Integra Bank plunges 34% on Q2 net loss
Integra Bank Corporation (Nasdaq:IBNK) has fallen more than 34% today after announcing a second-quarter loss after Thursday’s close. For the 2008 second quarter, Integra posted a net loss of $0.89 million, or $0.04 per share, compared with net income of $8.3 million, or $0.41 per share, for the same quarter a year ago. Wall Street was expecting net income of $0.29 per share. Provision for loan losses soared to $6 million from $0.45 million a year earlier. The Evansville, Ind.-based bank said its earnings were hit hard by the slump in the economy.
In today’s trading, shares are off $3.45 at $6.68. The shares reached a 52-week low of $6.64 earlier in the trading day.
For detailed price information and recent news stories about Integra Bank Corporation, click IBNK.
