-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FN+tcJJpxPwdlx29qM9s8s/mUnf3aRe/Gvc3OosJxh2lJnCviZewnqR7Ey/X8pUT 7+vk0zKCLst9TlE1FTZ2Jw== 0000904280-99-000239.txt : 19990817 0000904280-99-000239.hdr.sgml : 19990817 ACCESSION NUMBER: 0000904280-99-000239 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990630 FILED AS OF DATE: 19990816 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROCKY FORD FINANCIAL INC CENTRAL INDEX KEY: 0001031517 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 841413346 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 000-22441 FILM NUMBER: 99690526 BUSINESS ADDRESS: STREET 1: 801 SWINK AVENUE CITY: ROCKY FORD STATE: CO ZIP: 81067 BUSINESS PHONE: 7192547642 MAIL ADDRESS: STREET 1: 801 SWINK AVENUE CITY: ROCKY FORD STATE: CO ZIP: 81067 10QSB 1 U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-QSB [ X ] Quarterly report under Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 1999 Commission file number 333-20489 Rocky Ford Financial, Inc. ------------------------------------------------------------ (Exact Name of Small business Issuer as Specified in Its Charter) Delaware 84-1413346 - ------------------------------- ----------------------- (State of Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification No.) 801 Swink Avenue, Rocky Ford, Colorado 81067 -------------------------------------------------- (Address of Principal Executive Offices) 719-254-7642 -------------------------------------------------- (Issuer's Telephone Number, Including Area Code) Check whether the issuer's: (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90- days. Yes X No ----- ----- State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: Shares of common stock outstanding as of June 30, 1999 408,350 ROCKY FORD FINANCIAL, INC. CONTENTS PART I - FINANCIAL INFORMATION Item 1: Financial Statements Consolidated Statement of Condition at June 30, 1999 and September 30, 1998 3 Statements of Consolidated Income for the Three Months and Nine Months Ended June 30, 1999 and 1998 4 Statements of Consolidated Cash Flows for the Nine Months Ended June 30, 1999 and 1998 5 Notes to Financial Statements 6 - 7 Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations 8 - 10 PART II - OTHER INFORMATION Item 1: Legal Proceedings 11 Item 2: Changes in Securities 11 Item 3: Defaults Upon Senior Securities 11 Item 4: Submission of Matters to a Vote of Security Holders 11 Item 5: Other Information 11 Item 6: Exhibits and Reports on Form 8-K 11 Signature 11 2 ROCKY FORD FINANCIAL, INC. CONSOLIDATED STATEMENT OF FINANCIAL CONDITION (UNAUDITED)
June 30, September 30, 1999 1998 ---------------------------- ASSETS Cash and cash equivalents Interest - bearing $ 4,500,000 $ 3,700,000 Non-interest bearing 344,186 267,576 Certificates of deposit 2,099,000 1,599,000 Securities available for sale Equity securities (amortized cost of $11,327) 670,944 574,062 Securities held to maturity Mortgage-backed securities (estimated market value of $1,320,100 and $1,906,500) 1,280,265 1,806,286 U.S. agencies (estimated market value of $252,600 and $264,700) 249,375 249,199 Loans receivable - net 13,636,272 14,092,549 Federal Home Loan Bank stock, at cost 163,600 209,900 Retirement trust assets 295,311 295,311 Accrued interest receivable 132,621 121,660 Premises and equipment 99,666 76,688 Prepaids 35,225 20,526 ----------- ----------- TOTAL ASSETS $23,506,465 $23,012,757 =========== =========== LIABILITIES AND EQUITY Deposits $16,161,579 $15,597,944 Advances from borrowers for taxes and insurance 20,806 33,050 Accounts payable and accrued expenses 405,259 452,376 Deferred income taxes 220,100 205,539 ----------- ----------- TOTAL LIABILITIES 16,807,744 16,288,909 ----------- ----------- Commitments and contingencies Preferred stock - $.01 par value; authorized 1,000,000 shares; no shares issued or outstanding -- -- Common stock - $.01 par value; authorized 3,000,000 shares; issued and outstanding 423,200 4,232 4,232 Paid-in capital 3,848,838 3,844,821 Retained earnings - substantially restricted 2,853,788 2,791,147 Net unrealized gain on securities available for sale, net of tax of $244,100 and $208,200 415,532 354,496 Treasury stock, at cost - 14,850 shares (152,821) -- Note receivable from ESOP Trust (270,848) (270,848) ----------- ----------- TOTAL EQUITY 6,698,721 6,723,848 ----------- ----------- TOTAL LIABILITIES AND EQUITY $23,506,465 $23,012,757 =========== ===========
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 3 ROCKY FORD FINANCIAL, INC. CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
Three Months Ended Nine Months Ended June 30, June 30, 1999 1998 1999 1998 -------- ------- ------- ------- INTEREST INCOME Loans receivable $282,499 $298,989 $ 880,999 $ 883,195 Securities held 34,205 58,341 132,431 187,092 Other interest-bearing assets 80,996 68,154 238,785 207,283 -------- -------- ---------- ---------- TOTAL INTEREST INCOME 397,700 425,484 1,252,215 1,277,570 INTEREST ON DEPOSITS 191,522 189,766 576,334 576,122 -------- -------- ---------- ---------- NET INTEREST INCOME 206,178 235,718 675,881 701,448 (PROVISION FOR) RECOVERY OF LOAN LOSSES -- -- -- -- -------- -------- ---------- ---------- NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 206,178 235,718 675,881 701,448 -------- -------- ---------- ---------- NON-INTEREST INCOME Other charges 6,934 3,855 12,682 8,722 -------- -------- ---------- ---------- NON-INTEREST EXPENSE GENERAL AND ADMINISTRATIVE Compensation and benefits 74,463 77,274 231,764 233,682 Occupancy and equipment 10,747 7,795 25,423 22,957 Computer services 13,339 12,622 41,970 32,057 SAIF deposit insurance 4,152 4,296 12,458 13,145 Other 64,627 52,951 181,905 167,344 -------- -------- ---------- ---------- TOTAL NON-INTEREST EXPENSE 167,328 154,938 493,520 469,185 -------- -------- ---------- ---------- INCOME BEFORE TAXES 45,784 84,635 195,043 240,985 INCOME TAX (EXPENSE) BENEFIT (20,829) (30,887) (75,116) (95,620) -------- -------- ---------- ---------- NET INCOME $ 24,955 $ 53,748 $ 119,927 $ 145,365 ======== ======== ========== ========== BASIC EARNINGS PER COMMON SHARE $ 0.06 $ 0.14 $ 0.31 $ 0.37 ======== ======== ========== ========== DILUTED EARNINGS PER COMMON SHARE $ 0.06 $ 0.14 $ 0.31 $ 0.37 ======== ======== ========== ========== WEIGHTED AVERAGE COMMON SHARES OUTSTANDING BASIC 385,971 396,116 389,271 396,116 DILUTED 385,971 396,116 389,271 396,116 DIVIDENDS PER SHARE $ 0.15
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 4 ROCKY FORD FINANCIAL, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
Nine Months Ended June 30, 1999 1998 ---------- --------- CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 119,927 $ 145,365 ----------- ----------- Adjustments to reconcile net income to net cash provided by operating activities: Amortization of: Deferred loan origination fees (11,900) (7,276) Discounts on investments (176) (845) Stock dividend received from FHLB (8,600) (18,900) ESOP market value expense 4,017 15,617 Depreciation 16,337 12,568 Change in assets and liabilities Accrued interest receivable (10,961) 9,318 Prepaids (14,699) 19,666 Accounts payable and accrued expenses (47,117) 3,281 Current income taxes -- 50,020 Deferred income taxes (21,285) 2,471 ----------- ----------- TOTAL ADJUSTMENTS (94,384) 85,920 ----------- ----------- NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 25,543 231,285 ----------- ----------- CASH FLOWS FROM INVESTING ACTIVITIES Net change in certificates of deposit (500,000) 397,035 Loan originations and principal payments on loans 468,177 (422,864) Principal payments on mortgage-backed securities 526,021 468,589 Capital purchases (39,315) (8,365) Federal Home Loan Bank stock redeemed 54,900 -- ----------- ----------- NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES 509,783 434,395 ----------- ----------- CASH FLOWS FROM FINANCING ACTIVITIES Purchase of treasury stock (152,821) -- Net change in deposits 563,635 (565,339) Net change in mortgage escrow funds (12,244) (14,035) Dividends paid (57,286) (58,402) ----------- ----------- NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES 341,284 (637,776) ----------- ----------- NET INCREASE IN CASH AND CASH EQUIVALENTS 876,610 27,904 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 3,967,576 3,205,382 ----------- ----------- CASH AND CASH EQUIVALENTS AT END OF YEAR $ 4,844,186 $ 3,233,286 =========== =========== SUPPLEMENTAL DISCLOSURES OF CASH FLOWS Cash paid for: Taxes $ 213,822 $ 23,969 Interest 583,850 584,722
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 5 ROCKY FORD FINANCIAL, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) JUNE 30, 1999 Note 1. Nature of Business Rocky Ford Financial, Inc. (the "Company") was incorporated under the laws of the State of Delaware for the purpose of becoming the holding company of Rocky Ford Federal Savings and Loan Association (the "Association") in connection with the Association's conversion from a federally chartered mutual savings and loan association to a federally chartered stock savings and loan association, pursuant to its Plan of Conversion. The Company was organized in January 1997 to acquire all of the common stock of Rocky Ford Federal Savings and Loan Association upon its conversion to stock form Note 2. Basis of Presentation The accompanying unaudited consolidated financial statements,(except for the statement of financial condition at September 30, 1998, which is audited) have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-QSB of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management all adjustments necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. The financial statements of the Company are presented on a consolidated basis with those of Rocky Ford Federal Saving and Loan Association. The results of operations for the three and nine months ended June 30, 1998 are not necessarily indicative of the results of operations that may be expected for the year ended September 30, 1999. The accounting policies followed are as set forth in Note 1 of the Notes to Financial Statements in the 1998 Rocky Ford Financial Inc., financial statements, included as item 7 to the Company's annual report on Form 10-KSB for the year ended September 30, 1998, and incorporated herein by reference. Note 3. Regulatory Capital Requirements At June 30, 1999, the Association met each of the three current minimum regulatory capital requirements. The following table summarizes the Association's regulatory capital position at June 30, 1999:
Tangible Capital: Actual $4,829,000 22.31% Required 325,000 1.50 Excess $4,504,000 20.81% Tier 1 (Core) Capital: Actual $4,829,000 22.31% Required 866,000 4.00 Excess $3,963,000 18.31% Total Risk-Based Capital: Actual $5,191,000 56.96% Required 729,000 8.00 Excess $4,462,000 48.96%
6 ROCKY FORD FINANCIAL, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) JUNE 30, 1999 Note 3. Regulatory Capital Requirements (Continued) Tangible and core capital levels are shown as a percentage of total adjusted assets; risk-based capital levels are shown as a percentage of risk-weighted assets. Note 4. Earnings Per Share The Company adopted Financial Accounting Standards Board Statement No. 128 relating to earnings per share. The statement requires dual presentations of basic and diluted earnings per share on the face of the income statement. Basic EPS excludes dilution and is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diltuted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shares in the earnings of the entity. Note 5 Dividends Paid On January 11, 1999 and January 12, 1998, the Board of Directors declared cash dividends of $0.15 per share and $.15 per share, respectively, to stockholders of record as of February 26, 1999 and February 25, 1998, respectively. 7 ROCKY FORD FINANCIAL, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS COMPARISON OF FINANCIAL CONDITION AT JUNE 30, 1999 AND SEPTEMBER 30, 1998 The Company's total assets increased by $489,000 or 2.13% from $23.0 million at September 30, 1998 to $23.5 million at June 30, 1999. The growth is attributable to cash received from the increase in deposits. The Company's loan portfolio had a net decrease of approximately $456,000 during the nine months ended June 30, 1999. Net loans totaled $13.6 million at June 30, 1999 and $14.1 million at September 30, 1998. During the nine months ended June 30, 1999, the Company originated loans in the amount of $1.2 million and received loan payments in the amount of $1.7 million. As of June 30, 1999, the outstanding loan commitments for real estate loans was $86,000. The allowance for loan losses totaled $60,000 at June 30, 1999 and September 30, 1998. As of June 30, 1999 the Company had $86,500 of non-performing loans in its portfolio. There were no loans charged off or recoveries of previous loan losses during the nine months ended June 30, 1999. The determination of the allowance for loan losses is based on management's analysis, performed on a quarterly basis, of various factors, including the market value of the underlying collateral, growth and composition of the loan portfolio, the relationship of the allowance for loan losses to outstanding loans, historical loss experience, delinquency trends and prevailing economic conditions. Although management believes its allowance for loan losses is adequate, there can be no assurance that additional allowances will not be required or that losses on loans will not be incurred. The Company has had minimal losses on loans in prior years. At June 30, 1999, the ratio of the allowance for loan losses to net loans was .44%. as compared to .44% at September 30, 1998. The Company's interest earning assets, excluding loans, increased $900,000 from $8.1 million at September 30, 1998 to $9.0 million at June 30, 1999. The Company's investment portfolio, at June 30, 1999, included mortgage-backed and related securities classified as "held to maturity" carried at amortized cost of $1.5 million and an estimated fair value of $1.6 million, equity securities classified as "available for sale" with an estimated fair value of $671,000 and interest bearing deposits with various financial institutions totaling $6.6 million. At June 30, 1999 deposits increased to $16.2 million from $15.6 million at September 30, 1998 or a net increase of 3.61%. The increase is attributed to normal seasonal deposits. Management is continually evaluating the investment alternatives available to the Company's customers, and adjusts the pricing on its savings products to maintain its existing deposits. COMPARISON OF OPERATING RESULTS FOR THE NINE MONTHS ENDED JUNE 30, 1999 AND 1998 Net Income. The Company's net income for the nine months ended June 30, 1999 was $120,000 compared to net income of $145,000 for the nine months ended June 30, 1998. The decrease in net earnings for the nine months ended June 30, 1999 resulted primarily from the reduction of higher paying interest earning assets, primarily loans, to lower paying highly liquid assets consisting of cash investment securities. Net Interest Income. Net interest income for the nine months ended June 30, 1999 was $675,000 compared to $701,000 for the nine months ended June 30, 1998. The decrease in net interest income for the nine months ended June 30, 1999 was due to an decrease in the interest rate spread from 2.78% in 1998 to 2.56% in 1999. The decrease in the interest rate spread is caused by the rate of return on interest earning assets decreasing by 24 basis points from 7.64% as of June 30, 1998 to 7.40% as June 30, 1999, and the cost of deposits decreasing by only 2 basis points from 4.86% as of June 30, 1998 to 4.84% as of June 30, 1999. The decrease in the interest rate spread is attributed to payments on loans and mortgage backed securities that have been invested in highly liquid assets which have a lower rate of return. 8 ROCKY FORD FINANCIAL, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Interest Income. Interest income decreased by $25,000 from $1.28 million to $1.25 million or by 1.98%, during 1999 compared to 1998. The Company experienced a decrease in the average yield on the interest-earning assets from 7.64% in 1998 to 7.40% in 1999, with an increase in average interest earning assets from $22.3 million as of June 30, 1998 to $22.6 million as of June 30, 1999. Interest Expense. Interest expense was $576,000 for the nine months ended June 30, 1999 and the nine months ended June 30, 1998. The comparable expense for the periods was caused by the insignificant decrease of the average rate paid from 4.86% in 1998 to 4.84% in 1999 with a corresponding increase in average deposits from $15.8 million in 1998 to $15.9 million in 1999. Provision for Loan Losses. The allowance for loan losses is established through a provision for loan losses based on management's evaluation of the risk inherent in its loan portfolio and the general economy. Such evaluation considers numerous factors including, general economic conditions, loan portfolio composition, prior loss experience, the estimated fair value of the underlying collateral and other factors that warrant recognition in providing for an adequate loan loss allowance. The Company determined a provision for loan loss was not required for the nine months ended June 30, 1999 and 1998. Non-Interest Expense. The increase in non-interest expense of $24,000 is attributable to computer services and equipment changes relative to the year 2000 situation, and increased professional fees. Income Tax Expense. Tax expense recognized for the nine months ended June 30, 1999 and 1998 of $75,000 and $96,000 respectively, represents the estimated tax due on taxable income at the approximate effective tax rate of 40%. The rate exceeds the statutory rate due to nondeductible ESOP expenses recognized and the effect of state taxes. COMPARISON OF OPERATING RESULTS FOR THE THREE MONTHS ENDED JUNE 30, 1999 AND 1998 Net Income. The Company's net income for the three months ended June 30, 1999 and 1998 decreased from $54,000 in 1998 to $25,000 in 1999. The decrease is attributed to the reduced interest income, and increased professional fees for the 1999 three month period. Net Interest Income. Net interest income for the three months ended June 30, 1999 was $206,000 compared to $236,000 for the three months ended June 30, 1998. The decrease in net interest income for the three months ended June 30, 1999 was due to a 54 basis points decline in the rate spread from 2.78% for the three months ended June 30, 1998 to 2.24% for the three months ended June 30, 1999. Interest Income. Interest income decreased by $27,000, from $425,000 for the three months ended June 30, 1998 to $398,000 for the three months ended June 30, 1999. The Company experienced a decrease in the average yield on the interest-earning assets from 7.62% in 1998 to 7.02% in 1999. Interest Expense. Interest expense decreased $2,000 for the three months ended June 30, 1999 as compared to June 30, 1998. The decrease in expense for the period was caused by the $360,000 increase in average deposits from $15.7 million for the three months ended June 30, 1998 to $16.0 million for the three months ended June 30, 1999, with a decrease in the rates paid from 4.84% in 1998 to 4.78% in 1999. 9 ROCKY FORD FINANCIAL, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS LIQUIDITY AND CAPITAL RESOURCES The Company's primary sources of funds consists of deposits, repayment of loans and mortgage-backed securities, maturities of investments and interest-bearing deposits, and funds provided from operations. While scheduled repayments of loans and mortgage-backed securities and maturities of investment securities are predicable sources of funds, deposit flows and loan prepayments are greatly influenced by the general level of interest rates, economic conditions and competition. The Company uses its liquidity resources principally to fund existing and future loan commitments, to fund maturing certificates of deposit and demand deposit withdrawals, to invest in other interest-earning assets, to maintain liquidity, and to meet operating expenses. Management believes that proceeds from loan repayments and other sources of funds will be adequate to meet the Company's liquidity needs for the immediate future. The Company is required to maintain minimum levels of liquid assets as defined by OTS regulations. This requirement, which may be varied at the direction of the OTS depending upon economic conditions and deposit flows, is based upon a percentage of deposits and short-term borrowings. The required minimum ratio was 5% until November 24, 1997, when it was changed to 4%. The Company has historically maintained a level of liquid assets in excess of regulatory requirements. The Company's liquidity ratios at June 30, 1999 and 1998 were 26% and 19%, respectively. IMPACT OF INFLATION AND CHANGING PRICES The financial statements and related data presented herein have been prepared in accordance with generally accepted accounting principles, which require the measurement of financial position and results of operations in terms of historical dollars without considering changes in the relative purchasing power of money over time because of inflation. Unlike most industrial companies, virtually all of the assets and liabilities of the Company are monetary in nature. As a result, interest rates have a more significant impact on the Company's performance than the effects of general levels of inflation. Interest rates do not necessarily move in same direction or in the same magnitude as the prices of goods and services. YEAR 2000 READINESS DISCLOSURE The Company has an ongoing program of evaluating the effect of the year 2000 on its information processing systems. The Company's core data processing is performed by an outside vendor. As of June 30, 1999, all of the vendors clients were running on Year 2000-ready software, with the final Y2K client testing scheduled for July 12-23, 1999. It is management's position that the cost of additional modifications, if any, will not have a material effect on the Company's operations. All costs associated with modifications have been expensed as incurred. It is not possible to be certain that all aspects of the Year 2000 issue affecting the Company, including those related to the effort of customers, other financial institutions, or other third parties, such as utility providers, will be fully resolved before the year 2000. The Company has adopted a contingency plan and business resumption plan in case critical systems are found not Year 2000 ready or fail. The plan has identified alternative means of operations, principally a manual accounting and transaction system, due to the nature of the Company's business and number of accounts. The plan has been reviewed and tested with no exceptions noted. 10 ROCKY FORD FINANCIAL, INC. PART II - OTHER INFORMATION ITEM 1: Legal Proceedings A former employee has filed a charge of employment discrimination against Rocky Ford Federal Savings and Loan, a wholly owned subsidiary of the Company, with the Colorado Civil Rights Division ("CCRD"). The employee will be obligated to exhaust the CCRD's processes before commencing any legal action. The Association investigated her allegations while she was employed and took appropriate action to respond to the claims of discrimination at the time. The Association believes the claim is without merit, and will vigorously defend this matter. A finding for the plaintiff by the CCRD and/or any significant damages awarded to the plaintiff in a subsequent civil proceeding (if filed) could have a negative impact on the Association and Company's results of operations. ITEM 2: Changes in Securities Not Applicable. ITEM 3: Defaults Upon Senior Securities Not Applicable ITEM 4: Submission of Matters to a Vote of Security Holders. Not Applicable ITEM 5: Other Information None ITEM 6: Exhibits and Reports on Form 8-K Exhibit 27 Financial Data Schedules No form 8-K was filed for the quarter SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Rocky Ford Financial, Inc. Registrant Date July 30, 1999 /s/ Keith E. Waggoner -------------------------------- Keith E. Waggoner, President 11 EX-27 2 - ARTICLE 9 FIN. DATA SCHEDULE FOR 3RD QTR 10-QSB FOR FISCAL YEAR 1999
9 9-MOS SEP-30-1999 JUN-30-1999 344,186 6,599,000 0 0 670,944 1,529,640 1,572,700 13,636,272 60,000 23,501,865 16,161,579 0 646,165 0 4,232 0 0 6,694,489 23,506,465 880,999 132,431 238,785 1,252,215 576,334 576,334 674,881 0 0 493,520 195,043 195,043 0 0 119,927 0.31 0.31 7.40 86,500 0 0 0 60,000 0 0 60,000 60,000 0 0
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