FORM 10-Q
Securities and Exchange Commission
Washington, D.C. 20549
[ X ] Quarterly Report Pursuant to Section 13 or
15(d) of the Securities Exchange Act of 1934
For the quarterly period ended: September 30, 1995
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.: 0-12377
BT FINANCIAL CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
Pennsylvania 25-1441348
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(State of Incorporation) (I.R.S. Employer Identification Number)
551 Main Street, Johnstown, Pennsylvania 15901
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(Address of Principal Executive Offices) (Zip Code)
(814) 532-3801
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Registrant's Telephone Number
Indicate by checkmark 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:
3,826,581 shares common stock
($5.00 par value)
as of November 9, 1995
NOTE-AMENDMENT NO. 1
ITEM 1
FINANCIAL STATEMENTS
BT FINANCIAL CORPORATION AND AFFILIATES
CONSOLIDATED BALANCE SHEET
(In thousands, except share data)
September 30 December 31
1995 1994
(Unaudited)
ASSETS
Cash and Cash equivalents $41,098 $47,679
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Money market investments:
Interest-bearing deposits with banks 1,628 5,323
Federal funds sold 0 2,000
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Total money market investments 1,628 7,323
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Securities available-for-sale 208,928 248,281
Securities held-to-maturity (market value
of $43,584 at September 30, 1995 and
$22,242 at December 31, 1994) 43,151 22,911
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Total securities 252,079 271,192
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Loans: 825,220 783,565
Less: Unearned interest 48,808 40,908
Reserve for loan losses 7,508 7,227
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Net loans 768,904 735,430
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Premises and equipment 24,766 23,649
Accrued interest receivable 7,810 7,739
Other assets 14,115 14,563
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Total assets $1,110,400 $1,107,575
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LIABILITIES
Deposits:
Non-interest-bearing 123,979 123,078
Interest-bearing 831,841 825,155
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Total deposits 955,820 948,233
Federal funds purchased and securities sold
under agreements to repurchase 36,814 53,401
Short-term borrowings 5,360 4,571
Accrued interest payable 5,149 2,754
Other liabilities 1,091 1,387
Long-term debt 7,480 9,920
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Total liabilities $1,011,714 $1,020,266
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SHAREHOLDERS' EQUITY
Preferred stock, no par value
Authorized shares: 2,000,000 - -
Common stock,
Par value: $5.00
Authorized shares: 10,000,000
Shares issued: 3,826,581 19,133 19,133
Surplus 33,320 33,320
Retained earnings 46,474 41,430
Net unrealized holding gains (losses) on
securities available-for-sale (241) (6,574)
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Total shareholders' equity 98,686 87,309
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Total liabilities and
shareholders' equity $1,110,400 $1,107,575
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