SOURCE: Coronado First Bank
CORONADO, CA--(Marketwire - Oct 30, 2012) - Maria P. Kunac, President and Chief Executive Officer of Coronado First Bank (OTCQB: NADO), announced today the bank's earnings for Third Quarter 2012.
Based on unaudited financial results for the third quarter ended September 30, 2012, Coronado First Bank reported net profit of $357,000 for the quarter and $930,000 for the first nine months of 2012.
As of September 30, 2012 total assets were $166 million and total deposits were $126 million. The bank maintained very strong capital ratios finishing the quarter with a Tier 1 Leverage Capital Ratio of 15.79% and a Total Risk Weighted Capital Ratio of 22.84%. At September 30, 2012, the bank's book value per share was $10.87, an increase of $0.32 per share from year end 2011.
Ms. Kunac stated, "It is our continued objective to fulfill our commitment of providing superior service to our clients, superior returns to our shareholders and establishing a legacy of high quality community banking."
Coronado First Bank is publicly traded on the Over the Counter Bulletin Board (OTCQB), ticker symbol: "NADO," with total shares outstanding for Coronado First Bank stock of 2,611,145.
This press release may include forward-looking statements that involve inherent risks and uncertainties. Coronado First Bank cautions readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. These factors include economic conditions and competition in the geographic and business areas in which Coronado First Bank operates, inflation, fluctuations in interest rates, legislation and governmental regulation. You should not place undue reliance on forward-looking statements and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise.