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Suffolk Bancorp Earnings Advance on Proceeds of VISA, Inc. Initial Public Offering.

Publication: Business Wire
Publication Date: 08-APR-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
RIVERHEAD, N.Y. -- Suffolk Bancorp (NASDAQ - SUBK) today released the results of its operations during the first quarter of 2008. Earnings-per-share were $0.79, an increase of 54.9 percent from $0.51 during the comparable period of 2007. Net income was $7,559,000, up 46.8 percent from the same quarter last year. A detailed financial summary follows the text.

Chairman, President, and Chief Executive Officer, Thomas S. Kohlmann, commented, "We were fortunate to be among the members of the former VISA payments organization, and therefore eligible to become shareholders of VISA, Inc. upon its organization, and to benefit from the proceeds of the sale of its shares to the public on March 19, 2008. Details of the offering are available in the filings of VISA, Inc. with...

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