-----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, RvcarxapNNjX1K2tE3tP9zkgQezNs6bwt9TaOWQLsYCNR2ejTPZ2crh5h9DP9oHQ 7pi7e0F1UBf5OnzyVowQkQ== 0001019056-03-000193.txt : 20030220 0001019056-03-000193.hdr.sgml : 20030220 20030220080953 ACCESSION NUMBER: 0001019056-03-000193 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030218 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030220 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FNB BANCORP/CA/ CENTRAL INDEX KEY: 0001163199 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 922115369 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-49693 FILM NUMBER: 03573607 BUSINESS ADDRESS: STREET 1: 975 EL CAMINO REAL 3RD FL STREET 2: C/O FIRST NATIONAL BANK CITY: S. SAN FRANCISCO STATE: CA ZIP: 94080 BUSINESS PHONE: 6505886800 MAIL ADDRESS: STREET 1: 975 EL CAMINO REAL 3RD FL STREET 2: C/O FIRST NATIONAL BANK CITY: S. SAN FRANCISCO STATE: CA ZIP: 94080 8-K 1 fnb_8k.txt FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) February 18, 2003 ----------------- FNB BANCORP ------------------------------------------------------ (Exact name of registrant as specified in its charter) California ---------------------------------------------- (State or other jurisdiction of incorporation) 000-49693 92-2115369 - ------------------------ --------------------------------- (Commission File Number) (IRS Employer Identification No.) 975 El Camino Real, South San Francisco, California 94080 - --------------------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (650) 588-6800 Item 5. Other Events and Regulation FD Disclosure On February 18, 2003, the registrant announced its earnings for the fourth quarter of 2002 and for the year ended December 31, 2002. A copy of the February 18, 2003, news release reporting the fourth quarter and year-end results for 2002 is attached to this report as Exhibit 99.11 and is incorporated here by reference. Item 7. Exhibits 99.11 News release of FNB Bancorp dated February 18, 2003, announcing its 2002 fourth quarter and year-end results. SIGNATURES 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 hereunto duly authorized. FNB BANCORP (Registrant) Dated: February 19, 2003. By: /s/ JAMES B. RAMSEY ------------------------------------- James B. Ramsey Senior Vice President and Chief Financial Officer 2 EX-99 3 ex99_11.txt EXHIBIT 99.11 Exhibit 99.11 ------------- NEWS RELEASE ------------ For Immediate Release Contact: James B. Ramsey 650-875-4862 FNB BANCORP FOURTH QUARTER AND YEAR END 2002 EARNINGS ----------------------------------------------------- FNB BANCORP (Bulletin Board FNBG) Announces Fourth Quarter and Year End 2002 Earnings. South San Francisco, California. February 18, 2003. Thomas C. Mc Graw, Chief Executive Officer of FNB Bancorp and its subsidiary, First National Bank of Northern California, announced consolidated earnings for the fourth quarter and the year ended December 31, 2002. Net income for the year ended December 31, 2002 was $4,814,000 or $2.06 diluted earnings per share, compared to $5,237,000 or $2.36 diluted earnings per share for the year ended December 31, 2001. Earnings for the year 2002 represent a return on average assets (ROA) of 1.17% and a return on average equity (ROE) of 9.87%, compared to an ROA of 1.30% and an ROE of 11.43% for the year 2001. Fourth quarter income for 2002 was $1,673,000 or $0.71 diluted earnings per share compared to fourth quarter income for 2001 of $738,000 or $0.33 diluted earnings per share. Earnings for the fourth quarter of 2002 represent a return on average assets (ROA) of 1.63% and a return on average equity (ROE) of 13.52%, compared to a 0.73% ROA and a 6.17% ROE for the fourth quarter of 2001. Total assets at December 31, 2002 were $401,834,000, compared to total assets of $397,388,000 at December 31, 2001. Additional details are available in the following summary of Consolidated Financial Results for the fourth quarter and years ended December 31, 2002 and 2001. 3
Consolidated Financial Results Quarter ended Year ended In thousands except share & per share amounts December 31, December 31, 2002 2001 2002 2001 ------- ------- ------- ------- Interest income $ 6,560 $ 6,745 $26,159 $30,844 Interest expense 888 1,459 4,288 7,935 ------- ------- ------- ------- Net interest income 5,672 5,286 21,871 22,909 Provision for loan losses -- 75 150 300 ------- ------- ------- ------- Net interest income after provision for loan losses 5,672 5,211 21,721 22,609 Non interest income 927 698 3,308 3,007 Non interest expenses 4,517 4,821 18,705 17,911 ------- ------- ------- ------- Income before income taxes 2,082 1,088 6,324 7,705 Provision for income taxes 409 350 1,510 2,468 ------- ------- ------- ------- Net earnings $ 1,673 $ 738 $ 4,814 $ 5,237 ======= ======= ======= ======= Basic Earnings Per Share $ 0.71 $ 0.34 $ 2.07 $ 2.37 Diluted Earnings Per Share $ 0.71 $ 0.33 $ 2.06 $ 2.36 SELECTED PERFORMANCE RATIOS Return on average assets 1.63% 0.73% 1.17% 1.30% Return on average equity 13.52% 6.17% 9.87% 11.43% Net interest margin 6.05% 5.81% 5.83% 6.34% Common stock book value $ 22.06 $ 20.06 $ 22.06 $ 20.06
SUMMARY BALANCE SHEET In thousands December 31, December 31, 2002 2001 -------- -------- Assets: Cash and cash equivalents $ 20,199 $ 22,493 Investments 75,963 65,311 Loans, gross 288,285 291,610 Allowance for loan losses -3,396 -3,543 Other assets 20,783 21,517 -------- -------- Total Assets $401,834 $397,388 ======== ======== Deposits $347,406 $344,079 Federal funds purchased -- 2,100 Other liabilities 3,225 4,686 -------- -------- Total liabilities $350,631 $350,865 Shareholders' equity 51,203 46,523 -------- -------- Total liabilities and shareholders' equity $401,834 $397,388 ======== ======== - ------------------ Contact: FNB Bancorp James B. Ramsey Senior Vice President & Chief Financial Officer Tel: (650) 875-4862 4 -----END PRIVACY-ENHANCED MESSAGE-----