THE SOMERSET GROUP, INC.
Condensed Consolidated Statements of Shareholders' Equity
January 1, 1999 to June 30, 2000
(Unaudited)
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<S> <C> <C> <C> <C> <C> <C> <C>
Capital Accumulated
in Excess Other
Common of Stated Comprehensive Retained Treasury
Stock Value Income Earnings Shares Total
Balance January 1, 1999 $1,862,000 $3,599,000 ($19,000) $30,359,000 ($338,000) $35,463,000
Comprehensive Income:
Net income January 1 to June 30, 1999 --- --- --- 1,885,000 - 1,885,000
Unrealized losses on short-term investments,
net of deferred income taxes --- --- (15,000) --- - (15,000)
---------
Total comprehensive income 1,870,000
Tax benefit of stock options exercised --- 80,000 --- --- - ---
Reissuance of treasury shares --- (322,000) --- --- 573,000 251,000
Purchase of treasury shares --- --- --- --- (2,300,000)(2,300,000)
Cash dividends paid --- --- --- (288,000) - (288,000)
Equity in other capital changes of First Indiana
Corporation, net of deferred incom --- --- --- (446,000) - (446,000)
--------- --------- -------- ---------- --------- ---------
Balance June 30, 1999 1,862,000 3,357,000 (34,000) 31,510,000 (2,065,000)34,630,000
Comprehensive Income:
Net income July 1 to December 31, 1999 --- --- --- 1,507,000 - 1,507,000
Unrealized gains on short-term investments
net of deferred income taxes --- --- 34,000 --- - 34,000
---------
Total comprehensive income 1,541,000
Tax benefit of stock options exercised --- 18,000 --- --- --- 18,000
Reissuance of treasury shares --- 185,000 --- --- 922,000 1,107,000
Purchase of treasury shares --- --- --- --- (700,000) (700,000)
Cash dividends paid --- --- --- (278,000) - (278,000)
Equity in other capital changes of First Indiana
Corporation, net of deferred income --- --- --- 53,000 - 53,000
--------- --------- -------- ---------- --------- ---------
Balance December 31, 1999 1,862,000 3,560,000 --- 32,792,000 (1,843,000)36,371,000
---
Comprehensive Income:
Net income January 1 to June 30, 2000 --- --- --- 2,517,000 - 2,517,000
---------
Total comprehensive income 2,517,000
Tax benefit of stock options exercised --- 12,000 --- --- - 12,000
Reissuance of treasury shares --- (44,000) --- --- 164,000 120,000
Purchase of treasury shares --- --- --- --- (51,000) (51,000)
Cash dividends paid --- --- --- (309,000) - (309,000)
Equity in other capital changes of
First Indiana Corporation, net of
deferred income taxes --- --- --- (163,000) - (163,000)
--------- --------- ------- ---------- --------- ----------
Balance June 30, 2000 $1,862,000 $3,528,000 $34,837,000($1,730,000)$38,497,000
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See accompanying Notes to Condensed Consolidated Financial Statements.
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