Hilltop Community Bancorp Inc. reported earnings results for the third quarter and nine months ended September 30, 2009. The company reported net income of $255,000 for the third quarter of 2009 against $266,000 for the same period last year. This was an improvement over the linked second quarter when the Corporation incurred a small loss related to a securities impairment charge and a special FDIC assessment imposed on banks across the country. After accounting for the preferred stock dividend payable to the U.S. Treasury as part of the Capital Purchase Program, a program that was intended for only well-capitalized community banks, net income available to common shareholders was $191,000. This amounted to $0.07 per share, basic and diluted, for the third quarter of 2009. For the third quarter of 2008, prior to the issuance of the preferred shares, net income available to common shareholders was $266,000, or $0.10 per share, basic and diluted. Interest income was $2,107,000 against $2,330,000 for the same period last year. Net interest income was $1,678,000 against $1,554,000 for the same period last year. For the nine months, the company reported interest income was $6,503,000 against $7,052,000 for the same period last year. Net interest income was $4,406,000 against $4,369,000 for the same period last year. Net income was $280,000 against $660,000 for the same period last year. Net income available to common shares was $107,000, or $0.04 per diluted share against $660,000, or $0.26 per diluted share for the same period last year. Tangible book value was $6.66 as on September 30, 2009 against $6.56 as on September 30, 2008.

Hilltop Community Bancorp Inc. reported earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net loss of $53,000 or $0.05 diluted loss per share on net interest income of $1,430,000 compared to net income of $213,000 or $0.08 diluted earnings per share on net interest income of $1,470,000 for the same period a year ago. Net loss available to common shareholders was $118,000 compared to net income available to common shareholders of $213,000 for the same period a year ago. For six months, the company reported net income of $25,000 or $0.03 diluted loss per share on net interest income of $2,728,000 compared to net income of $394,000 or $0.15 diluted earnings per share on net interest income of $2,815,000 for the same period a year ago. Net loss available to common shareholders was $84,000 compared to net income available to common shareholders of $394,000 for the same period a year ago. The company recorded an other than temporary impairment charge related to three non-agency mortgage-backed securities in the Bank's investment portfolio. This impairment charge of $219,000 along with an FDIC insurance assessment of $126,000 resulted in a net loss of $53,000 at the Bancorp level for the quarter ended June 30, 2009. The impairment charge is based on an analysis of the bonds in question by an independent third party valuation firm and is based on future cash flow assumptions.

Hilltop Community Bancorp Inc. reported earnings results for the first quarter ended March 31, 2009. For the quarter, the company reported net income of $78,000 or $0.01 basic and diluted earnings per share compared to net income of $181,000 or $0.07 basic and diluted earnings per share for the same period in 2008. Net income available to common shareholders was $34,000 compared to $181,000 for the same period last year. Net interest income for the period was $1,298,000 compared to $1,345,000 for the same period last year. Interest income was $2,227,000 against $2,354,000 last year. Tangible book value- period end was $6.31 against $6.75 at March 31, 2008.