Cooperative Bankshares (COOP) Delays Earnings Report; CEO Retires
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Cooperative Bankshares (NASDAQ: COOP) announced today that it is delaying the release of its earnings report for the quarter and year-ended December 31, 2008 due to an ongoing third-party analysis of its loan portfolio and a third-party analysis of its $5.5 million goodwill asset. The Company also announced that Frederick Willetts, III has retired as President and Chief Executive Officer. Mr. Willetts will continue to serve as Chairman of the Board of Directors of the Company and the Bank.
Cooperative Bankshares, Inc. (Bankshares) is a bank holding company for Cooperative Bank (Cooperative). Cooperative provides a range of banking products, including interest-bearing and noninterest-bearing checking accounts, certificates of deposit, savings accounts, and individual retirement accounts.[SM]
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