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 18, 1999
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
June 18, 1999 /s/ 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, 1999
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, 1999 W. Page Ogden, President & CEO
for (Nasdaq/Symbol BKBK) Bazile R. Lanneau, Jr., Vice President & CFO
BRITTON & KOONTZ CAPITAL CORPORATION REPORTS FIRST QUARTER 1999 EARNINGS
Natchez, Mississippi-- Britton & Koontz Capital Corporation's board
of directors today announced results for the quarter ended March 31, 1999.
Net Income and earnings per share totaled $568 thousand and $.32 per share
compared to $551 thousand and $.31 per share for the period ended March 31,
1998. With the exception of a net $29 thousand loss from the Company's
investment in Sumx Inc., a 35% owned subsidiary established to market
internet-based banking software to the banking industry, the Company
experienced growth in earning areas of the bank. Net interest income
increased $196 thousand on the strength of an 11% growth in average loans.
Service charge income from the acquisition of two Union Planters Corporation
branches, completed January 21, 1999, was the primary factor in a 37% increase
in core non-interest income.
Britton & Koontz Capital Corporation, headquartered in Natchez,
Mississippi, is the parent company of Britton & Koontz First National Bank
which operates four full service offices in Natchez. As of March 31, 1998,
the Company reported assets of $182.1 million and equity of $19.7 million.
Total shares outstanding amounted to 1,767,064.
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Britton and Koontz Capital Corporation
Financial Highlights
(Unaudited-Amounts in thousands, except per share data)
For the Three Months
Ended March 31,
--------------------------
1999 1998
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Interest income $ 3,333 $ 3,201
Interest expense 1,383 1,447
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Net interest income 1,950 1,754
Provision for loan losses 45 40
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Net interest income after
provision for loan losses 1,905 1,714
Non-interest income 430 361
Non-interest expense 1,458 1,246
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Income before income taxes 877 829
Income taxes 309 278
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Net income $ 568 $ 551
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Basic:
Net income per share $ 0.32 $ 0.31
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Weighted average shares outstanding 1,767,064 1,767,064
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March 31, December 31, March 31,
1999 1998 1998
--------- --------- ----------
Total assets $182,148 $173,573 $173,102
Cash and due from banks 5,076 4,811 8,013
Investment securities 45,149 43,835 42,081
Net loans 121,607 118,285 109,655
Deposits-interest bearing 133,985 121,505 128,445
Deposits-non interest bearing 22,824 21,681 18,602
Short term borrowed funds 2,166 7,766 3,011
Stockholders' equity 19,746 19,249 18,526
Book value (per share) 11.17 10.89 10.48
