Penny Stock News: Town and Country Financial Corporation Reports Improved First Quarter 2011 Net …

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SPRINGFIELD, Ill., April 29, 2011 /PRNewswire/ — Town and Country Financial Corporation (OTCBB: TWCF) reported first-quarter 2011 net income of $607 thousand, or $0.22 per share, compared with $316 thousand, or $0.11 per share in the first quarter of 2010.  Current quarter results included after tax impacts of $88 thousand ($0.03 per share) from the gain on the sale of equity securities and a $148 thousand ($0.05 per share) benefit from an adjustment to mortgage servicing rights from extension in the estimated lives of the underlying loans.  The quarter also included a charge of $123 thousand ($0.04 per share) for various foreclosed real estate matters.  The first quarter of 2010 included an after tax impairment charge of $89 thousand ($0.03 per share) on certain trust preferred securities.

The Company’s results reflected a sound net interest margin, 3.72% compared to 3.47% in the first quarter of 2010, the change primarily due to maturing and repricing term deposits and wholesale funding.  Net revenue was $4.4 million and up from $3.9 million due to the strong interest spread, the adjustment to mortgage servicing rights in 2011, and the absence of impairment charges recorded in 2010.  Non-interest expense was $3.5 million and $193 thousand higher than the year ago quarter primarily due to the expenses related to foreclosed real estate matters.

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.prnewswire.com/news-releases/town-and-country-financial-corporation-reports-improved-first-quarter-2011-net-income-and-declares-quarterly-dividend-120993344.html