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Previous: FEDERATED STOCK TRUST, 497, 1998-10-29 |
Next: NOONEY REAL PROPERTY INVESTORS FOUR L P, PREC14A, 1998-10-29 |
<PAGE>
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-KSB/A
(Mark One)
[X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the fiscal year ended: December 31, 1997
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from to
---------------- ----------------
Commission file number 0-11090
--------------------------------------------
- -------------------------------------------------------------------------
NAPA NATIONAL BANCORP
(Name of small business issuer in its charter)
California 94-2780134
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
901 Main Street, Napa, California 94559
(Address of Principal executive offices)
Issuer's telephone number: (707) 259-2440
Securities registered under Section 12(b) of the Exchange Act:
Title of each class Name of each exchange on which registered
None N/A
Securities registered under Section 12(g) of the Exchange Act:
Common Stock, Without Par Value
(Title of class)
Check whether the issuer (1) fled all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirement for the past 90 days.
Yes X No
----- -----
Check if there is no disclosure of delinquent filers in response to Item
405 of Regulation S-B is not contained in this form, and no disclosure will be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB.
State issuer's revenues for its most recent fiscal year: $10,815,000
1
<PAGE>
State the aggregate market value of the voting and non-voting common equity
held by non-affiliates computed by reference to the price at which the common
equity was sold, or the average bid and asked price of such common equity, as of
a specified date within the past 60 days. (See definition of affiliate in Rule
12b-2 of the Exchange Act.)
Aggregate market value of voting stock and non-voting stock held by non-
affiliates of the registrant, based on a market value of $16.00 per share as of
February 28, 1998: $2,882,400
State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date. February 28, 1998: 783,500.
DOCUMENTS INCORPORATED BY REFERENCE
Portions of Registrant's Definitive Proxy Statement for Registrant's 1998 Annual
Meeting of Shareholders are incorporated by reference into Part III of this
report.
Transitional Small Business Disclosure Format (check one):
Yes No X
------- -------
2
<PAGE>
Napa National Bancorp (the "Corporation") hereby amends its Annual Report on
Form 10-KSB for the year ended December 31, 1997, to include [Amended and]
Restated Financial Data Schedules for the years ended December 31, 1996 and
1995, and for the first, second, third quarters of 1996 and 1997. The Amendment
No. 2 is being filed as a result of the Corporation's adoption of Statement of
Financial Accounting Standards No. 128, "Earnings Per Share", and the
restatement of income and expense items to reflect year to date totals.
Accordingly, the undersigned registrant hereby files the following exhibits as
set forth in the pages attached hereto:
Exhibit 27.1 [Amended and] Restated Financial Data Schedules restated for
the Years Ended December 31, 1996 and December 31, 1995.
Exhibit 27.2 [Amended and] Restated Financial Data Schedule restated for
the periods ended March 31, 1997, June 30, 1997 and September 30, 1997.
Exhibit 27.3 [Amended and] Restated Financial Data Schedule restated for
the periods ended March 31, 1996, June 30, 1996 and September 30,1996.
SIGNATURES
In accordance with Section 13 or 15(d) of the Exchange Act, the registrant
has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
Dated: October 23, 1998.
NAPA NATIONAL BANCORP
By /s/ Brian J. Kelly
President/COO
By /s/ Michael D. Irwin
Chief Financial Officer
(Principal Accounting Officer)
3
<PAGE>
In accordance with the Exchange Act, this report has been signed below by
the following persons on behalf of the registrant and in the capacities and on
the dates indicated.
October 23, 1998
/s/ William A. Bacigalupi*
Director
October 23, 1998
/s/ Dennis D. Groth*
Director
October 23, 1998
/s/ E. James Hedemark*
Director
October 23, 1998
/s/ Michael D. Irwin
Director
Chief Financial Officer
(Principal Accounting Officer)
October 23, 1998
/s/ Brian J. Kelly
President and COO
Director
October 23, 1998
/s/ C. Richard Lemon*
Secretary and Director
October 23, 1998
/s/ Joseph G. Peatman*
Director
October 23, 1998
/s/ A. Jean Phillips*
Director
October 23, 1998
/s/ George M. Schofield*
Director
October 23, 1998
/s/ W. Clarke Swanson, Jr.*
Chairman of the Board and CEO
October 23, 1998
* By /s/ Brian J. Kelly
Attorney-in-Fact
By Power of Attorney
Previously Filed with the Commission
4
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 9
<LEGEND>
This schedule contains summary financial information extracted from Napa
National Bancorp consolidated Balance Sheets as of December 31, 1996 and
December 31, 1995 and consolidated statement of income for the years ended
December 31, 1996 and December 31, 1995 and is qualified in its entirety by
reference to such consolidated financial statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> DEC-31-1996 DEC-31-1995
<PERIOD-START> JAN-01-1996 JAN-01-1995
<PERIOD-END> DEC-31-1996 DEC-31-1995
<CASH> 7,929 7,106
<INT-BEARING-DEPOSITS> 4,158 4,356
<FED-FUNDS-SOLD> 16,550 14,780
<TRADING-ASSETS> 0 0
<INVESTMENTS-HELD-FOR-SALE> 0 0
<INVESTMENTS-CARRYING> 2,277 1,432
<INVESTMENTS-MARKET> 2,304 1,447
<LOANS> 79,695 74,699
<ALLOWANCE> 1,405 1,325
<TOTAL-ASSETS> 113,827 104,851
<DEPOSITS> 105,417 96,752
<SHORT-TERM> 0 0
<LIABILITIES-OTHER> 439 652
<LONG-TERM> 0 0
0 0
0 0
<COMMON> 6,915 6,915
<OTHER-SE> 1,056 532
<TOTAL-LIABILITIES-AND-EQUITY> 113,827 104,851
<INTEREST-LOAN> 8,277 7,515
<INTEREST-INVEST> 119 83
<INTEREST-OTHER> 777 834
<INTEREST-TOTAL> 9,173 8,432
<INTEREST-DEPOSIT> 2,814 2,634
<INTEREST-EXPENSE> 2,814 2,634
<INTEREST-INCOME-NET> 6,359 5,798
<LOAN-LOSSES> 550 323
<SECURITIES-GAINS> 0 0
<EXPENSE-OTHER> 5,099 4,409
<INCOME-PRETAX> 1,516 1,866
<INCOME-PRE-EXTRAORDINARY> 1,516 1,101
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 902 1,101
<EPS-PRIMARY> 1.20 1.46
<EPS-DILUTED> 1.13 1.35
<YIELD-ACTUAL> 6.62 6.86
<LOANS-NON> 3,152 1,447
<LOANS-PAST> 0 0
<LOANS-TROUBLED> 0 0
<LOANS-PROBLEM> 0 377
<ALLOWANCE-OPEN> 1,325 1,050
<CHARGE-OFFS> 544 51
<RECOVERIES> 74 3
<ALLOWANCE-CLOSE> 1,405 1,325
<ALLOWANCE-DOMESTIC> 1,405 1,325
<ALLOWANCE-FOREIGN> 0 0
<ALLOWANCE-UNALLOCATED> 0 155
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 9
<LEGEND>
This schedule contains summary financial information extracted from Napa
National Bancorp consolidated Balance Sheet as of March 31, 1997, June 30, 1997
and September 30, 1997 and condensed consolidated statements of income for the
three months ended March 31, 1997, for the six months ended June 30, 1997 and
the nine months ended September 30, 1997 and is qualified in its entirety by
reference to such consolidated financial statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS
<FISCAL-YEAR-END> DEC-31-1997 DEC-31-1997 DEC-31-1997
<PERIOD-START> JAN-01-1997 JAN-01-1997 JAN-01-1997
<PERIOD-END> MAR-31-1997 JUN-30-1997 SEP-30-1997
<CASH> 7,040 6,413 8,005
<INT-BEARING-DEPOSITS> 4,158 4,158 3,267
<FED-FUNDS-SOLD> 17,180 20,260 17,595
<TRADING-ASSETS> 0 0 0
<INVESTMENTS-HELD-FOR-SALE> 0 0 0
<INVESTMENTS-CARRYING> 2,287 1,723 1,824
<INVESTMENTS-MARKET> 2,289 1,696 1,815
<LOANS> 79,793 80,847 85,004
<ALLOWANCE> 1,478 1,493 1,530
<TOTAL-ASSETS> 113,547 117,136 119,939
<DEPOSITS> 105,161 108,417 110,853
<SHORT-TERM> 0 0 0
<LIABILITIES-OTHER> 418 597 710
<LONG-TERM> 0 0 0
0 0 0
0 0 0
<COMMON> 6,975 7,007 7,086
<OTHER-SE> 0 1,115 1,290
<TOTAL-LIABILITIES-AND-EQUITY> 113,547 117,136 119,939
<INTEREST-LOAN> 1,866 4,030 6,253
<INTEREST-INVEST> 311 62 96
<INTEREST-OTHER> 0 555 866
<INTEREST-TOTAL> 2,177 4,647 7,215
<INTEREST-DEPOSIT> 757 1,514 2,287
<INTEREST-EXPENSE> 757 1,514 2,287
<INTEREST-INCOME-NET> 1,420 3,133 4,928
<LOAN-LOSSES> 102 204 306
<SECURITIES-GAINS> 0 0 0
<EXPENSE-OTHER> 1,455 2,974 4,474
<INCOME-PRETAX> 54 421 876
<INCOME-PRE-EXTRAORDINARY> 54 421 876
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> 32 250 520
<EPS-PRIMARY> .04 .33 .68
<EPS-DILUTED> .04 .31 .63
<YIELD-ACTUAL> 5.457 6.035 6.223
<LOANS-NON> 4,197 3,087 3,149
<LOANS-PAST> 0 397 319
<LOANS-TROUBLED> 0 0 0
<LOANS-PROBLEM> 0 0 0
<ALLOWANCE-OPEN> 1,405 1,405 1,405
<CHARGE-OFFS> 30 120 192
<RECOVERIES> 1 4 12
<ALLOWANCE-CLOSE> 1,478 1,493 1,530
<ALLOWANCE-DOMESTIC> 1,478 1,493 1,530
<ALLOWANCE-FOREIGN> 0 0 0
<ALLOWANCE-UNALLOCATED> 0 0 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 9
<LEGEND>
This schedule contains summary financial information extracted from Napa
National Bancorp consolidated Balance Sheet as of March 31, 1996, June 30, 1996
and September 30, 1996 and condensed consolidated statements of income for the
three months ended March 31, 1996, for the six months ended June 30, 1996 and
the nine months ended September 30, 1996 and is qualified in its entirety by
reference to such consolidated financial statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS
<FISCAL-YEAR-END> DEC-31-1996 DEC-31-1996 DEC-31-1996
<PERIOD-START> JAN-01-1996 JAN-01-1996 JAN-01-1996
<PERIOD-END> MAR-31-1996 JUN-30-1996 SEP-30-1996
<CASH> 5,781 5,800 6,881
<INT-BEARING-DEPOSITS> 4,356 4,158 4,158
<FED-FUNDS-SOLD> 8,040 5,370 10,630
<TRADING-ASSETS> 0 0 0
<INVESTMENTS-HELD-FOR-SALE> 215 530 549
<INVESTMENTS-CARRYING> 1,724 1,725 1,723
<INVESTMENTS-MARKET> 1,726 1,727 1,727
<LOANS> 74,982 79,946 79,569
<ALLOWANCE> 1,343 1,449 1,526
<TOTAL-ASSETS> 97,618 99,806 106,226
<DEPOSITS> 89,673 91,655 97,791
<SHORT-TERM> 0 0 0
<LIABILITIES-OTHER> 340 312 447
<LONG-TERM> 0 0 0
0 0 0
0 0 0
<COMMON> 6,915 6,915 6,915
<OTHER-SE> 690 924 1,073
<TOTAL-LIABILITIES-AND-EQUITY> 97,618 99,806 106,226
<INTEREST-LOAN> 2,008 4,185 6,297
<INTEREST-INVEST> 25 54 81
<INTEREST-OTHER> 215 339 533
<INTEREST-TOTAL> 2,248 4,578 6,911
<INTEREST-DEPOSIT> 735 1,384 2,087
<INTEREST-EXPENSE> 735 1,384 2,087
<INTEREST-INCOME-NET> 1,513 3,194 4,824
<LOAN-LOSSES> 72 179 308
<SECURITIES-GAINS> 0 0 0
<EXPENSE-OTHER> 1,211 2,451 3,743
<INCOME-PRETAX> 427 975 1,385
<INCOME-PRE-EXTRAORDINARY> 427 975 1,385
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> 252 580 824
<EPS-PRIMARY> .33 .77 1.09
<EPS-DILUTED> .31 .72 1.02
<YIELD-ACTUAL> 6.548 6.973 6.856
<LOANS-NON> 2,105 1,705 2,531
<LOANS-PAST> 0 296 296
<LOANS-TROUBLED> 0 0 0
<LOANS-PROBLEM> 2,886 0 0
<ALLOWANCE-OPEN> 1,325 1,325 1,325
<CHARGE-OFFS> 54 55 178
<RECOVERIES> 0 0 71
<ALLOWANCE-CLOSE> 1,343 1,449 1,526
<ALLOWANCE-DOMESTIC> 1,343 1,449 1,526
<ALLOWANCE-FOREIGN> 0 0 0
<ALLOWANCE-UNALLOCATED> 144 156 27
</TABLE>
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