EX-99.1 3 ex99_1.txt REVISED SELECTED FINANCIAL DATA Exhibit 99.1 Northway Financial, Inc. Revised Selected Consolidated Financial Data (Unaudited) (In thousands, except for ratios and per share amounts)
Period end balance sheet data: December 31, 2003 2002 Total assets $ 609,216 $ 598,945 Loans, net (1) 463,460 437,901 Investments (2) 95,256 106,279 Deposits 463,307 476,194 Borrowings 95,021 74,871 Stockholders' equity 47,872 44,266 Book value per share $ 31.92 $ 29.19 Tangible book value per share (3) 22.29 19.07 Leverage ratio 7.22% 6.70% Shares outstanding 1,499,574 1,516,574 For the Three Months For the Twelve Months Ended Dec. 31, Ended Dec. 31, Operating results: 2003 2002 2003 2002 Net interest and dividend income $ 5,636 $ 5,598 $23,050 $21,644 Securities gains (losses), net 671 (116) 1,522 151 Other noninterest income 943 930 3,853 3,245 Loan loss provision 150 225 805 900 Write-down of equity securities -- 96 184 910 Amortization of core deposit intangible 239 212 954 476 Other operating expense 5,479 5,176 20,998 18,649 Income before tax 1,382 703 5,484 4,105 Income tax expense 378 321 1,867 1,507 Net income $ 1,004 $ 382 $ 3,617 $ 2,598 Earnings per share $ 0.66 $ 0.25 $ 2.40 $ 1.71 Earnings per share-assuming dilution 0.66 0.25 2.39 1.71 Return on average assets 0.64% 0.26% 0.59% 0.49% Return on average equity 8.40% 3.42% 7.82% 5.86% (1) Net of unearned income and the allowance for loan losses. Includes loans held-for-sale. (2) Includes federal funds sold, Federal Home Loan Bank stock, Federal Reserve Board stock and investment securities available-for-sale. (3) Includes a deduction of $14,439 and $15,348 for goodwill, core deposit intangible and mortgage servicing assets for 2003 and 2002, respectively.