-----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, GfOWkQHKehXNt3/edzSVtq62oRMg8tZPk2XX4pN8ZGWLb+Lz+AOov8cyQuwcSJ5l lh4tBojmBOYEmRp9qb+fAQ== 0000950124-98-003010.txt : 19980518 0000950124-98-003010.hdr.sgml : 19980518 ACCESSION NUMBER: 0000950124-98-003010 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980331 FILED AS OF DATE: 19980515 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: STATE FINANCIAL SERVICES CORP CENTRAL INDEX KEY: 0000745614 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 391489983 STATE OF INCORPORATION: WI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: SEC FILE NUMBER: 000-18166 FILM NUMBER: 98626343 BUSINESS ADDRESS: STREET 1: 10708 W JANESVILLE RD CITY: HALES CORNERS STATE: WI ZIP: 53130 BUSINESS PHONE: 4144251600 MAIL ADDRESS: STREET 1: 10708 W. JANESVILLE ROAD CITY: HALES CORNERS STATE: WI ZIP: 53130 10-Q/A 1 10-Q/A 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q/A QUARTERLY REPORT UNDER SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarter Ended MARCH 31, 1998 Commission file number 0-18166 STATE FINANCIAL SERVICES CORPORATION ------------------------------------ (Exact name of registrant as specified in its charter) WISCONSIN 39-1489983 --------- ---------- (State or other jurisdiction of (I.R.S. Employer identification No.) incorporation or organization) 10708 WEST JANESVILLE ROAD, HALES CORNERS, WISCONSIN ---------------------------------------------------- 53130 (Address and Zip Code of principal executive offices) Not applicable -------------- (Former name, former address and former fiscal year, if changed since last report) (414) 425-1600 -------------- (Registrant's telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Sections 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 --- --- APPLICABLE ONLY TO CORPORATE ISSUERS Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. As of May 7, 1998, there were 3,880,018 shares of Registrant's $0.10 Par Value Common Stock outstanding. 2 STATE FINANCIAL SERVICES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
Three months ended March 31, 1998 1997 ---------------------- ---------------------- INTEREST INCOME: Loans, including fees $ 6,187,674 $ 4,868,835 Investment securities Taxable 1,076,985 857,954 Tax-exempt 310,247 189,306 Federal funds sold 236,240 12,175 ---------------------- ---------------------- TOTAL INTEREST INCOME 7,811,146 5,928,270 INTEREST EXPENSE: Deposits 3,466,559 2,060,027 Notes payable and other borrowings 147,353 178,973 ---------------------- ---------------------- TOTAL INTEREST EXPENSE 3,613,912 2,239,000 ---------------------- ---------------------- NET INTEREST INCOME 4,197,234 3,689,270 Provision for loan losses 142,500 82,500 ---------------------- ---------------------- NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 4,054,734 3,606,770 OTHER INCOME: Service charges on deposit accounts 297,948 250,893 Merchant service fees 295,495 270,460 Building rent 73,409 77,663 ATM fees 116,120 43,571 Gains on sale of loans 156,981 16,586 Investment security gains 202,058 -0- Other 239,781 96,329 ---------------------- ---------------------- TOTAL OTHER INCOME 1,381,792 755,502 OTHER EXPENSES: Salaries and employee benefits 1,756,879 1,214,522 Net occupancy expense 255,474 253,016 Equipment rentals, depreciation and maintenance 371,957 259,840 Data processing 248,995 182,745 Legal and professional 125,675 90,213 Merchant service charges 219,943 223,507 ATM charges 45,395 47,107 Advertising 114,409 86,625 Goodwill amortization 140,460 37,857 Other 507,764 378,348 ---------------------- ---------------------- TOTAL OTHER EXPENSES 3,786,951 2,773,780 INCOME BEFORE INCOME TAXES 1,649,575 1,588,492 Income taxes 559,076 543,989 ---------------------- ---------------------- NET INCOME $ 1,090,499 $ 1,044,503 ====================== ====================== Basic earnings per common share $ 0.29 $ 0.28 Diluted earnings per common share 0.28 0.27 Dividends per common share 0.12 0.10 Weighted average common shares outstanding Basic 3,775,086 3,795,107 Diluted 3,827,313 3,846,429 See notes to unaudited consolidated financial statements.
3 3 SIGNATURES Pursuant to the requirement 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. STATE FINANCIAL SERVICES CORPORATION (Registrant) Date: May 14, 1998 --------------- By /s/ Michael J. Falbo --------------------------------------------- Michael J. Falbo President and Chief Executive Officer Date: May 14, 1998 --------------- By /s/ Michael A. Reindl --------------------------------------------- Michael A. Reindl Senior Vice President, Controller, and Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----