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Friday August 14, 2009
Crescent Financial Corporation (Nasdaq:CRFN), parent company of Crescent State Bank headquartered in Cary, North Carolina, announced that earnings for the second quarter of 2009 have been revised to fully account for the FDIC special assessment. The Company had previously been accruing for the estimated assessment over the year and has now recorded the entire special assessment in the second quarter of 2009. The revision effectively shifts expense which would have been recognized over the last half of the year into the second quarter. Unaudited net income for the three months ended June 30, 2009, before adjusting for the effective dividend on preferred stock, was $574,000 compared to net income of $1,031,000 for the prior year period. After adjusting for $422,000 in dividends and accretion on preferred stock, net income available for common shareholders for the current period was $152,000 or $0.02 per diluted share compared with $0.11 per diluted share for the quarter ended June 30, 2008. For the six months ended June 30, 2009, the Company reported net income, before adjusting for the effective dividend on preferred stock, of $1,185,000 compared to $2,031,000 for the six months ended June 30, 2008. After adjusting for $590,000 in dividends and accretion on preferred stock, net income available for common shareholders for the current period was $595,000 or $0.06 for the current period compared to $0.21 for the prior six-month period.
Eaton Vance Short Duration Diversified Income Fund (NYSE: EVG), a closed-end management investment company, today declared a monthly distribution of $0.09 per common share. As portfolio and market conditions change, the rate of future distributions may change. The distribution is expected to be paid on August 31, 2009, to shareholders of record on August 24, 2009. The ex-date is August 20, 2009.
American Campus Communities Inc. (NYSE:ACC), one of the largest owners, managers and developers of high-quality student housing properties in the U.S., today announced the closing of a $225 million senior secured revolving credit facility, increasing the current facility by $65 million. The new facility contains a three year term with a one year extension and is secured by seven properties. KeyBank National Association is the administrative agent for the credit facility.
Plumas Bancorp, (NASDAQ: PLBC), a bank holding company and the parent company of Plumas Bank, today announced that it has filed its Report on Form 10-Q for the quarter ended June 30, 2009 with the Securities and Exchange Commission.
The Board of Trustees of the ING Clarion Real Estate Income Fund (NYSE:IIA) (the “Fund”), which trades on the New York Stock Exchange under the symbol “IIA”, declared a monthly distribution of $0.045 per share for the month of August 2009.
Source: E-Gate System from Alphatrade.com
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