COBZ CoBiz Financial Inc. featured news, full reports, and detailed charts
CoBiz Financial Inc. (COBZ) Wrap Up:
CoBiz Financial Inc. (“CoBiz” or the “Company”) is a diversified financial holding company headquartered in Denver, Colorado. Through our subsidiary companies, we combine elements of personalized service found in community banks with sophisticated financial products and services traditionally offered by larger regional banks that we market to our targeted customer base of professionals, high-net-worth individuals and small to mid-sized businesses. At December 31, 2007, we had total assets of $2.4 billion, net loans of $1.8 billion and deposits of $1.7 billion. We were incorporated in Colorado on February 19, 1980, as Equitable Bancorporation, Inc. Prior to its initial public offering in June 1998, the Company was acquired by a group of private investors in September 1994 who are still current shareholders. Our wholly owned subsidiary CoBiz Bank (the “Bank”) is a full-service business banking institution serving two markets, Colorado and Arizona. ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f17%2f0001104659-08-017906.html#FIS_BUSINESS"www.cobizbank.com
535 Employees
Founded in 1980
CoBiz Financial Inc (COBZ:NASDAQ)
LAST $4.42 USD
CHANGE TODAY +0.25 6.00%
VOLUME 190.3K
As of 4:00 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of CoBiz Financial Inc (COBZ)
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OPEN
$4.41
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PREVIOUS CLOSE
$4.17
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DAY HIGH
$4.59
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DAY LOW
$4.32
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52 WEEK HIGH
11/28/08 - $11.05
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52 WEEK LOW
03/10/09 - $4.00
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MARKET CAP
162.2M
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AVERAGE VOLUME 3 mo
181.9K
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DILUTED EPS TTM
$-3.67
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SHARES OUTSTANDING
36.7M
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EX-DATE
10/29/09
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P/E TTM
NM
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DIVIDEND
$0.04
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DIVIDEND YIELD
0.90%
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related news
COBZ: Upgraded - JAGNote by Stifel Nicolaus
JAG Media - 11/20/2009 8:39 AM ET
COBZ Top Compensated Officers
Mr. Steven Bangert
Chairman, Chief Executive Officer, Member of ...
Age: 52
Total Annual Compensation: $522.5K
Ms. Lyne B. Andrich
Chief Financial Officer, Executive Vice Presi...
Age: 42
Total Annual Compensation: $275.0K
Mr. Richard Joseph Dalton
Chief Operations Officer and Executive Vice P...
Age: 52
Total Annual Compensation: $275.0K
Mr. Jonathan Charles Lorenz
Chief Executive Officer of Colorado Business ...
Age: 57
Total Annual Compensation: $380.0K
Mr. Robert B. Ostertag
Chief Credit Officer and Executive Vice Presi...
Age: 48
Total Annual Compensation: $215.0K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for CoBiz Financial Inc (COBZ)
CoBiz Financial Inc expected to Report Fiscal Year 2009 Results on February 8, 2010. This event was calculated by Capital IQ (Created on October 23, 2009).
10/23/2009
CoBiz Financial Inc expected to Report Fiscal Year 2009 Results on February 8, 2010. This event was calculated by Capital IQ (Created on October 23, 2009).
CoBiz Financial Inc. Declares Cash Dividend for the Third Quarter of 2009, Payable on Nov. 9, 2009
10/22/2009
CoBiz Financial Inc. declared a $0.01 cash dividend on its common stock for the third quarter of 2009. This dividend will be paid on Nov. 9, 2009, to shareholders of record on Nov. 2, 2009.
CoBiz Financial Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009 ; Announces Impairment Charges
10/22/2009
CoBiz Financial Inc. reported unaudited earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net loss available to common shareholders of $15.7 million or $0.50 per diluted share on net interest income after provision of $5.3 million compared to net profit available to common shareholders of $4.2 million or $0.18 per diluted share on net interest income after provision of $18.9 million for the same quarter a year ago. Net interest income before provision was $25.6 million compared to $24.2 million for the same quarter a year ago. Loss before income tax was $23.7 million compared to income before income tax of $6.6 million for the same quarter a year ago. Negative return on average assets was 2.48% and negative return on average shareholders equity of 25.11% compared to return on average assets of 0.65% and return on average shareholders equity of 8.49% for the same quarter a year ago. For the nine months, the company reported net loss available to common shareholders of $81.3 million or $3.05 per diluted share on net interest loss after provision of $10.9 million compared to net income available to common shareholders of $9.9 million or $0.43 per diluted share on net interest income after provision of $53.4 million for the same period a year ago. Net interest income before provision was $78.4 million compared to $69.7 million for the same period a year ago. Loss before income tax was $107.3 million compared to income before income tax of $16 million for the same period a year ago. Negative return on average assets was 4.06% and negative return on average shareholders equity of 44.4% compared to return on average assets of 0.54% and return on average shareholders equity of 6.81% for the same period a year ago. Book value per common share was $4.70 as on September 30, 2009 compared to $8.33 as on September 30, 2008. For the third quarter ended September 30, 2009, the company has recorded $12.5 million in goodwill impairment charges.
COBZ Competitors
| Company | Last | Change | |
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| Market data is delayed at least 20 minutes. | |||
Industry Analysis
| Valuation | COBZ | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 9.6x |
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| Price/Book | 0.7x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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COBZ |
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COBZ transactions
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| No transactions in the last 6 months. | ||
More Recent News About CoBiz Financial Inc.
More news for COBZ
CoBiz Financial Invites You to Join Its Third Quarter 2009 Conference Call
Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....Click here to read the whole Article (external link)
Q3 2009 CoBiz Inc. Earnings Release - After Market Close
Earnings Announcements for Thursday, October 22CompanySymbolTimeConferenceCall1-800-FLOWERS.COMFLWSBefore Market Open1st SourceSRCEAfter Market Close3M CompanyMMMBefore Market OpenAcacia Research CorporationACTGAfter Market CloseListenAffiliated Computer ServicesACSAfter Market CloseAkeena SolarAKNSBefore Market OpenAker SolutionsAKSO.OL02:00 am ETAlaska Air Group, Inc.ALKBefore Market OpenListenAlexion PharmaceuticalsALXNBefore Market OpenAlign TechnologyALGN4:00 pm ETAmadeus Fire AGAAD.FTime Not SuppliedAmazon.com, Inc.AMZNAfter Market CloseListenAmerican Express CompanyAXPAfter Market CloseListenAmerican River BanksharesAMRBTime Not SuppliedAmSurgAMSG4:00 pm ETListenAssociated Banc-CorpASBC1:00 pm ETAT&TTBefore Market Open...Click here to read the whole Article (external link)
[video] Take Your Position: Bank Earnings
All CNBC | News | Video...Click here to read the whole Article (external link)
CoBiz Financial Reports Third Quarter 2009 Results
DENVER, Oct. 22 /PRNewswire-FirstCall/ -- CoBiz Financial Inc. (Nasdaq: COBZ - News), a financial services company with $2.5 billion in assets, announced a net loss of $6.7 million for the third quarter of 2009 from core operations, excluding a pre-tax goodwill impairment of $12.5 million (see the accompanying reconciliation of Non-GAAP Measures to GAAP). The net loss available to common shareholders from core operations was $0.23 per diluted common share, excluding noncash charges from goodwill impairment of $0.27 per diluted share (see the accompanying reconciliation of Non-GAAP Measures to GAAP). Including these charges, the third quarter net loss applicable to common shareholders was $16.7 million, or $0.50 per diluted share. Financial Performance - Third Quarter 2009"We were very pleased to have successfully completed our equity offering during such a difficult environment for the industry, meaningfully increasing our tangible common equity levels," said Chairman and CEO Steve Bangert. "The new equity, combined with some recent key hires, will enable us to continue building our franchise during these challenging times."While problem asset levels remain elevated, I was encouraged by the significant decrease in credit costs from the prior quarter," said Bangert. "Although we are seeing some evidence that asset quality is starting to stabilize, we felt it prudent to continue building a strong Allowance coverage. Our current Allowance of 4.35% is one of the highest in the industry and remains over 100% of...Click here to read the whole Article (external link)
CoBiz Financial swings to Q3 loss amid loan issues
CoBiz Financial Inc. lost $16.7 million, or 50 cents per share, in the third quarter, amid continuing problems with bad loans, the bank holding company said late Thursday. The loss at Denver-based CoBiz compared with a profit of nearly $4.2 million, or 18 cents per share, in the same quarter a year earlier. CoBiz (NASDAQ: COBZ) is the parent company of Colorado Business Bank and Arizona Business Bank. "While problem asset levels remain elevated, I was encouraged by the significant decrease in credit costs from the prior quarter," CEO Steve Bangert said in a statement. "Although we are seeing some evidence that asset quality is starting to stabilize, we felt it prudent to continue building a strong allowance coverage," Bangert said. "Our current allowance of 4.35 percent is one of the highest in the industry and remains over 100 percent of our nonperforming loans." During the third quarter, CoBiz eliminated all goodwill from its balance sheet, recognizing a $12.5 million goodwill impairment charge. So far this year, the company has recorded $46.2 million in goodwill impairment. The charge has no impact on the bank's liquidity, tangible or regulatory capital, officials said. CoBiz raised nearly $56 million through a stock offering during the third quarter, after expenses. As of Sept. 30, the company's Tier 1 capital ratio was 13.95 percent, well above levels commonly considered as "well capitalized," officials said. Nonperforming assets ended the quarter at $98.2 million...Click here to read the whole Article (external link)
CoBiz Financial Announces $0.01 Dividend
Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....Click here to read the whole Article (external link)
COBIZ FINANCIAL INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations This discussion should be read in conjunction with our condensed consolidated financial statements and notes thereto included in this Form 10-Q. Certain terms used in this discussion are defined in the notes to these financial statements. For a description of our accounting policies, see Note 1 of the Notes to Consolidated Financial Statements included in our Form 10-K for the year ended December 31, 2008. For a discussion of the segments included in our principal activities, see Note 11 to the Notes to Condensed Consolidated Financial Statements. Executive Summary The Company is a financial holding company that offers a broad array of financial service products to its target market of professionals, small and medium-sized businesses, and high-net-worth individuals. Our operating segments include: commercial banking, investment banking, investment advisory and trust and insurance. Earnings are derived primarily from our net interest income, which is interest income less interest expense, and our noninterest income earned from fee-based business lines and banking service fees, offset by noninterest expense. As the majority of our assets are interest-earning and our liabilities are interest-bearing, changes in interest rates impact our net interest margin, the largest component of our operating revenue (which is defined as net interest income plus noninterest income). We manage our interest-earning assets and interest-bearing liabilities to reduce the impact of interest rate changes on our operating results. We also have focused on reducing our dependency on our net interest margin by increasing our noninterest income. Our Company has focused on developing an organization with personnel, management systems and products that will allow us to compete effectively and position us for growth. The cost of this process relative to our size has been high. In addition, we h...Click here to read the whole Article (external link)
COBIZ FINANCIAL INC Files SEC form 8-K, Regulation FD Disclosure
Show all filings for COBIZ FINANCIAL INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for COBIZ FINANCIAL INC 17-Nov-2009Regulation FD Disclosure Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended...Click here to read the whole Article (external link)
COBIZ FINANCIAL INC Financials
Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...Click here to read the whole Article (external link)
Bank Balance Sheets Falter
Third-quarter profits in the banking sector have turned to losses—no surprise, but net earnings don't tell the whole story. The more important (and troubling) figures for investors concerned with the solvency of U.S. banks are how many loans are going bad and how little the collateral on those loans is worth today. America's banks have a value problem. Just as the tide of home mortgage defaults seemed to ebb, a new wave of foreclosures is inundating lenders' precarious balance sheets. This time the trouble is coming from commercial loans--mortgages on offices and stores, and construction loans to builders. Financial stocks bears have been predicting this implosion for some time now. (See "John Jacquemin's Bear Raid").A rise in commercial loan defaults is particularly troubling because they make up the bulk of many smaller banks' portfolios, says Joe Morford, an analyst at RBC Capital Markets who reviewed the third-quarter financial performance of a range of banks. Many of those banks managed to stave off catastrophe from their residential loans by raising money from investors earlier this year. A second hit from their commercial portfolio could burn through that fresh capital.Nonperforming assets, essentially loans that the borrower can no longer repay, rose 20% between June and September, after climbing 28% in the second quarter, says Morford. On average, within these banks' loan portfolios more than one dollar in 20 is in trouble, an alarming ratio for an industry that often contributes just a dollar in capital for every nine dollars in assets and sometimes a lot less. Banks that have opted to know what their collateral is worth are getting hurt the most, at least in accounting terms. "In some cases, it appears this deterioration has been directly attributable to managements' willingness to get updated appraisals," Morford says. He calls th...Click here to read the whole Article (external link)
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