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MCCALL, IDAHO–(Marketwire – Apr 27, 2011)
Today Idaho First Bank (OTCQB: IDFB) reported financial results for the first quarter of 2011. The Bank reported a loss of $143,000 for the first quarter of 2011 compared to a loss of $509,000 in
the first quarter of 2010 and a loss of $391,000 in the last quarter of 2010. The quarterly loss was the smallest loss in the Bank’s history.
Mark Miller, Chairman of the Board, commented, “We have seen significant
improvement in the trends and performance of the Bank.” He further said,
“We have worked closely to reduce costs, including compensation and
incentive packages, increased oversight, and realigned Committee Charters
to help increase shareholder value and to meet our long-term profit
The net loss for the first quarter of 2011 was $366,000 less than the loss
in the same quarter of 2010. This large improvement was primarily caused
by three favorable items; the provision for loan losses dropped from
$250,000 to $85,000, mortgage banking income increased from $68,000 to
$202,000; and noninterest expenses dropped by $117,000.
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.