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Previous: MCDONALD & CO INVESTMENTS INC, DEF 14A, 1996-06-27 |
Next: SMITH INTERNATIONAL INC, 11-K, 1996-06-27 |
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-QSB/A
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1996
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE TRANSITION PERIOD FROM
_________ TO __________
Commission file number - 33-54566
EXCHANGE BANCSHARES, INC.
(Exact name of small business issuer as specified in its charter)
OHIO 34-1721453
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
235 Main Street, P.O. Box 129, Luckey, Ohio 43443
(Address of principal executive offices) (Zip Code)
(419) 833-3401
(Issuer's telephone number)
N/A
(Former name, former address and former fiscal year, if changed since last
report)
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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 . . .
Applicable only to issuers involved in bankruptcy proceedings during the
preceding five years
Check whether the registrant filed all documents and reports required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court. Yes . . No . .
Applicable only to corporate issuers
As of April 30, 1996, 449,736 shares of Common Stock of the Registrant were
outstanding. There were no preferred shares outstanding.
Transitional Small Business Disclosure Format (Check one): Yes . . No X
<PAGE>
<TABLE>
EXCHANGE BANCSHARES, INC.
LUCKEY, OHIO
FORM 10-QSB/A
INDEX
<CAPTION>
Page Number
<S> <C>
PART I FINANCIAL INFORMATION
Item. 1. Financial Statements (Unaudited)
Condensed consolidated balance sheets -- N/A
March 31, 1996 and December 31, 1995
Condensed consolidated statements of income -- N/A
Three months ended March 31, 1996 and 1995
Condensed consolidated statements of changes N/A
in shareholders' equity --
Three months ended March 31, 1996 and 1995
Condensed consolidated statements of cash flows -- N/A
Three months ended March 31, 1996 and 1995
Notes to condensed consolidated financial N/A
statements -- March 31, 1996
Item 2. Management's Discussion and Analysis of Financial N/A
Condition and Results of Operations
PART II OTHER INFORMATION
Item 1. Legal Proceedings N/A
Item 2. Changes in Securities N/A
Item 3. Defaults upon Senior Securities N/A
Item 4. Submission of Matters to a Vote of Security Holders N/A
Item 5. Other Information N/A
Item 6. Financial Data Schedule Exhibit
Signatures 3
</TABLE>
<PAGE>
SIGNATURES
In accordance with 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:
EXCHANGE BANCSHARES, INC.
Date June 27, 1996 Marion Layman
Marion Layman
Chairman and President
Date June 27, 1996 Joseph R. Hirzel
Joseph R. Hirzel
Secretary and Treasurer
<PAGE>
<TABLE> <S> <C>
<ARTICLE> 9
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE MARCH 31,
1996 & 1995, AND DECEMBER 31, 1995, CONSOLIDATED STATEMENTS OF CONDITION AND
CONSOLIDATED STATEMENTS OF INCOME AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000720912
<NAME> EXCHANGE BANCSHARES, INC.
<MULTIPLIER> 1,000
<CURRENCY> U S DOLLARS
<S> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 3-MOS YEAR
<FISCAL-YEAR-END> MAR-31-1996 MAR-31-1995 DEC-31-1995
<PERIOD-START> JAN-01-1996 JAN-01-1995 JAN-01-1995
<PERIOD-END> MAR-31-1996 MAR-31-1995 DEC-31-1995
<EXCHANGE-RATE> 1 1 1
<CASH> 2,166 2,003 2,197
<INT-BEARING-DEPOSITS> 0 0 0
<FED-FUNDS-SOLD> 3,867 3,525 3,895
<TRADING-ASSETS> 0 0 0
<INVESTMENTS-HELD-FOR-SALE> 18,375 16,151 16,876
<INVESTMENTS-CARRYING> 3,554 5,414 3,703
<INVESTMENTS-MARKET> 3,515 5,287 3,619
<LOANS> 38,766 37,169 38,339
<ALLOWANCE> 483 517 483
<TOTAL-ASSETS> 68,014 65,759 66,201
<DEPOSITS> 60,213 58,608 58,511
<SHORT-TERM> 0 0 0
<LIABILITIES-OTHER> 255 233 261
<LONG-TERM> 0 0 0
0 0 0
0 0 0
<COMMON> 2,265 2,158 2,265
<OTHER-SE> 5,281 4,760 5,164
<TOTAL-LIABILITIES-AND-EQUITY> 68,014 65,759 66,201
<INTEREST-LOAN> 923 868 3,505
<INTEREST-INVEST> 296 304 1,258
<INTEREST-OTHER> 52 26 192
<INTEREST-TOTAL> 1,271 1,198 4,955
<INTEREST-DEPOSIT> 531 667 2,038
<INTEREST-EXPENSE> 0 0 0
<INTEREST-INCOME-NET> 740 731 2,917
<LOAN-LOSSES> 23 30 120
<SECURITIES-GAINS> 0 (38) (38)
<EXPENSE-OTHER> 516 540 2,155
<INCOME-PRETAX> 280 185 881
<INCOME-PRE-EXTRAORDINARY> 192 123 612
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> 192 123 612
<EPS-PRIMARY> .43 .30 1.35
<EPS-DILUTED> .43 .30 1.35
<YIELD-ACTUAL> 4.57 4.64 4.68
<LOANS-NON> 237 0 336
<LOANS-PAST> 34 411 57
<LOANS-TROUBLED> 0 0 0
<LOANS-PROBLEM> 0 0 0
<ALLOWANCE-OPEN> 483 465 465
<CHARGE-OFFS> 28 3 136
<RECOVERIES> 5 25 34
<ALLOWANCE-CLOSE> 483 517 483
<ALLOWANCE-DOMESTIC> 483 517 483
<ALLOWANCE-FOREIGN> 0 0 0
<ALLOWANCE-UNALLOCATED> 325 208 280
</TABLE>
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