Deposit Insurance

FPIC Insurance Group, Inc. Reports Fourth Quarter and Year 2009 Results

(MARKET WATCH) - FPIC Insurance Group, Inc. (”FPIC” or the “Company”) reported for the fourth quarter of 2009:

– income from continuing operations of $7.6 million, or $1.09 per diluted common share, as compared to $4.5 million, or $0.55 per diluted common share, for the fourth quarter of 2008;

– net income of $7.6 million, or $1.09 per diluted common share, as compared to $4.5 million, or $0.55 per diluted common share, for the fourth quarter of 2008; and

– operating earnings(1) of $6.6 million, or $0.96 per diluted common share, as compared to $9.7 million, or $1.18 per diluted common share, for the fourth quarter of 2008.

For the year ended December 31, 2009, FPIC reported:

– income from continuing operations of $33.6 million, or $4.57 per diluted common share, as compared to $32.1 million, or $3.69 per diluted common share, for 2008;

– net income of $34.0 million, or $4.63 per diluted common share, as compared to $32.1 million, or $3.69 per diluted common share, for 2008; and

– operating earnings of $31.4 million, or $4.27 per diluted common share, as compared to $41.1 million, or $4.73 per diluted common share, for 2008.

Read full story