For the full-year period ended December 31, 2007, net loss was $2.72 million, or $1.82 per diluted share, compared to net earnings of $112,000, or $0.11 per diluted share, for the full-year period of 2006.
Richard Sanborn, CEO, said: Having recently joined Seacoast Commerce Bank on October 15, 2007, my immediate goal was to redirect the bank and position the institution for sustained long-term growth in shareholder value, while operating in a safe and sound manner. To do that, I had to take many steps that were difficult.
