-----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, CTRvONZNu+OKq5zt2b2E0IuoWH+nGq12Fg9GNvyBtLqr1C/08K+rWilBOPZ0Vd8F txx+HzV9ibxWNxdYajIzFA== 0001177456-03-000109.txt : 20030417 0001177456-03-000109.hdr.sgml : 20030417 20030417163039 ACCESSION NUMBER: 0001177456-03-000109 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030416 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030417 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: 03654539 BUSINESS ADDRESS: STREET 1: 2618 N MORELAND BLVD CITY: CLEVELAND HEIGHTS STATE: OH ZIP: 44120 BUSINESS PHONE: 4109919600 MAIL ADDRESS: STREET 1: 25350 ROCKSIDE ROAD CITY: BEDFORD HEIGHTS STATE: OH ZIP: 44146 8-K 1 pvf8k041603.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 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): April 16, 2003 -------------- PVF CAPITAL CORP. ------------------------------------------------------ (Exact Name of Registrant as Specified in its Charter) Ohio 0-24948 34-1659805 - -------------------------------------------------------------------------------- (State or Other Jurisdiction) (Commission (IRS Employer of Incorporation) File Number) 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) ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS - --------------------------------------------------------------------------- (a) Not applicable (b) Not applicable (c) The following exhibit is filed herewith: Exhibit 99.1 Press Release dated April 16, 2003 ITEM 9. REGULATION FD DISCLOSURE - --------------------------------- On April 16, 2003, PVF Capital Corp. (the "Company") issued a press release announcing its unaudited financial results for the quarter and nine month periods ended March 31, 2003. A copy of the press release is attached to this Report as an exhibit and is incorporated herein by reference. The attached exhibit is furnished pursuant to Item 12 of Form 8-K. 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. Date: April 17, 2003 By:/s/ C. Keith Swaney ----------------------------- C. Keith Swaney President, Chief Operating Officer and Treasurer EX-99 3 pvf8k041603ex99-1.txt EXHIBIT 99.1 EXHIBIT 99.1 PRESS ANNOUNCEMENT DATE: APRIL 16, 2003 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 $2,095,000, or $0.36 basic earnings per share and $0.35 diluted earnings per share, for the quarter ended March 31, 2003 as compared to earnings of $1,763,000, or $0.30 basic earnings per share and $0.30 diluted earnings per share, for the prior year comparable period. Earnings were $6,039,000, or $1.04 basic earnings per share and $1.03 diluted earnings per share, for the nine-month period ended March 31, 2003 as compared to $5,277,000, or $0.91 basic earnings per share and $0.90 diluted earnings per share, for the prior year comparable period. As of March 31, 2003, PVF Capital Corp. reported assets of $695.9 million, an increase of $16.3 million or 2.4% from the fiscal year ended June 30, 2002. Total stockholders' equity of PVF Capital Corp. was $57.0 million at March 31, 2003. Annualized return on assets and return on equity were 1.16% and 14.76%, respectively, for the nine months ended March 31, 2003. On March 25, 2003, 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 May 2, 2003 to the stockholders of record at the close of business on April 25, 2003. 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. 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) MARCH 31, JUNE 30, 2003 2002 -------- -------- ASSETS ------ Cash and cash equivalents $ 13,102 $ 14,314 Investment securities 30,050 55,121 Loans and mortgage backed securities 622,156 582,528 Other assets 30,593 27,657 -------- -------- Total Assets $695,901 $679,620 ======== ======== LIABILITIES - ----------- Deposits $488,263 $479,672 Borrowed money 126,617 129,028 Other liabilities 24,052 18,621 -------- -------- Total Liabilities 638,932 627,321 -------- -------- Total Stockholders' Equity 56,969 52,299 -------- -------- Total Liabilities and Stockholders' Equity $695,901 $679,620 ======== ======== CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
THREE MONTHS ENDED NINE MONTHS ENDED (Dollars in thousands except per share data) MARCH 31, MARCH 31, ----------------- ----------------- 2003 2002 2003 2002 Interest income $10,415 $11,611 $33,119 $37,216 Interest expense 4,740 6,231 15,882 21,121 ------- ------- ------- ------- Net interest income 5,675 5,380 17,237 16,095 Provision for loan losses 0 50 0 403 ------- ------- ------- ------- Net interest income after provision for loan losses 5,675 5,330 17,237 15,692 Total noninterest income 1,597 870 4,185 2,722 Total noninterest expense 4,113 3,548 12,328 10,439 ------- ------- ------- ------- Income before federal income tax provision 3,159 2,652 9,094 7,975 Federal income tax provision 1,064 889 3,055 2,698 ------- ------- ------- ------- Net income $ 2,095 $ 1,763 $ 6,039 $ 5,277 ======= ======= ======= ======= BASIC EARNINGS PER SHARE $ 0.36 $ 0.30 $ 1.04 $ 0.91 ======= ======= ======= ======= DILUTED EARNINGS PER SHARE $ 0.35 $ 0.30 $ 1.03 $ 0.90 ======= ======= ======= =======
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