Penny Stock News: PROMERICA BANK Reports First Quarter 2011 Earnings

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LOS ANGELES, CA–(Marketwire – Apr 27, 2011) – PROMÉRICA BANK (OTCBB: PMRA) today reported results for its 2011 first quarter of operations. Highlights of the firstquarter ended March 31, 2011 include:

  • Three Month Net Income of $24,000 for 2011 versus a loss of $317,000 for the comparable period of 2010. This is the Bank’s second consecutive quarterly profit.
  • Total Assets at March 31, 2011 increased to $117.8 million, an increase of $15.1 million or 15% from March 31, 2010.
  • Total Loans at March 31, 2011 increased to $85.7 million, an increase of $11.9 million or 16% from March 31, 2010.
  • Total Deposits at March 31, 2011 increased to $98.7 million, an increase of $17.1 million or 21% from March 31, 2010.
  • Capital ratios in excess of all minimums required to be “Well Capitalized” by regulatory agencies, with a Tier 1 leverage ratio of 16.1% and a Total Risk-Based capital ratio of 21.2% at March 31, 2011. Regulatory “Well Capitalized” definitions are 5% for the Tier 1 leverage ratio and 10% for the Total Risk-Based capital ratio.

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.