-----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, VijkX4GS0iwqDyqxlJRJqBP7YwqDY9ChtFfkr3TUq3gtEsaS+GtTfPhTaW23tB0w eWMAxTfn6sdOGHLFRGhrUw== 0000912057-97-027684.txt : 19970815 0000912057-97-027684.hdr.sgml : 19970815 ACCESSION NUMBER: 0000912057-97-027684 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970630 FILED AS OF DATE: 19970814 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: PREMIER FINANCIAL BANCORP INC CENTRAL INDEX KEY: 0000887919 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 611206757 STATE OF INCORPORATION: KY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-20908 FILM NUMBER: 97659810 BUSINESS ADDRESS: STREET 1: 120 N HAMILTON ST STREET 2: P O BOX 9 CITY: GEORGETOWN STATE: KY ZIP: 40324 BUSINESS PHONE: 6067963001 10-Q 1 10-Q SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 1997 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 0-20908 PREMIER FINANCIAL BANCORP, INC. (Exact name of registrant as specified in its charter) KENTUCKY 61-1206757 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 120 N. HAMILTON STREET GEORGETOWN, KENTUCKY 40324 (address of principal executive officer) (Zip Code) Registrant's telephone number (502) 863-7500 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 filing requirements for the past 90 days. Yes X No ------- ------- Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practical date. Common stock - 4,209,090 shares outstanding at August 12, 1997 PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS The accompanying information has not been audited by independent public accountants; however, in the opinion of management such information reflects all adjustments necessary for a fair presentation of the results for the interim period. All such adjustments are of a normal and recurring nature. The accompanying financial statements are presented in accordance with the requirements of Form 10-Q and consequently do not include all of the disclosures normally required by generally accepted accounting principles or those normally made in the registrant's annual Form 10-K filing. Accordingly, the reader of the Form 10-Q may wish to refer to the registrant's Form 10-K for the year ended December 31, 1996 for further information in this regard. Index to consolidated financial statements: Consolidated Balance Sheets ............................... 3 Consolidated Statements of Income.......................... 4 Consolidated Statements of Cash Flows...................... 5 Notes to Consolidated Financial Statements................. 6 Page 2 PREMIER FINANCIAL BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (IN THOUSANDS) June 30 December 31 1997 1996 ASSETS Cash and due from banks $ 9,874 $ 7,134 Federal funds sold 6,289 10,635 Investment securities: Available for sale 168,118 21,827 Held to maturity 21,816 20,993 Loans $ 238,066 $ 219,632 Less: Unearned interest (2,197) (2,045) Allowance for loan losses (2,607) (2,523) ---------- --------- Net loans $ 233,262 $ 215,064 FHLB and Federal Reserve stock 2,252 1,543 Premises and equipment, net 4,636 3,800 Goodwill 5,311 5,490 Other assets 8,810 6,079 ---------- --------- TOTAL ASSETS $ 460,368 $ 292,565 LIABILITIES AND STOCKHOLDERS' EQUITY Deposits: Non-interest bearing $ 24,541 $ 25,031 Time deposits, $100,000 and over 36,536 33,651 Other interest bearing 190,550 176,892 ---------- --------- Total deposits $ 251,627 $ 235,574 Agreements to repurchase securities 120,343 5,599 Federal Home Loan Bank advances 15,450 9,377 Other liabilities 3,016 2,151 ---------- --------- Total liabilities $ 390,436 $ 252,701 Mandatorily redeemable capital securities of subsidiary trust $ 28,750 $ 0 STOCKHOLDERS' EQUITY: Preferred stock, no par value; 1,000,000 shares authorized; none issued or outstanding $ 0 $ 0 Common stock, no par value; 10,000,000 shares authorized; 4,209,090 shares at June 30, 1997 and December 31, 1996, issued and outstanding 978 978 Surplus 32,941 32,941 Retained earnings 7,449 6,112 Net unrealized losses on securities available for sale (186) (167) ---------- --------- Total stockholders' equity $ 41,182 $ 39,864 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 460,368 $ 292,565 See accompanying notes to the consolidated financial statements. Page 3 PREMIER FINANCIAL BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (IN THOUSANDS) (UNAUDITED) Three Months Ended Six Months Ended June 30 June 30 June 30 June 30 1997 1996 1997 1996 INTEREST INCOME: Loans, including fees $ 5,870 $ 3,180 $ 11,340 $ 6,129 Investment securities - Taxable 991 441 1,406 754 Tax-exempt 264 83 503 167 Federal funds sold and other 145 52 331 180 ------- ------- -------- ------- Total interest income $ 7,270 $ 3,756 $ 13,580 $ 7,230 INTEREST EXPENSE: Deposits $ 2,791 $ 1,553 $ 5,435 $ 3,082 Debt and other borrowings 618 43 818 167 Capital Trust securities 184 0 184 0 ------- ------- -------- ------- Total interest expense $ 3,593 $ 1,596 $ 6,437 $ 3,249 Net interest income $ 3,677 $ 2,160 $ 7,143 $ 3,981 Provision for possible loan losses 273 116 457 188 ------- ------- -------- ------- Net interest income after provision for possible loan losses $ 3,404 $ 2,044 $ 6,686 $ 3,793 NON-INTEREST INCOME: Service charges $ 242 $ 177 $ 474 $ 324 Insurance commissions 115 89 235 133 Investment securities gains (losses) 8 0 8 0 Other 225 68 432 195 ------- ------- -------- ------- $ 590 $ 334 $ 1,149 $ 652 NON-INTEREST EXPENSES: Salaries and employee benefits $ 1,199 $ 675 $ 2,427 $ 1,492 Occupancy and equipment expenses 334 156 624 284 Other expenses 698 480 1,363 932 ------- ------- -------- ------- $ 2,231 $ 1,311 $ 4,414 $ 2,708 Income before income taxes $ 1,763 $ 1,067 $ 3,421 $ 1,737 Provision for income taxes 531 320 1,031 492 ------- ------- -------- ------- NET INCOME $ 1,232 $ 747 $ 2,390 $ 1,245 Primary earnings per share $ .29 $ .27 $ .57 $ .53 Fully diluted earnings per share $ .29 $ .27 $ .57 $ .53 Weighted average shares outstanding 4,209 2,802 4,209 2,356 See accompanying notes to the consolidated financial statements. Page 4 PREMIER FINANCIAL BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (IN THOUSANDS) (UNAUDITED) Six Months Ended June 30 June 30 1997 1996 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 2,390 $ 1,245 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 349 101 Provision for loan losses 457 188 Investment securities losses (gains), net (8) 0 Federal Home Loan Bank stock dividends (55) (42) Changes in: Other assets (2,720) 245 Other liabilities 865 (90) ------- -------- Net cash provided by operating activities $ 1,278 $ 1,647 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of investment securities available for sale $(148,875) $(20,730) Proceeds from sales of investment securities available for sale 453 0 Proceeds from maturities of investment securities available for sale 2,107 4,150 Purchases of investment securities held to maturity (3,040) (683) Proceeds from maturities of investment securities held to maturity 2,208 1,045 Purchase of FHLB and Federal Reserve stock (654) (63) Net change in federal funds sold 4,346 1,500 Net change in loans (18,655) (11,506) Purchases of bank premises and equipment (995) (312) -------- --------- Net cash used in investing activities $(163,105) $(26,599) CASH FLOWS FROM FINANCING ACTIVITIES: Net change in deposits $ 16,053 $ 2,360 Net change in agreements to repurchase securities 114,744 (323) Advances from Federal Home Loan Bank, net 6,073 0 Proceeds from issuance of Capital Trust preferred certificates 28,750 0 Repayment of debt 0 (5,000) Net proceeds from issuance of common stock 0 27,125 Dividends paid (1,053) (765) -------- --------- Net cash provided by financing activities $ 164,567 $ 23,397 Net increase (decrease) in cash and cash equivalents $ 2,740 $ (1,555) Cash and cash equivalents at beginning of period 7,134 6,340 -------- --------- CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 9,874 $ 4,785 See accompanying notes to the consolidated financial statements. Page 5 PREMIER FINANCIAL BANCORP, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1. BASIS OF PRESENTATION The consolidated financial statements include the accounts of Premier Financial Bancorp, Inc. (the Corporation) and its wholly-owned subsidiaries, Georgetown Bancorp, Inc., Georgetown, Kentucky, Citizens Deposit Bank & Trust, Vanceburg, Kentucky, Bank of Germantown, Germantown, Kentucky, Citizens Bank, Sharpsburg, Kentucky and Farmers Deposit Bank, Eminence, Kentucky. In addition, the Company has a data processing service subsidiary, Premier Data Services, Inc., Vanceburg, Kentucky and the newly formed PFBI Capital Trust subsidiary discussed in Note 5. All material intercompany transactions and balances have been eliminated. 2. PENDING BUSINESS COMBINATION On May 28, 1997, the Corporation entered into an Agreement and Plan of Merger with The Sabina Bank ("Sabina"), Sabina, Ohio, whereby the Corporation will exchange 476,300 common shares for all the issued and outstanding shares of Sabina in a business combination anticipated to be accounted for as a pooling of interests. At June 30, 1997, Sabina had total assets of $36.6 million and total shareholders' equity of $4.6 million. The share exchange is expected to be completed in the fourth quarter of 1997. Summarized results of operations of the separate companies and on a proforma basis for the six months ended June 30, 1997 and for the year ended December 31, 1996 are as follows: Six Months Ended June 30, 1997 Premier Financial The Sabina Bancorp Bank Proforma (In Thousands) Net interest income after provision for loan losses $ 6,686 $ 753 $ 7,439 Noninterest income 1,149 105 1,254 Noninterest expenses 4,414 696 5,110 Net income $ 2,390 $ 132 $ 2,522 Year Ended December 31, 1996 Premier Financial The Sabina Bancorp Bank Proforma (In Thousands) Net interest income after provision for loan losses $ 10,262 $ 1,404 $ 11,666 Noninterest income 1,484 237 1,721 Noninterest expenses 6,793 1,282 8,075 Net income $ 3,436 $ 288 $ 3,724 Page 6 PREMIER FINANCIAL BANCORP, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 3. INVESTMENT SECURITIES Amortized cost and fair value of investment securities, by category, at June 30, 1997 are summarized as follows: Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available for sale: U. S. Treasury securities $ 102,989 $ 108 $ (5) $ 103,092 U. S. agency securities 22,590 14 (125) 22,479 Obligations of states and political subdivisions 1,229 3 (3) 1,229 Asset-backed securities 38,635 0 (106) 38,529 Preferred stock 2,000 0 0 2,000 Other equity securities 900 0 (111) 789 ---------- ------- -------- --------- Total available for sale $ 168,343 $ 125 $ (350) $ 168,118 Held to maturity: U. S. Treasury securities $ 1,853 $ 3 $ (5) $ 1,851 U. S. agency securities 4,979 12 (20) 4,971 Obligations of states and political subdivisions 14,659 361 (23) 14,997 Asset-backed securities 325 2 (1) 326 ---------- ------- -------- --------- Total held to maturity $ 21,816 $ 378 $ (49) $ 22,145 Amortized cost and fair value of investment securities, by category, at December 31, 1996 are summarized as follows: Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available for sale: U. S. Treasury securities $ 4,098 $ 5 $ (9) $ 4,094 U. S. agency securities 13,440 40 (157) 13,323 Obligations of states and political subdivisions 1,584 40 (2) 1,622 Preferred stock 2,000 0 0 2,000 Other equity securities 900 0 (112) 788 ---------- ------- -------- --------- Total available for sale $ 22,022 $ 85 $ (280) $ 21,827 Page 7 PREMIER FINANCIAL BANCORP, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 3. INVESTMENT SECURITIES (CONTINUED) Amortized Unrealized Unrealized Fair Cost Gains Losses Value Held to maturity: U. S. Treasury securities $ 2,058 $ 6 $ (9) $ 2,055 U. S. agency securitie 6,329 18 (26) 6,321 Obligations of states and political subdivisions 12,190 250 (60) 12,380 Asset-backed securities 416 4 (4) 416 -------- ----- ------ --------- Total held to maturity $ 20,993 $ 278 $ (99) $ 21,172 4. ALLOWANCE FOR LOAN LOSSES Changes in the allowance for loan losses are as follows: Three Months Ended Six Months Ended June 30 June 30 June 30 June 30 1997 1996 1997 1996 Balance, beginning of period $ 2,669 $ 1,790 $ 2,523 $ 1,735 Net charge-offs (335) (35) (373) (52) Provision for loan losses 273 116 457 188 -------- ----- ------ --------- Balance, end of period $ 2,607 $ 1,871 $ 2,607 $ 1,871 5. CAPITAL SECURITIES OF SUBSIDIARY TRUST Mandatorily Redeemable Capital Securities of Subsidiary Trust ("Capital Securities") represent preferred beneficial interests in the assets of PFBI Capital Trust ("Trust"). The Trust holds certain 9.75% junior subordinated debentures due June 30, 2027 issued by the Corporation on June 9, 1997. Distributions on the Capital Securities will be payable at an annual rate of 9.75% of the stated liquidation amount of $25 per Capital Security, payable quarterly. Cash distributions on the Capital Securities are made to the extent interest on the debentures is received by the Trust. In the event of certain changes or amendments to regulatory requirements or federal tax rules, the Capital Securities are redeemable in whole. Otherwise, the Capital Securities are generally redeemable in whole or in part on or after June 30, 2002 at 100% of the liquidation amount. Page 8 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS A. Financial Condition and Results of Operations Net income for the six months ended June 30, 1997 of $2,390,000 or $.57 per share was 92% higher than the $1,245,000 or $.53 per share recorded for the same period in 1996. This increase was due largely to the increase of $3,162,000 in net interest income reflecting the growth in the average assets of the Corporation of approximately $153.6 million to $315.1 million compared to $161.5 million for the same period in 1996. The growth in average assets was the result of the acquisition of Farmers Deposit Bank of Eminence, Kentucky in July, 1996, the issuance of Capital Trust Securities and repurchase agreements near the end of the second quarter of 1997, and the continued growth of the Corporation's other banks. For the three months ended June 30, 1997, net income totaled $1,232,000 or $.29 per share compared to $747,000 or $.27 per share for the same period in 1996. Total assets were $460.4 million at June 30, 1997 compared to $292.6 million at December 31, 1996, an increase of $167.8 million. The increase is attributed to the issuance of Capital Trust Securities ($28.8 million), an increase in repurchase agreements ($115 million) and the growth of the Corporation's subsidiary banks ($24 million). In an effort to minimize the adverse impact on net interest income until a permanent investment is made of the funds from the issuance of the Capital Trust Securities, the Corporation has initiated an investment strategy by selling $115 million of short term (60 days) repurchase agreements at a weighed average interest rate of approximately 5.5% and invested the proceeds in U.S. Treasury and agency securities with a weighted average interest rate of approximately 6.5% and a weighted average life of approximately 3.5 years. The net interest margin for the six months ended June 30, 1997 was 5.01% compared to 5.40% for the first six months of 1996 and 5.32% for all of 1996. The return on average shareholders' equity and return on average assets were 11.8% and 1.52%, respectively, for the six months ended June 30, 1997, compared to 14.7% and 1.54%, respectively for the same period in 1996. Non-interest income increased $497,000 to $1,149,000 for the first six months of 1997 compared to $652,000 for the first six months of 1996. Non-interest income increased $256,000 to $590,000 for the three months ended June 30, 1997 compared to $334,000 for the same period in 1996. The increases are attributed to the growth and expansion of the Corporation's business and its customer base, including higher insurance commissions, income from the sale of loans and an overall increase in service charges. Non-interest income of $415,000 for the six months ended June 30, 1997 and $208,000 for the three months ended June 30, 1997 was recorded at Farmers Deposit Bank, which was acquired effective July 1, 1996. Non-interest expenses were $4,414,000 or 2.80% of average assets on an annualized basis during the first six months of 1997 compared to $2,708,000 or 3.35% of average assets during the same period of 1996. Non-interest expenses increased $920,000 during the three months ended June 30, 1997 to $2,231,000 compared to $1,311,000 for the three months ended June 30, 1996. Salaries and employee benefits increased from $675,000 and $1,492,000 for the three and six months ended June 30, 1996, respectively, to $1,199,000 and $2,427,000 for the three and six months ended June 30, 1997, respectively. Also increasing were other operating expenses from $480,000 and $932,000 for the three and six months ended June 30, 1996 to $498,000 and $1,363,000 for the same periods in 1997, and occupancy expenses from $156,000 and $284,000 for the three and six months ended June 30, 1996 to $334,000 and $624,000 for the three and six months ended June 30, 1997. The increases in non-interest expenses are attributable to the expansion of the Corporation's business, with $584,000 and $1,108,000 representing non-interest expenses incurred at Farmers Deposit Bank for the three and six months ended June 30, 1997. Page 9 The provision for possible loan losses increased from $116,000 for the three months ended June 30, 1996 to $273,000 for the three months ended June 30, 1997 and from $185,000 to $457,000 for the first six months of 1996 compared to 1997. These increases for possible loan losses are in line with the increase in average loans outstanding from $118.18 million for the six months ended June 30, 1996 to $225.5 million for the six months ended June 30, 1997. The allowance for loan losses at June 30, 1997 of $2,607,000 represented 1.11% of total loans outstanding. Income tax expense was $1,031,000 for the first half of 1997 compared to $492,000 for the first half of 1996. Income tax expense for 1997 was higher than 1996 as a result of higher income before taxes and a higher effective tax rate. The effective tax rate for 1997 was 30.1% as compared to 28.3% for the same period in 1996. This higher rate was primarily attributable to the inclusion of amortization of goodwill recorded in connection with the Farmers Deposit Bank acquisition which is non-deductible for tax purposes. Page 10 B. Liquidity Liquidity for a financial institution can be expressed in terms of maintaining sufficient cash flows to meet both existing and unplanned obligations in a cost effective manner. Adequate liquidity allows the Company to meet the demands of both the borrower and the depositor on a timely basis, as well as pursuing other business opportunities as they arise. Thus, liquidity management embodies both an asset and liability aspect. In order to provide for funds on a current and long-term basis, the Company primarily relies on the following sources: 1. Core deposits consisting of both consumer and commercial deposits and certificates of deposit of $100,000 or more. 2. Cash flow generated by repayment of loans and interest. 3. Arrangements with correspondent banks for purchase of unsecured federal funds. 4. The sale of securities under repurchase agreements and borrowing from the Federal Home Loan Bank. 5. Maintenance of an adequate available-for-sale security portfolio. The cash flow statements for the periods presented in the financial statements provide an indication of the Company's sources and uses of cash as well as an indication of the ability of the Company to maintain an adequate level of liquidity. Page 11 C. Capital In June 1997, the Corporation issued $28.8 million of 9.75% Mandatorily Redeemable Capital Securities of Subsidiary Trust. These securities will qualify as Tier I capital up to an amount not to exceed 25% of Tier I capital and the portion that exceeds the 25% limitation will qualify as Tier 2 or supplementary capital of the Corporation. The issuance of these securities and resultant increase in capital will allow the Corporation to target larger financial institutions as potential acquisitions. At June 30, 1997, total shareholders' equity of $41.2 million equaled 8.95% of total consolidated assets. Tier I capital totaled $48.8 million at June 30, 1997, which represents a Tier I leverage ratio of 10.72%. The Company declared a first quarter dividend of $.125 per share, or $526,136, payable March 31, 1997 to shareholders of record as of March 20, 1997 and a second quarter dividend of $.125 per share, or $526,136 payable June 30, 1997 to shareholders of record as of June 24, 1997. Page 12 PART II - OTHER INFORMATION Item 1. Legal Proceedings None Item 2. Changes in Securities None Item 3. Defaults Upon Senior Securities None Item 4. Submission of Matters to a vote of Security Holders (a) Annual meeting of the shareholders was held on May 6, 1997. (b) The following were elected as directors of the Corporation for a term of one year: (1) J. Howell Kelly (2) Marshall T. Reynolds (3) Gardner E. Daniel (4) Toney Adkins (5) Benjamin T. Pugh (6) Wilbur M. Jenkins (7) E.V. Holder, Jr. (c) Ratification of Eskew & Gresham, PSC as independent auditors of the Corporation for 1997. Votes for 3,099,542; votes against 2,000; votes abstaining 1,107,548. (d) None Item 5. Other Information None Item 6. Exhibits and Reports on Form 8-K (a) Exhibits Exhibit No. Description of Document 27 Financial Data Schedules 99 Current Report on Form 8-K dated June 13, 1997 regarding the execution of the Agreement and Plan of Merger dated May 28, 1997 among the Corporation, PFBI Interim Bank and The Sabina Bank, Sabina, Ohio, filed with the Commission and incorporated herein by reference. (b) Reports on Form 8-K Current Report on Form 8-K dated June 13, 1997 regarding the execution of the Agreement and Plan of Merger dated May 28, 1997 among the Corporation, PFBI Interim Bank and The Sabina Bank, Sabina, Ohio, filed with the Commission and incorporated herein by reference. Page 13 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Corporation has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. PREMIER FINANCIAL BANCORP, INC. Date: August 13, 1997 /s/ Marshall T. Reynolds ______________________________ Marshall T. Reynolds Chairman of the Board Date: August 13, 1997 /s/ J. Howell Kelly ______________________________ J. Howell Kelly President & Chief Executive Officer Page 14 EX-27 2 EXHIBIT 27 - FDS
9 1,000 6-MOS DEC-31-1997 JAN-01-1997 JUN-30-1997 9,874 0 6,289 0 168,118 21,816 22,145 235,869 2,607 460,368 251,627 134,202 4,607 28,750 0 0 978 40,204 460,368 11,340 1,909 331 13,580 5,435 6,437 7,143 457 8 4,414 3,421 3,421 0 0 2,390 .57 .57 5.01 796 897 0 0 2,523 472 100 2,607 2,607 0 0 Computed on a tax-equivalent basis.
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