Central Virginia Bankshares Q4 net income down
8th February 2008
Central Virginia Bankshares, a bank holding company, has reported net income of $1 million, a decrease of 13.1% for the fourth quarter of 2007, compared to $1.16 million for the fourth quarter of 2006.
For the full-year period of 2007, net income was $3.98 million, compared to $5.15 million for the full-year period of 2006.
Ralph Lyons, president and CEO, said: "I can't say we were overly pleased with the results for 2007, however, our profits were still $4 million, and we anticipated the negative impact of margin compression in view of the past year's interest rate environment and our bank's asset sensitivity."