Business and Finance Week
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CapitalSouth Bancorp
CapitalSouth Bancorp Announces Second Quarter 2008 Results
August 18th, 2008
CapitalSouth Bancorp (NASDAQ-GM:CAPB) (the "Company"), the bank holding company for CapitalSouth Bank (the "Bank"), announced a net loss for the second quarter and six months ended June 30, 2008, which included a non-cash impairment charge related to goodwill, a $9.3 million provision for loan losses and a $500,000 reserve against deferred tax assets. The Bank is adequately capitalized with a Tier I Leverage Capital Ratio of 6.74% and a Total Risk Based Capital Ratio of 9.67%. The Board of Directors remains committed to returning the Bank to well capitalized status. Further, the Bank has liquid resources in excess of $100 million currently available in cash on hand and other customary...
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Source: Business and Finance Week (2008-08-18)
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