-----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, LkVvwJY9zPzWbE9esOLXkvt9N0Qx/95TMYkRObA6ECHotP0OE1pcJjWzc4XphORt XDMGL1VJznjVG6hSQ0G91w== 0000812712-95-000017.txt : 19951213 0000812712-95-000017.hdr.sgml : 19951213 ACCESSION NUMBER: 0000812712-95-000017 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19950831 FILED AS OF DATE: 19951212 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: WATERHOUSE INVESTOR SERVICES INC CENTRAL INDEX KEY: 0000812712 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 133400568 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-10983 FILM NUMBER: 95600966 BUSINESS ADDRESS: STREET 1: 100 WALL STREET CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 2128063500 MAIL ADDRESS: STREET 1: 100 WALL ST CITY: NEW YORK STATE: NY ZIP: 10005 10-K/A 1 16 WATERHOUSE INVESTOR SERVICES, INC. AND SUBSIDIARIES INVESTMENT PORTFOLIO MATURITIES AT AUGUST 31, 1995 ($000)
(Securities Held To Maturity) --------------------------- Estimated Amortized Market Weighted Average Cost Value Yield To Maturity ---- ----- ----------------- U.S. Treasury bills - ------------------- In one year or less $7,018 $7,029 5.92% U.S. agencies - ------------- In one year or less 102,496 102,477 5.83% After one year through five years 35,192 35,186 5.86% ------ ------ 137,688 137,663 5.83% Over investments - ---------------- In one year or less 1,000 1,000 6.20% ------- ------- Total held to maturity portfolio 145,706 145,692 5.84% Federal Reserve Bank Stock 810 810 n/a -------- -------- Total investment portfolio $146,516 $146,502 5.84% ======== ========
KEY FINANCIAL RATIOS FOR THE YEAR ENDED AUGUST 31, 1995
Return on assets 4.7% Return on equity 32.9% Dividend payout ratio 11.9% Equity to assets 14.2%
Average balances were computed on a month-end basis. 28 Waterhouse Investor Services, Inc. and Subsidiaries Consolidated Statements of Cash Flows
Year Ended August 31, --------------------------------------- 1995 1994 1993 ---- ---- ---- CASH FLOWS FROM OPERATING ACTIVITIES: Net Income $19,357,226 $15,726,483 $14,356,870 Non cash items included in net income: Depreciation 2,313,420 1,724,872 799,570 Debt issuance cost 140,472 199,583 --- Increase (decrease) in allowance for doubtful accounts 107,821 (81,382) 56,449 (Increase) in operating assets: Receivable from brokers and dealers (877,076) (2,341,783) (4,134,108) Receivable from customers (93,260,298) (56,756,748) (86,285,543) Deposits with clearing organizations (857,051) (760,030) (1,012,769) Other assets (7,307,297) (885,446) (773,183) Increases (decreases) in operating liabilities: Broker loans and overdrafts (36,600,215) (22,664,555) 24,911,170 Deposits received for securities loaned 95,540,652 7,085,722 3,007,345 Payable to brokers and dealers (734,065) 717,698 3,369,693 Payable to customers 29,947,472 25,341,086 39,713,071 Accounts payable, taxes payable, accrued expenses, and other liabilities 13,063,271 1,395,618 5,996,493 ---------- --------- --------- CASH PROVIDED BY (USED IN)OPERATING ACTIVITIES 20,834,332 (31,298,882) 5,058 ---------- ---------- ----- CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of furniture and equipment (1,647,592) (4,840,345) (3,185,459) Interest bearing deposits with other banks (50,000,000) --- --- Federal funds sold (54,100,000) --- --- Investment securities purchased (342,024,862) (7,532,305) --- Proceeds from maturities of investment securities 203,041,130 --- --- ----------- ---------- --------- CASH (USED IN) INVESTING ACTIVITIES: (244,731,324) (12,372,650) (3,185,459) ----------- ---------- --------- CASH FLOWS FROM FINANCING ACTIVITIES: 6% Convertible Subordinated Notes --- 48,500,000 --- Interest bearing deposits 231,046,433 --- --- Debt issuance costs --- (1,499,000) --- Deferred compensation - ESOP --- --- 287,856 Cash dividends paid (1,830,736) (1,521,494) (972,050) Exercise of stock options and warrants 42,506 114,544 42,045 Federal income tax credit - stock options --- --- 1,398,433 --------- --------- --------- CASH PROVIDED BY FINANCING ACTIVITIES 229,258,203 45,594,050 756,284 ----------- ---------- ------- INCREASE (DECREASE) IN CASH AND DUE FROM BANKS 5,361,211 1,922,518 (2,424,117) CASH AND DUE FROM BANKS, beginning of year 7,728,832 5,806,314 8,230,431 --------- --------- --------- CASH AND DUE FROM BANKS, end of year $13,090,043 $7,728,832 $5,806,314 =========== ========== ========== SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION Cash paid for interest $11,608,903 $5,024,724 $2,771,423 =========== =========== ========== Cash paid for income taxes $12,590,306 $10,790,699 $8,246,613 =========== =========== ==========
The accompanying notes are an integral part of these consolidated financial statements. -----END PRIVACY-ENHANCED MESSAGE-----