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: October 24, 1997
BRITTON & KOONTZ CAPITAL CORPORATION
(Exact name of issuer as specified in its charter)
64-0665423
Mississippi 0-22606 (IRS Employer
(State of Incorporation) Commission File Number Identification No.)
500 Main Street, Natchez, Mississippi 39120
(Address of principal executive offices)
Telephone: (601)445-5576
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BRITTON & KOONTZ CAPITAL CORPORATION
AND SUBSIDIARY
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 and Exhibits.
(c) Exhibits.
20 Other Documents or Statements to Security Holders.
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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
October 24, 1997 /s/ W. Page Ogden
W. Page Ogden
President and Chief Executive
Officer
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Exhibits Index
Exhibit
Number Item
20 Other Documents or Statements to Security Holders
Press Release Dated October 21, 1997
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:
October 21, 1997 W. Page Ogden, President & CEO
for ticker BKBK Bazile R. Lanneau, Jr., Vice President & CFO
BRITTON & KOONTZ CAPITAL CORPORATION REPORTS THIRD QUARTER 1997 EARNINGS
Natchez, Mississippi (October 21, 1997 Britton & Koontz Capital
Corporation (Nasdaq/Symbol BKBK) today announced results for the third quarter
of 1997. Net income for the quarter increased to $542 thousand from $322 for
the same period in 1996. Quarterly earnings per share amounted to $.31
compared to $.18 in 1996.
Net income for the first nine months was $1.791 million compared to
$1.375 million in 1996. Earnings per share during the same period amounted to
$1.01, an increase of 29% over the previous year of $.78. The EPS increase
arose primarily from a reduction in non-interest expense along with continued
loan growth which contributed to an improvement in net interest margin. The
third quarter of 1996 included a one-time FDIC assessment of $257 thousand on
SAIF insured deposits.
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 September 30,
1997, the Company reported assets of $158.3 million and equity of $17.9
million. Total shares outstanding amounted to 1.767 million.
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BKBK Reports Third Quarter 1997 Results
Britton and Koontz Capital Corporatio
Financial Highlights
(Unaudited-Amounts in thousands, except per share data)
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For the Three Months For the Nine Months
Ended September 30, Ended September 30,
----------------------------------------------------
1997 1996 1997 1996
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<S> <C> <C> <C> <C>
Interest income $3,098 $2,892 $9,004 $8,641
Interest expense $1,338 $1,287 $3,887 $3,891
---------- ---------- ---------- ----------
Net interest income $1,760 $1,605 $5,117 $4,750
Provision for loan losses $40 $0 $120 $50
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Net interest income after
provision for loan losses $1,720 $1,605 $4,997 $4,700
Non-interest income $290 $333 $1,077 $1,008
Non-interest expense $1,164 $1,461 $3,353 $3,685
---------- ---------- ---------- ----------
Income before income taxes $846 $477 $2,721 $2,023
Income taxes $304 $155 $930 $648
---------- ---------- ---------- ----------
Net income $542 $322 $1,791 $1,375
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Primary:
Net income per share $0.31 $0.18 $1.01 $0.78
Weighted average shares outstanding $1,767,064 $1,770,336 $1,767,094 $1,771,816
September 30, September 30, December 31,
1997 1996 1996
------------- ------------- ------------
Total assets $158,275 $151,357 $151,303
Cash and due from banks $6,238 $3,784 $5,106
Investment securities $42,059 $47,449 $44,610
Net loans $102,844 $94,130 $95,322
Deposits-interest bearing $112,783 $112,499 $110,375
Deposits-non interest bearing $16,766 $15,420 $16,065
Short term borrowed funds $6,381 $2,454 $3,664
Stockholders' equity $17,909 $16,393 $16,521
Book value (per share) $10.14 $9.29 $9.37
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