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SBA Loan Applications Are Key to Disaster Recovery Funds

Great Lakes Bancorp Announces 2007 First Quarter Results and Share ...

BUFFALO, N.Y., May 8 /PRNewswire-FirstCall/ -- Great Lakes Bancorp, Inc. (NYSE: GLK) , the bank holding company of Greater Buffalo Savings Bank, today announced its first quarter results and Board of Director authorization for the Company to repurchase up to 5% of its outstanding common stock over the next six months.

The Company reported a net loss of $593 thousand or $0.05 per share for the current quarter ended March 31, 2007, compared to a net loss of $81 thousand or $0.02 per share for the first quarter of 2006. Per share amounts reflect a significant increase in outstanding shares resulting from the merger with Bay View Capital Corporation on May 1, 2006. The 2007 results reflect increases in net interest income and noninterest income, offset by higher operating costs associated with the Bank's branch development and personnel additions to its lending, support functions and senior management team.

This Week in The Nevada Legislature

Nevada lawmakers starting the last full month of the 2007 session are anticipating a bleak revenue report Tuesday that will guide them in wrapping up work on a nearly seven-billion dollar budget for the coming two fiscal years.

The state Economic Forum's analysis of all tax revenue sources must be followed by the legislators as they complete the spending plan. With the analysis in hand, Assembly and Senate budget committees hope to start resolving their differences by the end of the week.

In advance of the forum's report on major revenues such as casino and sales taxes, an advisory panel has estimated that the state's projected take from smaller revenue sources in the upcoming budget cycle should be reduced by nearly 22-million dollars.

When legislators meet tomorrow, they'll have just five weeks to go before their scheduled adjournment on June fourth.

Loan Consolidation

SABIC to fund GE Plastics buy with bonds, loans (TODAYonline)

Sat, 02 Jun 2007 19:58:41 GMT
The General Electric logo on a sign outside their corporate headquarters in Fairfield, Connecticut. State-owned Saudi Basic Industries Corp (SABIC) said Saturday it would fund its 11.6 billion dollar purchase of General Electric's plastics division with bonds and loans.


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