Friday, October 23, 2009

Citizens Bank: It Could Be Worse

Reuters reports that Flint's Citizens Bank is still losing money, but less than expected:
"Loss-making Midwestern bank Citizens Republic Bancorp Inc (CRBC.O) posted a narrower-than-expected quarterly loss, despite a spike in loan loss provisions and expenses.

"Third-quarter net loss was $62.1 million, or 48 cents a share, compared with a net loss of $18.9 million, or 20 cents a share, last year."

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Thanks for commenting. You might enjoy my book about Flint called "Teardown: Memoir of a Vanishing City," a Michigan Notable Book for 2014 and a finalist for the 33rd Annual Northern California Book Award for Creative NonFiction. Filmmaker Michael Moore described Teardown as "a brilliant chronicle of the Mad Maxization of a once-great American city." More information about Teardown is available at www.teardownbook.com.