solera national bancorp inc (SLRK) Snapshot

On June 3, 2013, Solera National Bancorp, Inc. increased its authorized capitalization from five million shares of common stock, $0.01 par value, to ten million shares of common stock pursuant to a certificate of amendment to the certificate of incorporation of the company. The amendment was approved by the company's shareholders at the annual meeting of shareholders of the company held on May 22, 2013. The amendment also provides that the company may issue shares of its common stock from time to time for such consideration (not less than the par value thereof) as may be fixed by its board of directors, which is expressly authorized to fix the same in its absolute and uncontrolled discretion.

Solera National Bancorp, Inc. announced that Lisa Dowis has joined the bank's management team as Vice President of Marketing. Dowis will be heading up corporate marketing and will initially be heavily focused on marketing the bank's residential mortgage division. Most recently, Dowis was the Marketing Manager of The Bank at Broadmoor in Colorado Springs, Colorado.

Solera National Bancorp, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. The company’s reported earnings increased 60% to $181,000 or $0.07 per share for the first quarter of 2013, compared to $113,000 or $0.04 per share, for the fourth quarter of 2012 and loss of $39,000 or $0.02 loss per share for the first quarter 2013. First quarter profits were driven by increased loan demand and solid credit quality. Total revenue increased to $2.7 million in the first quarter of 2013, up from $1.1 million in the first quarter of 2012. Tangible book value, excluding unrealized gains on securities, improved to $7.48 per share up from $7.25 per share a year earlier. Net interest income increased 5% to $1.1 million, compared to $1.0 million in the fourth quarter of 2012 and was up 8% from $969,000 in the first quarter a year ago.