February 1, 2012
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Date of Report
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(Date of earliest event reported)
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MSB Financial Corp.
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(Exact name of Registrant as specified in its Charter)
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United States
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001-33246
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34-1981437
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||
(State or other jurisdiction
of incorporation)
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(SEC Commission
File No.)
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(IRS Employer
Identification Number)
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1902 Long Hill Road, Millington, New Jersey
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07946-0417
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code:
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(908) 647-4000
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Not Applicable
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(Former name or former address, if changed since last Report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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[ ]
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Written communications pursuant to Rule 425 under the Securities Act
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[ ]
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act
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[ ]
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
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[ ]
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
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Item 2.02
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Results of Operations and Financial Condition
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Item 9.01
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Financial Statements and Exhibits
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Exhibit
Number
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Description
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||
99
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Press Release dated February 1, 2012
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MSB FINANCIAL CORP.
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|||
By:
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/s/Michael A. Shriner
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Date: February 1, 2012
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Michael A. Shriner
President and Chief Executive Officer
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CONTACT:
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MSB Financial Corp.
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Michael Shriner, President-CEO
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908-647-4000
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mshriner@millingtonsb.com
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Balance Sheet Data:
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||||||
(Unaudited)
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||||||
At December 31, | At June 30, | |||||
2011
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2011
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|||||
Total assets
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$350,356
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$349,459
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||||
Cash and cash equivalents
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18,518
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30,976
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||||
Loans receivable, net
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244,684
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253,251
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||||
Securities held to maturity
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64,276
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41,693
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||||
Deposits
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287,090
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286,175
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||||
Federal Home Loan Bank advances
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20,000
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20,000
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||||
Total stockholders' equity
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40,759
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40,680
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||||
Summary of Operations:
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||||||||||
(Unaudited) | (Unaudited) | |||||||||
For the Six
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For the Three
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|||||||||
Months Ended
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Months Ended | |||||||||
December 31, | December 31, | December 31, | December 31, | |||||||
2011
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2010
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2011
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2010
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|||||||
Total interest income
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$7,160
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$7,729
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$3,549
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$3,826
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||||||
Total interest expense
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1,795
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2,265
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882
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1,079
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||||||
Net interest income
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5,365
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5,464
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2,667
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2,747
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||||||
Provision for loan losses
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988
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825
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375
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350
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||||||
Net interest income after provision
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||||||||||
for loan losses
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4,377
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4,639
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2,292
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2,397
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||||||
Noninterest income
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317
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446
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173
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189
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||||||
Noninterest expense
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4,119
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4,520
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2,059
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2,367
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||||||
Income before taxes
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575
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565
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406
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219
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||||||
Income tax provision
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240
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230
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182
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99
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||||||
Net income
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$335
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$335
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$224
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$120
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||||||
Net income per common share:
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||||||||||
basic and diluted
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$0.07
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$0.07
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$0.04
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$0.02
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||||||
Weighted average number of shares of common stock
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5,027,968
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5,041,046
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5,015,095
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5,042,224
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||||||
outstanding
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Performance Ratios:
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|||||||||||
(Unaudited)
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(Unaudited)
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||||||||||
For the Six
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For the Three
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||||||||||
Months Ended | Months Ended | ||||||||||
December 31, | December 31, | December 31, | December 31, | ||||||||
2011
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2010
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2011
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2010
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||||||||
Return on average assets (ratio of net income
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|||||||||||
to average total assets)
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0.13
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% |
0.13
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% |
0.26
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% |
0.14
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% | |||
Return on average equity (ratio of net income
|
|
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|||||||||
to average equity)
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1.09
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1.11
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2.19
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1.19
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|||||||
Net interest rate spread
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3.28
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3.31
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3.26
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3.34
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|||||||
Net interest margin on average interest-earning
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|||||||||||
assets
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3.38
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3.41
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3.36
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3.45
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|||||||
Average interest-earning assets to average
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|||||||||||
interest-bearing liabilities
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108.83
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106.69
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108.90
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107.48
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|||||||
Operating expense ratio (noninterest expenses
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|||||||||||
to average total assets)
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1.57
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1.69
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2.35
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2.69
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|||||||
Efficiency ratio (noninterest expense divided by
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|||||||||||
sum of net interest income and noninterest income)
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72.49
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76.48
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72.50
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80.62
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|||||||
(Unaudited) | |||||||
At or For the
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|||||||
Six Months Ended,
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|||||||
December 31, | December 31, | ||||||
2011
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2010
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||||||
Asset Quality Ratios: | |||||||
Non-performing loans to total loans
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6.28
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% |
6.13
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% | |||
Non-performing assets to total assets
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4.49
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5.10
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|||||
Net charge-offs to average loans outstanding
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0.20
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0.10
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|||||
Allowance for loan losses to non-performing loans
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16.93
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18.97
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|||||
Allowance for loan losses to total loans
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1.06
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1.16
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|||||
Capital Ratios: | |||||||
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|||||||
Equity to total assets at end of period
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11.63
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% |
11.50
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% | |||
Average equity to average assets
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11.69
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11.34
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|||||
Number of Offices
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5
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5
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