| |
|
BALANCE SHEETS
UNAUDITED - AT JUNE 30, 2008- IN THOUSANDS
 |
| |
Assets:
|
2008
|
2007
|
|
|
| |
 |
Cash
and securities |
$33,231
|
$45,434
|
|
| |
|
Loans
receivable, net |
1,344,550
|
1,273,720
|
|
| |
|
Premises
and equipment, net |
5,510
|
7,588
|
|
| |
|
FHLB
stock, at cost |
19,801
|
19,511
|
|
| |
|
Goodwill
& deferred income taxes |
162,755
|
196,987
|
|
| |
|
Other
assets |
9,169
|
4,994
|
|
|
| |
Total
Assets |
$1,575,016
|
$1,548,234
|
|
|
|
| |
Liabilities and Stockholders' Equity:
|
|
|
|
|
| |
|
Deposits |
$922,041
|
$872,367
|
|
| |
|
Advance payments by borrowers
for taxes & insurance |
5,463
|
5,380
|
|
| |
|
FHLB
Advances & other borrowed money
|
377,658
|
374,905
|
|
| |
|
Other
liabilities |
12,305
|
15,316
|
|
| |
|
Stockholders'
Equity |
257,549
|
280,266
|
|
|
| |
Total
Liabilities & Stockholders' Equity |
$1,575,016
|
$1,548,234
|
|
|
|
| |
Capital Ratios:
|
Actual
06/30/08
|
Federal Requirement
|
|
|
| |
|
Tangible |
7.74%
|
1.50%
|
|
| |
|
Core |
7.74%
|
4.00%
|
|
| |
|
Risk-weighted
|
11.51%
|
8.00%
|
|
|
STATEMENTS OF INCOME
UNAUDITED - FOR THE 6 MONTHS ENDED JUNE 30, 2008- IN THOUSANDS
|
| |
Interest income: |
2008
|
2007
|
|
|
| |
|
Loans
receivable |
$45,403
|
$45,308
|
|
| |
|
Securities
& other interest-earning assets |
996
|
1,011
|
|
|
| |
Total
interest income |
46,399
|
46,319
|
|
|
|
| |
Interest expense: |
|
|
|
|
| |
|
Deposits |
10,152
|
14,351
|
|
| |
|
FHLB
Advances & other borrowed money |
9,366
|
7,448
|
|
|
| |
Total
interest expense |
19,518
|
21,799
|
|
|
| |
| |
Net
interest income |
26,881
|
24,520
|
|
| |
|
Provision
for loan losses |
5,762
|
417
|
|
|
| |
Net
interest income after provision for loan losses |
21,119
|
24,103
|
|
|
|
| |
Noninterest income: |
|
|
|
|
| |
|
Service
charges on deposit accounts |
510
|
316
|
|
| |
|
Other
fees and service charges |
4,656
|
4,041
|
|
|
| |
Total
noninterest income |
5,166
|
4,357
|
|
|
|
| |
Noninterest expenses: |
|
|
|
|
| |
|
Compensation
and benefits |
13,138
|
13,321
|
|
| |
|
Occupancy
and equipment |
3,862
|
3,753
|
|
| |
|
Professional
fees |
1,780
|
1,670
|
|
| |
|
Deposit
insurance premium |
514
|
56
|
|
| |
|
Data
processing |
744
|
644
|
|
| |
|
Other |
451
|
1,224
|
|
|
| |
Total noninterest
expenses |
20,489
|
20,668
|
|
|
| |
| |
Income before income
tax provision and merger entries |
5,796
|
7,792
|
|
| |
| Merger related entries, net |
2,455
|
2,726
|
|
| |
| Income tax provision |
1,411
|
2,112
|
|
|
| |
Net
Income |
1,930
|
2,954
|
|
|
|
|
