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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: Sherrie Holton who wrote (1624)	4/22/1999 8:44:00 PM
From: Dorine Essey	Respond to of 2414

Sherrie, I feel that NTBK will continue yo rise however, I also see profit taking with every new high. The earnings were great and the future even looks better. Can you believe high high we went we closed up 28 1/2 points although I had seen 34 points in DLJ Direct Live quotes. OT***of course our XNET keeps going up. Dorine

To: Sherrie Holton who wrote (1624)	4/22/1999 9:11:00 PM
From: Dorine Essey	Respond to of 2414

ATLANTA, April 22 (Reuters) - Internet bank Net.B@nk Inc.NTBK.O said on Thursday that it posted a $691,000 profit ATLANTA, April 22 (Reuters) - Internet bank Net.B@nk Inc.NTBK.O said on Thursday that it posted a $691,000 profit in the first quarter, up from a loss of $151,000 in last year's quarter, as it continues to add new accounts. The bank, which operates online and has no physical branches, earned 9 cents a share, topping the 2 cents a share loss it posted in last year's first quarter and matching Wall Street's expectations, tracking service First Call said. The stock soared $18.50 to $166 in morning trading, extending a rally the company has enjoyed over the last several weeks as Internet investors hungrily snatch up the shares of companies that conduct business online. Another Internet bank stock, TeleBanc Financial Corp. TBFC.O, added $5.50 to $101. Online brokers have also seen their stocks surge as a growing number of customers trade securities over the Internet. "The first quarter financial results are in line with earlier analysts' expectations despite increased marketing expenses related to the introduction of a major marketing campaign begun in the quarter to attract traditional checking and money market customers," Chief Executive D.R. Grimes said. Net.B@nk's accounts have increased more than 50 percent since the start of this year and now total about 27,000, the bank said. Net.B@nk can offer customers better deposit rates since its costs are lower for not having to support branches. It also said transactional deposit accounts now make up more than two-thirds of its total account base. "The numbers look good," Sean Ryan, an analyst at Bear Stearns said. "The number was in line despite better-than- expected growth in accounts, predominantly checking accounts. These are profitable in the long run, but do entail more upfront costs." Noninterest expense rose to $2.15 million in the quarter from $1.17 million in the year-ago quarter. The bank completed an upgrade of its online technology platform in the first quarter, it said. REUTERS Rtr 19:22 04-22-99