Michigan (State or other jurisdiction of incorporation) |
000-26719 (Commission File Number) |
38-3360865 (IRS Employer Identification Number) |
310 Leonard Street NW, Grand Rapids, Michigan (Address of principal executive offices) |
49504 (Zip Code) |
|
Registrants telephone number, including area code 616-406-3000 |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Exhibit Number | Description | |||
99.1 | Press release of Mercantile Bank Corporation
reporting financial results and earnings for the quarter ended June 30, 2011. |
Mercantile Bank Corporation |
||||
By: | /s/ Charles E. Christmas | |||
Charles E. Christmas | ||||
Senior Vice President, Chief Financial Officer and Treasurer |
||||
2
Exhibit Number | Description | |||
99.1 | Press release of Mercantile Bank Corporation
reporting financial results and earnings for the
quarter ended June 30, 2011 |
3
| Significantly improved profitability | ||
| Strengthened capital ratios | ||
| Additional improvement in asset quality; Nonperforming assets reduced by 19 percent from previous quarter-end, 44 percent from a year ago | ||
| Provision for loan losses down $4.5 million or 73 percent from the previous years second quarter | ||
| Level of loans in the 30- to 89-days delinquent category remains at virtually zero | ||
| Continued improvement of core operating earnings; Net interest margin remains near historical high |
($000s) | 6/30/11 | 3/31/11 | 12/31/10 | 9/30/10 | 6/30/10 | |||||||||||||||
Residential-Related: |
||||||||||||||||||||
Vacant Land |
$ | 13,484 | $ | 16,321 | $ | 17,201 | $ | 18,013 | $ | 20,351 | ||||||||||
Land Development |
18,134 | 27,171 | 28,147 | 29,735 | 29,627 | |||||||||||||||
Construction |
4,706 | 4,906 | 5,621 | 5,854 | 6,627 | |||||||||||||||
36,324 | 48,398 | 50,969 | 53,602 | 56,605 | ||||||||||||||||
Comml Non-Owner Occupied: |
||||||||||||||||||||
Vacant Land |
12,639 | 13,669 | 14,293 | 15,416 | 19,812 | |||||||||||||||
Land Development |
16,348 | 16,492 | 17,807 | 18,221 | 18,585 | |||||||||||||||
Construction |
10,709 | 10,046 | 31,827 | 39,620 | 52,295 | |||||||||||||||
Commercial Buildings |
429,708 | 484,629 | 489,371 | 509,777 | 512,816 | |||||||||||||||
469,404 | 524,836 | 553,298 | 583,034 | 603,508 | ||||||||||||||||
Comml Owner Occupied: |
||||||||||||||||||||
Construction |
1,517 | 1,404 | 672 | 0 | 1,360 | |||||||||||||||
Commercial Buildings |
264,848 | 273,739 | 282,388 | 298,846 | 302,768 | |||||||||||||||
266,365 | 275,143 | 283,060 | 298,846 | 304,128 | ||||||||||||||||
Total |
$ | 772,093 | $ | 848,377 | $ | 887,327 | $ | 935,482 | $ | 964,241 | ||||||||||
Note | Excludes residential mortgage loans representing permanent financing of owner occupied dwellings and home equity lines of credit. |
NONPERFORMING ASSETS | ||||||||||||||||||||
($000s) | 6/30/11 | 3/31/11 | 12/31/10 | 9/30/10 | 6/30/10 | |||||||||||||||
Residential Real Estate: |
||||||||||||||||||||
Land Development |
$ | 8,531 | $ | 14,252 | $ | 14,547 | $ | 16,746 | $ | 21,551 | ||||||||||
Construction |
2,089 | 2,268 | 2,333 | 2,924 | 10,231 | |||||||||||||||
Owner Occupied / Rental |
8,996 | 8,893 | 9,454 | 7,251 | 6,159 | |||||||||||||||
19,616 | 25,413 | 26,334 | 26,921 | 37,941 | ||||||||||||||||
Commercial Real Estate: |
||||||||||||||||||||
Land Development |
2,223 | 2,422 | 2,454 | 2,277 | 2,050 | |||||||||||||||
Construction |
0 | 0 | 0 | 0 | 571 | |||||||||||||||
Owner Occupied |
10,749 | 13,389 | 14,740 | 15,083 | 16,216 | |||||||||||||||
Non-Owner Occupied |
25,526 | 30,086 | 34,209 | 41,725 | 46,706 | |||||||||||||||
38,498 | 45,897 | 51,403 | 59,085 | 65,543 | ||||||||||||||||
Non-Real Estate: |
||||||||||||||||||||
Commercial Assets |
3,777 | 4,728 | 8,221 | 6,386 | 7,049 | |||||||||||||||
Consumer Assets |
4 | 51 | 161 | 5 | 0 | |||||||||||||||
3,781 | 4,779 | 8,382 | 6,391 | 7,049 | ||||||||||||||||
Total |
$ | 61,895 | $ | 76,089 | $ | 86,119 | $ | 92,397 | $ | 110,533 | ||||||||||
NONPERFORMING LOANS | ||||||||||||||||||||
($000s) | 6/30/11 | 3/31/11 | 12/31/10 | 9/30/10 | 6/30/10 | |||||||||||||||
Past due 90 days or more and
accruing interest |
$ | 0 | $ | 0 | $ | 766 | $ | 0 | $ | 24 | ||||||||||
Nonaccrual, including troubled
debt restructurings |
43,422 | 55,444 | 63,915 | 64,639 | 81,543 | |||||||||||||||
Troubled debt restructurings,
accruing interest |
0 | 4,761 | 4,763 | 5,862 | 5,946 | |||||||||||||||
Total |
$ | 43,422 | $ | 60,205 | $ | 69,444 | $ | 70,501 | $ | 87,513 | ||||||||||
NONPERFORMING ASSETS RECONCILIATION | ||||||||||||||||||||
($000s) | 2Q 2011 | 1Q 2011 | 4Q 2010 | 3Q 2010 | 2Q 2010 | |||||||||||||||
Beginning balance |
$ | 76,089 | $ | 86,119 | $ | 92,397 | $ | 110,533 | $ | 117,557 | ||||||||||
Additions |
6,478 | 3,848 | 13,602 | 10,905 | 13,101 | |||||||||||||||
Returns to performing
status |
0 | (766 | ) | (1,019 | ) | (7,938 | ) | (1,356 | ) | |||||||||||
Principal payments |
(12,067 | ) | (5,555 | ) | (7,217 | ) | (5,422 | ) | (7,332 | ) | ||||||||||
Sale proceeds |
(2,547 | ) | (2,085 | ) | (5,282 | ) | (1,209 | ) | (2,398 | ) | ||||||||||
Loan charge-offs |
(5,393 | ) | (4,800 | ) | (4,650 | ) | (12,829 | ) | (8,176 | ) | ||||||||||
Valuation write-downs |
(665 | ) | (672 | ) | (1,712 | ) | (1,643 | ) | (863 | ) | ||||||||||
Total |
$ | 61,895 | $ | 76,089 | $ | 86,119 | $ | 92,397 | $ | 110,533 | ||||||||||
NET LOAN CHARGE-OFFS (RECOVERIES) | ||||||||||||||||||||
($000s) | 2Q 2011 | 1Q 2011 | 4Q 2010 | 3Q 2010 | 2Q 2010 | |||||||||||||||
Residential Real Estate: |
||||||||||||||||||||
Land Development |
$ | 2,496 | $ | (2 | ) | $ | 312 | $ | 2,115 | $ | 1,254 | |||||||||
Construction |
(9 | ) | 0 | 173 | 93 | 649 | ||||||||||||||
Owner Occupied / Rental |
1,819 | 1,208 | 120 | 1,212 | 407 | |||||||||||||||
4,306 | 1,206 | 605 | 3,420 | 2,310 | ||||||||||||||||
Commercial Real Estate: |
||||||||||||||||||||
Land Development |
(62 | ) | (73 | ) | 219 | 360 | 674 | |||||||||||||
Construction |
0 | 0 | 0 | 0 | 660 | |||||||||||||||
Owner Occupied |
755 | 1,436 | 976 | 2,159 | 726 | |||||||||||||||
Non-Owner Occupied |
445 | (40 | ) | 2,642 | 6,805 | 2,551 | ||||||||||||||
1,138 | 1,323 | 3,837 | 9,324 | 4,611 | ||||||||||||||||
Non-Real Estate: |
||||||||||||||||||||
Commercial Assets |
(336 | ) | 2,794 | 819 | 1,517 | 1,670 | ||||||||||||||
Consumer Assets |
(9 | ) | 126 | 47 | 1 | (3 | ) | |||||||||||||
(345 | ) | 2,920 | 866 | 1,518 | 1,667 | |||||||||||||||
Total |
$ | 5,099 | $ | 5,449 | $ | 5,308 | $ | 14,262 | $ | 8,588 | ||||||||||
Michael Price |
Charles Christmas | |
Chairman & CEO |
Chief Financial Officer | |
616-726-1600 |
616-726-1202 | |
mprice@mercbank.com |
cchristmas@mercbank.com |
JUNE 30, | DECEMBER 31, | JUNE 30, | ||||||||||
2011 | 2010 | 2010 | ||||||||||
(Unaudited) | (Audited) | (Unaudited) | ||||||||||
ASSETS |
||||||||||||
Cash and due from banks |
$ | 13,988,000 | $ | 6,674,000 | $ | 16,521,000 | ||||||
Interest-bearing
deposit balances |
9,501,000 | 9,600,000 | 9,470,000 | |||||||||
Federal funds sold |
103,510,000 | 47,924,000 | 53,892,000 | |||||||||
Total cash and cash equivalents |
126,999,000 | 64,198,000 | 79,883,000 | |||||||||
Securities available for sale |
199,785,000 | 220,830,000 | 217,117,000 | |||||||||
Federal Home Loan Bank stock |
11,961,000 | 14,345,000 | 15,681,000 | |||||||||
Loans |
1,122,999,000 | 1,262,630,000 | 1,410,710,000 | |||||||||
Allowance for loan losses |
(38,720,000 | ) | (45,368,000 | ) | (47,738,000 | ) | ||||||
Loans, net |
1,084,279,000 | 1,217,262,000 | 1,362,972,000 | |||||||||
Premises and equipment, net |
27,144,000 | 27,873,000 | 28,636,000 | |||||||||
Bank owned life insurance |
47,631,000 | 46,743,000 | 45,890,000 | |||||||||
Accrued interest receivable |
5,010,000 | 5,942,000 | 6,278,000 | |||||||||
Other real estate owned and repossessed assets |
18,473,000 | 16,675,000 | 23,020,000 | |||||||||
Other assets |
16,592,000 | 18,553,000 | 24,585,000 | |||||||||
Total assets |
$ | 1,537,874,000 | $ | 1,632,421,000 | $ | 1,804,062,000 | ||||||
LIABILITIES AND SHAREHOLDERS EQUITY |
||||||||||||
Deposits: |
||||||||||||
Noninterest-bearing |
$ | 144,761,000 | $ | 112,944,000 | $ | 126,572,000 | ||||||
Interest-bearing |
1,103,171,000 | 1,160,888,000 | 1,213,588,000 | |||||||||
Total deposits |
1,247,932,000 | 1,273,832,000 | 1,340,160,000 | |||||||||
Securities sold under agreements to repurchase |
71,207,000 | 116,979,000 | 108,271,000 | |||||||||
Federal Home Loan Bank advances |
45,000,000 | 65,000,000 | 160,000,000 | |||||||||
Subordinated debentures |
32,990,000 | 32,990,000 | 32,990,000 | |||||||||
Other borrowed money |
1,721,000 | 11,804,000 | 16,836,000 | |||||||||
Accrued interest and other liabilities |
8,107,000 | 5,880,000 | 6,762,000 | |||||||||
Total liabilities |
1,406,957,000 | 1,506,485,000 | 1,665,019,000 | |||||||||
SHAREHOLDERS EQUITY |
||||||||||||
Preferred stock, net of discount |
20,202,000 | 20,077,000 | 19,955,000 | |||||||||
Common stock |
173,939,000 | 173,815,000 | 173,769,000 | |||||||||
Retained earnings (deficit) |
(65,312,000 | ) | (68,781,000 | ) | (57,818,000 | ) | ||||||
Accumulated other comprehensive income (loss) |
2,088,000 | 825,000 | 3,137,000 | |||||||||
Total shareholders equity |
130,917,000 | 125,936,000 | 139,043,000 | |||||||||
Total liabilities and shareholders equity |
$ | 1,537,874,000 | $ | 1,632,421,000 | $ | 1,804,062,000 | ||||||
THREE MONTHS ENDED | THREE MONTHS ENDED | SIX MONTHS ENDED | SIX MONTHS ENDED | |||||||||||||
June 30, 2011 | June 30, 2010 | June 30, 2011 | June 30, 2010 | |||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
Interest income |
||||||||||||||||
Loans, including fees |
$ | 16,171,000 | $ | 20,066,000 | $ | 32,903,000 | $ | 40,471,000 | ||||||||
Investment securities |
2,235,000 | 2,583,000 | 4,626,000 | 5,326,000 | ||||||||||||
Federal funds sold |
48,000 | 37,000 | 78,000 | 69,000 | ||||||||||||
Interest-bearing
deposit balances |
6,000 | 10,000 | 12,000 | 19,000 | ||||||||||||
Total interest income |
18,460,000 | 22,696,000 | 37,619,000 | 45,885,000 | ||||||||||||
Interest expense |
||||||||||||||||
Deposits |
4,333,000 | 5,992,000 | 8,967,000 | 12,489,000 | ||||||||||||
Short-term borrowings |
116,000 | 353,000 | 277,000 | 697,000 | ||||||||||||
Federal Home Loan Bank advances |
606,000 | 1,576,000 | 1,212,000 | 3,272,000 | ||||||||||||
Other borrowed money |
247,000 | 354,000 | 556,000 | 700,000 | ||||||||||||
Total interest expense |
5,302,000 | 8,275,000 | 11,012,000 | 17,158,000 | ||||||||||||
Net interest income |
13,158,000 | 14,421,000 | 26,607,000 | 28,727,000 | ||||||||||||
Provision for loan losses |
1,700,000 | 6,200,000 | 3,900,000 | 14,600,000 | ||||||||||||
Net interest income after
provision for loan losses |
11,458,000 | 8,221,000 | 22,707,000 | 14,127,000 | ||||||||||||
Noninterest income |
||||||||||||||||
Service charges on accounts |
401,000 | 447,000 | 823,000 | 913,000 | ||||||||||||
Gain on sale of commercial loans |
0 | 5,000 | 0 | 225,000 | ||||||||||||
Net gain on sale of investment securities |
0 | 0 | 0 | 476,000 | ||||||||||||
Other income |
1,302,000 | 1,544,000 | 2,632,000 | 3,037,000 | ||||||||||||
Total noninterest income |
1,703,000 | 1,996,000 | 3,455,000 | 4,651,000 | ||||||||||||
Noninterest expense |
||||||||||||||||
Salaries and benefits |
4,364,000 | 4,559,000 | 8,735,000 | 9,225,000 | ||||||||||||
Occupancy |
708,000 | 723,000 | 1,409,000 | 1,473,000 | ||||||||||||
Furniture and equipment |
304,000 | 396,000 | 607,000 | 805,000 | ||||||||||||
Nonperforming asset costs |
1,950,000 | 2,460,000 | 5,048,000 | 4,964,000 | ||||||||||||
FDIC insurance costs |
719,000 | 1,167,000 | 1,635,000 | 2,353,000 | ||||||||||||
Other expense |
2,398,000 | 2,137,000 | 4,590,000 | 4,256,000 | ||||||||||||
Total noninterest expense |
10,443,000 | 11,442,000 | 22,024,000 | 23,076,000 | ||||||||||||
Income (loss) before federal income
tax expense (benefit) |
2,718,000 | (1,225,000 | ) | 4,138,000 | (4,298,000 | ) | ||||||||||
Federal income tax expense (benefit) |
0 | (862,000 | ) | 0 | (1,292,000 | ) | ||||||||||
Net income (loss) |
2,718,000 | (363,000 | ) | 4,138,000 | (3,006,000 | ) | ||||||||||
Preferred stock dividends and accretion |
337,000 | 321,000 | 669,000 | 641,000 | ||||||||||||
Net income (loss) attributable
to common shares |
$ | 2,381,000 | $ | (684,000 | ) | $ | 3,469,000 | $ | (3,647,000 | ) | ||||||
Basic earnings (loss) per share |
$ | 0.28 | $ | (0.08 | ) | $ | 0.40 | $ | (0.43 | ) | ||||||
Diluted earnings (loss) per share |
$ | 0.27 | $ | (0.08 | ) | $ | 0.39 | $ | (0.43 | ) | ||||||
Average basic shares outstanding |
8,604,476 | 8,505,086 | 8,601,835 | 8,503,388 | ||||||||||||
Average diluted shares outstanding |
8,872,692 | 8,505,086 | 8,878,595 | 8,503,388 |
Quarterly | Year-To-Date | |||||||||||||||||||||||||||
2011 | 2011 | 2010 | 2010 | 2010 | ||||||||||||||||||||||||
(dollars in thousands except per share data) | 2nd Qtr | 1st Qtr | 4th Qtr | 3rd Qtr | 2nd Qtr | 2011 | 2010 | |||||||||||||||||||||
EARNINGS |
||||||||||||||||||||||||||||
Net interest income |
$ | 13,158 | 13,449 | 13,687 | 13,935 | 14,421 | 26,607 | 28,727 | ||||||||||||||||||||
Provision for loan losses |
$ | 1,700 | 2,200 | 6,800 | 10,400 | 6,200 | 3,900 | 14,600 | ||||||||||||||||||||
Noninterest income |
$ | 1,703 | 1,752 | 2,304 | 2,289 | 1,996 | 3,455 | 4,651 | ||||||||||||||||||||
Noninterest expense |
$ | 10,443 | 11,581 | 12,181 | 11,899 | 11,442 | 22,024 | 23,076 | ||||||||||||||||||||
Net income (loss) before federal income tax expense (benefit) |
$ | 2,718 | 1,420 | (2,990 | ) | (6,075 | ) | (1,225 | ) | 4,138 | (4,298 | ) | ||||||||||||||||
Net income (loss) |
$ | 2,718 | 1,420 | (4,953 | ) | (5,357 | ) | (363 | ) | 4,138 | (3,006 | ) | ||||||||||||||||
Net income (loss) common shares |
$ | 2,381 | 1,088 | (5,282 | ) | (5,682 | ) | (684 | ) | 3,469 | (3,647 | ) | ||||||||||||||||
Basic earnings (loss) per share |
$ | 0.28 | 0.13 | (0.62 | ) | (0.67 | ) | (0.08 | ) | 0.40 | (0.43 | ) | ||||||||||||||||
Diluted earnings (loss) per share |
$ | 0.27 | 0.12 | (0.62 | ) | (0.67 | ) | (0.08 | ) | 0.39 | (0.43 | ) | ||||||||||||||||
Average basic shares outstanding |
8,604,476 | 8,599,166 | 8,516,202 | 8,507,174 | 8,505,086 | 8,601,835 | 8,503,388 | |||||||||||||||||||||
Average diluted shares outstanding |
8,872,692 | 8,884,675 | 8,516,202 | 8,507,174 | 8,505,086 | 8,878,595 | 8,503,388 | |||||||||||||||||||||
PERFORMANCE RATIOS |
||||||||||||||||||||||||||||
Return on average assets |
0.61 | % | 0.28 | % | (1.21 | %) | (1.27 | %) | (0.15 | %) | 0.44 | % | (0.39 | %) | ||||||||||||||
Return on average common equity |
7.39 | % | 3.49 | % | (15.83 | %) | (16.14 | %) | (1.98 | %) | 5.47 | % | (5.28 | %) | ||||||||||||||
Net interest margin (fully tax-equivalent) |
3.61 | % | 3.64 | % | 3.36 | % | 3.33 | % | 3.31 | % | 3.62 | % | 3.28 | % | ||||||||||||||
Efficiency ratio |
70.27 | % | 76.19 | % | 76.17 | % | 73.34 | % | 69.69 | % | 73.26 | % | 69.14 | % | ||||||||||||||
Full-time equivalent employees |
235 | 241 | 242 | 250 | 248 | 235 | 248 | |||||||||||||||||||||
CAPITAL |
||||||||||||||||||||||||||||
Period-ending equity to assets |
8.51 | % | 8.04 | % | 7.71 | % | 7.43 | % | 7.71 | % | 8.51 | % | 7.71 | % | ||||||||||||||
Tier 1 leverage capital ratio |
10.27 | % | 9.88 | % | 9.09 | % | 9.15 | % | 9.02 | % | 10.27 | % | 9.02 | % | ||||||||||||||
Tier 1 risk-based capital ratio |
12.58 | % | 11.70 | % | 11.17 | % | 10.77 | % | 10.65 | % | 12.58 | % | 10.65 | % | ||||||||||||||
Total risk-based capital ratio |
13.85 | % | 12.98 | % | 12.45 | % | 12.04 | % | 11.92 | % | 13.85 | % | 11.92 | % | ||||||||||||||
Book value per common share |
$ | 12.77 | 12.30 | 12.20 | 13.23 | 13.74 | 12.77 | 13.74 | ||||||||||||||||||||
Cash dividend per common share |
$ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | ||||||||||||||||||||
ASSET QUALITY |
||||||||||||||||||||||||||||
Gross loan charge-offs |
$ | 6,733 | 6,031 | 5,892 | 14,499 | 9,891 | 12,764 | 16,737 | ||||||||||||||||||||
Net loan charge-offs |
$ | 5,099 | 5,449 | 5,308 | 14,262 | 8,588 | 10,548 | 14,740 | ||||||||||||||||||||
Net loan charge-offs to average loans |
1.73 | % | 1.79 | % | 1.63 | % | 4.11 | % | 2.35 | % | 1.76 | % | 1.99 | % | ||||||||||||||
Allowance for loan losses |
$ | 38,720 | 42,118 | 45,368 | 43,876 | 47,738 | 38,720 | 47,738 | ||||||||||||||||||||
Allowance for loan losses to total loans |
3.45 | % | 3.49 | % | 3.59 | % | 3.30 | % | 3.38 | % | 3.45 | % | 3.38 | % | ||||||||||||||
Nonperforming loans |
$ | 43,422 | 60,205 | 69,444 | 70,501 | 87,513 | 43,422 | 87,513 | ||||||||||||||||||||
Other real estate and repossessed assets |
$ | 18,473 | 15,884 | 16,675 | 21,896 | 23,020 | 18,473 | 23,020 | ||||||||||||||||||||
Nonperforming assets to total assets |
4.02 | % | 4.83 | % | 5.28 | % | 5.10 | % | 6.13 | % | 4.02 | % | 6.13 | % | ||||||||||||||
END OF PERIOD BALANCES |
||||||||||||||||||||||||||||
Loans |
$ | 1,122,999 | 1,206,886 | 1,262,630 | 1,329,156 | 1,410,710 | 1,122,999 | 1,410,710 | ||||||||||||||||||||
Total earning assets (before allowance) |
$ | 1,447,756 | 1,494,163 | 1,555,329 | 1,715,322 | 1,706,870 | 1,447,756 | 1,706,870 | ||||||||||||||||||||
Total assets |
$ | 1,537,874 | 1,576,935 | 1,632,421 | 1,813,383 | 1,804,062 | 1,537,874 | 1,804,062 | ||||||||||||||||||||
Deposits |
$ | 1,247,932 | 1,253,644 | 1,273,832 | 1,351,864 | 1,340,160 | 1,247,932 | 1,340,160 | ||||||||||||||||||||
Shareholders equity |
$ | 130,917 | 126,814 | 125,936 | 134,734 | 139,043 | 130,917 | 139,043 | ||||||||||||||||||||
AVERAGE BALANCES |
||||||||||||||||||||||||||||
Loans |
$ | 1,179,786 | 1,233,037 | 1,292,289 | 1,378,248 | 1,465,631 | 1,206,264 | 1,491,123 | ||||||||||||||||||||
Total earning assets (before allowance) |
$ | 1,483,409 | 1,519,304 | 1,636,471 | 1,680,362 | 1,770,391 | 1,501,258 | 1,796,962 | ||||||||||||||||||||
Total assets |
$ | 1,566,708 | 1,602,882 | 1,728,375 | 1,774,671 | 1,862,526 | 1,584,695 | 1,891,478 | ||||||||||||||||||||
Deposits |
$ | 1,251,818 | 1,261,590 | 1,339,149 | 1,313,902 | 1,390,397 | 1,256,677 | 1,411,626 | ||||||||||||||||||||
Shareholders equity |
$ | 129,242 | 126,412 | 132,409 | 139,629 | 138,907 | 127,835 | 139,194 |
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