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Previous: NORTH VALLEY BANCORP, 8-K, EX-99.22, 2000-10-26 |
Next: NORTH VALLEY BANCORP, 8-K, EX-99.24, 2000-10-26 |
<TABLE>
<CAPTION>
NORTH VALLEY BANCORP AND SIX RIVERS NATIONAL BANK
PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS (unaudited)
YEAR ENDED DECEMBER 31, 1999
(IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
NVBANCORP AND
NVBANCORP SRNB SRNB COMBINED
----------- ----------- -------------
<S> <C> <C> <C>
INTEREST INCOME
Loans and leases including fees $ 17,277 $ 9,841 $ 27,118
Other interest income 4,368 4,793 9,161
----------- ----------- -------------
TOTAL INTEREST INCOME 21,645 14,634 36,279
----------- ----------- -------------
INTEREST EXPENSE
Interest on Deposits 8,234 5,418 13,652
Other borrowings 378 378
----------- ----------- --------------
TOTAL INTEREST EXPENSE 8,234 5,796 14,030
----------- ----------- -------------
NET INTEREST INCOME 13,411 8,838 22,249
PROVISION FOR LOAN LOSSES 1,042 220 1,262
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NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 12,369 8,618 20,987
----------- ----------- -------------
NONINTEREST INCOME
Service charges on deposit accounts 2,143 1,172 3,315
Other fees and charges 1,009 1,009
Other 585 459 1,044
----------- ----------- -------------
TOTAL NONINTEREST INCOME 3,737 1,631 5,368
----------- ----------- -------------
NONINTEREST EXPENSE
Salaries and employee benefits 4,814 3,688 8,502
Occupancy & furniture, fixtures and equipment 1,316 1,226 2,542
Merger and integration expense 149 184 333
Other 3,826 3,077 6,903
----------- ----------- -------------
TOTAL NONINTEREST EXPENSES 10,105 8,175 18,280
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INCOME BEFORE PROVISION FOR INCOME TAXES 6,001 2,074 8,075
Provision for income taxes 1,473 858 2,331
----------- ----------- -------------
NET INCOME $ 4,528 $ 1,216 5,744
=========== =========== =============
EARNINGS PER SHARE:(1)
BASIC $ 1.22 $ 0.83 $ 1.00
=========== =========== =============
DILUTED $ 1.21 $ 0.82 $ 0.99
=========== =========== =============
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-BASIC 3,703,000 1,468,000 5,758,000
=========== =========== =============
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-DILUTED 3,744,000 1,476,000 5,810,000
=========== =========== =============
</TABLE>
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