latest news releases from the newsroom
Putnam County Savings Bank
CMS Bancorp, Inc. Announces Improved December 31, 2008 Quarter End Results, Update On Stock Repurchase Program, and Withdrawal of Application to Participate in the Treasury 'TARP' Program
WHITE PLAINS, N.Y., Feb. 10, 2009 (GLOBE NEWSWIRE) -- CMS Bancorp, Inc. (Nasdaq:CMSB) (the "Company"), the parent of Community Mutual Savings Bank, announced that the Company has withdrawn its application to participate in the TARP Capital Purchase Program administered by the United States Treasury. Commenting on the decision to withdraw the application, President and CEO John Ritacco stated, "The capital position of the Company remains strong and the Bank continues to exceed all of its regulatory capital requirements as a "well capitalized" financial institution. We have not experienced the capital issues associated with loan losses and investment losses that other financial institutions have faced, and we believe that we have sufficient capital for the foreseeable future to grow the Company in a sound and conservative manner. If the Company were to need additional capital, we believe that it could access capital from sources other than the federal government on terms that are more flexible than those available under the TARP program."
Heritage Oaks Bancorp
Heritage Oaks Bank Promotes William Raver to Executive Vice President
PASO ROBLES, Calif., Feb. 10, 2009 (GLOBE NEWSWIRE) -- Heritage Oaks Bancorp (Nasdaq:HEOP), the parent company of Heritage Oaks Bank, today announced the promotion of William (Bill) Raver to the position of Executive Vice President/General Counsel. For the past three years, Bill has served the bank in the capacity of Compliance Officer and was recently promoted to General Counsel in July of 2008. In his newly expanded role, Bill will now oversee Legal, Compliance, Regulatory, and Corporate Governance, as well as Risk Management issues.
Yadkin Financial Corporation
Crescent Financial Corporation Announces Financial Results for the Year Ended December 31, 2008
CARY, N.C., Feb. 10, 2009 (GLOBE NEWSWIRE) -- Crescent Financial Corporation (Nasdaq:CRFN), parent company of Crescent State Bank in Cary, North Carolina today announced unaudited net income for the year ended December 31, 2008 of $2,011,000 or $0.21 per diluted share compared with $6,248,000 or $0.65 per diluted share for the year ended December 31, 2007. The decline in earnings was primarily due to a decrease in net interest margin and an increase in provision for loan losses.
Macatawa Bank Corporation
Macatawa Bank Corp. Announces Leadership Changes
HOLLAND, Mich., Feb. 10, 2009 (GLOBE NEWSWIRE) -- Macatawa Bank Corp. (Nasdaq:MCBC) today announced leadership changes at the board and executive level, including the resignation of Benj. A Smith III as Chairman and CEO. Smith will continue to serve as director of the holding company and the bank.
NASDAQ Announces End-of-Month Open Short Interest Positions in NASDAQ Stocks as of Settlement Date January 30, 2009
NEW YORK, Feb. 10, 2009 (GLOBE NEWSWIRE) -- At the end of the settlement date of January 30, 2009, short interest in 2,540 NASDAQ Global Market(sm) securities totaled 6,848,382,252 shares compared with 6,775,040,361 shares in 2,560 Global Market issues reported for the prior settlement date of January 15, 2009. The end-of-January short interest represents 3.35 days average daily NASDAQ Global Market share volume for the reporting period, compared with 4.27 days for the prior reporting period.
OMNI Energy Services Corp.
OMNI Announces Contract Award and Schedules Earnings Release and Conference Call
CARENCRO, La., Feb. 10, 2009 (GLOBE NEWSWIRE) -- OMNI Energy Services Corp. (Nasdaq:OMNI) today announced that it has been awarded a significant project with a leading seismic data acquisition company. The project, expected to commence March 1, 2009, encompasses in excess of 5,000 holes, 85% of which are in the transition zone in Louisiana, and the balance being highland activity. The contract will generate approximately $2.5 million in revenue during the first and second quarter of 2009.
Kforce Reports Revenue of $241.0 Million and EPS of $0.19 Before Impairment Charge for the Fourth Quarter of 2008
TAMPA, Fla., Feb. 10, 2009 (GLOBE NEWSWIRE) -- Kforce Inc. (Nasdaq:KFRC), a provider of professional staffing services and solutions, today announced results for its fourth quarter of 2008. For the quarter ended December 31, 2008, revenue from continuing operations was $241.0 million, a decrease of 2.4% over the quarter ended December 31, 2007 and 4.0% over the quarter ended September 30, 2008. Excluding the non-cash goodwill and other intangible assets impairment charge recorded in the quarter ended December 31, 2008, Kforce reported net income of $7.4 million, or $0.19 per share, versus $10.0 million, or $0.24 per share, in the comparable quarter in 2007, which represents a year-over-year decline of 26.2% in net income and 20.8% in earnings per share. Net income for the quarter ended September 30, 2008 was $7.9 million, or $0.20 per share.