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<PAGE>
First Niagara Financial Group, Inc.
Summary of Quarterly Financial Data
Exhibit 99.1
<TABLE>
<CAPTION>
2000
---------------------------------------------------------------------------
As of Third Second First
September 30, Quarter Quarter Quarter
---------------- ---------------- ---------------- ----------------
--------------------------------------------------------------------------------------------------------------------------------
SELECTED FINANCIAL DATA
(Amounts in thousands)
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Total assets $ 2,040,956 2,040,956 1,800,863 1,778,469
Total interest-earning assets $ 1,882,330 1,882,330 1,677,146 1,657,272
Securities, at amortized cost $ 488,563 488,563 489,569 553,433
Loans:
Real estate loans:
One-to four-family $ 805,569 805,569 690,811 673,913
Home equity $ 45,633 45,633 34,220 32,285
Multi-family $ 87,970 87,970 79,372 77,738
Commercial real-estate $ 191,137 191,137 158,156 131,112
Construction $ 32,655 32,655 24,908 28,794
---------------- ---------------- ---------------- ----------------
Total real estate loans $ 1,162,964 1,162,964 987,467 943,842
---------------- ---------------- ---------------- ----------------
Consumer loans:
Mobile home $ 23,457 23,457 24,351 25,337
Recreational vehicle $ 32,657 32,657 26,837 24,765
Automobile $ 66,374 66,374 32,472 25,476
Personal $ 21,689 21,689 15,230 15,349
Home improvement $ 7,484 7,484 7,925 7,885
Guaranteed student $ 14,283 14,283 14,041 14,483
Other consumer $ 995 995 665 332
---------------- ---------------- ---------------- ----------------
Total consumer loans $ 166,939 166,939 121,521 113,627
---------------- ---------------- ---------------- ----------------
Commercial business loans $ 46,794 46,794 33,013 26,237
Net deferred fees $ 1,885 1,885 2,938 3,231
---------------- ---------------- ---------------- ----------------
Total loans $ 1,378,582 1,378,582 1,144,939 1,086,937
Memo items:
Total loans originated $ 321,108 133,169 116,358 71,581
Total loans serviced $ 153,078 153,078 144,891 138,463
Total interest-bearing liabilities $ 1,705,311 1,705,311 1,498,546 1,476,730
Deposits:
Interest-bearing deposits $ 1,373,382 1,373,382 1,185,855 1,162,211
Noninterest-bearing deposits $ 53,922 53,922 37,471 38,438
---------------- ---------------- ---------------- ----------------
Total deposits $ 1,427,304 1,427,304 1,223,326 1,200,649
Short-term borrowings $ 55,478 55,478 75,180 74,588
Long-term borrowings $ 276,451 276,451 237,510 239,931
Stockholders' equity $ 236,021 236,021 228,995 229,947
Fair value adjustment included in
stockholders' equity $ (5,064) (5,064) (8,844) (8,300)
Common shares outstanding:
Basic 24,638 24,638 24,654 25,014
Diluted 24,658 24,658 24,686 25,014
Equity to assets 11.56% 11.56% 12.72% 12.93%
1999
---------------------------------------------------------------------------
As of Fourth Third Second
December 31, Quarter Quarter Quarter
---------------- ---------------- ---------------- ----------------
------------------------------------------------------------------------------------------------------------------------------------
SELECTED FINANCIAL DATA
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
Total assets $ 1,711,712 1,711,712 1,680,087 1,633,018
Total interest-earning assets $ 1,611,313 1,611,313 1,577,171 1,535,963
Securities, at amortized cost $ 578,546 578,546 609,778 646,155
Loans:
Real estate loans:
One-to four-family $ 609,742 609,742 590,184 533,915
Home equity $ 22,499 22,499 20,124 17,873
Multi-family $ 74,652 74,652 71,703 72,886
Commercial real-estate $ 120,758 120,758 117,230 113,248
Construction $ 28,413 28,413 20,453 17,425
---------------- ---------------- ---------------- ----------------
Total real estate loans $ 856,064 856,064 819,694 755,347
---------------- ---------------- ---------------- ----------------
Consumer loans:
Mobile home $ 25,957 25,957 25,991 25,559
Recreational vehicle $ 23,389 23,389 19,304 16,457
Automobile $ 24,289 24,289 20,419 16,358
Personal $ 15,771 15,771 15,841 15,802
Home improvement $ 7,983 7,983 8,292 7,928
Guaranteed student $ 12,564 12,564 12,275 13,522
Other consumer $ 280 280 384 296
---------------- ---------------- ---------------- ----------------
Total consumer loans $ 110,233 110,233 102,506 95,922
---------------- ---------------- ---------------- ----------------
Commercial business loans $ 24,301 24,301 19,209 13,784
Net deferred fees $ 4,892 4,892 5,608 4,938
---------------- ---------------- ---------------- ----------------
Total loans $ 995,490 995,490 947,017 869,991
Memo items:
Total loans originated $ 372,131 90,008 98,692 99,707
Total loans serviced $ 124,578 124,578 121,026 142,137
Total interest-bearing liabilities $ 1,413,798 1,413,798 1,367,354 1,327,100
Deposits:
Interest-bearing deposits $ 1,078,153 1,078,153 1,067,133 1,055,568
Noninterest-bearing deposits $ 35,149 35,149 32,631 32,750
---------------- ---------------- ---------------- ----------------
Total deposits $ 1,113,302 1,113,302 1,099,764 1,088,318
Short-term borrowings $ 90,005 90,005 45,461 45,453
Long-term borrowings $ 245,640 245,640 254,760 226,078
Stockholders' equity $ 232,616 232,616 235,690 239,509
Fair value adjustment included in
stockholders' equity $ (8,893) (8,893) (6,002) (2,090)
Common shares outstanding:
Basic 25,658 25,658 25,954 26,404
Diluted 25,658 25,658 25,954 26,404
Equity to assets 13.59% 13.59% 14.03% 14.67%
---------------------
First
Quarter
---------------------
----------------------------------------------------------------------
SELECTED FINANCIAL DATA
(Amounts in thousands)
----------------------------------------------------------------------
Total assets $ 1,591,000
Total interest-earning assets $ 1,491,837
Securities, at amortized cost $ 673,521
Loans:
Real estate loans:
One-to four-family $ 477,363
Home equity $ 16,255
Multi-family $ 73,142
Commercial real-estate $ 105,009
Construction $ 22,486
----------------
Total real estate loans $ 694,255
----------------
Consumer loans:
Mobile home $ 25,309
Recreational vehicle $ 12,981
Automobile $ 11,633
Personal $ 15,349
Home improvement $ 7,518
Guaranteed student $ 13,967
Other consumer $ 324
----------------
Total consumer loans $ 87,081
----------------
Commercial business loans $ 7,503
Net deferred fees $ 4,786
----------------
Total loans $ 793,625
Memo items:
Total loans originated $ 83,724
Total loans serviced $ 167,116
Total interest-bearing liabilities $ 1,279,641
Deposits:
Interest-bearing deposits $ 1,034,001
Noninterest-bearing deposits $ 30,993
----------------
Total deposits $ 1,064,994
Short-term borrowings $ 45,446
Long-term borrowings $ 200,194
Stockholders' equity $ 249,256
Fair value adjustment included in
stockholders' equity $ 2,494
Common shares outstanding:
Basic 27,241
Diluted 27,241
Equity to assets 15.67%
2000
---------------------------------------------------------------------------
Year-to-Date Third Second First
September 30, Quarter Quarter Quarter
---------------- ---------------- ---------------- ----------------
------------------------------------------------------------------------------------------------------------------------------------
SELECTED AVERAGE BALANCES (4)
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
Total assets $ 1,849,166 2,044,237 1,786,630 1,714,486
Total interest-earning assets $ 1,725,586 1,893,411 1,669,930 1,611,570
Securities, at amortized cost $ 530,719 511,437 515,954 564,979
Loans (1) $ 1,159,551 1,350,402 1,114,528 1,011,626
Interest-bearing liabilities:
Savings accounts $ 321,066 354,858 311,953 296,016
Interest-bearing checking $ 384,700 425,986 378,951 348,709
Certificates of deposits $ 492,530 577,313 467,648 431,696
Mortgagors' payments held in escrow $ 14,224 19,671 12,738 10,201
Other borrowed funds $ 329,044 341,811 317,183 327,999
---------------- ---------------- ---------------- ----------------
Total interest-bearing liabilities $ 1,541,564 1,719,639 1,488,473 1,414,621
Interest-bearing deposits $ 1,212,520 1,377,828 1,171,290 1,086,622
Noninterest-bearing deposits $ 39,199 48,980 35,504 33,005
---------------- ---------------- ---------------- ----------------
Total deposits $ 1,251,719 1,426,808 1,206,794 1,119,627
Short-term borrowings $ 88,527 93,565 80,915 91,060
Long-term borrowings $ 240,517 248,246 236,268 236,939
Stockholders' equity $ 230,351 233,024 227,192 230,809
Common shares outstanding:
Basic 24,913 24,632 24,739 25,377
Diluted 24,923 24,643 24,753 25,377
1999
----------------------------------------------------------------------------
Year-to-Date Fourth Third Second
December 31, Quarter Quarter Quarter
---------------- ---------------- ---------------- ----------------
-----------------------------------------------------------------------------------------------------------------------------
SELECTED AVERAGE BALANCES (4)
(Amounts in thousands)
-----------------------------------------------------------------------------------------------------------------------------
Total assets 1,627,049 1,694,707 1,671,065 1,618,039
Total interest-earning assets 1,526,358 1,584,151 1,580,682 1,518,391
Securities, at amortized cost 614,174 589,707 627,259 654,224
Loans (1) 869,910 961,904 917,658 826,239
Interest-bearing liabilities:
Savings accounts 302,583 297,622 308,467 307,312
Interest-bearing checking 306,628 334,976 320,868 299,028
Certificates of deposits 433,168 430,615 423,590 430,283
Mortgagors' payments held in escrow 10,834 10,984 15,191 10,528
Other borrowed funds 261,515 314,327 296,739 257,693
---------------- ---------------- ---------------- ----------------
Total interest-bearing liabilities 1,314,728 1,388,524 1,364,855 1,304,844
Interest-bearing deposits 1,053,213 1,074,197 1,068,116 1,047,151
Noninterest-bearing deposits 31,921 32,125 31,839 31,511
---------------- ---------------- ---------------- ----------------
Total deposits 1,085,134 1,106,322 1,099,955 1,078,662
Short-term borrowings 41,048 65,844 45,454 45,461
Long-term borrowings 220,466 248,483 251,285 212,232
Stockholders' equity 245,099 236,380 238,182 248,892
Common shares outstanding:
Basic 26,744 25,864 26,225 27,026
Diluted 26,744 25,864 26,225 27,026
----------------
First
Quarter
----------------
--------------------------------------------------------------------
SELECTED AVERAGE BALANCES (4)
(Amounts in thousands)
--------------------------------------------------------------------
Total assets 1,522,004
Total interest-earning assets 1,419,779
Securities, at amortized cost 585,317
Loans (1) 711,219
Interest-bearing liabilities:
Savings accounts 296,859
Interest-bearing checking 270,779
Certificates of deposits 448,487
Mortgagors' payments held in escrow 8,173
Other borrowed funds 175,386
----------------
Total interest-bearing liabilities 1,199,684
Interest-bearing deposits 1,024,298
Noninterest-bearing deposits 30,574
----------------
Total deposits 1,054,872
Short-term borrowings 6,737
Long-term borrowings 168,649
Stockholders' equity 257,247
Common shares outstanding:
Basic 27,888
Diluted 27,888
</TABLE>
<PAGE>
First Niagara Financial Group, Inc.
Summary of Quarterly Financial Data (Cont'd.)
Exhibit 99.1
<TABLE>
<CAPTION>
2000
-----------------------------------------------------------
As of Third Second
September 30, Quarter Quarter
---------------- ---------------- -----------------
------------------------------------------------------------------------------------------------------------------------------------
SELECTED OPERATIONS DATA
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Interest income $ 95,205 35,410 30,836
Interest expense $ 52,422 19,936 16,727
---------------- ---------------- ----------------
Net interest income $ 42,783 15,474 14,109
Provision for credit losses $ 1,515 544 554
---------------- ---------------- ----------------
Net interest income after provision $ 41,268 14,930 13,555
Noninterest income:
Bank service charges and fees $ 5,103 1,941 1,678
Loan fees $ 1,248 498 422
Insurance services and fees $ 12,576 4,244 4,349
Leasing income $ 943 277 369
Bank-owned life insurance earnings $ 1,500 515 504
Annuity and mutual fund commissions $ 1,096 380 421
Net securities gains (losses) $ 19 36 7
Premiums from covered-call options $ 801 211 308
Other $ 1,226 601 275
---------------- ---------------- ----------------
Total noninterest income $ 24,512 8,703 8,333
Noninterest expense:
Salaries and benefits $ 24,510 8,896 8,021
Occupancy and equipment $ 4,054 1,446 1,329
Technology and communications $ 3,939 1,459 1,271
Marketing and advertising $ 2,101 522 886
Other $ 6,653 2,434 2,257
---------------- ---------------- ----------------
Total noninterest expense $ 41,257 14,757 13,764
Income before income taxes and goodwill amortization $ 24,523 8,876 8,124
Income taxes $ 7,964 2,895 2,653
---------------- ---------------- ----------------
Net income before goodwill amortization $ 16,559 5,981 5,471
---------------- ---------------- ----------------
Goodwill amortization $ 1,924 864 609
---------------- ---------------- ----------------
Net income $ 14,635 5,117 4,862
---------------- ---------------- ----------------
------------------------------------------------------------------------------------------------------------------------------------
STOCK AND RELATED PER SHARE DATA
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
Net income per share:
Cash basis:
Basic $ 0.66 0.24 0.22
Diluted $ 0.66 0.24 0.22
GAAP basis:
Basic $ 0.59 0.21 0.20
Diluted $ 0.59 0.21 0.20
Cash dividends $ 0.20 0.07 0.07
Dividend payout ratio 34.05% 33.70% 35.62%
Book value $ 9.58 9.58 9.29
Market price (NASDAQ: FNFG):
High $ 10.38 9.75 10.16
Low $ 8.25 8.50 9.00
Close $ 9.25 9.25 9.38
Treasury shares repurchased 1,093 30 407
------------------------------------------------------------------------------------------------------------------------------------
PERFORMANCE RATIOS (4)
(Annualized)
------------------------------------------------------------------------------------------------------------------------------------
Cash basis:
Return on average assets 1.20% 1.18% 1.25%
Return on average equity 10.92% 12.50% 10.91%
GAAP basis:
Return on average assets 1.06% 1.00% 1.09%
Return on average equity 8.49% 8.74% 8.61%
Yield on interest-earning assets 7.36% 7.48% 7.39%
Rate on interest-bearing liabilities 4.53% 4.60% 4.51%
---------------- ---------------- ----------------
Net interest rate spread 2.83% 2.88% 2.88%
Net interest margin as a percent of
interest-earning assets 3.30% 3.24% 3.39%
As a percentage of average assets(5):
Noninterest income (3) 1.80% 1.72% 1.90%
Noninterest expense (5) 3.03% 2.94% 3.15%
---------------- ---------------- ----------------
Net overhead 1.23% 1.22% 1.25%
Efficiency ratio (5) 61.32% 61.13% 61.44%
Efficiency ratio (includes goodwill amortization) 64.19% 64.71% 64.07%
2000 1999
---------------- ----------------------------------------
First As of Fourth
Quarter December 31, Quarter
---------------- ---------------- ----------------
------------------------------------------------------------------------------------------------------------------------------------
SELECTED OPERATIONS DATA
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
Interest income $ 28,959 107,814 28,401
Interest expense $ 15,759 57,060 15,458
---------------- ---------------- ----------------
Net interest income $ 13,200 50,754 12,943
Provision for credit losses $ 417 2,466 544
---------------- ---------------- ----------------
Net interest income after provision $ 12,783 48,288 12,399
Noninterest income:
Bank service charges and fees $ 1,484 4,816 1,292
Loan fees $ 327 1,684 390
Insurance services and fees $ 3,982 15,723 3,813
Leasing income $ 298 - -
Bank-owned life insurance earnings $ 482 1,581 498
Annuity and mutual fund commissions $ 295 1,382 331
Net securities gains (losses) $ (24) 478 295
Premiums from covered-call options $ 282 1,378 153
Other $ 350 646 118
---------------- ---------------- ----------------
Total noninterest income $ 7,476 27,688 6,890
Noninterest expense:
Salaries and benefits $ 7,593 27,708 7,186
Occupancy and equipment $ 1,279 4,506 1,157
Technology and communications $ 1,208 4,481 1,205
Marketing and advertising $ 693 1,893 413
Other $ 1,962 7,561 2,188
---------------- ---------------- ----------------
Total noninterest expense $ 12,735 46,149 12,149
Income before income taxes and goodwill amortization $ 7,524 29,827 7,140
Income taxes $ 2,416 9,893 2,317
---------------- ---------------- ----------------
Net income before goodwill amortization $ 5,108 19,934 4,823
---------------- ---------------- ----------------
Goodwill amortization $ 452 1,494 374
---------------- ---------------- ----------------
Net income $ 4,656 18,440 4,449
---------------- ---------------- ----------------
------------------------------------------------------------------------------------------------------------------------------------
STOCK AND RELATED PER SHARE DATA
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
Net income per share:
Cash basis:
Basic $ 0.20 0.75 0.19
Diluted $ 0.20 0.75 0.19
GAAP basis:
Basic $ 0.18 0.69 0.17
Diluted $ 0.18 0.69 0.17
Cash dividends $ 0.06 0.14 (2) 0.06 (2)
Dividend payout ratio 32.70% 20.30% (2) 34.88% (2)
Book value $ 9.19 9.07 9.07
Market price (NASDAQ: FNFG):
High $ 10.38 11.13 11.00
Low $ 8.25 9.00 10.13
Close $ 9.75 10.25 10.25
Treasury shares repurchased 656 3,111 308
------------------------------------------------------------------------------------------------------------------------------------
PERFORMANCE RATIOS (4)
(Annualized)
------------------------------------------------------------------------------------------------------------------------------------
Cash basis:
Return on average assets 1.21% 1.24% 1.14%
Return on average equity 9.64% 8.62% 8.59%
GAAP basis:
Return on average assets 1.09% 1.13% 1.04%
Return on average equity 8.11% 7.52% 7.47%
Yield on interest-earning assets 7.19% 7.06% 7.17%
Rate on interest-bearing liabilities 4.47% 4.34% 4.42%
---------------- ---------------- ----------------
Net interest rate spread 2.72% 2.72% 2.75%
Net interest margin as a percent of
interest-earning assets 3.29% 3.33% 3.24%
As a percentage of average assets(5):
Noninterest income (3) 1.78% 1.69% 1.56%
Noninterest expense (5) 3.02% 2.86% 2.87%
---------------- ---------------- ----------------
Net overhead 1.24% 1.17% 1.31%
Efficiency ratio (5) 61.62% 59.19% 62.18%
Efficiency ratio (includes goodwill amortization) 63.70% 61.11% 64.10%
1999
------------------------------------------------------
Third Second First
Quarter Quarter Quarter
---------------- ---------------- ---------------
-------------------------------------------------------------------------------------------------------------------------------
SELECTED OPERATIONS DATA
(Amounts in thousands)
-------------------------------------------------------------------------------------------------------------------------------
Interest income $ 27,893 26,579 24,941
Interest expense $ 14,873 13,852 12,877
---------------- ---------------- ---------------
Net interest income $ 13,020 12,727 12,064
Provision for credit losses $ 554 547 821
---------------- ---------------- ---------------
Net interest income after provision $ 12,466 12,180 11,243
Noninterest income:
Bank service charges and fees $ 1,258 1,201 1,065
Loan fees $ 379 465 450
Insurance services and fees $ 3,959 3,951 4,000
Leasing income $ - - -
Bank-owned life insurance earnings $ 418 335 330
Annuity and mutual fund commissions $ 355 373 323
Net securities gains (losses) $ 1 4 178
Premiums from covered-call options $ 428 293 504
Other $ 230 228 70
---------------- ---------------- ---------------
Total noninterest income $ 7,028 6,850 6,920
Noninterest expense:
Salaries and benefits $ 7,234 6,802 6,486
Occupancy and equipment $ 1,105 1,103 1,141
Technology and communications $ 1,131 1,100 1,045
Marketing and advertising $ 461 511 508
Other $ 1,825 1,807 1,741
---------------- ---------------- ---------------
Total noninterest expense $ 11,756 11,323 10,921
Income before income taxes and goodwill amortization $ 7,738 7,707 7,242
Income taxes $ 2,580 2,633 2,363
---------------- ---------------- ---------------
Net income before goodwill amortization $ 5,158 5,074 4,879
---------------- ---------------- ---------------
Goodwill amortization $ 372 374 374
---------------- ---------------- ---------------
Net income $ 4,786 4,700 4,505
---------------- ---------------- ---------------
-------------------------------------------------------------------------------------------------------------------------------
STOCK AND RELATED PER SHARE DATA
(Amounts in thousands)
-------------------------------------------------------------------------------------------------------------------------------
Net income per share:
Cash basis:
Basic $ 0.20 0.19 0.17
Diluted $ 0.20 0.19 0.17
GAAP basis:
Basic $ 0.18 0.17 0.16
Diluted $ 0.18 0.17 0.16
Cash dividends $ - (2) 0.04 0.04
Dividend payout ratio - (2) 23.00% 24.76%
Book value $ 9.08 9.07 9.15
Market price (NASDAQ: FNFG):
High $ 10.94 10.94 11.13
Low $ 9.69 9.00 9.25
Close $ 10.44 10.63 10.00
Treasury shares repurchased 465 850 1,488
-------------------------------------------------------------------------------------------------------------------------------
PERFORMANCE RATIOS (4)
(Annualized)
-------------------------------------------------------------------------------------------------------------------------------
Cash basis:
Return on average assets 1.24% 1.27% 1.31%
Return on average equity 9.16% 8.68% 8.10%
GAAP basis:
Return on average assets 1.14% 1.17% 1.20%
Return on average equity 7.97% 7.57% 7.10%
Yield on interest-earning assets 7.06% 7.00% 7.03%
Rate on interest-bearing liabilities 4.32% 4.26% 4.35%
---------------- ---------------- ---------------
Net interest rate spread 2.74% 2.74% 2.68%
Net interest margin as a percent of
interest-earning assets 3.27% 3.36% 3.45%
As a percentage of average assets(5):
Noninterest income (3) 1.68% 1.71% 1.81%
Noninterest expense (5) 2.81% 2.83% 2.93%
---------------- ---------------- ---------------
Net overhead 1.13% 1.12% 1.12%
Efficiency ratio (5) 58.64% 57.85% 58.07%
Efficiency ratio (includes goodwill amortization) 60.50% 59.76% 60.06%
</TABLE>
<PAGE>
First Niagara Financial Group, Inc.
Summary of Quarterly Financial Data (Cont'd.)
Exhibit 99.1
<TABLE>
<CAPTION>
2000
---------------------------------------------------------------------------
As of Third Second First
September 30, Quarter Quarter Quarter
---------------- ---------------- ---------------- ----------------
------------------------------------------------------------------------------------------------------------------------------------
RISK-BASED CAPITAL RATIOS
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Tier 1 capital 15.76% 15.76% 19.50% 20.09%
Total capital 16.98% 16.98% 20.68% 21.33%
Leverage capital 9.81% 9.81% 11.99% 12.62%
------------------------------------------------------------------------------------------------------------------------------------
ASSET QUALITY DATA
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
Non-performing loans:
One-to four-family $ 2,536 2,536 1,209 1,325
Home equity $ 47 47 17 54
Commercial real estate and multi-family $ 551 551 487 627
Consumer $ 164 164 42 70
Commercial business $ 266 266 232 159
---------------- ---------------- ---------------- ----------------
Total non-performing loans $ 3,564 3,564 1,987 2,235
Other non-performing assets $ 507 507 238 436
---------------- ---------------- ---------------- ----------------
Total non-performing assets $ 4,071 4,071 2,225 2,671
Allowance for credit losses $ 13,645 13,645 10,991 10,503
Net loan charge-offs $ 428 286 66 76
Total non-performing assets as
percentage of total assets 0.20% 0.20% 0.12% 0.15%
Total non-performing loans to total loans 0.26% 0.26% 0.18% 0.21%
Net charge-offs to average loans 0.04% 0.02% 0.01% 0.01%
Allowance for credit losses to total loans 0.99% 0.99% 0.96% 0.97%
Allowance for credit losses
to non-performing loans 382.85% 382.85% 553.15% 469.93%
------------------------------------------------------------------------------------------------------------------------------------
Personnel FTE 751.00 751.00 671.50 649.50
Number of bank offices 25 25 22 22
1999
----------------------------------------------------------------------------
As of Fourth Third Second
December 31, Quarter Quarter Quarter
---------------- ---------------- ---------------- ----------------
------------------------------------------------------------------------------------------------------------------------------------
RISK-BASED CAPITAL RATIOS
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
Tier 1 capital 22.40% 22.40% 22.88% 24.07%
Total capital 23.56% 23.56% 24.00% 25.27%
Leverage capital 13.51% 13.51% 13.71% 14.19%
------------------------------------------------------------------------------------------------------------------------------------
ASSET QUALITY DATA
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
Non-performing loans:
One-to four-family 974 974 926 895
Home equity 130 130 132 71
Commercial real estate and multi-family 640 640 641 693
Consumer 33 33 145 76
Commercial business 152 152 152 184
---------------- ---------------- ---------------- ----------------
Total non-performing loans 1,929 1,929 1,996 1,919
Other non-performing assets 1,073 1,073 1,017 1,039
---------------- ---------------- ---------------- ----------------
Total non-performing assets 3,002 3,002 3,013 2,958
Allowance for credit losses 9,862 9,862 9,526 9,118
Net loan charge-offs 614 208 146 159
Total non-performing assets as
percentage of total assets 0.18% 0.18% 0.18% 0.18%
Total non-performing loans to total loans 0.19% 0.19% 0.21% 0.22%
Net charge-offs to average loans 0.07% 0.02% 0.02% 0.02%
Allowance for credit losses to total loans 0.99% 0.99% 1.01% 1.05%
Allowance for credit losses
to non-performing loans 511.27% 511.27% 477.26% 475.14%
------------------------------------------------------------------------------------------------------------------------------------
Personnel FTE 624.50 624.50 635.00 606.00
Number of bank offices 18 18 18 18
----------------
First
Quarter
----------------
------------------------------------------------------------------------
RISK-BASED CAPITAL RATIOS
(Amounts in thousands)
------------------------------------------------------------------------
Tier 1 capital 26.08%
Total capital 27.29%
Leverage capital 15.30%
------------------------------------------------------------------------
ASSET QUALITY DATA
(Amounts in thousands)
------------------------------------------------------------------------
Non-performing loans:
One-to four-family 1,162
Home equity 71
Commercial real estate and multi-family 597
Consumer 57
Commercial business 123
----------------
Total non-performing loans 2,010
Other non-performing assets 955
----------------
Total non-performing assets 2,965
Allowance for credit losses 8,730
Net loan charge-offs 101
Total non-performing assets as
percentage of total assets 0.19%
Total non-performing loans to total loans 0.26%
Net charge-offs to average loans 0.01%
Allowance for credit losses to total loans 1.10%
Allowance for credit losses
to non-performing loans 434.31%
------------------------------------------------------------------------
Personnel FTE 588.00
Number of bank offices 18
----------------------------------------------------
</TABLE>
(1) Net of deferred loan fees and expenses, loan discounts and
loans-in-process.
(2) In order to coincide with the Company's Board of Director's review of
quarterly results, the dividend declaration date for the third quarter of
1999 was scheduled during the fourth quarter of 1999. Correspondingly, the
dividend declaration date for the fourth quarter of 1999 was scheduled
during the first quarter of 2000. During 1999, three quarterly dividends
were declared.
(3) Excluding net gain/loss on sale of securities available for sale.
(4) Averages presented are daily averages.
(5) Excludes the impact of goodwill.
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