Penny Stock News: First Mountain Bancorp Announces First Quarter 2011 Results

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First Mountain Bancorp (OTCBB:FMBP) and its subsidiary, First Mountain
Bank, today reported quarterly consolidated net income of $65,002 or
earnings per basic share of $0.04 for the quarter ended March 31, 2011,
compared to net income of $105,449, or earnings per basic share of $
0.07 for the first quarter of 2010.

“We are pleased that the turnaround in earnings that began in 2010 has
continued into the first quarter of 2011,” stated Jack Briner, Chief
Executive Officer. “We are also pleased with the improvement in our
non-performing assets which declined by nearly $1.5 million during the
quarter, plus an additional $136,000 reduction subsequent to quarter

Total assets ended the quarter at $144,172,387 as compared to the
December 31, 2010, figure of $143,707,686. Total deposits were
$128,221,685 at March 31, 2011, compared to the December 31, 2010,
figure of $127,921,792. Assets and deposits have continued to grow in
spite of the continued economic pressures in the Bank’s market areas.

Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.

The best reasons to trade in penny stocks are the fact that they do not require a large initial investment, meaning that they are an affordable investment for many. Penny stocks are cheap. For example if you were to buy 1000 shares in a company with shares at 10 cents, you would only require an investment of $100, whereas if the shares cost $5 you would require an investment of $5000. Penny stocks also have the potential of huge gains, and have been known to rise as much as 1000% daily. Therefore your $100 investment can be worth $1000. This is very unlikely to happen to other stocks from large cap businesses.

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