SP Bancorp (SPBC: Quote), the share holding company of SharePlus Federal Bank, Friday revised its fourth-quarter net income to $!68,000 from the net income of $300,000 previously announced on February 7.
According to the company, the downward revision was due to an updated appraisal received by it after February 7, which reduced the carrying value of one of its real estate properties.
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by RTT Staff Writer
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