Yadkin Valley Financial swings to loss in Q2

Tue. August 18, 2009; Posted: 08:55 AM

Look up the PowerRating of YAVY and see how it has performed over the past week as well as the current proprietary PowerRating.

Aug 18, 2009 (Datamonitor via COMTEX) -- YAVY | Quote | Chart | News | PowerRating -- Yadkin Valley Financial has reported a net loss available to common shareholders of $7.08 million, or $0.46 per share, for the second quarter ended June 30, 2009, compared to a net income available to common shareholders of $1.73 million, or $0.15 per share, for the second quarter ended June 30, 2008.

For the second quarter of 2009, net interest income increased to $17.55 million from $10.37 million for the second quarter of 2008.

The company reported a net loss available to common shareholders of $11.69 million, or $0.87 per share, for the first six months ended June 30, 2009, compared to a net income available to common shareholders of $4.64 million, or $0.42 per share, for the first six months ended June 30, 2008.

Net interest income for the first six months of 2009 was $27.47 million, compared to $19.73 million for the same period of 2008.

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