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: July 23, 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
_____________________________
July 27, 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 July 23, 1997
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:
July 23, 1997 W. Page Ogden, President & CEO
for ticker BKBK Bazile R. Lanneau, Jr., Vice President & CFO
BRITTON & KOONTZ CAPITAL CORPORATION REPORTS SECOND QUARTER 1997 EARNINGS
Natchez, Mississippi (July 23, 1997) Britton & Koontz Capital
Corporation (Nasdaq/Symbol BKBK) today announced results for the second
quarter of 1997. Net income for the quarter increased to $667 thousand
from $547 for the same period in 1996. Quarterly earnings per share
amounted to $.38 compared to $.31 in 1996.
Net income for the first six months was $1,249 million compared
to $1,052 million in 1996. Earnings per share during this same period
amounted to $.71, an increase of 20% over the previous years $.59. The
increase was primarily the result of increased loan demand and subsequent
improvement in net interest margin.
Earnings per share calculations for current and prior periods
reflect a 4:1 stock split that was effective for shareholders of record as
of the close of business on April 25, 1997.
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 June 30, 1997,
the Company reported assets of $154.8 million and equity of $17.4 million.
Total shares outstanding amounted to 1.766 million.
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BKBK Reports First Quarter 1997 Results
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Britton and Koontz Capital Corporation
Financial Highlights
(Unaudited-Amounts in thousands, except per share data)
For the Three Months For the Six Months
Ended June 30, Ended June 30,
--------------------- ---------------------
1997 1996 1997 1996
---------- --------- ---------- ---------
<S> <C> <C> <C> <C>
Interest income $3,031 $2,898 $5,906 $5,749
Interest expense 1,298 1,281 2,550 2,604
Net interest income 1,733 1,617 3,356 3,145
Provision for loan losses 40 0 80 50
Net interest income after
provision for loan losses 1,693 1,617 3,276 3,095
Non-interest income 430 334 787 675
Non-interest expense 1,118 1,158 2,188 2,224
Income before income taxes 1,005 793 1,875 1,546
Income taxes 338 245 626 493
Net income 667 548 1,249 1,053
Primary:
Net income per share $0.38 $0.31 $0.71 $0.59
Weighted average shares outstanding 1,767,185 1,772,656 1,767,087 1,772,476
June 30, June 30, December 31,
1997 1996 1996
--------- -------- ------------
<S> <C> <C> <C>
Total assets $154,808 $153,424 $151,303
Cash and due from banks 3,603 4,222 5,106
Investment securities 43,995 49,575 44,610
Net loans 99,565 94,016 95,322
Deposits-interest bearing 112,777 113,489 110,375
Deposits-non interest bearing 16,293 14,818 16,065
Short term borrowed funds 2,481 3,488 3,664
Stockholders' equity 17,308 16,071 16,521
Book value (per share) 9.79 9.11 9.37
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