Hey all:

2 big announcements were made today.

An agreement was reached with Fiserv. Fiserv has dropped their lawsuit vs. RBNF. This is a good announcement. This may have been one of the big hurdles to clear before spinning off the data processing/software subsidiary.

The other announcement was earnings of .20/share vs. .28 year ago. This was a bit disappointing to me. $300k of this could not be helped, as the FDIC made a "special" assessment, and RBNF had to pay up $300k. This charge alone equates to about .06/share.

The bad part of the earnings is that the provision for bad loans almost tripled. The 300% rise was off of a low base though.

If bad loans stay at current levels, or even go up slightly, RBNF will do OK. Of course, there are rumors floating around that the FDIC will make another assessment at the end of the year.

Time will tell.

Roberto