("FII") was $4.1 million, or $0.34 per diluted share, for the fourth quarter of 2007, compared with $3.0 million, or $0.23 per diluted share, for the fourth quarter of 2006. For the year ended December 31, 2007, net income was $16.4 million, or $1.33 per diluted share, compared with $17.4 million, or $1.40 per diluted share for the prior year.
Silverstar Holdings, Ltd.
Silverstar's Strategy First Signs Eccentric Major Leaguer, Bill 'Spaceman' Lee, for Baseball Mogul 2008
MONTREAL, Jan. 31, 2008 (PRIME NEWSWIRE) -- Strategy First Inc., a leading developer and worldwide publisher of entertainment software for the PC and a wholly-owned unit of Silverstar Holdings (Nasdaq:SSTR), has signed baseball legend, Bill 'Spaceman' Lee III, along with Enlight Software, for the upcoming release of Baseball Mogul 2008. The famed former major league pitcher will bring his unconventional insights to Bill 'Spaceman' Lee's Baseball Mogul 2008(r), the latest edition of the award-winning Baseball Mogul series.
Beacon Federal Bancorp, Inc.
Beacon Federal Bancorp, Inc. Announces Financial Results for the 4th Quarter of 2007
EAST SYRACUSE, N.Y., Jan. 31, 2008 (PRIME NEWSWIRE) -- Beacon Federal Bancorp, Inc. ("the Company") (Nasdaq:BFED) announced today net income for the quarter ended December 31, 2007 of $880,000 compared to a net loss of $503,000 for the quarter ended December 31, 2006. The net loss for the quarter ended December 31, 2006 was primarily attributable to non-deductible severance and other expenses related to the acquisition in 2006 of the Marcy Federal Credit Union. Basic and diluted earnings per share were $.13 for the quarter ended December 31, 2007, the Company's first quarter as a public entity following its initial public offering in October 2007. The increase in net income reflected an increase in net interest income and non-interest income and lower non-interest expense, partially offset by an increase in provision for loan losses and income tax expense.