News & Analysis » US
Firstbank Turns To Profit In Q2; Declares Dividend
(RTTNews) - Firstbank Corp. (FBMI) posted second-quarter net income available to common shareholders of $525 thousand or $0.07 per share, compared with a net loss of $351 thousand or $0.04 per share in the same quarter last year.
On average, 2 analysts polled by Thomson Reuters expected the company to earn $0.02 per share. Analysts' estimates typically exclude special items.
Net-interest income for the quarter increased to $12.66 million from $11.85 million in the year-ago period. Total non-interest income was $2.4 million, compared to $5.1 million in the previous year quarter.
In a separate press release, the company announced that a $0.01 per share cash dividend will be paid September 16, 2010, to common stock shareholders of record as of August 27, 2010. The $0.01 per share cash dividend is unchanged from the amount paid in the prior quarter.
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