Listed in Penny Stocks, Stock Picks, StockGuru.com, Day Trading, Best Stocks

BERLIN, NH–(Marketwire – Apr 28, 2011) – Northway Financial, Inc. (the “Company”)
(OTCBB: NWYF) reported net income for the first quarter ended March 31,
2011 of $1,005,000 compared to net income of $276,000 for the quarter ended
March 31, 2010, an increase of $729,000.

Financial Highlights

--  Net income available to common stockholders was $844,000, or $0.32 per
    common share, for the quarter ended March 31, 2011, compared to
    $115,000, or $0.04 per common share, for the quarter ended
    March 31, 2010, an increase of $729,000.

--  The Company's returns on average assets and average equity for the
    quarter March 31, 2011 were 0.48% and 7.19%, respectively, compared to
    0.14% and 2.13% for the same period last year.

--  Total assets increased $49,014,000, or 6.3%, to $831,026,000 at
    March 31, 2011 from $782,012,000 at March 31, 2010.

--  As a result of our strategy to reduce our exposure to long-term
    fixed-rate loans secured by real estate, net loan balances decreased
    $76,114,000, or 13.2%, to $499,633,000 at March 31, 2011 from
    $575,747,000 at March 31, 2010.

--  The cash flow generated from the implementation of the strategy
    described above was invested in securities available-for-sale which
    increased $94,255,000, or 70.4%, to $228,095,000 at March 31, 2011 from
    $133,840,000 at March 31, 2010.

--  Borrowings increased $22,967,000, or 27.5%, to $106,587,000 at
    March 31, 2011 from $83,620,000 at March 31, 2010 due to an increase in
    FHLB advances in order to fund a leverage strategy.

--  Deposits increased $15,296,000, or 2.5%, to $632,363,000 at March 31,
    2011 from $617,067,000 at March 31, 2010.

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.






Article source: http://www.marketwire.com/press-release/northway-financial-inc-announces-first-quarter-results-otcbb-nwyf-1507529.htm