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Clearing the path for NICE to build the connecting road between Bannerghatta Road and Hosur Road, Karnataka HC has upheld the acquisition of land in the contentious Gottigere village, Bangalore South, for the implementation of BMIC.
Siuslaw Financial Group (SFGP) is quoted on the NASDAQ over-the-counter bulletinboard. Its stock closed yesterday at $10.50 and has a 52-week price range of$8.15-16.00. * Sees Q3 revenue $80 mln-82 mln vs est $74.79 mln Stocks | Japan * Sees Q3 loss/shr $0.12-$0.13, excluding items * Q2 revenue $69 mln vs est. Siuslaw reported $280.6 million in total assets, deposits of $233.8 million andloans of $219.0 million on June 30, 2009. The Board of Directors declared a $0.10 share quarterly dividend to commonshareholders and $0.105 per share to preferred shareholders of record on July29, 2009, payable on or before August 5, 2009. Banker magazine in their June 2009 edition rated Siuslaw #35 basedon a three-year average return on equity as of December 31, 2008, among the top200 publicly traded community banks and thrifts in the nation with less than $2billion in assets. Despite the allocation for future loan losses, the reported after tax net incomerepresented a return on shareholder equity (ROE) of 13.29% and return on averageassets (ROA) at 1.38% is substantially above industry norms As a matter ofrecord, U.S.
Siuslaw did not allocate any reservefor future loan losses during the same period in 2008. In view of the rising unemployment rate (Oregon had the third-highestunemployment rate in the nation, as reported by the U.S. Department of Labor) inJune 2009, Siuslaw increased reserve for loan losses by $650,000 during thefirst half of 2009. "Unemployment relates directly to increased consumer debtdelinquencies in credit cards, mortgages, home equity and other consumer loans,"says Bruce Webber, chief credit officer. This is comparable to net income of $1,154,000 reported for the sameperiod last year. Earnings per diluted common share totaled $0.22 for thequarter.
Siuslaw Bank, the Group`s primary subsidiary, reported earnings of $954,000, ascompared to $1,223,100 for the same quarter in 2008. Year-to-date after taxearnings for Siuslaw Bank totaled $2,046,100, down $382,000, compared to$2,428,500 reported on June 30, 2008. Units of the Toronto, Ontario-based fund closed flat at 20Canadian cents Tuesday on the Toronto Stock Exchange.(Reporting by Ashutosh Joshi in Bangalore; Editing by PradeepKurup). FLORENCE, Ore.--(Business Wire)--Siuslaw Financial Group (OTCBB:SFGP) today announced operating results for thesecond quarter, ending June 30, 2009, including after tax net income of$903,000. The lenders have also agreed that no default interest wouldaccrue or be payable during the forbearance period and haveagreed to waive certain prepayment fees, the fund added.
The fund said that the total principal outstanding underthe senior credit agreement is about C$242 million, which isowed by its unit Newport Finance Corp to the lenders. The forbearance period could be reduced upon the occurrenceof certain new defaults, the company said in a statement. * Lenders not to enforce rights for up to 365 days * No default interest to accrue during forbearance period July 21 (Reuters) - Canada's Newport Partners Income Fund(NPF_u.TO) said its lenders agreed not to enforce theirdefault-related rights under a senior credit agreement for upto an year, after the company defaulted on certain obligationsunder the agreement. The J-2X willbe tested at simulated altitudes up to 100,000 feet on the 300-foot A-3 teststand currently under construction at the center.Journalists wishing to view the final space shuttle main engine test shouldcontact Chris McGee, the news chief at Stennis, at 228-688-3249 by noon onTuesday, July 28 Reporters must arrive at Stennis by 1 p.m.
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