Stock Alert for Dearborn Bancorp Inc. Issued by MicroStockProfit
April 27 2010 - 5:50AM
MicroStockProfit.com announces an investment report featuring
Dearborn Bancorp Inc. (Nasdaq:DEAR). The report includes financial,
comparative and investment analyses, and industry information you
need to know to make an educated investment decision.
The full report is available at:
www.microstockprofit.com/ads/DEAR
Dearborn Bancorp Inc. (DEAR) is a bank holding company owning
all the common stock of Fidelity Bank ("Bank"). The Bank is the
only commercial bank headquartered in Dearborn, Michigan and
conducts business primarily in Wayne, Macomb, Oakland and Washtenaw
Counties, Michigan. The Bank offers a range of financial products
and services. These include checking accounts, savings accounts,
money market accounts, certificates of deposit, business checking,
direct deposit, loan services, travelers' checks, cashiers' checks,
wire transfers, safety deposit boxes, online banking, telephone
banking and more.
Message Board Search for DEAR:
http://www.boardcentral.com/boards/DEAR
In the report, the analyst notes:
"Due to a continuous and ongoing diligent loan review, the
allowance for loan losses and provision for loan losses have been
increased by $10 million from amounts previously reported on its
press release dated January 19, 2010. During the period between
January 19, 2010, and March 22, 2010, the Bank received updated
financial statements and collateral evaluations on several of its
problem loan customers requiring the further down-grading of
credits, the application of higher historical loss factors, and
larger valuation allowances for the Bank's calculation of its
Allowance for Loan Losses as of December 31, 2009.
"DEAR, the Holding Company for Fidelity Bank
("Bank"), recently reported net income of $1,128,000 or $0.15 per
fully diluted common share for the three months ended March 31,
2010, compared to a net loss of $6,249,000 or $(0.81) per share for
the three months ended March 31, 2009. The Company's Shareholders'
Equity of $43,180,000 equates to a book value of $5.62 per share
compared to the market closing price of $1.11 on March 31, 2010. In
accordance with regulatory capital guidelines, the Bank remains
"undercapitalized" at March 31, 2010."
To read the entire report visit:
www.microstockprofit.com/ads/DEAR
See what investors are saying about DEAR at penny stock
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MicroStockProfit.com Disclosure
MicroStockProfit.com is not a registered investment advisor and
nothing contained in any materials should be construed as a
recommendation to buy or sell any securities. MicroStockProfit.com
is a Web site wholly owned by BlueWave Advisors, LLC. Neither
MicroStockProfit.com nor its affiliates have a beneficial interest
in the mentioned company; nor have they received compensation of
any kind for any of the companies listed in this communication.
Please read our report and visit our Web site,
MicroStockProfit.com, for complete risks and disclosures.
CONTACT: MicroStockProfit.com
Brian Johnson
1-888-307-2850
info@microstockprofit.com
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