-----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, KVAEXoxbAZKVYBO6zZsmtvfQ1Rm7bX2QBDT2bmFehNRer2/XMYXuvIWIZXi9fTWP xnDSrG3GggD620yuw7K6PQ== 0000909654-05-000132.txt : 20050113 0000909654-05-000132.hdr.sgml : 20050113 20050113150028 ACCESSION NUMBER: 0000909654-05-000132 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050112 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050113 DATE AS OF CHANGE: 20050113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PVF CAPITAL CORP CENTRAL INDEX KEY: 0000928592 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 341659805 STATE OF INCORPORATION: OH FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24948 FILM NUMBER: 05527968 BUSINESS ADDRESS: STREET 1: 30000 AURORA ROAD CITY: SOLON STATE: OH ZIP: 44139 BUSINESS PHONE: 4402487171 MAIL ADDRESS: STREET 1: 30000 AURORA ROAD CITY: SOLON STATE: OH ZIP: 44139 8-K 1 pvf8kjan13-04.txt 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 -------------------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): January 12, 2005 ---------------- PVF Capital Corp. -------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Ohio 0-24948 34-1659805 - -------------------------------- ------------------------ ------------------- (State or Other Jurisdiction Commission File Number (I.R.S. Employer of Incorporation) Identification No.) 30000 Aurora Road, Solon, Ohio 44139 ------------------------------------------------------------------------ (Address of Principal Executive Offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (440) 248-7171 -------------- Not Applicable ----------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 2 ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION --------------------------------------------- On January 12, 2005, PVF Capital Corp. (the "Company") announced its unaudited financial results for the three and six months ended December 31, 2004. For more information, reference is made to the Company's press release dated, January 12, 2005, a copy of which is attached to this Report as Exhibit 99 and is furnished herewith. ITEM 8.01 OTHER EVENTS ------------ On January 12, 2005, the Company announced that the Company's Board of Directors has declared a quarterly cash dividend on the Company's outstanding common stock. The cash dividend will be in the amount of $0.074 per share and will be payable on January 28, 2005 to the stockholders of record at the close of business on January 21, 2005. For further information see the Company's press release dated January 12, 2005, which is incorporated herein by reference and is filed herewith as Exhibit 99. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS --------------------------------- (a) Not applicable. (b) Not applicable. (c) The following exhibit is filed herewith: Exhibit 99 Press Release dated January 12, 2005 3 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 hereunto duly authorized. PVF CAPITAL CORP. Dated: January 12, 2004 By: /s/ John R. Male -------------------------------- John R. Male Chairman of the Board and Chief Executive Officer (Duly Authorized Representative) EX-99 2 pvf8kjan13-05ex99.txt 1 PRESS ANNOUNCEMENT DATE: JANUARY 12, 2005 CONTACT: C. KEITH SWANEY (440) 248-7171 PVF CAPITAL CORP. ANNOUNCES QUARTERLY EARNINGS AND CASH DIVIDEND. PVF Capital Corp., the parent company of Park View Federal Savings Bank, announced earnings of $1,422,000, or $0.20 basic earnings per share and $0.20 diluted earnings per share, for the quarter ended December 31, 2004 as compared to earnings of $1,350,000, or $0.19 basic earnings per share and $0.19 diluted earnings per share, for the prior year comparable period. Earnings were $2,690,000, or $0.38 basic earnings per share and $0.37 diluted earnings per share, for the six-month period ended December 31, 2004 as compared to $4,282,000, or $0.61 basic earnings per share and $0.60 diluted earnings per share, for the prior year comparable period. Commenting on the results, Chairman John R. Male stated "the decrease in earnings for the six-month period ended December 31, 2004 is largely attributable to a decrease in non-interest income. Non-interest income decreased primarily as a result of mortgage banking activities, specifically a decrease in gains on the sale of loans, and from a decline in the sale of real estate owned in the current period. The results of mortgage banking activity in the prior period were attributable to historically low market interest rates and refinancing activity", concluded Mr. Male. As of December 31, 2004, PVF Capital Corp. reported assets of $802.4 million, an increase of $46.7 million or 6.2% from the fiscal year ended June 30, 2004. Total stockholders' equity of PVF Capital Corp. was $64.8 million at December 31, 2004. Annualized return on assets and return on equity were 0.69% and 8.40%, respectively, for the six months ended December 31, 2004. On December 21, 2004, the Board of Directors of PVF Capital Corp. declared a quarterly cash dividend on the Company's outstanding common stock. The cash dividend will be in the amount of $0.074 per share payable on January 28, 2005 to the stockholders of record at the close of business on January 21, 2005. This press release contains statements that are forward-looking, as that term is defined by the Private Securities Litigation Act of 1995 or the Securities and Exchange Commission in its rules, regulations, and releases. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectation regarding important risk factors including, but not limited to, real estate values and the impact of interest rates on financing. Accordingly, actual results may differ from those expressed in the forward-looking statements, and the making of such statements should not be regarded as a representation by the Company or any other person that results expressed therein will be achieved. PVF Capital Corp.'s common stock trades on the NASDAQ Small-Cap market under the symbol PVFC. 2
PVF CAPITAL CORP. 30000 Aurora Road Solon, OH 44139 (440) 248-7171 Summary of Financial Highlights CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) (Dollars in thousands) DECEMBER 31, JUNE 30, 2004 2004 ------------------- ----------------- ASSETS ------ Cash and cash equivalents $ 17,448 $ 17,470 Investment securities 47,500 27,500 Loans and mortgage backed securities 685,263 659,331 Other assets 52,195 51,386 -------- -------- Total Assets $802,406 $755,687 ======== ======== LIABILITIES ----------- Deposits $549,230 $526,493 Borrowed money 164,473 147,526 Other liabilities 23,943 18,307 -------- -------- Total Liabilities 737,646 692,326 -------- -------- Total Stockholders' Equity 64,760 63,361 -------- -------- Total Liabilities and Stockholders' Equity $802,406 $755,687 ======== ========
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED (Dollars in thousands except per share data) DECEMBER 31, DECEMBER 31, ------------------------------------ ------------------------------- 2004 2003 2004 2003 Interest income $10,519 $9,830 $20,553 $19,888 Interest expense 4,737 4,078 9,161 8,388 ------- ------ ------- ------- Net interest income 5,782 5,752 11,392 11,500 Provision for loan losses 0 192 136 292 ------- ------ ------- ------- Net interest income after provision for loan losses 5,782 5,560 11,256 11,208 Total noninterest income 859 868 1,545 4,179 Total noninterest expense 4,577 4,362 8,901 8,900 ------- ------ ------- ------- Income before federal income tax provision 2,064 2,066 3,900 6,487 Federal income tax provision 642 716 1,210 2,205 ------- ------ ------- ------- Net income $ 1,422 $1,350 $ 2,690 $ 4,282 ======= ====== ======= ======= BASIC EARNINGS PER SHARE $ 0.20 $ 0.19 $ 0.38 $ 0.61 ======= ====== ======= ======= DILUTED EARNINGS PER SHARE $ 0.20 $ 0.19 $ 0.37 $ 0.60 ======= ====== ======= =======
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