FORM 10-Q / A
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
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(Mark One)
[ x ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2000
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ____________ to ____________
Commission File No. 0-11526
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FIRST COLONIAL GROUP, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
PENNSYLVANIA 23-2228154
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(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.)
76 S. MAIN ST., NAZARETH, PA 18064
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICE (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: 610-746-7300
INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS REQUIRED
TO BE FILED BY SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DURING
THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE REGISTRANT WAS
REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH FILING
REQUIREMENTS FOR THE PAST 90 DAYS.
YES X NO _____
INDICATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASSES OF
COMMON STOCK AS OF THE LATEST PRACTICABLE DATE: 1,853,271 SHARES OF COMMON
STOCK, $5 PAR VALUE, OUTSTANDING ON MARCH 31, 2000
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The purpose of this amendment is to correct an error in Item 3 of Part 1 on the
Consolidated Comparative Statement of Analysis, line - Investment Securities,
Taxable in the Average Balance column for the year 2000.
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FIRST COLONIAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED COMPARATIVE STATEMENT ANALYSIS
(Dollars in Thousands)
(Unaudited)
<TABLE>
Three Months Ended, March 31, 2000 1999
Int Avg Int Avg
Avg Inc/ Yield/ Avg Inc/ Yield/
Bal Exp Rate Bal Exp Rate
<S> <C> <C> <C> <C> <C> <C>
ASSETS:
INTEREST-EARNING ASSETS
Int-Bearing Deposits with Banks $ 1,763 $ 24 5.45% $ 7,278 $ 85 4.68%
Federal Funds Sold 549 9 6.56 1,267 14 4.40
Investment Securities
Taxable 133,893 2,279 6.81 87,181 1,341 6.16
Non-Taxable (1) 29,525 486 6.58 32,134 588 7.32
Net Loans Held for Sale 6 - -- 2,963 26 3.52
Loans (1) (2) 203,692 4,191 8.23 209,018 4,377 8.36
Reserve for Loan Losses (2,501) -- -- (2,733) -- --
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Net Loans 201,191 4,191 8.33 206,285 4,377 8.48
--------- ----- -------- -----
Total Interest-Earning Assets 366,927 6,989 7.62 337,108 6,431 7.64
Non-Interest Earning Assets 30,879 -- -- 27,124 -- --
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TOTAL ASSETS, INT INCOME $ 397,806 6,989 7.03 $364,232 6,431 7.08
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LIABILITIES
INTEREST-BEARING LIABILITIES
Interest-Bearing Deposits
Demand Deposits $ 52,170 127 0.97 $ 49,448 132 1.08
Money Market Deposits 12,957 91 2.81 13,620 92 2.72
Savings & Club Deposits 62,165 342 2.20 61,998 336 2.16
CD's over $100,000 4,733 50 4.23 4,295 41 3.80
All Other Time Deposits 149,558 1,970 5.27 131,073 1,741 5.32
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Total Int-Bearing Deposits 281,583 2,580 3.66 260,434 2,342 3.60
Federal Funds Purchased
and Securities Sold Under
Agreements to Repurchase 4,211 41 3.89 5,695 42 2.96
Short-Term Borrowings 4,992 75 6.01 321 4 5.00
Long-Term Borrowings 30,000 454 6.05 20,000 280 5.60
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Total Int-Bearing Liabilities 320,786 3,150 3.93 286,450 2,668 3.72
NON-INTEREST-BEARING LIABILITIES
Non-Interest-Bearing Deposits 41,151 -- -- 38,990 -- --
Other Liabilities 7,722 -- -- 7,660 -- --
--------- ----- -------- -----
TOTAL LIABILITIES 369,959 3,150 3.41 333,100 2,668 3.20
SHAREHOLDERS' EQUITY 27,847 -- -- 31,132 -- --
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TOTAL LIABILITIES AND EQUITY $ 397,806 3,150 3.17 $364,232 2,668 2.92
NET INTEREST INCOME $ 3,839 $ 3,763
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Net Interest Spread 3.69 3.92
Effect of Interest-Free Sources
Used to Fund Earnings Assets 0.50 0.56
Net Interest Margin 4.19% 4.48%
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</TABLE>
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SIGNATURES
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, thereunto duly authorized.
FIRST COLONIAL GROUP, INC.
DATE: July 24, 2000 BY: /S/ S. ERIC BEATTIE
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S. ERIC BEATTIE
PRESIDENT
(PRINCIPAL EXECUTIVE OFFICER)
DATE: July 24, 2000 BY: /S/ REID L. HEEREN
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REID L. HEEREN
VICE PRESIDENT
(PRINCIPAL FINANCIAL OFFICER)
