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Showing posts with the label Zions' Bancorporation

Positive second qtr 2008 results for Carver

Carver Bancorp, Inc. reported earning $700,000, or 27 cents per share, in the second quarter of 2008. The bank declared a cash dividend of 10 cents per share. This compares favorably to the mammoth writedowns, and the resulting hits to income, large banks are reporting this quarter. For example, according to Marketwatch.com,

"Salt Lake City-based Zions' Bancorporation..closed down 14.3%, becoming the top loser among financials after a rapid tumble.. The fall in the bank's share price comes after Moody's Investors Service said it was reviewing the company for a downgrade.

Wachovia reported a second-quarter loss of $9.11 billion, or $4.31 a share, last month. Wachovia ended 12% lower as traders beat down the stock on news that the bank is revising lower its second-quarter loss by $500 million pretax. This was to reflect a hit it is likely to take from settlement discussions with regulators of investigations relating to auction-rate securities."

Thus, small, minorit…