City Bank Files Form 12b-25 for Additional Time Finalizing December 31, 2009 Results

City Bank (NASDAQ:CTBK) has filed a Notification of Late Filing on Form 12b-25 with the Federal Deposit Insurance Corporation to report that it was not able to timely file its Annual Report on Form 10-K for the year ended December 31, 2009. As stated in its release of March 15, 2010, the Bank was required to restate its results of operations for the quarter and fiscal year ended December 31, 2009. The Bank expects to file the Form 10-K on or before the fifteenth calendar day following the original March 31, 2010 due date.

Forward-Looking Statements

The discussion may contain certain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those stated, including, but not limited to, the Bank’s inability to generate increased earning assets, sustain credit losses, maintain adequate net interest margin, control fluctuations in operating results, maintain liquidity to fund assets, retain key personnel, and other risks detailed from time to time in the Bank’s filings with the Federal Deposit Insurance Corporation, including our Annual Report on Form 10-K for the period ended December 31, 2008. Readers are cautioned not to place undue reliance on these forward-looking statements.

City Bank is a state-chartered commercial bank founded in 1974 and headquartered in Lynnwood, Washington. The Bank is publicly traded (NASDAQ: CTBK) and many of the stockholders are local individuals. Eight banking offices serve both Snohomish and North King counties. Three mortgage loan offices serve Snohomish, King, Pierce and Clark counties. City Bank provides a wide range of banking services for business and individuals, including loans for residential construction, land development, mortgage, commercial, Small Business Administration, consumer, and all types of deposits as well as other general banking services.

City Bank (MM) (NASDAQ:CTBK)
Historical Stock Chart
From Oct 2024 to Nov 2024