EX-99 3 pacommerceex99-2.txt EX 99.2 Exhibit 99.2
Pennsylvania Commerce Bancorp, Inc. Selected Consolidated Financial Data (Unaudited) At or for the At or for the Three Months Ended Six Months Ended June 30, June 30, ------------------------------------ ------------------------------------ % % ( in thousands, except per share amounts) 2004 2003 Change 2004 2003 Change ----------- ------------ --------- --------- --------- ------------ Income Statement Data: Net interest income $ 11,641 $ 8,195 42 % $ 22,609 $ 15,799 43 % Provision for loan losses 675 525 29 % 1,250 850 47 % Noninterest income 2,716 2,216 23 % 5,302 4,407 20 % Noninterest operating expenses 10,449 7,427 41 % 20,566 14,455 42 % Net income 2,181 1,658 + 32 % 4,109 3,306 + 24 % Per Common Share Data: Net income: Basic $ 0.93 $ 0.73 27 % $ 1.76 $ 1.46 21 % Net income: Diluted 0.86 0.68 + 26 % 1.62 1.36 + 19 % Book Value $ 21.51 $ 20.26 + 6 % Weighted average shares outstanding: Basic 2,313 2,246 2,308 2,238 Diluted 2,522 2,423 2,517 2,409 Balance Sheet Data: Total assets $1,184,870 $845,297 + 40 % Loans (net) 588,398 401,073 47 % Allowance for loan losses 7,019 5,667 24 % Investment Securities 503,742 340,557 48 % --------- --------- Total deposits 978,258 782,733 25 % --------- --------- Core deposits 921,843 731,485 26 % --------- --------- Jr. Subordinated Debt 13,600 0 Trust capital securities 0 13,000 Stockholders' equity 51,006 46,762 + 9 % Capital: Stockholders' equity to total assets 4.30 % 5.53 % Leverage Ratio 5.80 6.98 Risk based capital ratios: Tier 1 8.72 10.80 Total Capital 9.63 11.85 Performance Ratios: Cost of funds 1.19 % 1.54 % 1.19 % 1.64 % Deposit Cost of Funds 0.91 1.36 0.92 1.46 Net interest margin 4.35 4.29 4.38 4.22 Return on average assets 0.76 0.80 0.74 0.81 Return on average total stockholders' equity 17.14 14.48 15.99 14.83 Asset Quality: Net charge-offs to average loans outstanding 0.04 % 0.08 % Nonperforming loans to total period-end loans 0.14 0.43 Nonperforming assets to total period-end assets 0.11 0.24 Allowance for loan losses to total period-end loans 1.18 1.39 Allowance for loan losses to nonperforming loans 855 % 325 %