BUENA PARK, Calif., Jan. 10, 2007 (PRIME NEWSWIRE) -- Uniti Financial Corporation (OTCBB:UIFC), parent company of Uniti Bank, announced its fourth quarter operating results. The Company reported net income of $490,176 for the quarter or $0.106 per basic share. The Company reported, as of December 31, 2006 total assets of $241,719,000, total equity of $26,499,000, total deposits of $191,025,000 and total net loans of $178,654,000. As compared to the prior quarter, total assets grew by approximately $11,930,000 or 5.2%, and total deposits grew by approximately $9,606,000 or 5.3%. The Company's total equity grew by approximately $672,000 or 2.6%.
The Company also reported net income after tax for the year ended 12/31/2006 of $2,159,150, or $0.465 per basic share, as compared to $1,902,101 or $0.482 per basic share for the year ended 12/31/2005. As compared to the prior year, total assets grew by approximately 17.7%, and total deposits grew by approximately 3.4%. The Company's total equity grew by approximately $8.3 million or 45.9%.
Note: these results are not audited yet and are subject to change.
About Uniti Financial Corporation (UIFC):
Headquartered in Buena Park California, Uniti Financial Corporation is the parent Company of Uniti Bank, and is the only independent bank holding company headquartered in Orange County. Uniti Financial Corporation has assets in excess of $240 Million and operates 1 community bank with 3 banking offices located in Los Angeles & Orange Counties, in California. The Company specializes in providing personalized community banking services to individuals and small to mid-size businesses. Uniti Financial Corporation also offers the convenience of 24-hour access through ATM networks, telephone and on-line banking. Uniti Financial Corporation's common stock is listed on the NASDAQ Bulletin Board under the symbol UIFC. Additional information may be found at the Company's web site at www.unitibank.com.