<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
QUARTERLY REPORT UNDER SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
For Quarter Ended September 30, 1995 Commission File Number 2-988651
------------------ --------
Kingfisher Bancorp, Inc.
------------------------------------------------------
(Exact name of registrant as specified in its Charter)
OKLAHOMA 73-1247579
- ------------------------------- -------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
P.O. Box 419
124 South Main Street
Kingfisher, Oklahoma 73750
- ---------------------------------------- ------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (405) 375-3121
------------------
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.
Class Outstanding at September 30, 1995
Common Stock, $1 par value 65,648
------------------------------ ----------------------------
1
<PAGE>
KINGFISHER BANCORP, INC. AND SUBSIDIARY
INDEX
<TABLE>
<CAPTION>
Page No.
--------
<S> <C>
Part I. FINANCIAL INFORMATION:
Item 1. Financial Statements
Condensed Consolidated Balance Sheets -
September 30, 1995 and December 31, 1994 3
Condensed Consolidated Statements of Income - Three Months
Months and Nine Months Ended September 30, 1995 and 1994 4
Condensed Consolidated Statements of Changes in Stockholders'
Equity - Nine Months Ended September 30, 1995 and 1994 5
Condensed Consolidated Statements of Cash Flows - Three
Months and Nine Months Ended September 30, 1995 and 1994 6
Notes to Condensed Consolidated Financial Statements 8
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations 10
Part II. OTHER INFORMATION:
Signatures 12
</TABLE>
2
<PAGE>
KINGFISHER BANCORP, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
<TABLE>
<CAPTION>
September 30, 1995 December 31, 1994
------------------ -----------------
<S> <C> <C>
ASSETS:
Cash and due from banks $ 3,065,806 $ 1,312,256
Federal funds sold 7,750,000 -
Investment securities:
United States government 24,945,501 26,683,171
States and political subdivisions 3,112,669 4,118,501
----------- -----------
Total investment securities 28,058,170 30,801,672
Loans, net of unearned income 50,020,718 55,633,842
Less allowance for possible loan loss (1,264,000) (1,182,000)
----------- -----------
Net loans 48,756,718 54,451,842
Owned real estate 13,100 264,197
Bank premises and equipment, net 268,331 335,841
Deferred income taxes 431,480 452,337
Accrued interest and other assets 1,523,836 1,519,834
----------- -----------
TOTAL $89,867,441 $89,137,979
=========== ===========
LIABILITIES AND EQUITY:
Deposits:
Demand $ 5,820,454 $ 6,834,733
NOW accounts 19,154,989 8,492,928
Savings and time deposits 53,108,384 61,947,070
----------- -----------
78,083,827 77,274,731
Other short-term borrowings 562,649 1,061,707
Notes payable 45,336 62,474
Accrued interest and other liabilities 696,957 629,748
----------- -----------
Total liabilities 79,388,769 79,028,660
Stockholders equity:
Common stock, par value $1 per share,
240,000 shares authorized;
120,000 shares issued 120,000 120,000
Additional paid-in capital 2,360,000 2,360,000
Retained earnings 11,605,008 11,121,400
Unrealized gain (loss) on securities
available for sale, net of deferred
income taxes 7,836 (98,709)
Less treasury shares (54,352 and 52,432) (3,614,172) (3,393,372)
----------- -----------
Total stockholders' equity 10,478,672 10,109,319
----------- -----------
TOTAL $89,867,441 $89,137,979
=========== ===========
</TABLE>
See notes to unaudited condensed consolidated financial statements.
3
<PAGE>
KINGFISHER BANCORP, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
September 30, September 30,
------------------ -----------------
1995 1994 1995 1994
---------- ----------- ---------- ----------
<S> <C> <C> <C> <C>
INTEREST INCOME:
Interest and fees on loans $1,120,248 $ 971,881 $3,394,355 $2,978,258
Investment securities:
United States government 398,454 428,251 1,227,430 1,190,117
State and political subdivisions 49,998 86,553 165,149 256,456
Federal funds sold 103,954 79,095 148,365 207,037
---------- ---------- ---------- ----------
Total interest income 1,672,654 1,565,780 4,935,299 4,631,868
INTEREST EXPENSE:
Savings and other time deposits 885,105 692,175 2,511,416 1,968,016
Other short-term borrowings 3,325 1,246 9,486 5,326
Notes payable 961 1,139 2,864 3,424
---------- ---------- ---------- ----------
Total interest expense 889,391 694,560 2,523,766 1,976,766
---------- ---------- ---------- ----------
NET INTEREST INCOME 783,263 871,220 2,411,533 2,655,102
PROVISION FOR POSSIBLE LOAN LOSSES 60,000 60,000 180,000 180,000
---------- ---------- ---------- ----------
NET INTEREST INCOME, after provision
for possible loan losses 723,263 811,220 2,231,533 2,475,102
---------- ---------- ---------- ----------
OTHER INCOME:
Service charges on deposit accounts 78,234 66,163 229,861 185,947
Other 9,566 19,382 42,717 49,310
---------- ---------- ---------- ----------
Total other income 87,800 85,545 272,578 235,257
OTHER EXPENSES:
Salaries and employee benefits 263,637 253,012 781,439 751,643
Occupancy 15,005 15,787 36,890 42,933
Depreciation and amortization 25,392 31,691 77,875 94,910
Other 145,598 460,179 586,624 894,403
---------- ---------- ---------- ----------
Total other expenses 449,632 760,669 1,482,828 1,783,889
---------- ---------- ---------- ----------
INCOME BEFORE INCOME TAXES 361,431 136,096 1,021,283 926,470
INCOME TAX PROVISION 107,728 11,163 266,203 249,579
---------- ---------- ---------- ----------
NET INCOME $ 253,703 $ 124,933 $ 755,080 $ 676,891
========== ========== ========== ==========
NET INCOME PER SHARE: $ 3.86 $ 1.82 $ 11.29 $ 9.85
====== ====== ======= ======
</TABLE>
See notes to unaudited condensed consolidated financial statements.
4
<PAGE>
KINGFISHER BANCORP, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
(Unaudited)
<TABLE>
<CAPTION>
September 30,
1995 1994
-------------- -------------
<S> <C> <C>
COMMON STOCK $ 120,000 $ 120,000
ADDITIONAL PAID-IN CAPITAL 2,360,000 2,360,000
RETAINED EARNINGS:
Balance at beginning of year 11,121,400 10,569,214
Cash dividends declared (271,472) (274,872)
Net income 755,080 676,891
----------- -----------
11,605,008 10,971,233
UNREALIZED GAIN (LOSS) ON SECURITIES
AVAILABLE FOR SALE:
Balance at beginning of year (98,709) -
Unrealized gain on securities available
for sale 106,545 (78,132)
----------- -----------
7,836 (78,132)
TREASURY SHARES:
Balance, at beginning of year, at
cost net of sales (3,393,372) (3,261,122)
Acquisition of 1,920 and 40 shares (220,800) (4,600)
----------- -----------
(3,614,172) (3,265,722)
----------- -----------
$10,478,672 $10,107,379
=========== ===========
</TABLE>
See notes to unaudited condensed consolidated financial statements.
5
<PAGE>
KINGFISHER BANCORP, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited)
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
September 30, September 30,
-------------------------------- --------------------------------
1995 1994 1995 1994
----------- ---------- ----------- -------------
<S> <C> <C> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 253,703 $ 124,933 $ 755,080 $ 676,891
Adjustments to reconcile net income to net
cash provided by operating activities:
Provision for loan losses 60,000 60,000 180,000 180,000
Amortization of investment security
premiums 15,908 17,168 48,206 54,022
Accretion of investment security premiums (25,087) (25,981) (74,930) (55,584)
Depreciation and amortization 25,392 31,691 77,875 94,910
Provision for deferred taxes (28,616) (132,083) (45,272) (173,172)
Other transactions, net - 3 - 1
Changes in operating assets and liabilities:
Decrease (increase) in accrued interest
receivable and other assets 15,154 156,322 (4,002) 106,586
Increase (Decrease) in accrued interest
payable and other liabilities (52,747) 305,739 67,209 316,761
----------- ---------- ----------- ------------
Net cash provided by
operating activities 263,707 537,792 1,004,166 1,200,415
CASH FLOWS FROM INVESTING ACTIVITIES:
Net decrease in loans 349,747 805,697 5,515,124 4,385,728
Proceeds from maturities of investment
securities 1,191,259 711,105 2,942,900 8,786,585
Purchase of investment securities - (15,287) - (14,930,421)
Purchase of premises and equipment - (7,365) (10,365) (40,501)
Purchase of owned real estate - (59,920) - (217,727)
Sale of owned real estate 21,584 15,315 251,097 15,315
----------- ---------- ----------- ------------
Net cash used in
investing activities 1,562,590 1,449,545 8,698,756 (2,001,021)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net (decrease) increase in demand
deposit and savings accounts (1,086,921) 1,214,233 (1,166,528) 1,022,248
Net increase in time deposits 1,377,832 1,916,466 1,975,624 2,687,104
Increase (decrease) in other
borrowed funds 289,949 52,643 (499,058) (231,198)
Repayment of notes payable (5,858) (5,424) (17,138) (16,156)
</TABLE>
(Continued)
6
<PAGE>
KINGFISHER BANCORP, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited)
(Continued)
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
September 30, September 30,
------------------------------- ------------------------------
1995 1994 1995 1994
---------- ----------- ------------- -----------
<S> <C> <C> <C> <C>
Payments to acquire treasury stock (41,400) - (220,800) (4,600)
Dividends paid - - (271,472) (274,872)
----------- ----------- ----------- -----------
Net cash (used in) provided
by financing activities 533,602 3,177,918 (199,372) 3,182,526
----------- ----------- ----------- -----------
INCREASE IN CASH AND
CASH EQUIVALENTS 2,359,899 5,165,255 9,503,550 2,381,920
CASH AND CASH EQUIVALENTS:
Beginning of the period 8,455,907 7,263,944 1,312,256 10,047,279
----------- ----------- ----------- -----------
End of the period $10,815,806 $12,429,199 $10,815,806 $12,429,199
=========== =========== =========== ===========
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period
for interest $ 869,924 $ 677,723 $ 1,573,513 $ 1,950,510
=========== =========== =========== ===========
Cash paid during the period for
income taxes $ 241,920 $ 150,000 $ 241,920 $ 281,019
=========== =========== =========== ===========
SUPPLEMENTAL SCHEDULE OF NONCASH FINANCING ACTIVITIES:
Loans transferred to (from)
owned real estate $ - $ 46,105 $ (228,263) $ 233,312
=========== =========== =========== ===========
In-substance foreclosure owned real
estate transferred to loans $ - $ 67,165 $ - $ 216,249
=========== =========== =========== ===========
Unrealized gain (loss) on securities
available for sale $ (6,117) $ 30,449 $ 106,545 $ 126,019
=========== =========== =========== ===========
</TABLE>
See notes to unaudited condensed consolidated financial statements.
7
<PAGE>
KINGFISHER BANCORP, INC. AND SUBSIDIARY
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
NINE MONTHS ENDED SEPTEMBER 30, 1995
------------------------------------
1. The consolidated financial statements include the accounts of Kingfisher
Bancorp, Inc. (the Company) and Kingfisher Bank and Trust Co. (the Bank) after
elimination of all material intercompany accounts and transactions.
2. Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting principles
have been condensed or omitted. It is suggested that these consolidated
financial statements be read in conjunction with the consolidated financial
statements and notes thereto included in the Company's annual report on
Form 10-K.
3. Net income per share is computed on the basis of weighted average number of
common shares outstanding during the periods.
4. The financial statements include all adjustments necessary to fairly present
the results of operations for the periods presented. All such adjustments are
of a normal recurring nature.
5. Investment securities:
<TABLE>
<CAPTION>
September 30, 1995 December 31, 1994
------------------------- -------------------------
Approximate Carrying Approximate Carrying
Fair Value Amount Fair Value Amount
----------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Held to maturity $25,211,186 $25,076,620 $26,942,700 $27,999,812
Available for sale 2,981,550 2,981,550 2,801,860 2,801,860
----------- ----------- ----------- -----------
Total securities $28,192,736 $28,058,170 $29,744,560 $30,801,672
=========== =========== =========== ===========
</TABLE>
6. As of January 1, 1995 the Company adopted the provisions of Statement of
Financial Accounting Standards No. 114 ("SFAS 114") "Accounting by Creditors for
Impairment of a Loan" and SFAS No. 118 "Accounting by Creditors for Impairment
of a Loan-Income Recognition and Disclosures." These new standards had no
material impact on the Company's financial statements at initial adoption nor
expected ongoing operations. The new standards address the accounting by
creditors for impairment of loans, except large groups of smaller-balance
homogeneous loans, that are collectively valued for impairment. The new
standards require that the allowance for possible loan loss on impaired loans be
measured based on the present value of expected future cash flows discounted at
the loans' effective interest rate or, as a practical expedient, at the loan's
observable market price or the fair value of the collateral if the loan is
collateral dependent. As the measurement of the allowance for possible loan
losses changes, the change is reported as provision for possible loan losses in
the same manner in which the impairment initially was recognized or as a
reduction in the amount of provision for possible loan losses that otherwise
would be reported.
The company has defined its population of impaired loans as consisting of all
internally classified by management's loan review process. This review process
includes consideration of factors such as cash flow, collateral position, past
performance, and
8
<PAGE>
overall financial condition of the borrower.
<TABLE>
<CAPTION>
September 30, 1995 December 31, 1994
------------------- ------------------
<S> <C> <C>
Gross impaired loans which have allowances $2,974,000 $3,875,000
Less: Related allowances for loan losses (566,000) (607,000)
---------- ----------
Net impaired loans with related allowances 2,408,000 3,268,000
Impaired loans with no related allowances 3,599,000 2,166,000
---------- ----------
$6,007,000 $5,434,000
========== ==========
</TABLE>
The average impaired loans outstanding for the period ended September 30,
1995 was approximately $6,306,000 as compared to approximately $5,821,000 for
the same period in 1994. Interest income recognized for the quarter ended
September 30, 1995 was $337,000 as compared to $337,000 for the same period in
1994.
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
September 30, September 30,
-------------------------- ---------------------------
1995 1994 1995 1994
------------ ------------ ------------ -------------
<S> <C> <C> <C> <C>
Allowance for loan loss activity:
Beginning of period $1,295,000 $1,260,000 $1,182,000 $1,162,000
Provision for losses 60,000 60,000 180,000 180,000
Recoveries 12,336 58,000 26,000 59,000
Realized losses (103,336) (87,000) (124,000) (110,000)
---------- ---------- ---------- ----------
End of period $1,264,000 $1,291,000 $1,264,000 $1,291,000
========== ========== ========== ==========
</TABLE>
Uncollected interest on loans which are more than 90 days past due are currently
being charged off. Subsequently, such interest is recognized as income as it is
collected.
7. Accounting Standards Issued but Not Yet Adopted
In May 1995, the Financial Accounting Standards Board (FASB) issued SFAS No.
122, "Accounting for Mortgage Servicing Rights" which amends the accounting for
the rights to service mortgage loans originated and requires evaluating for
impairment amounts capitalized as mortgage servicing rights. In March 1995, the
FASB issued SFAS No. 121, "Accounting for the Impairment of Long-Lived Assets
and for Long-Lived Assets to be Disposed of", which establishes accounting
standards for such assets. Adoption of SFAS No. 122 and 121 is required in
fiscal years beginning after December 15, 1995. The Company will adopt these
new standards effective January 1, 1996. Management believes that adoption of
SFAS No. 122 and 121 will not have a material impact on the Company's
consolidated financial position or results of operations.
9
<PAGE>
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
OVERVIEW
Net income for the three months ended September 30, 1995 was $253,703 as
compared to $124,933 for the same period in 1994. This 103.07% increase was
primarily due to a drop in other expenses.
Net income for the nine months ended September 30, 1995 was $755,080, a 11.55%
increase from the $676,891 recorded for the nine months ended September 30,
1994. This increase was the result of a decrease in other expenses partially
offset by an increase in other income.
NET INTEREST INCOME
Net interest income is affected by the volume of earning assets, the interest
rate earned on those assets, the volume of interest bearing liabilities and the
rates paid on those liabilities.
Net interest income for the three months ended September 30, 1995, was
$723,263 as compared to $811,220 for the same period last year. This 10.84%
decrease was the result of interest expense rising at a faster rate than
interest income.
Net interest income for the nine month period ending September 30, 1995 and
September 30, 1994 was $2,231,533 and $2,475,102, respectively. This 9.84%
decrease can be attributed to interest expense rising at a faster rate than
interest income and a 10.09% decrease in loans.
The net interest spread is the difference between the rate earned on earning
assets and the rate paid on interest bearing liabilities. The net interest
spread at September 30, 1995, was 3.66% as compared to 4.02% at September 30,
1994.
OTHER INCOME
Other income increased 2.64% for the three months ended September 30, 1995, as
compared to the same period last year.
Other income increased 15.86% to $272,578 for the nine months ended September
30, 1995 as compared to $235,257 for the same period last year. These increases
can be attributed to an increase in service charge income.
OTHER EXPENSES
Other expenses decreased 40.89% to $449,632 for the three months ended
September 30, 1995, as compared to $760,669 for the same period last year.
Other expenses decreased 16.88% to $1,482,828 for the nine months ended
September 30, 1995, as compared to $1,783,889 for the same period last year.
These decreases can be attributed to the recognition of a new compensation
arrangement with each director which was set up during the third quarter of
1994, and a $49,000 refund adjustment to the FDIC assessment due to a decrease
in rates.
10
<PAGE>
LOAN QUALITY
The allowance for possible loan losses as a percent of loans was 2.53% at
September 30, 1995, as compared to 2.12% at December 31, 1994. This increase is
due to management's continued systematic evaluation of the local economic
conditions and a decrease in loans due to seasonal loan demand in the
agricultural sector. The continuous fluctuations of wheat and livestock prices
requires continued monitoring of agricultural lines of credit. Based on current
data, management continues to believe that the provision for possible loan
losses continues to be adequate.
Management believes the demand for loans will begin increasing during the last
quarter of 1995 due to seasonal demand for livestock loans.
BALANCE SHEET COMPOSITION
The loan to deposit ratio was 64.06% at September 30, 1995 as compared to
71.99% at December 31, 1994. Seasonal lending for stocker loans is the primary
reason for this decline.
The capital to asset ratio at September 30, 1995 was 11.66% as compared to
11.34% at December 31, 1994.
CAPITAL ADEQUACY
The Federal Deposit Insurance Corporation requires minimum capital for a "well
capitalized" institution as follows: 10% total risk-based capital to net risk-
weighted assets; 6% Tier I risk-based capital to net risk-weighted assets; and a
5% leverage ratio. The bank's capital ratios as of September 30, 1995 are as
follows: 21.63% total risk-based capital to net risk-weighted assets; 20.38%
Tier I risk-based capital to net risk-weighted assets; and a 11.77% leverage
ratio.
LIQUIDITY
Liquidity can be defined as a financial institutions ability to meet possible
deposit withdrawals, provide for the credit needs of its customers and take
advantage of investment opportunities as they arise. Management considers the
banks liquidity position adequate to meet these needs.
OTHER MATTERS
In May 1995, the FASB issued SFAS No. 122, "Accounting for Mortgage Servicing
Rights", which amends the accounting for the rights to service mortgage loans
originated and requires evaluating for impairment amounts capitalized as
mortgage servicing rights. In March 1995, the FASB issued SFAS No. 121,
"Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to
be Disposed of", which establishes accounting standards for such assets.
Adoption of SFAS Nos. 122 and 121 is required in fiscal years beginning after
December 15, 1995. The Company will adopt these new standards effective January
1, 1996. Management believes that adoption of SFAS Nos. 122 and 121 will not
have a material impact on the Company's consolidated financial position or
results of operations.
11
<PAGE>
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 hereunto duly authorized.
KINGFISHER BANCORP, INC.
Date: November 2, 1995 /s/ Waynard Hasenfratz
-------------------------- ----------------------------
President
Date: November 2, 1995 /s/ George Brownlee
-------------------------- -----------------------------
Secretary
12
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 9
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-START> JAN-01-1995
<PERIOD-END> SEP-30-1995
<CASH> 3,066
<INT-BEARING-DEPOSITS> 0
<FED-FUNDS-SOLD> 7,750
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 2,982
<INVESTMENTS-CARRYING> 25,077
<INVESTMENTS-MARKET> 25,211
<LOANS> 50,021
<ALLOWANCE> 1,264
<TOTAL-ASSETS> 89,867
<DEPOSITS> 78,084
<SHORT-TERM> 563
<LIABILITIES-OTHER> 697
<LONG-TERM> 45
<COMMON> 120
0
0
<OTHER-SE> 10,359
<TOTAL-LIABILITIES-AND-EQUITY> 89,867
<INTEREST-LOAN> 3,394
<INTEREST-INVEST> 1,541
<INTEREST-OTHER> 0
<INTEREST-TOTAL> 4,935
<INTEREST-DEPOSIT> 2,521
<INTEREST-EXPENSE> 2,524
<INTEREST-INCOME-NET> 2,412
<LOAN-LOSSES> 180
<SECURITIES-GAINS> 0
<EXPENSE-OTHER> 1,483
<INCOME-PRETAX> 1,021
<INCOME-PRE-EXTRAORDINARY> 755
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 755
<EPS-PRIMARY> 11.29
<EPS-DILUTED> 11.29
<YIELD-ACTUAL> 0.89
<LOANS-NON> 1,381
<LOANS-PAST> 717
<LOANS-TROUBLED> 99
<LOANS-PROBLEM> 7,376
<ALLOWANCE-OPEN> 1,182
<CHARGE-OFFS> 124
<RECOVERIES> 26
<ALLOWANCE-CLOSE> 1,264
<ALLOWANCE-DOMESTIC> 566
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 698
</TABLE>
