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: June 03, 1998
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
/s/ W. Page Ogden
June 03, 1998 -------------------------------------
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 April 27, 1998
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:
April 27, 1998 W. Page Ogden, President & CEO
for (Nasdaq/Symbol BKBK) Bazile R. Lanneau, Jr., Vice President & CFO
BRITTON & KOONTZ CAPITAL CORPORATION REPORTS FIRST QUARTER 1998 EARNINGS
Natchez, Mississippi-- Britton & Koontz Capital Corporation's board of
directors today announced results for the quarter ended March 31, 1998.
Net income and earnings per share totaled $551 thousand or $.31 per share
compared to $583 thousand or $.33 per share for the period ended March 31,
1997. The decrease is primarily the result of nonrecurring items in
noninterest expense of approximately $50 thousand. However, the Company's
loan demand continues to increase contributing to an 8.6% increase in net
interest income in the amount of $139 thousand.
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 March 31, 1998, the Company
reported assets of $173.1 million and equity of $18.5 million, an increase
over the same period last year of 11.2% and 8.2 % respectively. Total shares
outstanding amounted to 1.767 million.
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Britton and Koontz Capital Corporation
Financial Highlights
(Unaudited-Amounts in thousands, except per share data)
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<CAPTION>
For the Three Months
Ended March 31,
_______________________
1998 1997
______ ______
<S> <C> <C>
Interest income $3,201 $2,867
Interest expense 1,447 1,252
Net interest income 1,754 1,615
Provision for loan losses 40 40
Net interest income after
provision for loan losses 1,714 1,575
Non-interest income 361 357
Non-interest expense 1,246 1,061
Income before income taxes 829 871
Income taxes 278 288
Net income 551 583
Primary:
Net income per share $ 0.31 $ 0.33
Weighted average shares outstanding 1,767,064 1,766,872
March 31, December 31, March 31,
1998 1997 1997
__________ ___________ __________
<S> <C> <C> <C>
Total assets $173,102 $162,130 $155,602
Cash and due from banks 8,013 5,931 5,747
Investment securities 42,081 43,956 41,190
Net loans 109,655 106,156 96,336
Deposits-interest bearing 128,445 112,069 113,144
Deposits-non interest bearing 18,602 20,568 16,370
Short term borrowed funds 3,011 6,784 4,415
Stockholders' equity 18,526 17,982 17,104
Book value (per share) 10.48 10.18 9.69
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