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Financial Highlights

Balance Sheet (Unaudited)

as of March 31, 2017 (in thousands)

Assets: 3/31/17 3/31/16 Change
       
Cash and securities $161,550 $171,065 ($9,515)
Loan receivable, net 1,426,340 1,444,516 (18,176)
Premises and equipment, net 3,993 4,364 (371)
FHLB Stock, at cost 19,102 16,419 2,683
Other Intangible Assets - - -
Other Assets 9,695 9,620 75
       
Total Assets $1,620,680 $1,645,984 ($25,304)
       

 

Liabilities and Stockholders' Equity: 3/31/17 3/31/16 Change
       
Deposits $1,053,760 $1,147,484 ($93,724)
FHLB Advances & other borrowed money 415,128 353,149 61,979
Other Liabilities  8,987 8,213 774
Total Liabilities 1,477,875 1,508,846 (30,971)
Stockholders' Equity 142,805 137,138 5,667
       
Total Liabilities & Stockholders' Equity $1,620,680 $1,645,984 ($25,304)

 

Capital Ratios: 3/31/17 3/31/16 Change
       
Tier 1 Leverage Ratio 8.84% 8.46% 0.38%
Tier 1 Capital Ratio 11.80% 11.84% -0.04%
Total Capital Ratio 13.06% 13.10% -0.04%

 

Statement of Income (Unaudited)

(in thousands)

For the Three Months Ended 3/31/17 3/31/16 Change
       
Interest Income $15,345 $15,038 $307
Interest Expense 2,544 2,455 89
Net Interest Income 12,801 12,583 218
Noninterest Income 2,122 1,269 853
       
Total Revenues $14,923 $13,852 $1,071
       
Noninterest expense 13,451 14,842 (1,391)
Profit before provision for loan losses 1,472 (990) 2,462
Provision for loan losses - - -
Income before income tax and merger expenses $1,472 ($990) $2,462
Income taxes (*) 332 - 332
       
Net Income $1,140 ($990) $2,130

 

(*) A full Valuation Allowance for Deferred Tax Receivables was established in September 2013. Prior to the first quarter of 2017, income taxes were treated as adjustments to the Valuation Allowance for Deferred Tax Receivables. After full utilization of the Valuation Allowance for Deferred Tax Receivables, income tax expense was recorded in the first quarter of 2017.