EXHIBIT 99.1



1400 N. 15th Street
Immokalee, FL 34142
Ph: ###-##-####
Fax: 239-657-2393

PRESS RELEASE
SUBJECT: Florida Community Banks, Inc. 2007 Earnings
DATE: March 12, 2008


Florida Community Banks, Inc.
2007 Earnings

Florida Community Banks, Inc. reported a net loss for the fourth quarter 2007 of $1,584,088 (-$0.19 per diluted share) compared to net income of $6,858,930 ($0.87 per diluted share) last year. Net income for the year ending December 31, 2007 was $10,909,219 ($1.36 per diluted share) compared to $23,146,069 ($2.90 per diluted share) during 2006.
CFO Guy W. Harris said that these numbers were $3,216,007 lower than what was originally reported when the Company filed its FR-Y9 report’s with the Federal Reserve back in early February. He said, “Subsequent events became known that resulted in the bank reversing approximately $400,000 in interest income and adding an additional $4,811,000 to its allowance for loan losses”.
CEO Stephen L. Price stated, “As the economy weakened and the housing market in Southwest Florida experienced a significant restructure, the banking industry as a whole felt the impact. Credit quality problems exacerbated by the backlog in court proceedings delaying resolutions and an increased willingness of borrowers to file bankruptcy instead of working out their problems are just a few of the obstacles that we had to contend with in 2007.” Price further stated “We are confident, however that we will rebound and see an improvement in results going forward.  We have been operating in Southwest Florida for the past 85 years, and in that time we have seen our share of recessions, operated through the depression and other challenging economic events and have consistently emerged strong, healthy and profitable”. Florida Community Bank has consistently been one of the highest performing banks in Florida.  While compared to our own performance we have had a decline in profits, comparing Florida Community Bank to our peers we still have very strong earnings with a Return on Average Assets of 1.11% and a Return on Average Equity of 11.09%.

Florida Community Banks, Inc. is a $943 million commercial bank holding company, which specializes in commercial lending and has been serving SW Florida for 85 years, with offices in Hendry, Collier, Lee, and Charlotte counties.  The Company’s 7,909,261 shares of outstanding stock are owned by more than 1,100 shareholders predominantly residing in the four counties served by the company.  Florida Community Banks, Inc. corporate headquarters is located in Immokalee, Florida.

 
 

 












The following information was filed by Florida Community Banks Inc on Wednesday, March 12, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Florida Community Banks Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Florida Community Banks Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account