Citizens Republic Bancorp(Nasdaq: CRBC) announced today a net loss of $7.2 million for the three monthsended September 30, 2008, compared with a net loss of $201.6 million for thesecond quarter of 2008 and net income of $31.8 million for the third quarterof 2007. Diluted net income (loss) per share was $(0.07), compared with$(2.53) for the second quarter of 2008 and $0.42 for the third quarter of2007.
For the first nine months of 2008, Citizens recorded a net loss of $197.7million, or $(2.36) per diluted share, compared with net income of $72.9million or $0.96 per diluted share for the same period of 2007. The decreasewas primarily the result of the goodwill impairment charge, credit writedownand fair-value adjustments in the second quarter of 2008 as well as a higherprovision for loan losses. read more
Source:http://www.ibtimes.com/prnews/20081016/mi-citizens-rep-ern.htm
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. A mortgage loan is a secured loan in which the collateral is property, such as a home.
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