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Financial Reports
View the Financial Reports for:
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CONDENSED STATEMENTS OF OPERATIONS
(unaudited)
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Fourth Quarter
Ended |
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Twelve Months
Ended |
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December 31, |
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December 31, |
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2003 |
2002 |
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2003 |
2002 |
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| ($ in thousands, except per share data) |
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| Interest Income |
$9,261 |
$8,791 |
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$35,916 |
$35,596 |
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| Interest Expense |
1,589 |
2,701 |
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8,697 |
10,718 |
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| Net Interest Income |
7,672 |
6,090 |
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27,219 |
24,878 |
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| Provision for Loan Losses |
800 |
8,820 |
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2,100 |
10,146 |
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Net Interest Income
after
Provision for Loan Losses |
6,872
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(2,730) |
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25,119
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14,732 |
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| Non-Interest Income |
1,221 |
1,218 |
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4,995 |
4,514 |
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| Non-Interest Expense |
3,973 |
1,315 |
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15,385 |
11,955 |
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| Income Before Income Taxes |
4,120 |
(2,827) |
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14,729 |
7,291 |
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| Income Taxes |
1,362 |
(1,307) |
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5,696 |
2,888 |
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| Net Income |
$2,758 |
$(1,520) |
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$9,033 |
$4,403 |
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| Net Income Per Share |
$0.51 |
$(0.28) |
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$1.66 |
$0.82 |
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CONDENSED STATEMENTS OF FINANCIAL CONDITION
(unaudited)
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December 31, |
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2003 |
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2002 |
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($ in thousands) |
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| Assets |
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| Cash and Due From Banks |
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$22,960 |
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$24,351 |
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Federal Funds Sold and Securities
Purchased Under Resale Agreements |
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59,000
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122,000 |
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| Investment Securities |
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155,869 |
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97,961 |
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| Loans and Leases |
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504,053 |
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448,512 |
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| Less: Allowance for Loan Losses |
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(6,168) |
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(9,257) |
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Unearned Income |
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(1,395) |
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(1,212) |
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| Net Loans and Leases |
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496,490 |
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438,043 |
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Other Assets and Accrued Interest
Receivables |
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27,506 |
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23,697 |
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$761,825 |
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$706,052 |
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| Liabilities and Stockholders' Equity |
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| Liabilities: |
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| Deposits |
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$662,812 |
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$614,868 |
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| Acceptances Outstanding |
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5,554 |
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2,944 |
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| Term Borrowings |
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15,000 |
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20,000 |
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Other Liabilities and Accrued Interest
Payable |
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10,723
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8,322 |
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| Total Liabilities |
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694,089 |
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646,134 |
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| Stockholders' Equity |
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67,736 |
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59,918 |
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$761,825 |
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$706,052 |
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