Poplar Bluff, Jan. 27, 2014 (GLOBE NEWSWIRE) -- Highlights:
· Preliminary
fiscal year 2014 second quarter earnings per common share (diluted)
reported at $.73, up from $.72 in the year ago period, as net
income available to common shareholders increased to $2.5 million,
compared to $2.4 million in the year ago period. Earnings per
common share (diluted) were down $.01, as compared to the $.74
earned in the first quarter of fiscal 2014, the linked quarter.
· For the second
quarter of fiscal 2014, the Company generated an annualized return
on average assets of 1.09% and an annualized return on average
common equity of 11.7%, as compared to 1.32% and 12.5%,
respectively, for the same period of the prior fiscal year. In the
first quarter of fiscal 2014, the linked quarter, the annualized
return on average assets was 1.27%, and the annualized return on
average common equity was 12.2%. Profitability was negatively
impacted by charges related to the acquisition and data conversion
of the Bank of Thayer. The transaction closed in October and
systems conversion was completed in December, 2013.
· The Company
posted loan growth of $102.3 million, or 15.6%, during the first
six months of fiscal 2014; deposits increased $97.4 million, or
15.4%. Available-for-sale (AFS) securities were up $33.3 million,
and cash and time deposit balances were up $7.1 million. The
October 2013 acquisition of the Bank of Thayer accounted for $39.4
million in loan growth, $68.2 million in deposit growth, and $34.3
million in AFS securities growth.
· Net interest
margin for the second quarter of fiscal 2014 was 3.83%, down from
the 4.17% reported for the year ago period, and from the net
interest margin of 3.90% for the first quarter of fiscal 2014, the
linked quarter.
· Noninterest
income was up 49.0% for the second quarter of fiscal 2014, compared
to the year ago period, and up 30.1% from the first quarter of
fiscal 2014, the linked quarter. The current period's noninterest
income included $109,000 in realized gains on AFS securities.
· Noninterest
expense was up 40.2% for the second quarter of fiscal 2014,
compared to the year ago period, and up 36.3% from the first
quarter of fiscal 2014, the linked quarter. The current period's
noninterest expense included $563,000 attributable to legal and
data conversion charges related to the acquisition of the Bank of
Thayer, and $57,000 in legal charges related to the acquisition of
Citizens State Bank.
· Non-performing
assets were $4.8 million, or 0.51% of total assets, at December 31,
2013, as compared to $4.6 million, or 0.58% of total assets, at
June 30, 2013. At the previous quarter end, September 30, 2013,
non-performing assets were $3.6 million, or 0.43% of total
assets.
Southern Missouri Bancorp, Inc. ("Company") (NASDAQ: SMBC), the
parent corporation of Southern Bank ("Bank"), today announced
preliminary net income available to common shareholders for the
second quarter of fiscal 2014 of $2.5 million, an increase of
$38,000, or 1.6%, as compared to $2.4 million in the same period of
the prior fiscal year. The increase was attributable to increases
in net interest income and noninterest income, as well as
reductions in provisions for loan losses and income taxes, and was
partially offset by an increase in noninterest expense. Preliminary
net income available to common shareholders was $.73 per fully
diluted common share for the second quarter of fiscal 2014, an
increase of 1.4% as compared to the $.72 per fully diluted common
share earned during the same period of the prior fiscal year.
Preliminary net income available to common shareholders for the
first six months of fiscal 2014 was announced at $5.0 million, an
increase of $156,000, or 3.2%, as compared to $4.8 million in the
same period of the prior fiscal year. The increase was attributable
to increases in net interest income and noninterest income, as well
as reductions in provisions for loan losses and income taxes, and
was partially offset by an increase in noninterest expense.
Preliminary net income available to common shareholders was $1.47
per fully diluted common share for the first six months of fiscal
2014, an increase of 2.8% as compared to the $1.43 per fully
diluted common share earned during the same period of the prior
fiscal year.
Dividend Declared:
The Company is pleased to announce that the Board of Directors,
on January 21, 2014, declared its 79th consecutive
quarterly dividend on common stock since the inception of the
Company. The cash dividend of $.16 per common share will be paid on
February 28, 2014 to common stockholders of record at the close of
business on February 14, 2014. The Board of Directors and
management believe the payment of a quarterly cash dividend
enhances shareholder value and demonstrates our commitment to and
confidence in our future prospects.
Recent Developments:
The Company previously announced on November 7, 2013, the
signing of a definitive merger agreement whereby Citizens State
Bankshares of Bald Knob, Inc., and its subsidiary, Citizens State
Bank, Bald Knob, Arkansas, will be acquired in an all-cash
transaction. The acquired financial institution will be
merged with and into Southern Bank. The transaction is
expected to close in April, 2014.
Conference Call:
The Company will host a conference call to review the
information provided in this press release on Wednesday, January
29, 2014, at 3:30 p.m., CST (4:30 p.m., EST). The call will be
available live to interested parties by calling 1-888-317-6016 in
the United States (Canada: 1-855-669-9657, international:
1-412-317-6016). Telephone playback will be available one hour
following the conclusion of the call, through February 13, 2014.
The playback may be accessed by dialing 1-877-344-7529 (Canada:
1-855-669-9658, international: 1-412-317-0088), and using the
conference passcode 10040314.
Balance Sheet Summary:
The Company experienced balance sheet growth in the first six
months of fiscal 2014, with total assets increasing $153.8 million,
or 19.3%, to $950.2 million at December 31, 2013, as compared to
$796.4 million at June 30, 2013. Balance sheet growth was primarily
due to growth in loan and available-for-sale securities balances.
Balance sheet growth was funded primarily with Federal Home Loan
Bank (FHLB) advances and increases in deposit balances.
Balance sheet growth was attributable primarily to organic loan
growth and the October acquisition of the Bank of Thayer, which
accounted for approximately $74.9 million in asset growth.
Available-for-sale investments increased $33.3 million, or
41.6%, to $113.3 million at December 31, 2013, as compared to $80.0
million at June 30, 2013. The increase was primarily attributable
to the October acquisition of the Bank of Thayer, which included
$34.3 million in securities balances. The increase consisted
of investments in mortgage-backed securities and municipal bonds.
Cash equivalents and time deposits increased $7.1 million, or
51.5%, as compared to June 30, 2013.
Loans, net of the allowance for loan losses, increased $101.6
million, or 15.7%, to $748.7 million at December 31, 2013, as
compared to $647.2 million at June 30, 2013. The increase was
primarily attributable to organic growth and the October
acquisition of the Bank of Thayer, which included $39.4 million in
loans, at fair value. The increase consisted of residential
real estate and commercial real estate loans. The increase in
residential real estate loans was split roughly equally between
1-to-4 family and multi-family collateral.
Non-performing loans were $1.7 million, or 0.22% of gross loans,
at December 31, 2013, as compared to $1.4 million, or 0.22% of
gross loans, at June 30, 2013; non-performing assets were $4.8
million, or 0.51% of total assets, at December 31, 2013, as
compared to $4.6 million, or 0.58% of total assets, at June 30,
2013. Our allowance for loan losses at December 31, 2013, totaled
$9.1 million, representing 1.20% of gross loans and 548% of
non-performing loans, as compared to $8.4 million, or 1.28% of
gross loans, and 584% of non-performing loans, at June 30, 2013.
The increase in non-performing assets was attributable primarily to
foreclosed real estate obtained in the October acquisition of the
Bank of Thayer, consisting mostly of commercial real estate, and
was partially offset by sales of legacy foreclosed real estate. For
one relationship, which accounted for $2.1 million in foreclosed
real estate balances at June 30, 2013, the sale of certain
properties reduced the carrying amount to $1.7 million at December
31, 2013, with that remaining balance comprised entirely of
commercial real estate. For all impaired loans, the Company has
measured impairment under ASC 310-10-35, and management believes
the allowance for loan losses at December 31, 2013, is adequate,
based on that measurement.
Total liabilities increased $150.7 million to $845.2 million at
December 31, 2013, an increase of 21.7% as compared to $694.6
million at June 30, 2013. This growth was attributable to the
October acquisition of the Bank of Thayer, organic deposit growth,
and the use of FHLB advances to fund organic loan growth.
Deposits increased $97.4 million, or 15.4%, to $729.8 million at
December 31, 2013, as compared to $632.4 million at June 30, 2013.
The increase was primarily attributable to the October acquisition
of the Bank of Thayer, which included $68.2 million in deposits, at
fair value, and organic growth. The increase consisted of
interest-bearing checking, certificates of deposit,
noninterest-bearing checking accounts, money market deposit
accounts, and savings accounts. The average loan-to-deposit
ratio for the second quarter of fiscal 2014 was 103.6%, as compared
to 105.8% for the same period of the prior fiscal year.
FHLB advances were $80.9 million at December 31, 2013, an
increase of $56.4 million, or 230.2%, as compared to $24.5 million
at June 30, 2013. The increase was attributable primarily to the
use of overnight borrowings to fund asset growth. Securities sold
under agreements to repurchase totaled $21.8 million at December
31, 2013, as compared to $27.8 million at June 30, 2013, a decrease
of 21.5%. At both dates, the full balance of repurchase agreements
was due to local small business and government counterparties. The
Company has encouraged these counterparties to migrate to a swept
deposit product that places their funds in other FDIC-insured
depositories, while providing funding to our institution under a
reciprocal arrangement, in order to improve the Company's
liquidity.
The Company's stockholders' equity increased $3.2 million, or
3.1%, to $105.0 million at December 31, 2013, from $101.8 million
at June 30, 2013. The increase was due primarily to retention of
net income, partially offset by cash dividends paid on common and
preferred stock, and by a decrease in accumulated other
comprehensive income, as the market value of the available-for-sale
investment portfolio declined, net of tax, as a result of a general
increase in market interest rates.
Income Statement Summary:
The Company's net interest income for the three-month and
six-month periods ended December 31, 2013, was $8.3 million and
$15.7 million, respectively, increases of $1.0 million, or 13.6%,
and $954,000, or 6.5%, respectively, as compared to the same
periods of the prior fiscal year. The increase in the three-month
period was attributable to a 23.6% increase in the average balance
of interest-earning assets, partially offset by a decrease in net
interest margin, from 4.17% to 3.83%. The increase in the six-month
period was attributable to a 16.7% increase in the average balance
of interest-earning assets, partially offset by a decrease in the
net interest margin, from 4.23% to 3.86%.
In December 2010, the Company acquired from the FDIC, as
receiver, most of the assets and assumed substantially all of the
liabilities of the former First Southern Bank, Batesville, Arkansas
(the Acquisition). Accretion of fair value discount on loans and
amortization of fair value premiums on time deposits related to the
Acquisition declined to $168,000 and $372,000, respectively, for
the three- and six-month periods ended December 31, 2013, as
compared to $366,000 and $895,000, respectively, in the same
periods of the prior fiscal year. This component of net
interest income contributed eight and nine basis points,
respectively, to net interest margin in the three- and six-month
periods ended December 31, 2013, as compared to 21 and 26 basis
points, respectively, in the same periods of the prior fiscal
year. The Company expects the impact of the fair value
discount accretion to continue to decline, over time, as the assets
acquired at a discount continue to mature or prepay.
The provision for loan losses for the three- and six-month
periods ended December 31, 2013, was $295,000 and $794,000,
respectively, as compared to $462,000 and $1.1 million,
respectively, in the same period of the prior fiscal year. As a
percentage of average loans outstanding, provision for loan losses
in the current three- and six-month periods represented an
annualized charge of .16% and .23%, respectively, as compared to
.30% and .35%, respectively, for the same periods of the prior
fiscal year. The decrease in the provision was attributed primarily
to low levels of net charge offs, as well as low classified and
delinquent loan balances, partially offset by an increase in loan
balances. Net charge offs for the three-month period ended December
31, 2013, were immaterial, and net charge offs for the six-month
period ended December 31, 2013, were an annualized .03% of average
loans, as compared to 0.13% for both fiscal year 2012 and fiscal
year 2013.
The Company's noninterest income for the three- and six-month
periods ended December 31, 2013, was $1.7 million and $2.9 million,
respectively, increases of $548,000, or 49.0%, and $768,000, or
35.3%, respectively, as compared to the same periods of the prior
fiscal year. The increases were attributed primarily to increased
deposit account charges and fees (resulting from the October 2013
acquisition of the Bank of Thayer, transaction account growth and
increased NSF activity), $109,000 in gains realized on AFS
securities, gains on sales of residential loans into the secondary
market, increased loan fees, and increased bank card interchange
income.
Noninterest expense for the three- and six-month periods ended
December 31, 2013, was $6.2 million and $10.8 million,
respectively, increases of $1.8 million, or 40.2%, and $2.2
million, or 25.8%, respectively, as compared to the same periods of
the prior fiscal year. The increases included $620,000 and
$745,000, respectively, in merger-related charges recognized in the
three- and six-month periods ended December 31, 2013, related to
the completed acquisition of Bank of Thayer and the pending
acquisition of Citizens State Bank, Bald Knob, and were
attributable primarily to legal and professional fees, employee
compensation and benefits, occupancy, advertising,
telecommunications, bank card interchange expense, internet banking
charges, and additional amortization of a core deposit intangible
resulting from the acquisition of the Bank of Thayer. The
efficiency ratio, excluding securities gains or losses, for the
three- and six-month periods ended December 31, 2013, was 63.0% and
58.2%, respectively, as compared to 52.6% and 50.7%, respectively,
for the same periods of the prior fiscal year. The deterioration
resulted from increases of 40.2% and 25.8%, respectively, in
noninterest expense, partially offset by combined 17.0% and 9.5%
increases, respectively, in net interest income and noninterest
income, and was attributable primarily to merger-related charges
and the decreased accretion of fair value discount on loans
resulting from the acquisition.
The income tax provision for the three- and six-month periods
ended December 31, 2013, was $957,000, and $2.0 million, decreases
of $107,000, or 10.1%, and $225,000, or 10.2%, as compared to the
same period of the prior fiscal year. The decreases were attributed
to lower pre-tax income, as well as a decline in the effective tax
rate, to 27.5% and 28.0%, respectively, in the current three- and
six-month periods, as compared to 30.0% and 30.3%, respectively, in
the same periods of the prior fiscal year. The decline in the
effective tax rate was attributed to continued additional
investments in tax-advantaged assets.
Forward-Looking Information:
Except for the historical information contained herein, the
matters discussed in this press release may be deemed to be
forward-looking statements that are subject to known and unknown
risks, uncertainties, and other factors that could cause the actual
results to differ materially from the forward-looking statements,
including: the strength of the United States economy in general and
the strength of the local economies in which we conduct operations;
fluctuations in interest rates and in real estate values; monetary
and fiscal policies of the Board of Governors of the Federal
Reserve System and the U.S. Government and other governmental
initiatives affecting the financial services industry; the risks of
lending and investing activities, including changes in the level
and direction of loan delinquencies and write-offs and changes in
estimates of the adequacy of the allowance for loan losses; our
ability to access cost-effective funding; the timely development of
and acceptance of our new products and services and the perceived
overall value of these products and services by users, including
the features, pricing and quality compared to competitors' products
and services; expected cost savings, synergies and other benefits
from the Company's merger and acquisition activities might not be
realized within the anticipated time frames or at all, and costs or
difficulties relating to integration matters, including but not
limited to customer and employee retention, might be greater than
expected; fluctuations in real estate values and both residential
and commercial real estate market conditions; demand for loans and
deposits in our market area; legislative or regulatory changes that
adversely affect our business; results of examinations of us by our
regulators, including the possibility that our regulators may,
among other things, require us to increase our reserve for loan
losses or to write-down assets; the impact of technological
changes; and our success at managing the risks involved in the
foregoing. Any forward-looking statements are based upon
management's beliefs and assumptions at the time they are made. We
undertake no obligation to publicly update or revise any
forward-looking statements or to update the reasons why actual
results could differ from those contained in such statements,
whether as a result of new information, future events or otherwise.
In light of these risks, uncertainties and assumptions, the
forward-looking statements discussed might not occur, and you
should not put undue reliance on any forward-looking
statements.
| Southern Missouri
Bancorp, Inc. |
| UNAUDITED CONDENSED
CONSOLIDATED FINANCIAL INFORMATION |
| |
|
|
|
|
|
|
| Summary Balance Sheet Data as
of: |
|
|
|
|
December 31, 2013 |
June 30, 2013 |
| |
|
|
|
|
|
|
| Cash equivalents and time deposits |
|
|
|
|
$
20,865,000 |
$
13,769,000 |
| Available for sale (AFS) securities |
|
|
|
|
113,298,000 |
80,004,000 |
| Membership stock |
|
|
|
|
5,273,000 |
3,011,000 |
| Loans receivable, gross |
|
|
|
|
757,815,000 |
655,552,000 |
| Allowance for loan losses |
|
|
|
|
9,085,000 |
8,386,000 |
| Loans receivable, net |
|
|
|
|
748,730,000 |
647,166,000 |
| Bank-owned life insurance |
|
|
|
|
16,726,000 |
16,467,000 |
| Intangible assets |
|
|
|
|
3,667,000 |
1,040,000 |
| Premises and equipment |
|
|
|
|
19,843,000 |
17,516,000 |
| Other assets |
|
|
|
|
21,809,000 |
17,418,000 |
| Total assets |
|
|
|
|
$
950,211,000 |
$
796,391,000 |
| |
|
|
|
|
|
|
| Interest-bearing deposits |
|
|
|
|
$
671,531,000 |
$
586,937,000 |
| Noninterest-bearing deposits |
|
|
|
|
58,260,000 |
45,442,000 |
| Securities sold under agreements to
repurchase |
|
|
|
|
21,801,000 |
27,788,000 |
| FHLB advances |
|
|
|
|
80,888,000 |
24,500,000 |
| Other liabilities |
|
|
|
|
3,022,000 |
2,678,000 |
| Subordinated debt |
|
|
|
|
9,714,000 |
7,217,000 |
| Total liabilities |
|
|
|
|
845,216,000 |
694,562,000 |
| Preferred stock |
|
|
|
|
20,000,000 |
20,000,000 |
| Common stockholders' equity |
|
|
|
|
84,995,000 |
81,829,000 |
| Total stockholders' equity |
|
|
|
|
104,995,000 |
101,829,000 |
| Total liabilities and
stockholders' equity |
|
|
|
|
$
950,211,000 |
$
796,391,000 |
| |
|
|
|
|
|
|
| Equity to assets ratio |
|
|
|
|
11.05% |
12.79% |
| |
|
|
|
|
|
|
| Common shares outstanding |
|
|
|
|
3,300,000 |
3,294,000 |
| Less: Restricted common shares
not vested |
|
|
|
|
32,000 |
32,000 |
| Common shares for book value
determination |
|
|
|
|
3,268,000 |
3,262,000 |
| |
|
|
|
|
|
|
| Book value per common share |
|
|
|
|
$
26.01 |
$
25.09 |
| Closing market price |
|
|
|
|
33.27 |
25.67 |
| |
|
|
|
|
|
|
| Nonperforming asset data as
of: |
|
|
|
|
December 31, 2013 |
June 30, 2013 |
| |
|
|
|
|
|
|
| Nonaccrual loans |
|
|
|
|
$
1,659,000 |
$
1,437,000 |
| Accruing loans 90 days or more past due |
|
|
|
|
- |
- |
| Nonperforming troubled debt restructurings
(1) |
|
|
|
|
- |
- |
| Total nonperforming loans |
|
|
|
|
1,659,000 |
1,437,000 |
| Other real estate owned (OREO) |
|
|
|
|
3,004,000 |
3,030,000 |
| Personal property repossessed |
|
|
|
|
48,000 |
46,000 |
| Nonperforming investment securities |
|
|
|
|
125,000 |
125,000 |
| Total nonperforming assets |
|
|
|
|
$
4,836,000 |
$
4,638,000 |
| |
|
|
|
|
|
|
| Total nonperforming assets to total
assets |
|
|
|
|
0.51% |
0.58% |
| Total nonperforming loans to gross loans |
|
|
|
|
0.22% |
0.22% |
| Allowance for loan losses to nonperforming
loans |
|
|
|
|
547.62% |
583.58% |
| Allowance for loan losses to gross loans |
|
|
|
|
1.20% |
1.28% |
| Performing troubled debt restructurings |
|
|
|
|
$
4,756,000 |
$
4,883,000 |
| |
|
|
|
|
|
|
(1) reported here only
if not otherwise listed as nonperforming (i.e., nonaccrual or 90+
days past due)
|
|
For the
three-month period ended |
For the six-month
period ended |
| Average Balance Sheet
Data: |
December 31,
2013 |
December 31,
2012 |
December 31,
2013 |
December 31,
2012 |
| |
|
|
|
|
| Interest-bearing cash equivalents |
$
6,897,000 |
$
8,350,000 |
$
6,453,000 |
$
10,129,000 |
| AFS securities and membership stock |
124,617,000 |
77,466,000 |
105,669,000 |
76,257,000 |
| Loans receivable, gross |
737,502,000 |
617,495,000 |
700,499,000 |
610,245,000 |
| Total interest-earning
assets |
869,016,000 |
703,311,000 |
812,621,000 |
696,631,000 |
| Other assets |
55,904,000 |
50,471,000 |
52,061,000 |
47,714,000 |
| Total assets |
$
924,920,000 |
$
753,782,000 |
$
864,682,000 |
$
744,345,000 |
| |
|
|
|
|
| Interest-bearing deposits |
$
654,865,000 |
$
527,902,000 |
$
622,098,000 |
$
524,331,000 |
| Securities sold under agreements to
repurchase |
23,478,000 |
26,858,000 |
23,173,000 |
25,713,000 |
| FHLB advances |
73,950,000 |
37,918,000 |
55,348,000 |
36,024,000 |
| Subordinated debt |
9,388,000 |
7,217,000 |
8,302,000 |
7,217,000 |
| Total interest-bearing
liabilities |
761,681,000 |
599,895,000 |
708,921,000 |
593,285,000 |
| Noninterest-bearing deposits |
56,739,000 |
55,519,000 |
50,989,000 |
53,816,000 |
| Other noninterest-bearing liabilities |
2,102,000 |
358,000 |
1,476,000 |
336,000 |
| Total liabilities |
820,522,000 |
655,772,000 |
761,386,000 |
647,437,000 |
| |
|
|
|
|
| Preferred stock |
20,000,000 |
20,000,000 |
20,000,000 |
20,000,000 |
| Common stockholders' equity |
84,398,000 |
78,010,000 |
83,296,000 |
76,908,000 |
| Total stockholders' equity |
104,398,000 |
98,010,000 |
103,296,000 |
96,908,000 |
| |
|
|
|
|
| Total liabilities and
stockholders' equity |
$
924,920,000 |
$
753,782,000 |
$
864,682,000 |
$
744,345,000 |
| |
For the
three-month period ended |
For the six-month
period ended |
| Summary Income Statement
Data: |
December 31,
2013 |
December 31,
2012 |
December 31,
2013 |
December 31,
2012 |
| |
|
|
|
|
| Interest income: |
|
|
|
|
| Cash equivalents |
$
3,000 |
$
11,000 |
$
6,000 |
$
30,000 |
| AFS securities and membership stock |
723,000 |
457,000 |
1,220,000 |
945,000 |
| Loans receivable |
9,512,000 |
8,730,000 |
18,177,000 |
17,584,000 |
| Total interest
income |
10,238,000 |
9,198,000 |
19,403,000 |
18,559,000 |
| Interest expense: |
|
|
|
|
| Deposits |
1,505,000 |
1,497,000 |
2,954,000 |
3,077,000 |
| Securities sold under agreements to
repurchase |
31,000 |
54,000 |
63,000 |
102,000 |
| FHLB advances |
286,000 |
259,000 |
541,000 |
513,000 |
| Subordinated debt |
85,000 |
58,000 |
141,000 |
117,000 |
| Total interest
expense |
1,907,000 |
1,868,000 |
3,699,000 |
3,809,000 |
| Net interest income |
8,331,000 |
7,330,000 |
15,704,000 |
14,750,000 |
| Provision for loan losses |
295,000 |
462,000 |
794,000 |
1,073,000 |
| Securities gains |
109,000 |
- |
109,000 |
- |
| Noninterest income |
1,557,000 |
1,118,000 |
2,837,000 |
2,178,000 |
| Noninterest expense |
6,226,000 |
4,441,000 |
10,793,000 |
8,578,000 |
| Income taxes |
957,000 |
1,065,000 |
1,981,000 |
2,206,000 |
| Net income |
2,519,000 |
2,480,000 |
5,082,000 |
5,071,000 |
| Less: effective dividend on
preferred shares |
50,000 |
50,000 |
100,000 |
245,000 |
| Net income available to common
shareholders |
$
2,469,000 |
$
2,430,000 |
$
4,982,000 |
$
4,826,000 |
| |
|
|
|
|
| Basic earnings per common share |
$
0.75 |
$
0.74 |
$
1.51 |
$
1.47 |
| Diluted earnings per common share |
0.73 |
0.72 |
1.47 |
1.43 |
| Dividends per common share |
0.16 |
0.15 |
0.32 |
0.30 |
| Average common shares outstanding: |
|
|
|
|
| Basic |
3,297,000 |
3,289,000 |
3,295,000 |
3,289,000 |
| Diluted |
3,402,000 |
3,384,000 |
3,389,000 |
3,382,000 |
| |
|
|
|
|
| Return on average assets |
1.09% |
1.32% |
1.18% |
1.36% |
| Return on avg. common shareholders'
equity |
11.7% |
12.5% |
12.0% |
12.6% |
| Net interest margin |
3.83% |
4.17% |
3.87% |
4.23% |
| Net interest spread |
3.71% |
3.98% |
3.74% |
4.05% |
| Efficiency ratio, excluding AFS gains or
losses |
63.0% |
52.6% |
58.2% |
50.7% |
CONTACT: Matt Funke
573.778.1800
