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AKRR Cuts 12 Jobs As Freight Declines

Fri, 16 Jan 2009 20:48:00 GMT

Jan. 16--The Alaska Railroad Corp. has eliminated 12 jobs after reported declines in freight between Interior and Southcentral Alaska last year.
Freight declines were the result of the rising costs of fuel and construction efforts at the Flint Hills refinery, located in the Interior, that caused slowdowns there, said spokesperson Tim Thompson.
Flint Hills Refinery's 2008 production of petroleum products dropped about 14 percent over the previous year's production.

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USF to Hold a CEO Forum: 9 Business Leaders Will Be on Panel to Discuss Tough Situations

Sat, 18 Oct 2008 19:50:00 GMT

Oct. 18--In these challenging times for business, when global financial crises converge with an emerging recession, the University of Saint Francis offers a chance to see tested and proven business leaders think through tough situations under a spotlight.
The nine CEOs at the heart of the forum work in fields ranging from manufacturing to retailing.
Michael O'Neil, professor of business at Saint Francis, said the aim of the forum is to inform and inspire the audience and "to facilitate the exchange of intellectual capital."

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Tower Financial Corporation Reports Fourth Quarter Earnings Up 46.3% From Third Quarter

Thu, 22 Jan 2009 08:55:00 GMT

Tower Financial Corporation reported fourth quarter 2008 earnings of $483,000, or $0.12 per diluted share, compared with a net loss of $784,000, or $0.19 per share, reported for the fourth quarter 2007. For the year ended December 31, 2008 Tower reported net income of $1.9 million, or $0.46 per diluted share, compared to a net loss of $2.6 million, or $0.64 per share for the year ended December 31, 2007, an improvement of $4.5 million.[More...]

Tower Financial Corporation Reports Third Quarter Earnings of $0.08 Per Share, Up Significantly Over Third Quarter 2007

Thu, 16 Oct 2008 08:55:00 GMT

Tower Financial Corporation reported third quarter 2008 earnings of $330,000, or $0.08 per diluted share, compared with a net loss of $2.2 million, or $0.54 per share, reported third quarter 2007. For the nine months ended September 30, 2008 Tower reported a net income of $1.4 million, or $0.34 per diluted share, compared to a net loss of $1.8 million, or $0.45 per share for the nine months ended September 2007.[More...]

Tower Financial Corporation Names Cahill President and CEO; Schenkel to Remain as Chairman

Thu, 24 Jul 2008 11:58:00 GMT

Donald F. Schenkel, Chairman of Tower Financial Corporation , today announced that Tower's Board of Directors has appointed Michael D. Cahill as the corporation's President and Chief Executive Officer, effective August 1, 2008. As part of this planned succession, Donald F. Schenkel will remain as Chair of Tower Financial Corporation's Board, as well as Chair of Tower's two subsidiaries.[More...]

Tower Financial Corporation Reports Earnings of $0.08 Per Share - Jul 24 2008 8:12AM

Thu, 24 Jul 2008 11:57:00 GMT

Tower Financial Corporation today announced second quarter 2008 net income of $342,000, or $0.08 per diluted share, compared with net income of $217,000, or $0.05 per share, for the year-ago quarter. This brings year to date net income to $1.1 million, or $0.26 per diluted share, compared to year to date net income of $394,000, or $0.09 per share at June 30, 2007.[More...]

Tower Financial Corporation Foregoes Dividend

Fri, 06 Jun 2008 21:00:00 GMT

Tower Financial Corporation announced today that it has elected to forego the declaration of a dividend on its common stock. The decision was based on the desire to retain capital and hedge against challenging economic and banking industry conditions as well as to maintain Tower Bank's current 'well capitalized' status within the Federal Reserve System.[More...]

Tower Financial Corporation Reports Earnings of $0.17 Per Share

Thu, 24 Apr 2008 08:56:00 GMT

Tower Financial Corporation today announced first quarter 2008 net income of $711,000, or $0.17 per diluted share, compared with net income of $177,000, or $0.04 per share, for the year-ago quarter.[More...]

Tower Financial Corporation Announces Stock Repurchase Program

Wed, 16 May 2007 08:55:00 GMT

Tower Financial Corporation announced today that its board of directors has authorized the repurchase of up to sixty-five thousand shares of the Company's common stock, either through open market purchases in accordance with the requirements of Rule 10b-18 under the Securities Exchange Act of 1934, as amended, or in privately negotiated block purchases if and to the extent the Company becomes aware that individual blocks of shares are available for repurchase.[More...]

Tower Financial Corporation Declares Second Quarter Cash Dividend of $0.044 Per Share

Fri, 20 Apr 2007 09:05:00 GMT

Tower Financial Corporation announced today that its board of directors has declared a second quarter cash dividend of $0.044 per share on the Corporation's common stock. The dividend is payable on May 18, 2007 to shareholders of record at the close of business on May 1, 2007.[More...]

Tower Financial Corporation Reports First Quarter Earnings

Fri, 20 Apr 2007 08:55:00 GMT

Tower Financial Corporation today announced first quarter 2007 net income of $177,000, a decline of 82.2 percent from the $993,000 reported for the first quarter of 2006. Diluted earnings per share were $0.04, down 83.3 percent from first quarter 2006 earnings of $0.24 per share.[More...]

Board of Directors Promotes Richard R. Sawyer Chief Financial Officer of Tower Financial Corporation

Thu, 19 Apr 2007 21:09:00 GMT

Tower Financial Corporation announced that its board of directors has promoted Richard R. Sawyer, previously a corporate vice president, to chief financial officer and secretary of Tower Financial Corp. Mr. Sawyer, 42, will continue to serve as chief financial officer and secretary for Tower Bank and for Tower Trust, both wholly-owned subsidiaries of Tower Financial Corp.[More...]