March 26, 1997
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington D.C. 20549
Re: Britton & Koontz Capital Corporation
Current Report on Form 8-K
Commission File No.0-22606
Ladies and Gentlemen:
Pursuant to rules and regulations adopted under the securities
Exchange Act of 1934, as amended (the "Act"), transmitted hereby
for filing on behalf of Britton & Koontz Capital Corporation (the
"Company"), is a Current Report on Form 8-K.
Please call the undersigned at (601)445-5576 if you have any
questions concerning this filing.
Very truly yours,
/s/ WILLIAM M. SALTERS
William M. Salters
Vice President/Controller
Enclosure
cc: W. Page Ogden
Bazile R. Lanneau
Gary Meringer
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: March 26, 1997
Commission File Number 0-22606
BRITTON & KOONTZ CAPITAL CORPORATION
(Exact name of issuer as specified in its charter)
64-0665423
Mississippi (IRS Employer
(State of Incorporation) Identification No.)
500 Main Street, Natchez, Mississippi 39120
(Address of principal executive offices)
Telephone: (601)445-5576
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INDEX
_________
Item 5. Other Events
The contents of Exhibit 20 to this Form 8-K are hereby
incorporated herein by this reference.
Item 7. Financial Statements, Pro forma Financial Information and Exhibits.
(c.) Exhibits
20 Other Documents or Statements to Security Holders
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Exhibits Index
________________
Exhibit
Number Item
_______ _____
20 Other Documents or Statements to Security Holders
Press Release Dated February 18, 1997
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereto duly authorized.
BRITTON & KOONTZ CAPITAL CORPORATION
March 26, 1997 /s/ W. Page Ogden
W. Page Ogden
President and Chief Executive
Officer
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Exhibit 20
____________
Britton & Koontz Capital Corporation
500 Main Street
P O Box 1407
Natchez, MS 39121
601-445-5576
601-445-2488 Fax
http://www.bkbank.com
[email protected]
FOR IMMEDIATE RELEASE: FOR MORE INFORMATION:
February 18, 1997 W. Page Ogden, President & CEO
for ticker BKBK Bazile R. Lanneau, Jr., Vice President
BRITTON & KOONTZ CAPITAL CORPORATION REPORTS 1996 RESULTS AND PROPOSED 4:1
STOCK SPLIT
Natchez, Mississippi (February 18, 1997) - Britton & Koontz Capital Corporation
(Nasdaq/Symbol BKBK) today announced results for the fourth quarter of 1996. Net
income for the quarter was $657 thousand compared to $517 thousand for the same
period in 1995. Quarterly earnings per share amounted to $1.49 in 1996 compared
to $1.16 in 1995.
Net income and earnings per share for 1996 were $2.032 million and $4.59
compared to $2.130 million and $4.82 for 1995 with average shares outstanding
of 442,632.
The reduction in earnings from 1995 was primarily the result of nonrecurring
expenses, namely, a one-time FDIC assessment of $257 thousand in the third
quarter on deposits acquired in the 1993 acquisition of Natchez First Federal
Savings Bank and development expenses of approximately $100 thousand for an
Internet based electronic banking system. Nonrecurring expenses were partially
offset by a net interest income increase of $300 thousand.
In addition to the release of the fourth quarter results, the Company announced
that the Board of Directors will propose a 4:1 stock split conditioned upon
approval of an increase in authorized shares from 3,000,000 to 12,000,000 at the
Annual Shareholders meeting to be held in March or April of this year.
Britton & Koontz Capital Corporation, headquartered in Natchez, Mississippi, is
the parent company of Britton & Koontz First National Bank which operates three
full service offices in Natchez. As of December 31, 1996, the Company reported
assets of $151.3 million and equity of $16.5 million.
<PAGE>
BKBK Reports Fourth Quarter 1996 Results
Britton and Koontz Capital Corporation
Financial Highlights
(Unaudited-Amounts in thousands)
(except per share data)
<TABLE>
<CAPTION>
For the Three For the Twelve
Months Ended Months Ended
December 31, December 31,
____________________ ____________________
1996 1995 1996 1995
_________ ________ _________ ________
<S> <C> <C> <C> <C>
Consolidated Statements of Earnings
Interest income $2,870 $2,867 $11,511 $11,219
Interest expense $1,266 $1,321 $5,157 $5,166
Net interest income $1,604 $1,546 $6,354 $6,053
Provision for loan losses $0 $100 $50 $175
Net interest income after
provision for loan losses $1,604 $1,446 $6,304 $5,878
Non-interest income $356 $319 $1,364 $1,326
Non-interest expense $1,090 $1,046 $4,775 $4,108
Income before income taxes $870 $719 $2,893 $3,096
Income taxes $213 $202 $861 $966
Net income $657 $517 $2,032 $2,130
Per Share Data:
Net income per share $1.49 $1.16 $4.59 $4.82
Weighted average shares outstanding 441,072 443,020 442,632 442,145
December September December
Consolidated Statements of Condition 1996 1996 1995
Total assets $151,303 $151,357 $151,787
Cash and due from banks $5,106 $3,784 $4,702
Investment securities $44,610 $47,449 $47,993
Net loans $95,322 $94,130 $91,999
Deposits-interest bearing $110,375 $112,499 $114,584
Deposits-non interest bearing $16,065 $15,420 $13,983
Short term borrowed funds $3,664 $2,454 $2,723
Stockholders' equity $16,521 $16,393 $15,371
Return on average assets 1.33% 1.19% 1.40%
Return on average equity 12.53% 11.40% 14.25%
Book value (per share) $37.46 $37.17 $34.85
Ending stock price $56.00 $40.00 $39.00
</TABLE>
