latest news releases from the newsroom
Vianale & Vianale LLP
Vianale & Vianale Announces Class Action Against Vaxgen, Inc. -- VXGN
BOCA RATON, Fla., April 25, 2003 (PRIMEZONE) -- The Florida law firm of Vianale & Vianale LLP announced that it filed a class action lawsuit on April 22, 2003, on behalf of purchasers of the securities of VaxGen, Inc. ("Vaxgen") (Nasdaq:VXGN) between August 6, 2002 and February 26, 2003, inclusive. A copy of the complaint filed in this action is available from the Court, or can be viewed on Vianale & Vianale's website at: http://www.vianalelaw.com
PAB Bankshares, Inc.
PAB Bankshares, Inc. Announces First Quarter 2003 Earnings
VALDOSTA, Ga., April 25, 2003 (PRIMEZONE) -- PAB Bankshares, Inc. (AMEX:PAB), the holding company for The Park Avenue Bank of Valdosta, Georgia, announced preliminary earnings for the first quarter ending March 31, 2003. The Company reported net income of $1.83 million, or $.19 per diluted share, for the quarter, a 5% increase compared to net income of $1.74 million, or $.18 per diluted share, during the first quarter of 2002. Earnings for the quarter were supported by $166,000 in securities gains, after tax. "We are pleased with the results for the quarter. This is a good start for what we foresee to be a challenging year for us," stated Michael E. Ricketson, President and Chief Executive Officer. "Our balance sheet continued to contract during the quarter as opportunities for loan growth were less than expected, and as a result, this level of earnings may be difficult to sustain over the next few quarters," Ricketson added.