Emclaire Financial Corp (NASDAQ:EMCF) Files An 8-K Material ImpairmentsItem 2.06. Material Impairments.
Emclaire Financial Corp (NASDAQ:EMCF) Files An 8-K Material Impairments
On May 1, 2017, Emclaire Financial Corp (the “Company”) concluded that a $508,000 investment in subordinated debt issued by First NBC Bank Holding Company was other-than-temporarily impaired. On April 28, 2017, the Louisiana Office of Financial Institutions shut down First NBC Bank, the wholly owned banking subsidiary of First NBC Bank Holding Company, and named the FDIC as receiver for the bank.
The Company expects to record a pre-tax impairment charge on this investment in an amount up to $508,000 during the second quarter of 2017.
About Emclaire Financial Corp (NASDAQ:EMCF)
Emclaire Financial Corp is a financial holding company. The Company provides a range of retail and commercial financial products and services to customers in western Pennsylvania through its subsidiary bank, The Farmers National Bank of Emlenton (the Bank). The Company also provides real estate settlement services through its subsidiary, Emclaire Settlement Services, LLC (the Title Company). The Bank’s primary business consists of attracting deposits from the public and investing the funds in real estate loans secured by liens on residential and commercial property, consumer loans, commercial business loans, marketable securities and interest-earning deposits. It offers a range of deposit account products to both consumer and commercial deposit customers, including time deposits, noninterest bearing and interest bearing demand deposit accounts, savings deposits and money market accounts. The Bank operates through a network of approximately 10 retail branch offices. Emclaire Financial Corp (NASDAQ:EMCF) Recent Trading Information
Emclaire Financial Corp (NASDAQ:EMCF) closed its last trading session down -0.09 at 29.47 with 130 shares trading hands.
Emclaire Financial Corp is a financial holding company. The Company provides a range of retail and commercial financial products and services to customers in western Pennsylvania through its subsidiary bank, The Farmers National Bank of Emlenton (the Bank). The Company also provides real estate settlement services through its subsidiary, Emclaire Settlement Services, LLC (the Title Company). The Bank’s primary business consists of attracting deposits from the public and investing the funds in real estate loans secured by liens on residential and commercial property, consumer loans, commercial business loans, marketable securities and interest-earning deposits. It offers a range of deposit account products to both consumer and commercial deposit customers, including time deposits, noninterest bearing and interest bearing demand deposit accounts, savings deposits and money market accounts. The Bank operates through a network of approximately 10 retail branch offices. Emclaire Financial Corp (NASDAQ:EMCF) Recent Trading Information
Emclaire Financial Corp (NASDAQ:EMCF) closed its last trading session down -0.09 at 29.47 with 130 shares trading hands.