latest news releases from the newsroom
Community Shores Bank Corporation
Community Shores Reports 2008 Second Quarter Earnings
MUSKEGON, Mich., July 24, 2008 (PRIME NEWSWIRE) -- Community Shores Bank Corporation (Nasdaq:CSHB), Muskegon's only locally headquartered independent community banking organization, today reported second quarter 2008 net income of $11,000, or $0.01 per diluted share, compared with net income of $18,000, or $0.01 per diluted share for the second quarter of 2007. Six months year-to-date earnings were $43,000, or $0.03 per diluted share, compared with $246,000, or $0.17 per diluted share, for the first half of 2007. Year-over-year results reflect the impact of net interest margin compression and a decline in asset quality, partially offset by higher noninterest income.
Toll Brothers, Inc.
Toll Brothers Announces Completion of Employee Stock Option Exchange Program
HORSHAM, Pa., July 24, 2008 (PRIME NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL) (www.tollbrothers.com), the nation's leading builder of luxury homes, today announced the completion of its employee stock option exchange program, which expired at 5:00 p.m. EDT on July 17, 2008. All outstanding eligible options that were properly tendered for exchange by eligible employees have been accepted. The Company believes the program, which reduced the number of shares subject to outstanding stock options by 914,266 shares, will have a positive effect on the retention and motivation of participating employees.