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VSB Bancorp: VSB Bancorp, Inc. Fourth Quarter 2007 Results of Operations
STATEN ISLAND, NY (MARKET WIRE) VSB Bancorp, Inc. (NASDAQ: VSBN) reported net income of $453,155 for the fourth quarter of 2007, a $270,628, or 37.4%, decrease from net income of $723,783 in the fourth quarter of 2006. The following unaudited figures were released today. Pre-tax income was $848,669 in the fourth quarter of 2007, as compared to $1,354,833 for the fourth quarter of 2006, a decrease of $506,164, or 37.4%. Basic net income per common share was $0.25, as compared to basic net income per common share of $0.40 for the quarter ended December 31, 2006. Three unusual items represented $111,400 of the difference in