Charter Oak Bank Reports Another Positive Year
NAPA, CA–(Marketwire - January 21, 2009) - Charter Oak Bank (
Napa, California, reported net income before-tax for the year 2008 of
$87,000. That was an increase of $41,000 from 2007. After an adjustment of
$1,086,000 for the elimination of deferred tax asset valuation, the Bank’s
2008 net income after-tax was $1,174,000. Due to an additional loan loss
provision during December, the Bank recorded a fourth-quarter net loss
before-tax of $461,000.
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