Wilmington, NC—Cooperative Bankshares, Inc. (NASDAQ: “COOP”)
reported net income for the quarter ended June 30, 2002, of
$1,131,162 or $0.40 per diluted share, a 61% increase over the same
quarter last year. Net income for the quarter ended June 30, 2001,
was $702,904 or $0.25 per diluted share.
Income for the six months ended June 30, 2002, was $2,419,664 or
$0.85 per diluted share, an 89% increase over the same period last
year. Income for the six months ended June 30, 2001, was $1,277,256
or $0.45 per diluted share.
Total assets at June 30, 2002, were $479.4 million; stockholders’
equity was $35.8 million or $12.62 per share and represented 7.46%
of assets.
Cooperative Bankshares,
Inc. (NASDAQ: “COOP”) is the parent company of Cooperative Bank.
Chartered in 1898, Cooperative provides a full range of financial
services through 17 financial centers in Eastern North Carolina.
