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| Community Shores Income, Earnings Down |
| Published: July 24, 2008 |
MUSKEGON — Community Shores Bank Corp. today reported second quarter 2008 net income of $11,000, or 1 cent per diluted share, compared with net income of $18,000, or 1 cent per diluted share for the second quarter of 2007. Earnings for the first six months were $43,000, or 3 cents per share, versus $246,000, or 17 cents per share, for the first half of last year. According to Community Shores, the year-over-year results reflect the impact of net interest margin compression and a decline in asset quality, partially offset by higher non-interest income. |
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