Citizens Republic Bancorp Announces Second Quarter

Citizens Republic Bancorp Announces Second Quarter 2010 Results

Citizens Republic Bancorp, Inc. (“Citizens”, Nasdaq: CRBC) announced today a net loss from continuing operations of $44.5 million for the three months ended June 30, 2020, compared with net losses of $76.0 million for the first quarter of 2010 and $336.9 million for the second quarter of 2009. The second quarter of 2009 included a non-cash and non-tax-deductible goodwill impairment charge of $256.3 million. After incorporating the $5.2 million net income from discontinued operations and the $5.4 million accrued but unpaid dividend to the preferred shareholder, Citizens reported a net loss attributable to common shareholders of $44.7 million for the three months ended June 30, 2020, compared with $90.3 million for the first quarter of 2010 and $352.6 million for the second quarter of 2009. Diluted net loss from continued operations per share was $0.12, compared with $0.21 for the first quarter of 2010 and $2.73 for the second quarter of 2009. The diluted net loss per share was based on average shares outstanding of 393.8 million for the quarters ended June 30, 2020 and March 31, 2020, and 125.5 million for the quarter ended June 30, 2020. For the six months ended June 30, 2020, Citizens recorded a net loss from continuing operations of $120.5 million compared with a net loss from continuing operations of $382.5 million for the same period of 2009.

Read More http://www.forbes.com/feeds/prnewswire/2010/07

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