-----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, RX+IlWW/NBTVHa++lPptvKPcg/WQ+ZbxdEY9LFiYEaY2SjXTnMW7/D5WiCUiEC0t c9VfvkaYXHrFSJFGCw2CVQ== 0000352801-95-000007.txt : 19951119 0000352801-95-000007.hdr.sgml : 19951119 ACCESSION NUMBER: 0000352801-95-000007 CONFORMED SUBMISSION TYPE: 10QSB/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950331 FILED AS OF DATE: 19951113 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN BANCSHARES OF HOUMA INC CENTRAL INDEX KEY: 0000352801 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 720695017 STATE OF INCORPORATION: LA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10QSB/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-10241 FILM NUMBER: 95589497 BUSINESS ADDRESS: STREET 1: 801 BARROW ST CITY: HOUMA STATE: LA ZIP: 70360 BUSINESS PHONE: 5048721434 MAIL ADDRESS: STREET 1: P O BOX 110 CITY: HOUMA STATE: LA ZIP: 70360-0110 10QSB/A 1 U. S. Securities and Exchange Commission Washington, D.C. 20549 Form 10-QSB/A (Mark One) [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31,_1995 [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period from __________ to __________ Commission file number 0-10241 AMERICAN_BANCSHARES_OF_HOUMA,_INC. (Exact name of registrant as specified in its charter) LOUISIANA 72-0695017 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 801_Barrow_Street,_Houma,_Louisiana 70360 (Address of principal executive offices) Issuer's telephone number: (504)_872-1434 Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes _X_. No ___. The number of shares of common stock, $3.00 par value, outstanding as of March 31, 1995, was 229,564. Transitional Small Business Disclosure Format (check one): Yes ___. No _X_. TABLE OF CONTENTS PART I--FINANCIAL INFORMATION Item 1. Financial Statements. Consolidated Statements of Condition - March 31, 1995 and December 31, 1994................................ Consolidated Statements of Income - Periods Ended March 31, 1995 and 1994............................... Consolidated Statements of Changes in Stockholders' Equity - Periods Ended March 31, 1995 and 1994............................... Consolidated Statements of Cash Flows - Periods Ended March 31, 1995 and 1994............................... Notes to Consolidated Financial Statements............................ Item 2. Management's Discussion and Analysis........................... PART II--OTHER INFORMATION Item 1. Legal Proceedings.............................................. Item 6. Exhibits and Reports on Form 8-K............................... SIGNATURES................................................................ AMERICAN BANCSHARES OF HOUMA, INC. Consolidated Statements of Condition March 31, 1995 and December 31, 1994 Thousands of Dollars Unaudited
Mar. 31, Dec. 31, __1995__ __1994__ ASSETS Cash and due from banks.......................................... $ 5,180 $ 4,667 Federal funds sold............................................... __2,100 __5,700 Total cash and cash equivalents....................... 7,280 10,367 Investment securities: Available-for-sale securities at fair value (amortized cost of $13,881 and $9,885 in 1995 and 1994, respectively)........ 13,805 9,608 Held-to-maturity securities at amortized cost (fair value of $8,093 and $8,042 in 1995 and 1994, respectively)............ __8,235 __8,380 Total investment securities........................... 22,040 17,988 Loans............................................................ 50,978 51,652 Less: Unearned income......................................... (160) (161) Allowance for loan losses............................... _(1,081) _(1,133) Loans, net............................................ 49,737 50,358 Premises and equipment........................................... 1,957 1,970 Real estate acquired by foreclosure.............................. 324 335 Other assets..................................................... __1,269 __1,329 Total assets........................................ $ 82,607 $ 82,347 ======= ======= LIABILITIES AND STOCKHOLDERS' EQUITY Deposits (Note 2): Noninterest-bearing............................................ $ 15,726 $ 16,372 Interest-bearing............................................... _58,381 _57,889 Total deposits........................................ 74,107 74,261 Federal funds purchased and securities sold under repurchase agreements.......................................... 77 168 Other liabilities................................................ ____539 ____394 Total liabilities..................................... _74,723 _74,823 Stockholders' equity: Common stock ($3.00 par value; 1,000,000 shares authorized; 258,737 shares issued)........................... 776 776 Paid-in capital................................................ 4,263 4,263 Retained earnings.............................................. 3,829 3,602 Net unrealized gains (losses) on available-for-sale securities. (50) (183) Treasury stock (Cost of 29,173 shares)......................... ___(934) __(934) Total stockholders' equity............................ __7,884 __7,524 Total liabilities and stockholders' equity.......... $ 82,607 $ 82,347 ======= ======= See notes to consolidated financial statements.
AMERICAN BANCSHARES OF HOUMA, INC. Consolidated Statements of Income Periods Ended March 31, 1995 and 1994 Thousands of Dollars Except for Per Share Data Unaudited
Three_Months_Ended Mar. 31, Mar. 31, Interest income: __1995__ __1994__ Interest and fees on loans......................... $ 1,107 $ 842 Taxable securities income.......................... 307 386 Nontaxable securities income....................... 17 3 Interest on federal funds sold..................... _____36 _____22 Total interest income.......................... __1,467 __1,253 Interest expense: Interest on deposits (Note 2)...................... 566 381 Interest on federal funds purchased and securities sold under repurchase agreements...... ______2 ______1 Total interest expense......................... ____568 ____382 Net interest income................................ 899 871 Provisions for loan losses......................... ____--- ______5 Net interest income after provisions for loan losses 899 866 Noninterest income, excluding investment securities gains and losses (Note 3)............. 299 337 Investment securities gains (losses)............... (1) --- Noninterest expense (Note 4)....................... ____882 ____747 Earnings before income taxes....................... 315 456 Provision for income taxes......................... _____88 ____151 Net earnings....................................... $ 227 $ 305 ======= ======= PER SHARE DATA: Net earnings....................................... $ 0.99 $ 1.33 ======= ======= Average common shares outstanding.................. 229,564 229,564 ======= ======= See notes to consolidated financial statements.
AMERICAN BANCSHARES OF HOUMA, INC. Consolidated Statements of Changes in Stockholders' Equity Three Months Ended March 31, 1995 and 1994 Thousands of Dollars Unaudited
Net unreal- ized Gains (Losses) on Available- Common Paid-in Retained Treasury for-Sale Stock_ Capital Earnings _Stock__ Securities_ Total Balance at December 31, 1993.. $ 776 4,263 2,818 (934) 292 7,215 Net earnings.................. --- --- 305 --- --- 305 Change in net unrealized gains or losses on available-for- sale securities............. __--- __--- __--- __--- _(207) _(207) Balance at March 31, 1994..... $ 776 4,263 3,123 (934) 85 7,313 ===== ===== ===== ===== ===== ===== Balance at December 31, 1994.. $ 776 4,263 3,602 (934) (183) 7,524 Net earnings.................. --- --- 227 --- --- 227 Change in net unrealized gains or losses on available-for- sale securities............. __--- __--- __--- __--- __133 __133 Balance at March 31, 1995..... $ 776 4,263 3,829 (934) (50) 7,884 ===== ===== ===== ===== ===== ===== See notes to consolidated financial statements.
AMERICAN BANCSHARES OF HOUMA, INC. Consolidated Statements of Cash Flows Three Months Ended March 31, 1995 and 1994 Thousands of Dollars Unaudited
Three_Months_Ended Mar. 31, Mar. 31, __1995__ __1994__ Cash flows from operating activities: Interest received....................................... $ 1,499 $ 1,130 Fees and commissions received........................... 334 376 Interest paid........................................... (525) (384) Other expenses paid..................................... (861) (773) Income taxes paid....................................... ___(14) ___(27) Net cash provided by operating activities............. ___433 ___322 Cash flows from investing activities: Proceeds from sales of available-for-sale securities.... 999 --- Proceeds from paydowns and maturities of available-for-sale securities...................... 1,031 373 Purchases of available-for-sale securities.............. (6,042) (504) Proceeds from paydowns and maturities of held-to-maturity securities........................ 139 161 Purchases of held-to-maturity securities................ --- (1,219) Loan originations, net of repayments.................... 591 (2,657) Capital expenditures.................................... (32) (32) Proceeds from sales of foreclosed assets................ 30 26 Net decrease (increase) in other assets................. _____9 _____6 Net cash provided by (used in) investment activities.. (3,275) (3,846) Cash flows from financing activities: Net increase (decrease) in deposits..................... (154) 3,964 Net increase (decrease) in securities sold under repurchase agreements........................... (91) (42) Net increase (decrease) in other liabilities............ ___--- _____8 Net cash provided by (used in) financing activities... __(245) _3,930 Net increase (decrease) in cash and cash equivalents...... (3,087) 406 Cash and cash equivalents at beginning of period.......... 10,367 _7,034 Cash and cash equivalents at end of period................ $ 7,280 $ 7,440 ====== ====== (continued) See notes to consolidated financial statements.
AMERICAN BANCSHARES OF HOUMA, INC. Consolidated Statements of Cash Flows Three Months Ended March 31, 1995 and 1994 Thousands of Dollars Unaudited
Three_Months_Ended Mar. 31, Mar. 31, __1995__ __1994__ Reconciliation of net income to net cash provided by operating activities: Net earnings.............................................. $ ___227 $ ___305 Adjustments to reconcile net income to net cash provided by operating activities: Provisions for loan losses............................ --- 5 Investment securities losses.......................... 1 --- Depreciation and amortization of premises and equipment....................................... 46 39 Write-downs of foreclosed assets...................... 11 23 Losses (gains) on sales of foreclosed assets.......... 4 (59) Decrease (increase) in interest receivable............ 12 (147) Amortization of goodwill.............................. 3 3 Amortization of premiums and (accretion of discounts) on investment securities............................ 20 18 Decrease (increase) in prepaid expenses............... (24) (30) Increase (decrease) in accrued expenses............... 2 22 Increase (decrease) in interest payable............... 44 (2) Increase (decrease) in current income taxes payable... 85 (26) Decrease (increase) in net deferred tax asset......... (11) 151 Net increase (decrease) in deferred loan fees and other unearned income........................... ____13 ____20 Total adjustments................................. ___206 ____17 Net cash provided by operating activities................. $ 433 $ 322 ====== ====== Supplemental schedule of noncash investing activities: Assets acquired through foreclosure of loans............ $ 55 $ 8 ====== ====== Loans made to finance sales of foreclosed assets........ $ 25 $ 54 ====== ====== See notes to consolidated financial statements.
AMERICAN BANCSHARES OF HOUMA, INC. Notes to Consolidated Financial Statements March 31, 1995 and 1994 Unaudited (1) Summary of Significant Accounting Policies The Company adopted Statement of Financial Accounting Standards (FAS) NO. 114, "Accounting for Loan Impairment by Creditors," effective January 1, 1995. This statement requires the measurement of impaired loans to be based on the present value of expected future cash flows discounted at the loan's effective interest rate, or at the loan's observable market price or the fair value of its collateral. The statement does not apply to large groups of smaller balance homogeneous loans that are collectively evaluated for impairment. For the Company, loans collectively evaluated for impairment include all single family mortgage loans, loans to individuals for household, family and other consumer expenditures, and performing multi-family and commercial and industrial real estate loans ("major loans") under a certain dollar amount, excluding loans which have entered the workout process. The Company considers a loan to be impaired when, based upon current information and events, it believes it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Within the scope of FAS 114, impaired loans include troubled debt restructurings and performing and nonperforming major loans in which full payment of principal and interest is not expected. The Company also adopted FAS 118, "Accounting by Creditors for Impairment of a Loan - Income Recognition and Disclosures," effective January 1, 1995. This statement allows a creditor to use existing methods for recognizing interest income on impaired loans. FAS 114 provides that troubled debt restructurings completed before the adoption of the statement do not have to be treated as impaired if they are not impaired in relation to their restructured terms. Such loans may continue to be accounted for in accordance with the provisions of FAS 15 prior to its amendment by FAS 114. Upon adoption of the statement, the Company's restructured debt totaled $1,040,479. These loans are not considered impaired in relation to their restructured terms and continue to be accounted for in accordance with the provisions of FAS 15. The Company had no impaired loans during the quarter ending March 31, 1995. The adoption of these statements resulted in no additional provisions for loan losses or changes in the amount of interest income reported. No other significant changes in accounting policies have occurred since the filing of the Form 10-KSB report on March 30, 1995, for the fiscal year ended December 31, 1994. Certain reclassifications have been made to conform to the 1995 presentation of financial information. (2) Deposits Included in interest-bearing deposits are certificates of deposit of $100,000 or more, which totaled $8,504,718 at March 31, 1995, and $7,411,193 at December 31, 1994. Interest expense on certificates of deposit of $100,000 or more totaled $102,691 and $46,032 for the three months ended March 31, 1995 and 1994, respectively. (3) Noninterest Income Details of noninterest income, excluding investment securities gains and losses, are as follows:
Three_Months_Ended_Mar._31, __1995__ __1994__ (Thousands of Dollars) Service charges on deposit accounts.... $ 222 $ 203 Secondary market loan origination fees.. 15 52 Other loan fee income................... 8 23 Other................................... ______54 ______59 $ 299 $ 337 ======== ========
(4) Noninterest Expense Details of noninterest expense are as follows:
Three_Months_Ended_Mar._31, __1995__ __1994__ (Thousands of Dollars) Salaries and employee benefits.......... $ 425 $ 382 Net occupancy expense of premises....... 97 99 Equipment expense....................... 61 56 FDIC and state assessments.............. 44 40 Stationery, printing and supplies....... 28 32 Data processing......................... 34 35 Directors' fees......................... 44 19 Legal and professional fees............. 26 11 Postage................................. 18 22 Telephone expense....................... 16 16 Net foreclosed assets expense (income).. 6 (40) Other................................... ______83 ______75 $ 882 $ 747 ======== ========
AMERICAN BANCSHARES OF HOUMA. INC. Management's Discussion and Analysis American Bancshares of Houma, Inc. (the Company) is a one-bank holding company whose primary asset is the 100% ownership of American Bank and Trust Company of Houma (the Bank) domiciled in Houma, Louisiana. Overview The Company's first quarter earnings for 1995 totaled $227,000, providing a 1.13% return on average assets and an 11.97% return on average equity. Net earnings decreased by $78,000 from the first quarter of 1994 due primarily to reduced noninterest income and increased overhead expenses. After experiencing growth of 13% to 14% for the year 1994, total assets and deposits remained relatively stable during the first quarter of 1995. At March 31, 1995, nonaccrual loans totaled $207,000, restructured loans totaled $1,009,000, loans past due 90 days or more totaled $108,000, and foreclosed assets totaled $353,000. Overall, total nonperforming assets increased by $208,000 or 14.2% since December 31, 1994, primarily due to an increase in nonperforming indirect automobile loans. During 1994, the Bank increased its portfolio of indirect automobile loans significantly by offering financing through several local dealers. Management monitors the portfolio closely and has stepped up collection efforts to minimize delinquencies and potential losses. Net_Interest_Income Year-to-date net interest income increased by $28,000 over the same period in 1994 due to the 10.6% increase in average interest earning assets. The Bank's year-to-date net interest margin, on a taxable equivalent basis, decreased to 4.94% from 5.26% due primarily to the increased cost of funds resulting from higher interest rates and an increase in certificates of deposit which pay higher rates than other deposit products. The increase in income due to higher loan volume more than offset the decrease due to reduced margin. Detailed analysis of the components of and changes in net interest income on a taxable equivalent basis is provided in the "Summary of Average Balance Sheets, Interest, and Interest Rates" and "Comparative Changes in Interest Income and Expense" tables that follow this discussion. Allowance_and_Provisions_for_Loan_Losses No provisions for loan losses were made during the first quarter of 1995, as the $1,081,000 allowance (representing 2.1% of the portfolio) is deemed to be adequate by Bank management. During the first quarter of 1994, provisions for loan losses totaled $5,000. The Bank recorded year- to-date net charge-offs of $52,000 in 1995 compared to net recoveries of $13,000 for the same period in 1994. Noninterest_Income Year-to-date noninterest income decreased by $38,000 or 11.3% due primarily to a decrease in secondary market mortgage loan origination fees. The volume of mortgage loans originated for sale in the secondary market decreased substantially due to higher mortgage interest rates. Details of other noninterest income are provided in note 3 to the consolidated financial statements. Noninterest_Expense Year-to-date total overhead expenses increased by $135,000 or 18.1% over the same period in 1994. Salaries and employee benefits increased $43,000 due primarily to merit increases, bonuses and accruals for retirement plan contributions. Directors' fees increased by $25,000 due to an increased fee schedule and additional committee meetings. Legal and professional fees increased $15,000 primarily due to additional consulting services and increased loan collection expenses. The Bank recognized net losses on foreclosed assets of $6,000 during the first quarter of 1995 compared to net gains of $40,000 for the same period in 1994. Gains recognized on the sales of certain foreclosed properties during the first quarter of 1994 resulted in net gains in that period. Additional information on other expenses is provided in note 4 to the consolidated financial statements. Liquidity The Bank's liquidity ratio, which is a measure of net cash, short-term and marketable assets as a percent of net deposits and short-term liabilities, equaled 29.5% at March 31, 1995, compared to 26.7% at December 31, 1994. Management strives to maintain a minimum liquidity ratio of 25%. Total loans, net of unearned discounts, represented 68.6% of total deposits at March 31, 1995, compared to 69.3% at December 31, 1994. Federal funds sold and investments in short-term, high quality U. S. Government and U. S. Government Agency securities provide a source of ongoing liquidity for the Bank. The investment portfolio is structured to provide a ladder of maturities to ensure that funds will be available when needed. Also, a significant portion of the investment portfolio is classified as available- for-sale in accordance with Statement of Financial Accounting Standards No. 115. While the Bank has the intent to hold these securities indefinitely, they are available for disposal and may be sold for liquidity as well as other reasons. The Bank also has the ability to purchase federal funds from correspondent banks and to pledge securities for other borrowings if necessary to satisfy temporary liquidity needs. Management believes that these factors place the Bank in a sound liquidity position. Capital_Adequacy_&_Dividends Regulatory capital guidelines set forth minimum ratios of total capital to total "risk-weighted" assets of 8.0%, "Tier 1" capital to total "risk-weighted" assets of 4.0%, and a leverage ratio ("Tier 1" capital to total assets) of 4%. Because the Company has total consolidated assets of less than $150 million and meets certain other conditions, the guidelines are applied on a bank-only basis. For the Bank, "Tier 1" capital consists of its shareholders' equity, excluding net unrealized market gains or losses on available-for-sale securities. Total capital consists of "Tier 1" capital plus an allowable portion of the allowance for loan losses. At March 31, 1995, the Bank's total capital to total "risk-weighted" assets ratio equaled 17.80%, its "Tier 1" capital to total "risk-weighted" assets ratio equaled 16.54%, and its leverage ratio equaled 9.34%. No dividends were declared during the first quarters of 1995 and 1994. Regulatory_Matters On February 8, 1994, the Bank entered into a Memorandum of Understanding (MOU) with the Federal Deposit Insurance Corporation (FDIC) regarding regulatory compliance issues. The MOU resulted from a compliance examination of the Bank conducted by the FDIC on October 1, 1993, in which several violations of federal regulations were noted, primarily record- keeping and disclosure violations. The MOU requires the bank to improve its compliance program to insure adequate management supervision, training, and review procedures to insure compliance with federal record-keeping and disclosure requirements. The MOU originally required the Bank to make quarterly progress reports to the FDIC. Based on progress reports made, the FDIC removed the quarterly reporting requirement on April 17, 1995. While the MOU must remain in effect until the next compliance examination of the Bank, management believes it has taken the necessary steps to insure future compliance. AMERICAN BANCSHARES OF HOUMA, INC. Summary of Average Balance Sheets, Interest, and Interest Rates Three Months Ended March 31, 1995 and 1994 Tax Equivalent Basis, Thousands of Dollars Unaudited
____________________Three_Months_Ended___________________ _______Mar._31,_1995_______ _______Mar._31,_1994_______ Average Average Average Average ASSETS Balance Interest _Rate__ Balance Interest _Rate__ INTEREST-EARNING ASSETS: Loans, net of unearned income* $51,221 ___1,107 8.76% $40,168 _____842 8.50% Investment securities: ** Taxable...................... 19,128 307 6.51 23,833 386 6.57 Nontaxable................... _1,442 ______24 6.75 ___235 _______4 6.90 Total investment securities. 20,570 331 6.53 24,068 390 6.57 Federal funds sold............ _2,519 ______36 5.80 _2,962 ______22 3.01 Total interest-earning assets 74,310 ___1,474 8.04 67,198 ___1,254 7.57 NONINTEREST-EARNING ASSETS AND ALLOWANCE FOR LOAN LOSSES: Cash and due from banks....... 4,556 4,390 Bank premises and equipment... 1,973 1,851 Other assets.................. 1,436 1,966 Allowance for loan losses..... (1,125) (1,164) Total assets................ $81,150 $74,241 ====== ====== LIABILITIES_AND STOCKHOLDERS'_EQUITY INTEREST-BEARING LIABILITIES: NOW accounts.................. $10,144 60 2.40 $ 9,931 47 1.92 Money market accounts......... 7,714 56 2.94 8,528 54 2.57 Savings deposits.............. 9,376 69 2.98 9,634 64 2.69 Time deposits................. 30,106 ____381 5.13 23,165 _____216 3.78 Total interest-bearing deposits................... 57,340 566 4.00 51,258 381 3.01 Short-term borrowings......... ___118 ______2 6.87 ____48 _______1 8.45 Total interest-bearing liabilities................ 57,458 ____568 4.01 51,306 _____382 3.02 NONINTEREST-BEARING LIABILITIES AND STOCKHOLDERS' EQUITY: Noninterest-bearing deposits.. 15,471 15,189 Other liabilities............. 429 380 Stockholders' equity.......... _7,692 _7,366 Total liabilities and stockholders' equity....... $81,150 $74,241 ====== ====== Net interest earned on total interest-earning assets...... $74,310 906 4.94% $67,198 872 5.26% ====== ======= ====== ======= *Nonaccruing loan balances are included in loans for purposes of this analysis. **Investment securities are shown at amortized cost, with net market gains or losses on available-for-sale securities included in other assets.
AMERICAN BANCSHARES OF HOUMA, INC. Comparative Changes in Interest Income and Expense For the Three Months Ended March 31, 1995 and 1994 Tax Equivalent Basis, Thousands of Dollars Thousands of Dollars Unaudited
1995 Compared to 1994 1994 Compared to 1993 Increase_(Decrease)_Due_To Increase_(Decrease)_Due_To Change Change Change Change in in in in Volume _Rate_ Total Volume _Rate_ Total INTEREST_INCOME Loans........................ $__238 ____27 __265 $__125 ___(56) ___69 Investment securities: Taxable..................... (76) (3) (79) (91) (28) (119) Nontaxable.................. ___20 ___--- ___20 ____2 ___--- ____2 Total investments.......... (56) (3) (59) (89) (28) (117) Federal funds sold........... ___(4) ____18 ___14 ___14 ___--- ___14 Total interest income...... __178 ____42 __220 ___50 ___(84) __(34) INTEREST_EXPENSE Interest-bearing deposits: NOW accounts................ 1 12 13 2 (4) (2) Money market accounts....... (5) 7 2 (9) (1) (10) Savings deposits............ (2) 7 5 (1) (7) (8) Time deposits............... ___75 ____90 __165 ___(4) ____(2) ___(6) Total interest-bearing deposits.................. 69 116 185 (12) (14) (26) Short-term borrowings....... ____1 ___--- ____1 ___(2) _____1 ____(1) Total interest expense..... ___70 ___116 __186 __(14) ___(13) ___(27) Net interest income........ $ 108 (74) 34 $ 64 (71) (7) ===== ====== ===== ===== ====== ====== NOTE: The change in interest due to both volume and rate has been allocated to change due to volume and change due to rate in proportion to the relationship of the absolute dollar amounts of change in each.
PART II - OTHER INFORMATION Item_1._Legal_Proceedings. As disclosed in the 1994 Annual Report on Form 10-KSB filed on March 30, 1995, regarding the suit of Alfred P. Cenac, Jr., et al., the court dismissed, with prejudice, all actions against the Bank and the other defendants on March 23, 1995. The plaintiffs' subsequent request for a new trial was denied, and the plaintiffs have filed an appeal. No other material developments have occurred in the legal proceedings previously disclosed in the 1994 Annual Report on Form 10-KSB. Item_6._Exhibits_and_Reports_on_Form_8-K. During the quarter ended March 31, 1995, no reports on Form 8-K have been filed. SIGNATURES In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. American_Bancshares_of_Houma,_Inc. (Registrant) Date: November_10,_1995 /s/_Robert_W._Boquet______________ Robert W. Boquet President and C.E.O. Principal Financial Officer EX-27 2
9 1,000 3-MOS DEC-31-1995 JAN-01-1995 MAR-31-1995 5180 0 2100 0 13805 8235 8093 50978 1081 82607 74107 77 539 0 776 0 0 7108 82607 1107 324 36 1467 566 568 899 0 (1) 882 315 227 0 0 227 0.99 0 4.94 207 108 1009 0 1133 64 12 1081 727 0 354
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