Tel Aviv, Sep.18 (ANI): Israel’s National Security Council’s Counter-Terrorism Bureau has issued a terror warning for India, saying a Pakistani terror group, having close links with Al-Qaeda, is planning to carry out series of strikes across the country.
“A Pakistani terror organization affiliated with al-Qaida and responsible for the attacks in Mumbai last year is planning to carry out a string of attacks throughout the Indian subcontinent,” the notice issued by the bureau stated.
The warning said that though foreigners, especially from western countries could be targeted, and that Israelis and places where Israelis usually assemble in large numbers are on top of the terror outfit’s hit list.
The bureau rated the threat as ‘imminent and concrete’ and emphasized on the Jammu and Kashmir region, The Jerusalem Post reported.
This is probably the first time that such a warning has been issued regarding threat to Israelis in India, as India is considered a friendly country with thousands of Israelis living in different part of the nation. (ANI)
Folsom Lake Bank Tops $71 Million in Assets With 3/31/09 Financial Results
FOLSOM, Calif., April 16 /PRNewswire-FirstCall/ — Folsom Lake Bank (OTC
Bulletin Board: FOLB), announced unaudited financial results for the quarter
ending March 31, 2009, its second full year of operations. Total assets grew
to $71.2 million, an increase of $33.2 million or 87% over the 1st quarter of
2008. Assets were up $10.7 million or 17% over the prior quarter ending
12/31/08. Total deposits grew to $55.2 million, increasing $11.4 million (26%)
for the quarter and $31.4 million (132%) compared to the prior year. Total
loans outstanding as of March 31, 2009 were $42.8 million, up $4.8 million
(13%) for the quarter and $20.1 million (88%) compared to the prior year.
Robert J. Flautt, President and CEO commented, “We are pleased with the
continued strong growth this past quarter and look forward to additional
growth as we add our second branch in Roseville later this year.” The new
branch on Douglas Blvd is expected to open early July.
First quarter revenue for the Bank was $946,107 up $417,326 or 79% from the
first quarter of 2008 attributable to a strong increase in fee income and a
healthy net interest margin. The Bank reported a net loss of $461,803 for the
quarter, larger than the previous year’s $366,564 loss due to a higher
provision for the loan loss reserve. Operating losses are normal for a startup
bank and the Bank continues to march toward a profitable operation. Excluding
the provisions from both quarters the 3/31/09 loss would be $161,803 and the
3/31/08 loss would be $291,564, an improvement of $129,761 or 44.5%.
The Bank made a special provision of $300,000 in the first quarter to the
allowance for loan losses, to enhance its reserve in these unique economic
times. The Bank also experienced its first loss on a small commercial loan.
The net result was an increase in the loan loss reserve to 1.44% of loans from
the previous year’s 1.17%. Commented Flautt, “We are not unaffected by the
economic downturn, however our loan portfolio remains strong with no past due
or non-accrual loans. We remain an active lender in the community and look
forward to a continued growth in our loan portfolio.”
Folsom Lake Bank is the area’s newest community bank. The Bank is a locally
owned and locally operated full service commercial banking organization
focused on small business owners, professionals and individuals in the
communities surrounding Folsom Lake. By providing the personal attention that
clients want and delivering banking services that they need, the bank
continues to build strong banking relationships across the communities that it
serves. Folsom Lake Bank is publicly traded on the Over-the-Counter Bulletin
Board. Howe Barnes Hoefer and Arnett (John Cavender 415-538-5725) is the primary
market maker. For more information please call Robert Flautt at 916-235-4570.
This correspondence may contain “forward-looking statements” within the
meaning of Section 27A of the Securities Act. All of the statements contained
in this correspondence, other than statements of historical fact, should be
considered forward-looking statements. Although the Bank believes the
expectations reflected in those forward-looking statements are reasonable, it
can give no assurance that those expectations will prove to have been correct.
Investors are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof and are not intended to
give any assurance as to future results.
SOURCE Folsom Lake Bank
Bob Flautt, CEO, +1-916-235-4570, or Jack Olson, CFO, +1-916-235-4600, both of
Folsom Lake Bank