Listed in Penny Stocks, Stock Picks, StockGuru.com, Day Trading, Best Stocks
MANCHESTER, NH–(Marketwire – Apr 27, 2011) – Hampshire First Bank’s (the “Bank”) (OTCBB: HFBN) net income for the three months ending March 31, 2011 totaled $374,000 or $0.13 (basic and diluted) per share compared to net income of $174,000 or $0.06 (basic and diluted) per share for the same period last year. Net interest income for the first quarter of 2011 amounted to $2,146,000 while fee income totaled $87,000. These amounts show increases of $585,000 and $39,000 respectively over first quarter of 2010 results. “The improvement in net interest income is primarily a result of the Bank’s overall growth,” said James Dunphy, President and CEO of Hampshire First Bank. “Fee income increases came from gains on residential loan sales.”
The Bank saw total assets climb to $249,631,000, an increase of 6% for the quarter and 31% year over year. Growth was recognized primarily in loans and deposits. Net loans after the allowance for loan losses as of the latest quarter-end stood at $207,576,000 while deposits totaled $201,342,000. “We are pleased with the Bank’s continued growth and positive market acceptance,” said Dunphy.
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.