-----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, KeB+dDCjin/EktfmxnkbmhxqnU/SShkvin/7060DRyFNSB7zDlxbqPSQePllUtj4 BleZDhEGjNBma98Oj926oA== 0000950116-03-001586.txt : 20030213 0000950116-03-001586.hdr.sgml : 20030213 20030212193705 ACCESSION NUMBER: 0000950116-03-001586 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20021021 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030213 FILER: COMPANY DATA: COMPANY CONFORMED NAME: YARDVILLE NATIONAL BANCORP CENTRAL INDEX KEY: 0000787849 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 222670267 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-26086 FILM NUMBER: 03556463 BUSINESS ADDRESS: STREET 1: 3111 QUAKERBRIDGE RD CITY: MERCERVILLE STATE: NJ ZIP: 08619 BUSINESS PHONE: 6095855100 MAIL ADDRESS: STREET 1: 3111 QUAKERBRIDGE RD CITY: MERCERVILLE STATE: NJ ZIP: 08619 8-K/A 1 eightk-a.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K/A CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): October 21, 2002 YARDVILLE NATIONAL BANCORP -------------------------------------------- (Exact name of issuer as specified in charter) NEW JERSEY 0-26086 22-2670267 (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation or file Identification Organization) number) Number) 2465 KUSER ROAD HAMILTON, NEW JERSEY 08690 -------------------------------------------- (Address of principal executive offices) (609) 585-5100 ---------------------------------------------------- (Registrant's telephone number, including area code) EXPLANATORY NOTE This Current Report on Form 8-K/A amends the Current Report on Form 8-K filed by Yardville National Bancorp, a New Jersey corporation (the "Company") on October 21, 2002 (the "October 8-K"), amends the Current Report on Form 8-K filed by the Company on January 28, 2003 (the "January 8-K") and amends and restates the Current Report on Form 8-K/A filed by the Company on January 31, 2003 (the "Amended 8-K"), reporting and amending, respectively, the Company's financial results for the three and nine months ended September 30, 2002 and for the three and twelve months ended December 31, 2002. The purpose of this Amendment is to correct certain information (modifying, in the "Financial Summary - Average Balances, Rates Paid and Yields" section, the reported classification and resulting average yields/rates of certain accounts among the different types of interest earning assets and interest bearing deposits, respectively, as well as the reported classification of average other liabilities and average stockholders' equity, and in the "Summary of Financial Information for the Three and Twelve Months Ended December 31, 2002 and the Three and Twelve Months Ended December 31, 2001" section, the reported return on average stockholders' equity to reflect the effect of the change in average stockholders' equity described above) included in the financial information attached to the separate press releases included as Exhibit 99 in each of the October 8-K, the January 8-K and the information attached as Exhibits to the Amended 8-K. The corrections reflected in this Amendment did not result in any changes to the total interest earning assets, total interest bearing deposits, total interest bearing liabilities, total liabilities and stockholders' equity, total interest expense, net income or the reported end of period statement of condition as previously reported in Exhibit 99 in each of the October 8-K and the January 8-K. Except as described above, the Company has not updated any of the other information included in the October 8-K and the January 8-K. Item 7 - Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits Exhibit No. Description - ----------- ----------- 99.1 Financial Summary - Average Balances, Rates Paid and Yields, for the Three Months Ended September 30, 2002 and Three Months Ended September 30, 2001 and the Financial Summary - Average Balances, Rates Paid and Yields, for the Nine Months Ended September 30, 2002 and Nine Months Ended September 30, 2001 (This Exhibit 99.1 is intended to replace in its entirety the Financial Summary - Average Balances, Rates Paid and Yields, for the Three Months Ended September 30, 2002 and Three Months Ended September 30, 2001 and the Financial Summary - Average Balances, Rates Paid and Yields, for the Nine Months Ended September 30, 2002 and Nine Months Ended September 30, 2001 forming part of Exhibit 99 to the Current Report on Form 8-K filed by the Company on October 21, 2002.) 99.2 Financial Summary - Average Balances, Rates Paid and Yields, for the Three Months Ended December 31, 2002 and Three Months Ended December 31, 2001 and the Financial Summary - Average Balances, Rates Paid and Yields, for the Twelve Months Ended December 31, 2002 and the Twelve Months Ended December 31, 2001 (This Exhibit 99.2 is intended to replace in its entirety the Financial Summary - Average Balances, Rates Paid and Yields, for the Three Months Ended December 31, 2002 and Three Months Ended December 31, 2001 Financial Summary - Average Balances, Rates Paid and Yields, for the Twelve Months Ended December 31, 2002 and the Twelve Months Ended December 31, 2001 and the forming part of Exhibit 99 to the Current Report on Form 8-K filed by the Company on January 28, 2003, as amended by the Current Report on Form 8-K filed by the Company on January 31, 2003.) 99.3 Summary of Financial Information for the Three and Twelve Months ended December 31, 2002 and the Three and Twelve Months Ended December 31, 2001 (This Exhibit 99.3 is intended to replace in its entirety the Summary of Financial Information for the Three and Twelve Months ended December 31, 2002 and the Three and Twelve Months Ended December 31, 2001 forming part of Exhibit 99 to the Current Report on Form 8-K filed by the Company on January 28, 2003.) -2- Signatures Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. YARDVILLE NATIONAL BANCORP Date: February 12, 2003 By: /s/ Stephen F. Carman ---------------------------- Stephen F. Carman Vice President and Treasurer -3- Index to Exhibits Exhibit No. Description - ----------- ----------- 99.1 Financial Summary - Average Balances, Rates Paid and Yields, for the Three Months Ended September 30, 2002 and Three Months Ended September 30, 2001 and the Financial Summary - Average Balances, Rates Paid and Yields, for the Nine Months Ended September 30, 2002 and Nine Months Ended September 30, 2001 (This Exhibit 99.1 is intended to replace in its entirety the Financial Summary - Average Balances, Rates Paid and Yields, for the Three Months Ended September 30, 2002 and Three Months Ended September 30, 2001 and the Financial Summary - Average Balances, Rates Paid and Yields, for the Nine Months Ended September 30, 2002 and Nine Months Ended September 30, 2001 forming part of Exhibit 99 to the Current Report on Form 8-K filed by the Company on October 21, 2002.) 99.2 Financial Summary - Average Balances, Rates Paid and Yields, for the Three Months Ended December 31, 2002 and Three Months Ended December 31, 2001 and the Financial Summary - Average Balances, Rates Paid and Yields, for the Twelve Months Ended December 31, 2002 and the Twelve Months Ended December 31, 2001 (This Exhibit 99.2 is intended to replace in its entirety the Financial Summary - Average Balances, Rates Paid and Yields, for the Three Months Ended December 31, 2002 and Three Months Ended December 31, 2001 Financial Summary - Average Balances, Rates Paid and Yields, for the Twelve Months Ended December 31, 2002 and the Twelve Months Ended December 31, 2001 and the forming part of Exhibit 99 to the Current Report on Form 8-K filed by the Company on January 28, 2003.) 99.3 Summary of Financial Information for the Three and Twelve Months ended December 31, 2002 and the Three and Tweleve Months Ended December 31, 2001 (This Exhibit 99.3 is intended to replace in its entirety the Summary of Financial Information for the Three and Twelve Months ended December 31, 2002 and the Three and Twelve Months Ended December 31, 2001 forming part of Exhibit 99 to the Current Report on Form 8-K filed by the Company on January 28, 2003.) -4- EX-99 3 ex99-1.txt EXHIBIT 99.1 Financial Summary Average Balances, Rates Paid and Yields
Three Months Ended Three Months Ended September 30, 2002 September 30, 2001 - ------------------------------------------------------------------------------------------------------------------------------------ Average Average Average Yield/ Average Yield/ (in thousands) Balance Interest Rate Balance Interest Rate - ------------------------------------------------------------------------------------------------------------------------------------ INTEREST EARNING ASSETS: Deposits with other banks $ 2,763 $ 14 2.03% $ 4,720 $ 59 5.00% Federal funds sold 66,629 296 1.78 101,143 860 3.40 Securities 909,095 11,231 4.94 773,740 11,668 6.03 Loans (1) 1,102,407 19,294 7.00 902,221 17,708 7.85 - ------------------------------------------------------------------------------------------------------------------------------------ Total interest earning assets $ 2,080,894 $ 30,835 5.93% $ 1,781,824 $ 30,295 6.80% ==================================================================================================================================== NON-INTEREST EARNING ASSETS: Cash and due from banks $ 22,346 $ 21,947 Allowance for loan losses (15,213) (11,525) Premises and equipment, net 11,310 10,120 Other assets 51,187 51,170 - ------------------------------------------------------------------------------------------------------------------------------------ Total non-interest earning assets 69,630 71,712 - ------------------------------------------------------------------------------------------------------------------------------------ Total assets $ 2,150,524 $ 1,853,536 ==================================================================================================================================== INTEREST BEARING LIABILITIES: Deposits: Savings, money markets and interest bearing demand $ 480,886 $ 2,759 2.29% $ 319,143 $ 2,413 3.02% Certificates of deposit of $100,000 or more 143,696 1,233 3.43 130,298 1,831 5.62 Other time deposits 494,196 4,538 3.67 480,577 7,116 5.92 - ------------------------------------------------------------------------------------------------------------------------------------ Total interest bearing deposits 1,118,778 8,530 3.05 930,018 11,360 4.89 Borrowed funds 753,875 9,414 4.99 675,726 9,253 5.48 Trust preferred securities 32,500 775 9.54 32,500 775 9.54 - ------------------------------------------------------------------------------------------------------------------------------------ Total interest bearing liabilities $ 1,905,153 $ 18,719 3.93% $ 1,638,244 $ 21,388 5.22% ==================================================================================================================================== NON-INTEREST BEARING LIABILITIES: Demand deposits $ 119,167 $ 112,591 Other liabilities 18,936 16,397 Stockholders' equity 107,268 86,304 - ------------------------------------------------------------------------------------------------------------------------------------ Total non-interest bearing liabilities and stockholders' equity $ 245,371 $ 215,292 - ------------------------------------------------------------------------------------------------------------------------------------ Total liabilities and stockholders' equity $ 2,150,524 $ 1,853,536 - ------------------------------------------------------------------------------------------------------------------------------------ Interest rate spread (2) 2.00% 1.58% - ------------------------------------------------------------------------------------------------------------------------------------ Net interest income and margin (3) $ 12,116 2.33% $ 8,907 2.00% - ------------------------------------------------------------------------------------------------------------------------------------ Net interest income and margin (tax equivalent basis)(4) $ 12,429 2.39% $ 9,191 2.06% ====================================================================================================================================
(1) Loan origination fees are considered an adjustment to interest income. For the purpose of calculating loan yields, average loan balances include nonaccrual loans with no related interest income. (2) The interest rate spread is the difference between the average yield on interest earning assets and the average rate paid on interest bearing liabilities. (3) The net interest margin is equal to net interest income divided by average interest earning assets. (4) In order to make pre-tax income and resultant yields on tax exempt investments and loans comparable to those on taxable investments and loans, a tax equivalent adjustment is made equally to interest income and interest expense with no effect on after tax income. The tax equivalent adjustment has been computed using a Federal income tax rate of 34% and has increased interest income by $313,000 and $284,000 for the three month periods ended September 30, 2002 and 2001, respectively. Financial Summary Average Balances, Rates Paid and Yields
Nine Months Ended Nine Months Ended September 30, 2002 September 30, 2001 - ------------------------------------------------------------------------------------------------------------------------------------ Average Average Average Yield/ Average Yield/ (in thousands) Balance Interest Rate Balance Interest Rate - ------------------------------------------------------------------------------------------------------------------------------------ INTEREST EARNING ASSETS: Deposits with other banks $ 2,947 $ 44 1.99% $ 4,045 $ 147 4.85% Federal funds sold 76,279 951 1.66 74,887 2,368 4.22 Securities 851,989 33,425 5.23 732,454 34,487 6.28 Loans (1) 1,056,545 55,205 6.97 863,739 52,651 8.13 - ------------------------------------------------------------------------------------------------------------------------------------ Total interest earning assets $ 1,987,760 $ 89,625 6.01% $ 1,675,125 $ 89,653 7.14% ==================================================================================================================================== NON-INTEREST EARNING ASSETS: Cash and due from banks $ 22,570 $ 20,906 Allowance for loan losses (14,270) (11,286) Premises and equipment, net 11,195 9,852 Other assets 51,298 51,541 - ------------------------------------------------------------------------------------------------------------------------------------ Total non-interest earning assets 70,793 71,013 - ------------------------------------------------------------------------------------------------------------------------------------ Total assets $ 2,058,553 $ 1,746,138 ==================================================================================================================================== INTEREST BEARING LIABILITIES: Deposits: Savings, money markets and interest bearing demand $ 456,600 $ 8,486 2.48% $ 300,717 $ 7,328 3.25% Certificates of deposit of $100,000 or more 147,616 3,943 3.56 126,697 5,958 6.27 Other time deposits 462,405 13,469 3.88 452,603 21,126 6.22 - ------------------------------------------------------------------------------------------------------------------------------------ Total interest bearing deposits 1,066,621 25,898 3.24 880,017 34,412 5.21 Borrowed funds 727,602 27,050 4.96 630,462 26,172 5.53 Trust preferred securities 32,500 2,325 9.54 30,565 2,177 9.50 - ------------------------------------------------------------------------------------------------------------------------------------ Total interest bearing liabilities $ 1,826,723 $ 55,273 4.03% $ 1,541,044 $ 62,761 5.43% ==================================================================================================================================== NON-INTEREST BEARING LIABILITIES: Demand deposits $ 115,046 $ 102,133 Other liabilities 16,029 20,182 Stockholders' equity 100,755 82,779 - ------------------------------------------------------------------------------------------------------------------------------------ Total non-interest bearing liabilities and stockholders' equity $ 231,830 $ 205,094 - ------------------------------------------------------------------------------------------------------------------------------------ Total liabilities and stockholders' equity $ 2,058,553 $ 1,746,138 - ------------------------------------------------------------------------------------------------------------------------------------ Interest rate spread (2) 1.98% 1.71% - ------------------------------------------------------------------------------------------------------------------------------------ Net interest income and margin (3) $ 34,352 2.30% $ 26,892 2.14% - ------------------------------------------------------------------------------------------------------------------------------------ Net interest income and margin (tax equivalent basis)(4) $ 35,281 2.37% $ 27,661 2.20% ====================================================================================================================================
(1) Loan origination fees are considered an adjustment to interest income. For the purpose of calculating loan yields, average loan balances include nonaccrual loans with no related interest income. (2) The interest rate spread is the difference between the average yield on interest earning assets and the average rate paid on interest bearing liabilities. (3) The net interest margin is equal to net interest income divided by average interest earning assets. (4) In order to make pre-tax income and resultant yields on tax exempt investments and loans comparable to those on taxable investments and loans, a tax equivalent adjustment is made equally to interest income and interest expense with no effect on after tax income. The tax equivalent adjustment has been computed using a Federal income tax rate of 34% and has increased interest income by $929,000 and $769,000 for the nine month periods ended September 30, 2002 and 2001, respectively. EX-99 4 ex99-2.txt EXHIBIT 99.2 Financial Summary Average Balances, Rates Paid and Yields
Three Months Ended Three Months Ended December 31, 2002 December 31, 2001 - ------------------------------------------------------------------------------------------------------------------------------------ Average Average Average Yield/ Average Yield/ (in thousands) Balance Interest Rate Balance Interest Rate - ------------------------------------------------------------------------------------------------------------------------------------ INTEREST EARNING ASSETS: Deposits with other banks $ 2,707 $ 16 2.36% $ 3,131 $ 24 3.07% Federal funds sold 59,583 206 1.38 73,832 397 2.15 Securities 901,554 10,108 4.48 791,327 11,117 5.62 Loans (1) 1,171,590 20,190 6.89 976,609 17,757 7.27 - ------------------------------------------------------------------------------------------------------------------------------------ Total interest earning assets $ 2,135,434 $ 30,520 5.72% $ 1,844,899 $ 29,295 6.35% ==================================================================================================================================== NON-INTEREST EARNING ASSETS: Cash and due from banks $ 24,149 $ 21,386 Allowance for loan losses (16,274) (12,473) Premises and equipment, net 11,867 10,771 Other assets 50,897 54,528 - ------------------------------------------------------------------------------------------------------------------------------------ Total non-interest earning assets 70,639 74,212 - ------------------------------------------------------------------------------------------------------------------------------------ Total assets $ 2,206,073 $ 1,919,111 ==================================================================================================================================== INTEREST BEARING LIABILITIES: Deposits: Savings, money markets and interest bearing demand $ 510,137 $ 2,742 2.15% $ 372,228 $ 2,603 2.80% Certificates of deposit of $100,000 or more 149,628 1,241 3.32 137,269 1,623 4.73 Other time deposits 492,220 4,278 3.48 457,179 5,959 5.21 - ------------------------------------------------------------------------------------------------------------------------------------ Total interest bearing deposits 1,151,985 8,261 2.87 966,676 10,185 4.21 Borrowed funds 758,000 9,353 4.94 687,374 9,092 5.29 Trust preferred securities 32,500 775 9.54 32,500 775 9.54 - ------------------------------------------------------------------------------------------------------------------------------------ Total interest bearing liabilities $ 1,942,485 $ 18,389 3.79% $ 1,686,550 $ 20,052 4.76% ==================================================================================================================================== NON-INTEREST BEARING LIABILITIES: Demand deposits $ 127,479 $ 111,907 Other liabilities 21,882 21,925 Stockholders' equity 114,227 98,729 - ------------------------------------------------------------------------------------------------------------------------------------ Total non-interest bearing liabilities and stockholders' equity $ 263,588 $ 232,561 - ------------------------------------------------------------------------------------------------------------------------------------ Total liabilities and stockholders' equity $ 2,206,073 $ 1,919,111 - ------------------------------------------------------------------------------------------------------------------------------------ Interest rate spread (2) 1.93% 1.59% - ------------------------------------------------------------------------------------------------------------------------------------ Net interest income and margin (3) $ 12,131 2.27% $ 9,243 2.00% - ------------------------------------------------------------------------------------------------------------------------------------ Net interest income and margin (tax equivalent basis)(4) $ 12,447 2.33% $ 9,536 2.07% ====================================================================================================================================
(1) Loan origination fees are considered an adjustment to interest income. For the purpose of calculating loan yields, average loan balances include nonaccrual loans with no related interest income. (2) The interest rate spread is the difference between the average yield on interest earning assets and the average rate paid on interest bearing liabilities. (3) The net interest margin is equal to net interest income divided by average interest earning assets. (4) In order to make pre-tax income and resultant yields on tax exempt investments and loans comparable to those on taxable investments and loans, a tax equivalent adjustment is made equally to interest income and interest expense with no effect on after tax income. The tax equivalent adjustment has been computed using a Federal income tax rate of 34% and has increased interest income by $316,000 and $293,000 for the three month periods ended December 31, 2002 and 2001, respectively. Financial Summary Average Balances, Rates Paid and Yields
Twelve Months Ended Twelve Months Ended December 31, 2002 December 31, 2001 - ------------------------------------------------------------------------------------------------------------------------------------ Average Average Average Yield/ Average Yield/ (in thousands) Balance Interest Rate Balance Interest Rate - ------------------------------------------------------------------------------------------------------------------------------------ INTEREST EARNING ASSETS: Deposits with other banks $ 2,887 $ 60 2.08% $ 3,816 $ 171 4.48% Federal funds sold 72,790 1,157 1.59 74,624 2,765 3.71 Securities 863,695 43,533 5.04 747,172 45,604 6.10 Loans (1) 1,085,306 75,395 6.95 891,957 70,408 7.89 - ------------------------------------------------------------------------------------------------------------------------------------ Total interest earning assets $ 2,024,678 $ 120,145 5.93% $ 1,717,569 $ 118,948 6.93% ==================================================================================================================================== NON-INTEREST EARNING ASSETS: Cash and due from banks $ 22,965 $ 21,026 Allowance for loan losses (14,771) (11,583) Premises and equipment, net 11,363 10,081 Other assets 51,198 52,288 - ------------------------------------------------------------------------------------------------------------------------------------ Total non-interest earning assets 70,755 71,812 - ------------------------------------------------------------------------------------------------------------------------------------ Total assets $ 2,095,433 $ 1,789,381 ==================================================================================================================================== INTEREST BEARING LIABILITIES: Deposits: Savings, money markets and interest bearing demand $ 469,985 $ 11,228 2.39% $ 318,595 $ 9,931 3.12% Certificates of deposit of $100,000 or more 148,119 5,184 3.50 129,340 7,581 5.86 Other time deposits 469,858 17,747 3.78 453,747 27,085 5.97 - ------------------------------------------------------------------------------------------------------------------------------------ Total interest bearing deposits 1,087,962 34,159 3.14 901,682 44,597 4.95 Borrowed funds 735,201 36,403 4.95 644,690 35,264 5.47 Trust preferred securities 32,500 3,100 9.54 31,048 2,952 9.51 - ------------------------------------------------------------------------------------------------------------------------------------ Total interest bearing liabilities $ 1,855,663 $ 73,662 3.97% $ 1,577,420 $ 82,813 5.25% ==================================================================================================================================== NON-INTEREST BEARING LIABILITIES: Demand deposits $ 118,154 $ 104,577 Other liabilities 17,493 20,617 Stockholders' equity 104,123 86,767 - ------------------------------------------------------------------------------------------------------------------------------------ Total non-interest bearing liabilities and stockholders' equity $ 239,770 $ 211,961 - ------------------------------------------------------------------------------------------------------------------------------------ Total liabilities and stockholders' equity $ 2,095,433 $ 1,789,381 - ------------------------------------------------------------------------------------------------------------------------------------ Interest rate spread (2) 1.96% 1.68% - ------------------------------------------------------------------------------------------------------------------------------------ Net interest income and margin (3) $ 46,483 2.30% $ 36,135 2.10% - ------------------------------------------------------------------------------------------------------------------------------------ Net interest income and margin (tax equivalent basis)(4) $ 47,728 2.36% $ 37,197 2.17% ====================================================================================================================================
(1) Loan origination fees are considered an adjustment to interest income. For the purpose of calculating loan yields, average loan balances include nonaccrual loans with no related interest income. (2) The interest rate spread is the difference between the average yield on interest earning assets and the average rate paid on interest bearing liabilities. (3) The net interest margin is equal to net interest income divided by average interest earning assets. (4) In order to make pre-tax income and resultant yields on tax exempt investments and loans comparable to those on taxable investments and loans, a tax equivalent adjustment is made equally to interest income and interest expense with no effect on after tax income. The tax equivalent adjustment has been computed using a Federal income tax rate of 34% and has increased interest income by $1,245,000 and $1,062,000 for the twelve month periods ended December 31, 2002 and 2001, respectively. EX-99 5 ex99-3.txt EXHIBIT 99.3 Yardville National Bancorp Summary of Financial Information (Unaudited)
Three Months Ended Twelve Months Ended December 31, December 31, - ------------------------------------------------------------------------------------------------------------------------ (in thousands, except per share amounts) 2002 2001 2002 2001 - ------------------------------------------------------------------------------------------------------------------------ Stock Information: Weighted average shares outstanding: Basic 8,409 7,980 8,124 7,601 Diluted 8,621 8,021 8,319 7,678 Shares outstanding end of period 10,396 8,043 Earnings per share: Basic $ 0.39 $ 0.12 $ 1.72 $ 1.13 Diluted 0.38 0.12 1.68 1.11 Dividends paid per share 0.11 0.11 0.44 0.44 Book value per share 14.08 11.68 Closing price per share 17.24 12.50 Closing price to book 122.44% 107.02% Key Ratios: Return on average assets 0.60% 0.19% 0.67% 0.48% Return on average stockholders' equity 11.50 3.78 13.45 9.86 Net interest margin (tax equivalent) 2.33 2.07 2.36 2.17 Equity-to-assets at period end 6.54 4.80 Tier 1 leverage ratio (1) 8.16 6.92 Asset Quality Data: Net loan charge-offs $ 794 $ 144 $ 1,096 $ 1,317 Nonperforming assets as a percentage of total assets 0.33% 0.38% Allowance for loan losses at period end as a percent of: Total loans 1.41 1.34 Nonperforming loans 268.11 264.23 Nonperforming assets at period end: Nonperforming loans $ 6,274 $ 5,125 Other real estate 1,048 2,329 ---------- ---------- Total nonperforming assets $ 7,322 $ 7,454 ========== ==========
(1) Tier 1 leverage ratio is Tier 1 capital to adjusted average assets -----END PRIVACY-ENHANCED MESSAGE-----