Indiana Business Bancorp is in the StockGuru Spotlight for September 7, 2010

Indiana Business Bancorp is in the StockGuru Spotlight for September 7, 2010

DALLAS, TEXAS : StockGuru announces that Indiana Business Bancorp (OTCBB: IBBI) is in the StockGuru Spotlight.  Indiana Business Bancorp is a bank holding company whose operations are conducted through its subsidiary, Indiana Business Bank, a state-chartered, locally-owned and managed commercial bank formed for the purpose of providing highly-personalized banking services for small to medium-sized businesses, their owners and professional services firms in the Indianapolis, Indiana metropolitan area. The bank provides a full line of commercial banking loan, deposit, and cash management services that are delivered in a highly personalized manner by experienced banking professionals. The bank specializes in serving the commercial and consumer banking needs of small to medium sized businesses and their owners, and professionals located primarily throughout Central Indiana.
 
On Friday, the company put out news announcing results for the three months ended June 30, 2010. The Company recorded a net loss of ($484,678), or ($.32) per share, for the quarter. This compares to a profit of $37,907, or $.03 per share for the quarter ending June 30, 2009. The loss was primarily due to a provision expense of $706,250 charged during the 2010 quarter. The increased provision primarily related to a single commercial real estate borrowing relationship that was restructured. The underlying real estate was reappraised in June at a value substantially less than the original appraised value obtained in 2006. As a result of this new information, the book value of the restructured loan was written down to reflect the current appraised value of the real estate, underlying cash flows, and general market conditions.
 
  
Shares for Indiana Business Bancorp (OTCBB: IBBI) were down during the late afternoon of trading on Friday and closed down two dollars and five cents at closing.
  
 
To view our StockGuru Spotlight on Indiana Business Bancorp (OTCBB: IBBI), please visit: http://www.stockguru.com  
 
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The StockGuru Spotlight features stocks that we expect some action in. Generally speaking we expect a strong showing in the market based on the market, our knowledge of the stock and the buzz in the markets. Many times these will be stocks that have big news out recently, there is fresh interest in getting the word out on these stocks or we hear a buzz in our day to day contacts on these stocks. If we think it is going to move or see action, we put it in the StockGuru Spotlight.  If we are compensated for a stock in the Spotlight, it will be clearly disclosed within this Spotlight Announcement.  
 
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