Latest Focus Business Bk CA (FCSB) Headlines
Focus Business Bank Announces Unaudited Financial Results for December 31, 2013
Marketwire - Wed Feb 05, 8:12PM CST
Focus Business Bank (OTCQB: FCSB) announced unaudited financial results for the quarter and year ended December 31, 2013. Net income for the quarter was $315,000, or $0.11 per diluted share. For the year ended December 31, 2013, net income was $870,000, or $0.30 per diluted share, compared to $3,458,000, or $1.19 per diluted share, for the year ended December 31, 2012. The changes in net income for the quarter and year ended December 31, 2013 compared to the same periods in 2012 are primarily attributable to the reversal of the Bank's deferred tax asset in late 2012. Pre-tax income of $575,000 and $1,368,000 for the quarter and year ended December 31, 2013 increased 53% and 7%, respectively, compared to pre-tax income of $375,000 and $1,284,000 in the prior year quarter and annual periods. The primary contributors to the growth in pre-tax income were increases in net interest income and non-interest income which were partially offset by increased personnel and infrastructure growth.
Focus Business Announces Retirement of Founding Chairman of the Board Theodore Biagini
Marketwire - Fri Jan 24, 4:00PM CST
Focus Business Bank (OTCQB: FCSB) announced that its founding Chairman of the Board, Theodore Biagini, retired effective January 21, 2014. Mr. Biagini, age 73, was an organizer of the Bank and had served as Chairman since its opening on January 16, 2007. The Bank also announced that President and Chief Executive Officer Richard Conniff would assume the additional position of Chairman of the Board, director Ray Akamine was named Lead Independent Director and Julianne Biagini had been appointed to the Board of Directors.
Focus Business Bank Announces Record Growth and Unaudited Financial Results for September 30, 2013
Marketwire - Thu Oct 31, 4:00PM CDT
Focus Business Bank (OTCQB: FCSB) announced unaudited financial results for the quarter and nine months ended September 30, 2013. Net income for the quarter was $241,000, or $0.08 per diluted share. For the nine months ended September 30, 2013, net income was $555,000, or $0.19 per diluted share. Compared to the quarter and nine months ended September 30, 2012, increases in net interest income related to the growth in earning assets during 2013 were offset by increased operating expenses related to infrastructure growth and income taxes. As a result of the reversal of the valuation allowance on the deferred tax asset in late 2012, income taxes were significantly lower in the first nine months of 2012 compared to 2013.
Focus Business Bank Declares 5% Stock Dividend
Marketwire - Tue Aug 27, 7:30PM CDT
Focus Business Bank (OTCQB: FCSB) announced today that its Board of Directors has declared a 5% stock dividend. The dividend recognizes the Bank's 13 consecutive quarters of profitability, strong growth and excellent asset quality. At June 30, 2013, loans and deposits were at all-time high levels, there were no non-performing assets and net income for the first two quarters of 2013 was $313,000. Five shares of common stock will be issued as a dividend for every 100 shares of common stock owned by shareholders of record on September 12, 2013 and will be distributed on September 27, 2013. Cash will be paid in lieu of fractional shares, if any, based on the fair market value of the shares on the record date.
Geri Kennedy Joins Focus Business Bank as Vice President, Relationship Manager in the HOA Specialty Banking Group
Marketwire - Fri Aug 23, 3:06PM CDT
Focus Business Bank (OTCQB: FCSB) announced that Geri Kennedy has joined the Bank as vice president, relationship manager in the HOA Specialty Banking Group. This announcement was made by Teresa Powell, executive vice president of the Bank's Community Banking Division.
Focus Business Bank Announces Unaudited Financial Results for June 30, 2013 and Continued Strong Growth
Marketwire - Wed Jul 24, 7:10PM CDT
Focus Business Bank (OTCQB: FCSB) announced unaudited financial results for the quarter and six months ended June 30, 2013. Net income for the quarter was $162,000, or $0.06 per diluted share, compared to $264,000 or $0.10 per diluted share, for the quarter ended June 30, 2012. For the six months ended June 30, 2013, net income was $313,000, or $0.11 per diluted share, compared to $507,000, or $0.18 per diluted share, for the comparable period in 2012. Changes in net income were primarily the result of increases in net interest income which were offset by increases in non-interest expense associated with infrastructure growth and income taxes. As a result of the reversal of the valuation allowance on the deferred tax asset in late 2012, income taxes were significantly lower in the first six months of 2012 compared to 2013.
Focus Business Bank Announces Unaudited Financial Results for March 31, 2013 and Twelve Consecutive Quarters of Profitability
Marketwire - Fri May 03, 7:01PM CDT
Focus Business Bank (OTCQB: FCSB) announced unaudited financial results for the quarter ended March 31, 2013. Net income for the quarter was $151,000, or $0.05 per diluted share, compared to $243,000, or $0.09 per diluted share, for the quarter ended March 31, 2012. As a result of the reversal of the valuation allowance on the deferred tax asset in 2012, pre-tax earnings provide a more comparable measure of our performance. Pre-tax income for the quarter ending March 31, 2013 was $227,000 compared to $273,000 for the quarter ending March 31, 2012.
Focus Business Bank Makes Top Five in SBA Loan Production for the First Six Month SBA Fiscal Period of 2013
Marketwire - Mon Apr 08, 6:00AM CDT
Focus Business Bank (OTCQB: FCSB) -- President and Chief Executive Officer, Richard Conniff announced that Focus Business Bank achieved the number five ranking among all lenders within the U.S. Small Business Administration (SBA) San Francisco District Office in SBA loan production for the first six month SBA fiscal period of 2013.
Robert P. Gionfriddo Joins Focus Business Bank as Chief Business Banking Officer
Marketwire - Tue Mar 12, 7:00PM CDT
Focus Business Bank (OTCQB: FCSB): Focus Business Bank announced that Robert P. Gionfriddo has joined the Bank as Chief Business Banking Officer. This announcement was made by Richard Conniff, president and chief executive officer of Focus Business Bank.
Focus Business Bank Announces Unaudited Financial Results for the Quarter and Year Ended December 31, 2012
Marketwire - Thu Jan 31, 8:06PM CST
Focus Business Bank (OTCQB: FCSB) announced unaudited financial results for the quarter and year ended December 31, 2012. Net income was $391,000, or $0.14 per share, and $3,458,000, or $1.24 per share, for the quarter and year ended December 31, 2012, respectively. These results included an income tax benefit of $2,174,000 for the year ended December 31, 2012 resulting from the reversal of the valuation allowance on deferred tax assets. Reversal of the valuation allowance was based on the Bank's assessment that after eleven consecutive quarters of pre-tax net income it was likely that the benefits from the deferred tax assets would be realized.
Focus Business Bank Announces Unaudited Financial Results for December 31, 2013
Marketwire - Wed Feb 05, 8:12PM CST
Focus Business Bank (OTCQB: FCSB) announced unaudited financial results for the quarter and year ended December 31, 2013. Net income for the quarter was $315,000, or $0.11 per diluted share. For the year ended December 31, 2013, net income was $870,000, or $0.30 per diluted share, compared to $3,458,000, or $1.19 per diluted share, for the year ended December 31, 2012. The changes in net income for the quarter and year ended December 31, 2013 compared to the same periods in 2012 are primarily attributable to the reversal of the Bank's deferred tax asset in late 2012. Pre-tax income of $575,000 and $1,368,000 for the quarter and year ended December 31, 2013 increased 53% and 7%, respectively, compared to pre-tax income of $375,000 and $1,284,000 in the prior year quarter and annual periods. The primary contributors to the growth in pre-tax income were increases in net interest income and non-interest income which were partially offset by increased personnel and infrastructure growth.
Focus Business Announces Retirement of Founding Chairman of the Board Theodore Biagini
Marketwire - Fri Jan 24, 4:00PM CST
Focus Business Bank (OTCQB: FCSB) announced that its founding Chairman of the Board, Theodore Biagini, retired effective January 21, 2014. Mr. Biagini, age 73, was an organizer of the Bank and had served as Chairman since its opening on January 16, 2007. The Bank also announced that President and Chief Executive Officer Richard Conniff would assume the additional position of Chairman of the Board, director Ray Akamine was named Lead Independent Director and Julianne Biagini had been appointed to the Board of Directors.
Focus Business Bank Announces Record Growth and Unaudited Financial Results for September 30, 2013
Marketwire - Thu Oct 31, 4:00PM CDT
Focus Business Bank (OTCQB: FCSB) announced unaudited financial results for the quarter and nine months ended September 30, 2013. Net income for the quarter was $241,000, or $0.08 per diluted share. For the nine months ended September 30, 2013, net income was $555,000, or $0.19 per diluted share. Compared to the quarter and nine months ended September 30, 2012, increases in net interest income related to the growth in earning assets during 2013 were offset by increased operating expenses related to infrastructure growth and income taxes. As a result of the reversal of the valuation allowance on the deferred tax asset in late 2012, income taxes were significantly lower in the first nine months of 2012 compared to 2013.
Focus Business Bank Declares 5% Stock Dividend
Marketwire - Tue Aug 27, 7:30PM CDT
Focus Business Bank (OTCQB: FCSB) announced today that its Board of Directors has declared a 5% stock dividend. The dividend recognizes the Bank's 13 consecutive quarters of profitability, strong growth and excellent asset quality. At June 30, 2013, loans and deposits were at all-time high levels, there were no non-performing assets and net income for the first two quarters of 2013 was $313,000. Five shares of common stock will be issued as a dividend for every 100 shares of common stock owned by shareholders of record on September 12, 2013 and will be distributed on September 27, 2013. Cash will be paid in lieu of fractional shares, if any, based on the fair market value of the shares on the record date.
Geri Kennedy Joins Focus Business Bank as Vice President, Relationship Manager in the HOA Specialty Banking Group
Marketwire - Fri Aug 23, 3:06PM CDT
Focus Business Bank (OTCQB: FCSB) announced that Geri Kennedy has joined the Bank as vice president, relationship manager in the HOA Specialty Banking Group. This announcement was made by Teresa Powell, executive vice president of the Bank's Community Banking Division.
Focus Business Bank Announces Unaudited Financial Results for June 30, 2013 and Continued Strong Growth
Marketwire - Wed Jul 24, 7:10PM CDT
Focus Business Bank (OTCQB: FCSB) announced unaudited financial results for the quarter and six months ended June 30, 2013. Net income for the quarter was $162,000, or $0.06 per diluted share, compared to $264,000 or $0.10 per diluted share, for the quarter ended June 30, 2012. For the six months ended June 30, 2013, net income was $313,000, or $0.11 per diluted share, compared to $507,000, or $0.18 per diluted share, for the comparable period in 2012. Changes in net income were primarily the result of increases in net interest income which were offset by increases in non-interest expense associated with infrastructure growth and income taxes. As a result of the reversal of the valuation allowance on the deferred tax asset in late 2012, income taxes were significantly lower in the first six months of 2012 compared to 2013.
Focus Business Bank Announces Unaudited Financial Results for March 31, 2013 and Twelve Consecutive Quarters of Profitability
Marketwire - Fri May 03, 7:01PM CDT
Focus Business Bank (OTCQB: FCSB) announced unaudited financial results for the quarter ended March 31, 2013. Net income for the quarter was $151,000, or $0.05 per diluted share, compared to $243,000, or $0.09 per diluted share, for the quarter ended March 31, 2012. As a result of the reversal of the valuation allowance on the deferred tax asset in 2012, pre-tax earnings provide a more comparable measure of our performance. Pre-tax income for the quarter ending March 31, 2013 was $227,000 compared to $273,000 for the quarter ending March 31, 2012.
Focus Business Bank Makes Top Five in SBA Loan Production for the First Six Month SBA Fiscal Period of 2013
Marketwire - Mon Apr 08, 6:00AM CDT
Focus Business Bank (OTCQB: FCSB) -- President and Chief Executive Officer, Richard Conniff announced that Focus Business Bank achieved the number five ranking among all lenders within the U.S. Small Business Administration (SBA) San Francisco District Office in SBA loan production for the first six month SBA fiscal period of 2013.
Robert P. Gionfriddo Joins Focus Business Bank as Chief Business Banking Officer
Marketwire - Tue Mar 12, 7:00PM CDT
Focus Business Bank (OTCQB: FCSB): Focus Business Bank announced that Robert P. Gionfriddo has joined the Bank as Chief Business Banking Officer. This announcement was made by Richard Conniff, president and chief executive officer of Focus Business Bank.
Focus Business Bank Announces Unaudited Financial Results for the Quarter and Year Ended December 31, 2012
Marketwire - Thu Jan 31, 8:06PM CST
Focus Business Bank (OTCQB: FCSB) announced unaudited financial results for the quarter and year ended December 31, 2012. Net income was $391,000, or $0.14 per share, and $3,458,000, or $1.24 per share, for the quarter and year ended December 31, 2012, respectively. These results included an income tax benefit of $2,174,000 for the year ended December 31, 2012 resulting from the reversal of the valuation allowance on deferred tax assets. Reversal of the valuation allowance was based on the Bank's assessment that after eleven consecutive quarters of pre-tax net income it was likely that the benefits from the deferred tax assets would be realized.
