American Principle Bank financial results
It looks like American Principle Bank reports its 3rd quarter financial reports for everyone to see. how well did they do? According to Marketwatch, American Principle Bank had record levels of loans as well as other outstanding losses which has caused this bank to lose for another consecutive time. With a loss of $196 thousand during the third quarter of 2008, many are weary of putting stakes into this bank at the moment. Lets see if they can shape things up in the upcoming year.
Just to give you an idea of where the bulk of the increasing loans were you can see below.
commercial business loans, which increased from $14.1 million at June
30, 2008 to $25.9 million at September 30, 2008; and
commercial real estate loans, which increased from $24.2 million at June
30, 2008 to $26.4 million at September 30, 2008.
Obviously its not the worse case scenario, but we will keep our eye on American Principle bank and let you know what else might come up for not only investors, but those putting their money into certificate of deposits and other long term investments.
