Green Bankshares stumbles 10% after missing Q2 profit expectation
Green Bankshares, Inc. (Nasdaq:GRNB) is falling 10% in morning trading after the Greeneville, Tenn.-based bank holding company posted second-quarter earnings of $1.5 million, or $0.11 per share, plunging 79% from $7.1 million, or $0.62 per share, a year earlier. The results widely missed Wall Street’s expectation of earning $0.51 per share.
Net interest income during the quarter rose 9% to $25 million, versus $22.9 million during same period of 2007. Quarterly non-interest income totaled $8.1 million, up 25% from $6.5 million a year ago.
In Friday morning trading, GRNB is down 10.98%, or $1.62, to $13.13. For detailed price information and recent news stories about Green Bankshares, click GRNB.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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