City Bank Files Form 12b-25 for Additional Time Finalizing December 31, 2009 Results
March 31 2010 - 5:55PM
Business Wire
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.
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