Earnings Call Excerpt
Rurban Financial Corporation (RBNF)
F2Q08 Earnings Call
July 17, 2008 4:00 pm ET
Executives
Valda Colbart- Investment Relations Officer
Kenneth Joyce- President and CEO
Duane Sinn- Executive VP and CFO
Mark Klein- Pres. and CEO of the State Bank and Trust Company
Henry Thiemann- President and CEO of RFCBC, Inc.
Presentation
Operator
Good afternoon and welcome ladies and gentlemen to the Rurban Financial Corp. second quarter 2008 earnings conference call and webcast. At this time I would like to inform you that this conference call is being recorded and all participants are in a listen-only mode. We will open up the conference to the investment community for questions and answers following the presentation. I will now turn the conference over to Valda Colbart, Investor Relations Officer.
Please go ahead, Valda.
Valda Colbart
Good afternoon, everyone. I would like to remind you that this conference call is being broadcast live over the internet and will also be archived and available on our website, www.rurbanfinancial.net until August 7th, 2008.
Joining me today is Ken Joyce, Duane Sinn, Mark Klein, and Hank Thiemann. But before we get started, I would like to make our usual Safe Harbor statement and remind everyone that comments made during this conference call regarding Rurban’s anticipated future performance are forward-looking and therefore involve risk and uncertainties that could cause the results or developments to differ significantly from those indicated in these statements. These risks and uncertainties include but are not limited to risks and uncertainties inherent in general and local banking; insurance and mortgage conditions; competitive factors specific to markets in which the company and its subsidiaries operate. Future interest rate levels, changes in local real estate markets, legislative and regulatory decisions, poor capital market conditions, and other factors set forth in the company’s filings with the SEC. I will now turn the call over to Ken Joyce, President and CEO of Rurban Financial Corp. Ken?
Kenneth Joyce
Thank you Valda, and welcome to the second quarter 2008 webcast. Joining me today and presenting are Mark Klein, President and CEO of the State Bank and Trust Company; Hank Thiemann, President of RDSI, our Data and Item Processing Company and Duane Sinn, our CFO.
In the last webcast I referred to the first quarter of this year as a breakthrough quarter for Rurban. Following through with that view we are pleased to announce earnings of $1.36 million for the second quarter, which equates to $.28 per share. This compares to earnings of $785,000 for the year ago quarter, a 73% improvement over the last years quarter and 22% over last years’ net income of $1.1 million.
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