New ETF Book by Larry Connors - Click here to read more
For the year ended December 31, 2008, Tower Financial reported a net income of $1.9 million, or $0.46 per diluted share, compared to a net loss of $2.6 million, or $0.64 per share, for the year ended December 31, 2007, an improvement of $4.5 million.
Total revenue, consisting of net interest income and non-interest income, was $6.6 million for the fourth quarter 2008, a decrease of $146,000 from the fourth quarter 2007.
Fourth quarter 2008 net interest income was $5.2 million, a decrease of $253,000, or 4.7% from the third quarter 2008, and a slight decrease of $50,000, or 0.97% compared to the fourth quarter 2007.
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