Tower Financial Corporation unaudited consolidated reported earnings results for third quarter and nine months ended September 30, 2009. For the quarter, the company reported net loss of $720,575 or $0.18 loss per diluted share on total interest income of $8,028,969 compared to net income of $329,601 or $0.08 per diluted share on total interest income of $9,318,841 for the same period a year ago. The main causes of the quarterly loss were significant deterioration of collateral on four credits already identified as non-performing in previous quarters. Non cash other-than-temporary impairment (OTTI) charge on an available for sale security. Letter of credit claim on a borrower who was previously liquidated. For nine months period the company reported net loss of $4,405,830 or $1.08 loss per diluted share on total interest income of $24,070,312 compared to net income of $1,383,480 or $0.34 per diluted share on total interest income of $28,906,501 for the same period a year ago.

Tower Financial Corporation expected to Report Fiscal Year 2009 Results on January 18, 2010. This event was calculated by Capital IQ (Created on October 30, 2009).

Tower Financial Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the year, the company reported loss of $4,095,480 or $1.00 per diluted share compared with net income of $342,707 or $0.08 per diluted share reported for the second quarter 2008. Total interest income was $8,126,544 compared to $9,309,361 for the same period last year. The company reported net interest income was $4,822,017 compared to $5,294,630 for the same period last year. Net interest loss after provision for loan losses was $1,727,983 compared to net income after provision for loan losses of $4,419,630 for the same period last year. Negative return on average assets was 2.32% compared to Positive return on average assets of 0.20% for the same period last year. Negative return on average common equity was 32.65% compared to Positive return on average common equity of 2.79% for the same period last year. Loss before income taxes was $6,586,916 against income of $267,674 for the same period of last year. Book value per share was $11.24 against $11.92 for the same period of last year. For the six months, the company reported net loss to $3,685,255 or $0.90 diluted per share compared to net income of $1,210,039 or $0.26 diluted per share at June 30, 2008. Total interest income was $16,041,343 compared to $19,587,660 for the same period last year. The company reported net interest income was $9,363,444 compared to $10,375,005 for the same period last year. Net interest income after provision for loan losses was $1,853,444 compared to $9,200,005 for the same period last year. Return on average assets was 1.07% compared to 0.41% for the same period last year. Return on average common equity was 14.88% compared to 5.91% for the same period last year. Loss before income taxes was $6,209,457against income of $1,210,039 for the same period of last year. Book value per share was $12.29 against $12.18 for the same period of last year. The company announced impairment on AFS securities of $47,656 for the second quarter of fiscal 2009.