The Bt Brinjal has found a naysayer from a strange quarter – RSS chief Mohan Bhagwat!
In Illinois, thenon-performing loans/ loans ratio is 1.1% ($25.5 million/$2.31 billion), whereasthe ratio is 6.1% ($11.2 million/$182.1 million) in Indiana and 13.6% ($90.4million/$0.67 billion) in Florida. Our credit challengesare primarily within our Indianapolis and Florida markets. Additionally, downward pressure on the net interestmargin primarily attributable to lost interest income on non-accrual loans andloans charged-off, and increased FDIC insurance have negatively affected ourearnings.Our Illinois markets continue to perform remarkably well. We recorded $47.5 million in provision for loan losses in the secondquarter of 2009 as compared to $12.3 million in the same period of 2008.Year-to-date, our provision for loan losses was $57.5 million, as compared to$14.5 million in 2008. On a year-to-date basis, consolidated net loss was $15.0 million,or $0.42 per fully-diluted share in 2009 as compared to net income of $14.6million, or $0.41 per fully-diluted share in 2008.The decline in net income was primarily due to increased provision for loanlosses. First Busey Announces Second Quarter 2009 Loss, Pre-Provision Profit andDividend PaymentURBANA, Ill., July 21, 2009 (GLOBE NEWSWIRE) — First Busey Corporation’s(Nasdaq:BUSE) consolidated net loss for the quarter ended June 30, 2009 was$20.5 million, or $0.57 per fully-diluted common share, compared to net incomeof $4.6 million, or $0.13 per fully-diluted common share, for the quarter endedJune 30, 2008.
The Company holds an average of 50% interest in the Tishomingogas field in Oklahoma and varied interests in three other areas in theNorthern and Central regions of the United States and in Europe, where it iscurrently pursuing the exploration, development and production of shale andtight sand gas plays. The Company’s common shares are traded on the TorontoStock Exchange under the stock symbol BKX.The TSX does not accept responsibility for the adequacy or accuracy ofthis news release.SOURCEBNK Petroleum Inc.Wolf Regener, President and Chief Executive Officer, (805) 484-3613, Email:, Website: . is a California based oil and gas exploration andproduction company focused on finding and exploiting large oil and gasresource plays. Hisinternational experience will be invaluable to our Company as we continue topursue international shale gas opportunities,” said Wolf Regener, BNK’sPresident and CEO.About BNK Petroleum Inc.BNK Petroleum Inc. He graduated first in hisclass from West Point and received a BA and MA as a Rhodes Scholar at Oxford,and numerous honorary degrees from other institutions. Among his awards arethe Presidential Medal of Freedom, the Silver Star, Purple Heart and honoraryknighthoods from the United Kingdom and the Netherlands.”It is a privilege to have General Clark join our Board of Directors.
Comments are closed.