Bank of Florida Corporation Announces Amended
First Quarter 2010 Results
May 18, 2010 08:03 AM Eastern Daylight Time
NAPLES, Fla.--(EON: Enhanced Online News)--Bank of Florida Corporation (NASDAQ: BOFL) announced
amended financial results for the first quarter of 2010. The net loss available to common shareholders for the first
quarter of 2010 was $48.2 million or $3.76 per diluted share. The company previously reported on May 3, 2010 a
net loss of $33.1 million or $2.66 per diluted share for the first quarter of 2010.
These results compare to a net loss of $58.7 million, or $4.58 per share in the fourth quarter of 2009, and $4.4
million or $0.34 per diluted share, in the first quarter of 2009.
“Subsequent to March 31, 2010, we determined additional impairments on several loans in our non-performing
portfolio. These increased impairments have now been reflected in our first quarter financial statements,” said Chief
Executive Officer Michael L. McMullan. “This change does not impact our targeted capital raise as the impact is
related to the timing of taking these impairments and not the level of impairments taken.”
Bank of Florida Corporation
Bank of Florida Corporation. (Nasdaq: BOFL) is a $1.5 billion-asset multi-bank holding Company located in
Naples, Florida. Bank of Florida Corporation is the parent company for Bank of Florida - Southwest in Collier and
Lee Counties; Bank of Florida – Southeast in Broward, Miami-Dade and Palm Beach Counties; Bank of Florida –
Tampa Bay in Hillsborough and Pinellas Counties; and Bank of Florida Trust Company, collectively referred to as
the “Company”. Investor information may be found on the Company’s web site, http://www.bankofflorida.com, by
clicking on "Investor Relations." To receive an email alert of all company press releases, SEC filings, and events,
select the “Email Notification” section.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements in
this press release may contain “forward-loo