TIB Financial Corp. expected to Report Q1 2010 Results on May 3, 2010. This event was calculated by Capital IQ (Created on March 10, 2010).

TIB Financial Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2009. For the quarter, the company's net loss excluding investment securities gains and losses, goodwill impairment charge and deferred tax asset valuation allowance was $10.9 million compared to $10.6 million on a comparable basis for the fourth quarter of 2008. Net interest income was $11.2 million compared to $10.72 million a year ago. Loss before income taxes was $21.1 million compared to $21.3 million a year ago. The net loss before dividends and discount accretion on preferred stock of $45.1 million was primarily due to the net provision for income taxes of $24.0 million, the provision for loan losses of $16.4 million and a goodwill impairment charge of $5.9 million and compared to net losses of $8.1 million for the third quarter of 2009 and $13.3 million for the fourth quarter of 2008. The net loss allocated to common shareholders was $45.8 million or $3.08 per share, for the current quarter, compared to a net loss of $0.59 per share for the third quarter of 2009 and compared to a net loss of $13.4 million or $0.91 for the comparable 2008 quarter. For the year to date, the companys net interest income was $45.4 million compared to $44.7 million a year ago. Loss before income taxes was $48.1 million compared to $33.8 million a year ago. Net loss was $61.5 million or $4.33 per common share, and reflects a $42.3 million provision for loan losses, a provision for income taxes of $13.5 million and a goodwill impairment charge of $5.9 million, compared to net loss of $20.93 million a year ago. Net loss excluding investment securities gains and losses, goodwill impairment charge and deferred tax asset valuation allowance was $29.63 million compared to $17.6 million a year ago. The company reported goodwill impairment charge of $5.9 million for the fourth quarter of 2009. The goodwill impairment charge was due to the decrease in the implied value of the goodwill of TIB Bank as determined by the annual impairment test required by GAAP and reflected the recent further decline in the market value of the company's common stock.

TIB Financial Corp. announced that it has received an advisory letter from The NASDAQ Stock Market indicating that based upon the closing bid price for the Company's common stock for the last 30 consecutive business days, the Company no longer meets the $1.00 minimum bid price requirement of listing rule 5450(a)(1) for continued listing and has a grace period of 180 calendar days to regain compliance (provided by rule 5810(c)(3)(A)). The Company's common stock will continue to trade on the NASDAQ Global Select market throughout the grace period. To regain compliance, the Company must achieve a minimum closing bid price for its common stock above $1.00 for a minimum of 10 consecutive business days prior to the July 6, 2010 expiration of the grace period. Alternatively, the Company may be eligible for an additional grace period if it meets the initial listing standards, with the exception of bid price, for The NASDAQ Capital Market. Thomas J. Longe, Vice Chairman, Chief Executive Officer and President of the company stated: "While we are disappointed in the current market price of our stock, we believe the market will acknowledge the progress we are making and look forward to regaining compliance within the grace period."

TIB Financial Corp. Reports Fourth Quarter and Annual Results

TIB Financial loss swells as Bank of Venice deal loses luster

TIB FINANCIAL CORP. Files SEC form 8-K, Results of Operations and Financial Condition

TIB Financial Corp. Reports Fourth Quarter and Annual Results

TIB FINANCIAL CORP. Files SEC form 10-Q, Quarterly Report

TIB Financial Corp. Reports Third Quarter Results

TIB Financial Corp. Receives Nasdaq Minimum Bid Price Noncompliance Notice

TIB FINANCIAL CORP. Files SEC form 8-K, Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standar

TIB Financial Corp. Receives Nasdaq Minimum Bid Price Noncompliance Notice

TIB FINANCIAL CORP. Files SEC form 8-K, Other Events

TIB calls off public offering, plans for efforts after holidays

TIB FINANCIAL CORP. Files SEC form 8-K, Other Events

TIB Financial defers interest on securities

TIB Bank, Bank of Venice complete merger

TIB FINANCIAL CORP. Files SEC form 8-K, Other Events

TIB Financial Corp. Announces Results of the Special Meeting of Shareholders And Corporate Reorganization

TIB Financial Corp. Reports Third Quarter Results

TIB FINANCIAL CORP. Files SEC form 8-K, Results of Operations and Financial Condition

TIB FINANCIAL CORP. Files SEC form 10-Q, Quarterly Report

TIB Financial 3Q loss swells on increased provision