-----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, QNWlsZ/DfSp7DUbF+aQJasPAj2rdDvRYJhxmuPIeuN5K2tGVmDFABq1wRbnKDE5u w/q5d7kCVxs+5VOnHNmk4A== 0000742170-97-000030.txt : 19971029 0000742170-97-000030.hdr.sgml : 19971029 ACCESSION NUMBER: 0000742170-97-000030 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970930 FILED AS OF DATE: 19971028 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMMUNITY BANCORP INC /MA/ CENTRAL INDEX KEY: 0000742170 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 042841993 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 033-12756-B FILM NUMBER: 97701835 BUSINESS ADDRESS: STREET 1: 17 POPE ST CITY: HUDSON STATE: MA ZIP: 01749 BUSINESS PHONE: 5085688321 MAIL ADDRESS: STREET 1: 17 POPE STREET CITY: HUDSON STATE: MA ZIP: 01749 10-Q 1 FORM 10-Q FOR 09-30-97 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTER ENDED SEPTEMBER 30, 1997 Commission File No. 33-12756-B COMMUNITY BANCORP, INC. A Massachusetts Corporation IRS Employer Identification No. 04-2841993 17 Pope Street, Hudson, Massachusetts 01749 Telephone - (978)568-8321 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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 ----- ----- Common Stock $2.50 par value 2,926,257 shares outstanding as of October 28, 1997 PART I - FINANCIAL INFORMATION ------------------------------ COMMUNITY BANCORP, INC. Item 1. CONSOLIDATED BALANCE SHEETS
September 30, December 31, 1997 1996 ----------- ----------- ASSETS Cash and due from banks $ 17,294,064 $ 14,391,567 Federal funds sold 11,000,000 11,300,000 Securities available for sale, at market 32,331,534 29,245,007 Securities held to maturity (market value $56,244,722 at 9/30/97 and $58,312,349 at 12/31/96) 56,078,927 58,828,881 Loans 142,474,340 131,570,430 Less allowance for possible loan losses 3,298,226 3,481,705 ----------- ----------- Total net loans 139,176,114 128,088,725 Premises and equipment, net 4,733,194 4,848,202 Other assets, net 3,464,320 3,300,076 ----------- ----------- Total assets $264,078,153 $250,002,458 =========== =========== LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Deposits Noninterest bearing $ 52,010,555 $ 51,358,151 Interest bearing 177,514,307 165,823,718 ----------- ----------- Total deposits 229,524,862 217,181,869 Federal funds purchased and securities sold under repurchase agreements 10,604,702 11,454,687 Other liabilities 1,899,025 1,524,768 ----------- ----------- Total liabilities 242,028,589 230,161,324 Stockholders' equity: Preferred stock, $2.50 par value, 100,000 shares authorized, none issued or outstanding Common stock, $2.50 par value, 12,000,000 shares authorized (4,000,000 shares authorized at December 31, 1996), 3,199,218 shares issued, 2,950,558 shares outstanding, (2,935,012 shares outstanding at December 31, 1996) 7,998,045 7,998,045 Surplus 414,120 374,580 Undivided profits 15,792,592 13,826,958 Treasury stock, at cost, 248,660 shares, (264,206 shares at December 31, 1996) (2,237,940) (2,348,419) Unrealized gains (losses) on securities available for sale, net 82,747 (10,030) ----------- ----------- Total stockholders' equity 22,049,564 19,841,134 ----------- ----------- Total liabilities and stockholders' equity $264,078,153 $250,002,458 =========== =========== See accompanying notes.
-2- COMMUNITY BANCORP, INC. CONSOLIDATED STATEMENTS OF INCOME
Three months ended Nine months ended September 30, September 30, -------------------- -------------------- 1997 1996 1997 1996 --------- --------- --------- --------- Interest income: Interest and fees on loans $3,398,535 $3,107,269 $9,750,798 $9,329,690 Interest and div. on securities: Taxable interest 1,286,068 1,154,114 3,895,732 3,336,199 Nontaxable interest 85,890 37,470 224,506 82,726 Dividends 15,183 13,654 43,915 40,191 Interest on federal funds sold 98,583 136,197 254,615 438,714 --------- --------- ---------- ---------- Total interest income 4,884,259 4,448,704 14,169,566 13,227,520 --------- --------- ---------- ---------- Interest expense: Deposits 1,541,319 1,431,519 4,507,856 4,361,959 Short term borrowings 186,332 145,585 549,895 386,417 --------- --------- --------- --------- Total interest expense 1,727,651 1,577,104 5,057,751 4,748,376 --------- --------- --------- --------- Net interest income 3,156,608 2,871,600 9,111,815 8,479,144 Provision for loan losses 0 0 0 0 --------- --------- --------- --------- Net interest income after provision for loan losses 3,156,608 2,871,600 9,111,815 8,479,144 --------- --------- --------- --------- Noninterest income: Merchant credit card assessments 244,933 209,754 737,525 611,136 Service charges 148,999 150,063 464,124 460,183 Other charges, commissions, fees 224,667 207,862 653,022 660,818 Gains on sales of loans, net 10,823 8,243 26,809 28,182 Gains on sales of securities, net 10,463 0 8,599 0 Other 19,039 20,241 60,262 53,378 --------- --------- --------- --------- Total noninterest income 658,924 596,163 1,950,341 1,813,697 --------- --------- --------- --------- Noninterest expense: Salaries and benefits 1,041,578 1,092,523 3,399,152 3,343,202 Data processing 143,251 157,857 434,871 449,126 Occupancy, net 153,029 148,483 428,152 438,049 Furniture and equipment 96,962 89,163 299,941 262,769 Credit card processing 223,687 176,904 629,233 507,048 Other 584,713 419,762 1,723,548 1,354,764 --------- --------- --------- --------- Total noninterest expense 2,243,220 2,084,692 6,914,897 6,354,958 --------- --------- --------- --------- Income before income taxes 1,572,312 1,383,071 4,147,529 3,937,883 Income taxes 588,693 543,113 1,563,067 1,541,115 --------- --------- --------- --------- Net income $ 983,619 $ 839,958 $2,584,192 $2,396,768 ========= ========= ========= ========= Earnings per share $ .333 $ .264 $ .878 $ .755 Dividends per share $ .072 $ .064 $ .210 $ .187 Weighted average number of shares 2,950,558 3,181,474 2,942,529 3,173,281 See accompanying notes.
-3- COMMUNITY BANCORP, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS
Nine months ended September 30, ------------------------- 1997 1996 ------------------------- Cash flows from operating activities: Interest received $14,036,058 $13,214,867 Fees and commissions received 1,945,323 1,762,474 Proceeds from secondary market mortgage sales 6,722,876 12,744,365 Origination of mortgage loans for secondary market sales (6,844,261) (11,733,586) Interest paid (5,093,011) (4,805,589) Cash paid to suppliers & employees (6,080,188) (5,927,232) Income taxes paid (1,489,803) (1,392,547) ---------- ---------- Net cash provided by operating activities 3,196,994 3,862,752 ---------- ---------- Cash flows from investing activities: Maturities and principal repayments of securities available for sale 4,309,414 4,566,287 Maturities and principal repayments of securities held to maturity 9,848,767 9,966,355 Proceeds from sales of securities available for sale 2,913,737 0 Proceeds from sales of securities held to maturity 2,000,000 0 Purchases of securities available for sale (10,068,750) (11,362,861) Purchases of securities held to maturity (9,180,014) (14,764,819) Net change in federal funds sold 300,000 12,100,000 Net change in loans and other real estate owned (11,000,216) (4,122,182) Proceeds from sale of other real estate owned 15,600 55,000 Acquisition of property, plant and equipment (476,233) (258,885) ---------- ---------- Net cash (used in) investing activities (11,337,695) (3,821,105) ---------- ---------- Cash flows from financing activities: Net change in deposits 12,342,993 4,448,398 Net change in federal funds purchased 0 (1,000,000) Net change in repurchase agreements (849,985) 4,141,346 Purchase of treasury stock 0 (2,318,985) Sale of treasury stock 150,019 236,137 Dividends paid (599,829) (580,180) ---------- ---------- Net cash provided by financing activities 11,043,198 4,926,716 ---------- ---------- Net increase in cash and due from banks 2,902,497 4,968,363 Cash and due from banks at beginning of period 14,391,567 12,668,446 ---------- ---------- Cash and due from banks at end of period $17,294,064 $17,636,809 ========== ========== See accompanying notes.
-4- COMMUNITY BANCORP, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS Reconciliation of Net Income to Net Cash Provided by Operating Activities
Nine months ended September 30, ------------------------- 1997 1996 ---------- ---------- Net income $ 2,584,192 $ 2,396,768 Adjustments to reconcile net income to net cash provided by operating activities: (Increase) decrease in mortgage loans held for sale (234,321) 763,423 Premium on sale of mortgages 112,935 247,356 Depreciation and amortization 591,241 631,316 Increase (decrease) in other liabilities 243,473 (237,747) Increase in taxes payable 73,264 148,568 (Decrease) in interest payable (35,260) (57,213) (Increase) in other assets (5,022) (17,654) (Increase) in interest receivable (133,508) (12,654) ---------- ---------- Total adjustments 612,802 1,465,984 ---------- ---------- Net cash provided by operating activities $ 3,196,994 $ 3,862,752 ========== ========== See accompanying notes.
-5- COMMUNITY BANCORP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS SEPTEMBER 30, 1997 ________________________________________________________________________ 1. BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The results of operations for any interim period are not necessarily indicative of results expected for the full year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company's Annual Report to shareholders and Form 10-K for the year ended December 31, 1996. 2. EARNINGS PER SHARE (EPS) In February 1997, Financial Accounting Standards Board Statement No. 128, "Earnings Per Share" (SFAS No. 128) was issued. The Statement is effective for both interim and annual periods ending after December 15, 1997, and it replaces the presentation of "primary" EPS with a presentation of "basic" EPS. Basic EPS excludes dilution and is computed by dividing income available to holders of common stock by the weighted-average number of common shares outstanding during the period. The Statement also requires the presentation of diluted EPS, if applicable, which is computed similarly to "fully diluted" EPS under existing accounting rules. Restatement of prior years' EPS, if necessary, is also required by this Statement. The adoption of SFAS No. 128 by the Company is not expected to have any impact on the Company's computation of EPS. 3. RECLASSIFICATIONS Certain amounts in the prior period's financial statements have been reclassified to be consistent with the current year's presentation. The reclassifications have no effect on net income. -6- PART I - FINANCIAL INFORMATION ------------------------------ Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Summary - ------- The Company recorded net income of $2,584,192 for the nine months ended September 30, 1997, representing an increase of $187,424 or 7.8% over $2,396,768 for the same period in 1996. Earnings per share of $.878 for the current period represented an increase of $.123 from $.755 for the nine months ended September 30, 1996. The Company recorded net income of $983,619 for the three months ended September 30, 1997, representing an increase of $143,661 or 17.1% over $839,958 for the corresponding period in 1996. Earnings per share of $.333 for the current period represented an increase of $.069 from $.264 for the same period in 1996. The improvement in net income resulted primarily from an increase in net interest income and noninterest income, partially offset by increases in salaries and benefits, furniture and equipment, credit card processing and other expense. Deposits of $229,524,862 at September 30, 1997 increased by $12,342,993 or 5.7 % from $217,181,869 at December 31, 1996. The increase in deposits occurred primarily in the interest bearing categories of NOW accounts, cash management accounts and certificates of deposit. Loans of $142,474,340 at September 30, 1997 increased by $10,903,910 or 8.3% from $131,570,430 at December 31, 1996. This increase occurred primarily in the commercial and home equity portfolios. Noncurrent loans (nonaccrual loans and loans 90 days or more past due but still accruing) totaled $817,877 and $1,266,732 at September 30, 1997 and December 31, 1996, respectively. There were no accruing troubled debt restructurings at September 30, 1997 or December 31, 1996. Assets of $264,078,153 at September 30, 1997 represented a $14,075,695 or 5.6% increase from $250,002,458 at December 31, 1996. Nine months ended September 30, 1997 as Compared To Nine months ended September 30, 1997 --------------------------------------------------- Net Interest Income - ------------------- Interest income for the nine months ended September 30, 1997 was $14,169,566, representing an increase of $942,046 or 7.1% from $13,227,520 for the nine months ended September 30, 1996, primarily due to higher loan and securities balances and higher interest yields on securities in 1997. Interest expense was $5,057,751, representing an increase of $309,375 or 6.5% from $4,748,376 for the nine months ended September 30, 1996, primarily due to higher average interest bearing deposit and repurchase agreement balances in 1997. Net interest income for the nine months ended September 30, 1997 was $9,111,815, representing an increase of $632,671 or 7.5% from $8,479,144 for the nine months ended September 30, 1996. -7- Noninterest Income and Expense - ------------------------------ Noninterest income for the nine months ended September 30, 1997 was $1,950,341, representing an increase of $136,644 or 7.5% from $1,813,697 for the nine months ended September 30, 1996. This increase was primarily the result of increases in merchant credit card assessments, service charges, gains on sales of securities and other income, partially offset by a reduction in other charges, commissions and fees and gains on sales of loans. Noninterest expense for the nine months ended September 30, 1997 of $6,914,897 was up $559,939 or 8.8% from $6,354,958 for the same period in 1996. This increase was primarily the result of increases in salaries and employee benefits, furniture and equipment, credit card processing and other expense, partially offset by reductions in data processing expense and occupancy expense. Included in other expense is approximately $224,000 associated with the name change of the Company's subsidiary from Hudson National Bank to Community National Bank. The new name became effective on June 2, 1997. Provision for Loan Losses - ------------------------- There was no provision for loan losses for the nine months ended September 30, 1997 or 1996, reflecting management's continuing evaluation of the adequacy of the allowance for loan losses and its belief that the allowance is adequate. Income Taxes - ------------ Income tax expense of $1,563,067 for the nine months ended September 30, 1997 compared to $1,541,115 for the same period in 1996, the result of an increase in taxable income during the current period. Net Income - ---------- Net income of $2,584,192 for the first nine months of 1997 represented an increase of $187,424 or 7.8% from $2,396,768 recorded for the first nine months of 1996. Earnings per share of $.878 for the current period represented an increase of $.123 from $.755 for the nine months ended September 30, 1996. Three Months ended September 30, 1997 as Compared To Three Months ended September 30, 1996 ---------------------------------------------------- Net Interest Income - ------------------- Interest income for the three months ended September 30, 1997 was $4,884,259, representing an increase of $435,555 or 9.8% from $4,448,704 for the three months ended September 30, 1996. The increase was primarily due to higher loan and securities balances and higher interest yields on securities in 1997. Interest expense was $1,727,651, representing an increase of $150,547 or 9.5% from $1,577,104 for the three months ended September 30, 1996, primarily due to higher interest bearing deposit and repurchase agreement balances in 1997. Net interest income for the three months ended September 30, 1997 was $3,156,608, representing an increase of $285,008 or 9.9% from $2,871,600 for the same period in 1996. -8- Noninterest Income and Expense - ------------------------------ Noninterest income for the three months ended September 30, 1997 was $658,924, representing an increase of $62,761 or 10.5% from $596,163 for the three months ended September 30, 1996. This increase was primarily the result of increases in merchant credit card assessments, other charges, commissions and fees, gains on sales of loans and gains on sales of securities, partially offset by reductions in service charges and other income. Noninterest expense for the three months ended September 30, 1997 of $2,243,220 was up $158,528 or 7.6% from $2,084,692 for the three months ended September 30, 1996. This increase was primarily the result of increases in occupancy, furniture and equipment, credit card processing and other expense, partially offset by a reduction in salaries and employee benefits and data processing expense. Included in other expense is approximately $72,000 associated with the name change of the Company's subsidiary from Hudson National Bank to Community National Bank. Provision for Loan Losses - ------------------------- There was no provision for loan losses for the three months ended September 30, 1997 or 1996, reflecting management's continuing evaluation of the adequacy of the allowance for loan losses and its belief that the allowance is adequate. Income Taxes - ------------ Income tax expense of $588,693 for the three months ended September 30, 1997 compared to $543,113 for the three months ended September 30, 1996, the result of an increase in taxable income during the current period. Net Income - ---------- Net income of $983,619 for the three months ended September 30, 1997 represented an increase of $143,661 or 17.1% over $839,958 for the three months ended September 30, 1996. Earnings per share of $.333 for the current period represented an increase of $.069 from $.264 for the three months ended September 30, 1996. Allowance for Possible Loan Losses - ---------------------------------- The allowance for possible loan losses is maintained at a level believed by management to be adequate to absorb potential losses in the loan portfolio. Management's methodology in determining the adequacy of the allowance considers specific credit reviews, past loan loss experience, current economic conditions and trends and the volume, growth and composition of the loan portfolio. Each loan on the Company's internal Watch List is evaluated periodically to estimate potential losses. For loans with potential losses, the bank sets aside or "allocates" a portion of the ALLL against such potential losses. For the remainder of the portfolio, "unallocated" reserve amounts are determined based on judgments regarding the type of loan, economic conditions and trends, potential exposure to loss and other factors. The allowance for possible loan losses is charged when management determines that the repayment of the principal on a loan is in doubt. Subsequent recoveries, if any, are credited to the -9- allowance. At September 30, 1997, the balance in the allowance was $3,298,226, representing 403% of noncurrent loans, compared to $3,481,705 or 275% of noncurrent loans at December 31, 1996. Securities - ---------- The Company's securities portfolio consists of obligations of the U.S. Treasury, U.S. government sponsored agencies, mortgage backed securities and obligations of various municipalities. Those assets are used in part to secure public deposits and as collateral for repurchase agreements. Total securities were $88,410,461 at September 30, 1997, representing an increase of $336,573 or .4% from $88,073,888 at December 31, 1996. At September 30, 1997, $32,331,534 in securities were classified as "available for sale". Sales of securities available for sale totaled $2,913,737, and sales of securities held to maturity but within ninety days of their maturity dates totaled $2,000,000, during the nine months ended September 30, 1997. Liquidity and Capital Resources - ------------------------------- The Company's primary sources of liquidity are customer deposits, amortization and pay-offs of loan principal and maturities of investment securities. These sources provide funds for loan originations, the purchase of investment securities and other activities. Deposits are considered a relatively stable source of funds. At September 30, 1997 and 1996, deposits were $229.5 and $211.5 million, respectively. Management anticipates that deposits will remain relatively stable or grow moderately during the remainder of 1997. As a nationally chartered member of the Federal Reserve System, the Bank has the ability to borrow funds from the Federal Reserve Bank of Boston by pledging certain of its investment securities as collateral. Also, the Bank is a member of the Federal Home Loan Bank which provides additional borrowing opportunities. On September 15, 1997, the Company implemented an Offer to Purchase up to 125,000 shares of its outstanding common stock at a price of $12.00 per share, as filed with the Commission on Schedule 13E-4. The Offer expired at 5:00 p.m. E.D.T., on October 15, 1997, with 24,301 shares tendered and accepted by the Company. As a result of the repurchase of shares, the Company's capital was reduced by $291,612. Bank regulatory authorities have established a capital measurement tool called "Tier 1" leverage capital. A 4.00% ratio of Tier 1 capital to assets now constitutes the minimum capital standard for most banking organizations. At September 30, 1997, the Company's Tier 1 leverage capital ratio was 8.32%. Regulatory authorities have also implemented risk-based capital guidelines requiring a minimum ratio of Tier 1 capital to risk weighted assets of 4.00% and a minimum ratio of total capital to risk-weighted assets of 8.00%. At September 30, 1997 the Company's Tier 1 and total risk-based capital ratios were 14.40% and 15.67%, respectively. The Bank is categorized as "well capitalized" under the Federal Deposit Insurance Corporation Improvement Act of 1991 (F.D.I.C.I.A.). On September 16, 1997, the Company's Board of Directors declared a third quarter 1997 cash dividend of $.072 per share of common stock to shareholders of record at September 1, 1997, payable on October 15, 1997. -10- Asset/Liability Management - -------------------------- The Company has an asset/liability management committee which oversees all asset/liability activities of the Company. The committee establishes general guidelines each year and meets regularly to review the Company's operating results and to make strategic changes when necessary. It is the Company's general policy to reasonably match the rate sensitivity of its assets and liabilities. A common benchmark of this sensitivity is the one year gap position, which is a reflection of the difference between the speed and magnitude of rate changes of interest rate sensitive liabilities as compared with the Bank's ability to adjust the rates of it's interest rate sensitive assets in response to such changes. The Company's positive cumulative one year gap position at September 30, 1997, representing the excess of repricing assets versus repricing liabilities within a one year time frame, was 2.7% of total assets. -11- PART II - OTHER INFORMATION --------------------------- Item 5. OTHER INFORMATION On September 15, 1997, the Company implemented an Offer to Purchase up to 125,000 shares of its outstanding common stock at a price of $12.00 per share, as filed with the Commission on Schedule 13E-4. The Offer expired at 5:00 p.m. E.D.T., on October 15, 1997, with 24,301 shares tendered and accepted by the Company. As a result of the repurchase of shares, the Company's capital was reduced by $291,612. On September 16, 1997, the Company's Board of Directors declared a third quarter 1997 cash dividend of $.072 per share of common stock to shareholders of record at September 1, 1997, payable on October 15, 1997. Item 6. EXHIBITS AND REPORTS ON FORM 8-K (b) The Company did not file a Form 8-K during the quarter ended September 30, 1997. -12- 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 thereunto duly authorized. COMMUNITY BANCORP, INC. ----------------------- Date: October 28, 1997 By: /s/ James A. Langway ------------------------- James A. Langway President & Chief Executive Officer Principal Executive Officer Date: October 28, 1997 By: /s/ Donald R. Hughes, Jr. ------------------------- Donald R. Hughes, Jr. Treasurer and Clerk, Principal Financial Officer and Principal Accounting Officer -13- EX-27 2 FINANCIAL DATA SCHEDULE FOR 09-30-97
9 This schedule contains summary financial information extracted from the unaudited September 30, 1997 financial statements of Community Bancorp, Inc. and is qualified in its entirety by reference to such financial statements. 9-MOS DEC-31-1997 SEP-30-1997 17294064 0 11000000 0 32331534 56078927 56244722 142474340 3298226 264078153 229524862 10604702 1899025 0 7998045 0 0 14051519 264078153 9750798 4164153 254615 14169566 4507856 5057751 9111815 0 8599 6914897 4147529 4147529 0 0 2584192 .878 .878 5.29 655367 162510 0 0 3481705 262637 79158 3298226 1664753 0 1633473
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