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Yadkin Valley Financial turns to loss in Q3

Posted on: Fri, 23 Oct 2009 09:38:00 EDT

Symbols: YAVY

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Oct 23, 2009 (Datamonitor via COMTEX) --
YAVY | Quote | Chart | News | PowerRating -- Yadkin Valley Financial has reported a net loss to common shareholders of $68.7 million, or $4.26 per diluted share, for the third quarter ended September 30, 2009, compared to a net income to common shareholders of $1.8 million, or $0.15 per diluted share, for the third quarter ended September 30, 2008.

For the third quarter of 2009, net interest income increased to $18.38 million from $10.62 million for the third quarter of 2008.

The company has reported that net loss to common shareholders for the first nine months ended September 30, 2009 was $80.65 million, or $5.62 per share, compared to a net income to common shareholders of $6.43 million, or $0.57 per share, for the first nine months ended September 30, 2008.

Net interest income for the first nine months of 2009 was $45.85 million versus $30.35 million for the comparable period of 2008.

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