Exhibit 99(a)
99(a)
Analyst package distributed on October 19, 2000
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<CAPTION>
Three months ended Nine months ended
September 30, September 30,
----------------------------------- ----------------------------------
Percent Percent
2000 1999 change 2000 1999 change
------ ------ ----------- ----- ------ ----------
Per Common Share Data
---------------------
Net income:
<S> <C> <C> <C> <C> <C> <C>
Basic $0.30 $0.39 -23.08% $1.01 $0.82 23.17%
Diluted 0.29 0.37 -21.62% 0.97 0.77 25.97%
Cash dividends declared 0.06 0.04 50.00% 0.15 0.12 25.00%
Book value 8.37 7.18 16.57% 8.37 7.18 16.57%
Tangible book value 7.44 6.32 17.72% 7.44 6.32 17.72%
Average shares outstanding:
Basic 5,801,653 5,905,692 -1.76% 5,814,405 5,753,309 1.06%
Diluted 6,018,424 6,148,394 -2.11% 6,027,094 6,105,728 -1.29%
Financial Ratios
----------------
Return on average shareholders' equity 14.33% 20.73% -30.90% 16.48% 14.80% 11.33%
Return on average total assets 0.83% 1.31% -36.49% 0.97% 0.94% 2.67%
Average yield on earning assets 8.83% 8.23% 7.29% 8.69% 8.21% 5.85%
Average rate on interest bearing liabilities 5.31% 4.60% 15.43% 5.11% 4.59% 11.33%
Net interest spread 3.52% 3.63% -3.03% 3.58% 3.62% -1.10%
Net interest margin (FTE) 4.18% 4.24% -1.42% 4.24% 4.22% 0.47%
Efficiency ratio 69.86% 69.03% 1.20% 70.33% 64.97% 8.25%
Risk-based capital - Tier 1 9.23% 9.10% 1.43% 9.23% 9.10% 1.43%
- Total capital 10.32% 10.15% 1.67% 10.32% 10.15% 1.67%
Tier 1 leverage ratio 6.42% 6.44% -0.31% 6.42% 6.44% -0.31%
Average shareholders' equity/average total assets 5.79% 6.30% -8.12% 5.86% 6.37% -8.04%
Asset Quality (dollars in thousands)
-------------------------------------
Allowance for loan losses $6,513 $5,184 25.64% $6,513 $5,184 25.64%
Allowance for loan losses/Loans 1.16% 1.11% 4.50% 1.16% 1.11% 4.50%
Net charge-offs(recoveries) $531 $458 15.94% $2,164 $1,629 32.84%
Net charge-offs/Average loans (annualized) 0.39% 0.39% -0.26% 0.54% 0.49% 11.19%
Nonperforming assets $7,884 $3,760 109.68% $7,884 $3,760 109.68%
Nonperforming assets/Total loans plus OREO 1.41% 0.81% 74.07% 1.41% 0.81% 74.07%
Nonperforming assets/Total assets 0.90% 0.53% 69.81% 0.90% 0.53% 69.81%
Allowance for loan losses/Nonperforming loans 149.79% 137.87% 8.65% 149.79% 137.87% 8.65%
Average Balances (in thousands)
-------------------------------
Loans and leases(gross of reserves) $539,727 $463,056 16.56% $532,904 $446,458 19.36%
Earning assets 777,115 637,235 21.95% 752,626 624,540 20.51%
Total assets 840,487 685,773 22.56% 812,830 667,747 21.73%
Deposits 567,608 460,227 23.33% 547,161 427,595 27.96%
Interest bearing liabilities 680,493 552,507 23.16% 656,707 542,048 21.15%
Shareholders' equity 48,649 43,190 12.64% 47,614 42,540 11.93%
Period End Balances (in thousands)
----------------------------------
Loans and leases(gross of reserves) $562,143 $466,785 20.43% $562,143 $466,785 20.43%
Total assets 878,294 705,294 24.53% 878,294 705,294 24.53%
Deposits 589,645 491,556 19.95% 589,645 491,556 19.95%
Total liabilities 809,746 646,543 25.24% 809,746 646,543 25.24%
Shareholders' equity 48,323 44,305 9.07% 48,323 44,305 9.07%
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Three months ended Three months ended Three months ended Nine months ended
September 30, June 30, March 31, September 30,
--------------------- -------------------- -------------------- ---------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Percent Percent Percent Percent
2000 1999 change 2000 1999 change 2000 1999 change 2000 1999 change
-------------------- -------------------- --------------------- ----------------------
Tax Equivalent Income Statement
($ in thousands, except per share data)
Net interest income(FTE) $8,165 $6,810 20% $8,018 $6,647 21% $7,684 $6,260 23% $23,867 $19,717 21%
FTE adjustment (86) (48) 79% (87) (48) 81% (88) (45) 96% (261) (141) 85%
-------------------- ------------------- -------------------- ------------------------
Net interest income 8,079 6,762 19% 7,931 6,599 20% 7,596 6,215 22% 23,606 19,576 21%
Provision for losses on loans 517 658 -21% 1,175 1,216 -3% 1,058 449 136% 2,750 2,323 18%
Non-Interest Income:
Service charges on deposits 493 572 -14% 687 521 32% 542 420 29% 1,722 1,513 14%
Lease financing fees 372 256 45% 374 401 -7% 290 268 8% 1,036 925 12%
Mutual fund, annuity and insurance
commissions 1,056 713 48% 960 574 67% 879 480 83% 2,895 1,767 64%
Loan brokerage and advisory fees 591 522 13% 541 652 -17% 521 523 0% 1,653 1,697 -3%
Gain(loss) from sale of securities 373 (66) -665% 2 4 -50% (112) (160) -30% 263 (222) -218%
Client warrant income (loss) (103) 2,775 -104% 985 482 104% 2,600 - - 3,482 3,257 7%
Fees and other income 1,411 967 46% 375 626 -40% 160 988 -84% 1,946 2,581 -25%
-------------------- ------------------ -------------------- ------------------------
Total non-interest income 4,193 5,739 -27% 3,924 3,260 20% 4,880 2,519 94% 12,997 11,518 13%
Non-Interest Expenses:
Salaries and employee benefits 4,903 4,391 12% 5,087 3,885 31% 4,784 3,274 46% 14,774 11,550 28%
Occupancy 576 440 31% 513 291 76% 595 316 88% 1,684 1,047 61%
Data processing 239 338 -29% 231 263 -12% 405 217 87% 875 818 7%
Furniture, fixtures and equipment 556 389 43% 560 394 42% 468 259 81% 1,584 1,042 52%
Loan and real estate owned expenses, net 328 188 74% 270 130 108% 231 127 82% 829 445 86%
Professional services 500 539 -7% 524 397 32% 615 366 68% 1,639 1,302 26%
Capital securites expense 537 399 35% 399 399 0% 399 398 0% 1,335 1,196 12%
Other 1,538 2,432 -37% 1,558 1,501 4% 1,697 1,256 35% 4,793 5,189 -8%
--------------------- ------------------- -------------------- -----------------------
Total non-interest expenses 9,177 9,116 1% 9,142 7,260 26% 9,194 6,213 48% 27,513 22,589 22%
--------------------- ------------------- -------------------- -----------------------
Income from continuing operations
before income taxes 2,578 2,727 -5% 1,538 1,383 11% 2,224 2,072 7% 6,340 6,182 3%
Provision for income tax expense 841 905 -7% 529 447 18% 739 755 -2% 2,109 2,107 0%
--------------------- ------------------- -------------------- -----------------------
Income from Continuing Operations 1,737 1,822 -5% 1,009 936 8% 1,485 1,317 13% 4,231 4,075 4%
Gain on sale of discontinued
operations, net of tax 6 - - 1,513 - - - - - 1,519 - -
Income from discontinued
operations, net of tax 9 435 -98% 61 194 -69% 53 6 783% 123 635 -81%
--------------------- ------------------- -------------------- -----------------------
Net income $1,752 $2,257 -22% $2,583 $1,130 129% $1,538 $1,323 16% $5,873 $4,710 25%
===================== =================== ==================== =======================
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QUARTERLY INCOME STATEMENT
(Unaudited)
($ in thousands, except per share) Fourth Third Second First Year-
1999 Quarter Quarter Quarter Quarter to-date
---- --------------------------------------------------------------- ----------
<S> <C> <C> <C> <C> <C>
FTE interest income $14,040 $13,216 $12,781 $12,342 $52,379
Interest expense 6,810 6,406 6,134 6,082 25,432
----------- --------- ---------- ---------- ---------
FTE net interest income 7,230 6,810 6,647 6,260 26,947
Less: FTE adjustment (64) (48) (48) (45) (205)
----------- --------- ----------- ----------- ---------
Net Interest Income 7,166 6,762 6,599 6,215 26,742
Provision for Losses on Loans 1,225 658 1,216 449 3,548
Non-Interest Income:
--------------------
Service charges on deposits 584 572 521 420 2,097
Lease financing fees 298 256 401 268 1,223
Mutual fund, annuity and insurance commissions 902 713 574 480 2,669
Loan brokerage and advisory fees 688 522 652 523 2,385
Gain(loss) from sale of securities (125) (66) 4 (160) (347)
Client warrant income 931 2,775 482 - 4,188
Fees and other income 2,791 967 626 988 5,372
----------- --------- ---------- --------- --------
Total non-interest income 6,069 5,739 3,260 2,519 17,587
Non-Interest Expenses:
----------------------
Salaries and employee benefits 4,300 4,391 3,885 3,274 15,850
Occupancy 448 440 291 316 1,495
Data processing 353 338 263 217 1,171
Furniture, fixtures and equipment 435 389 394 259 1,477
Loan and real estate owned expenses, net 275 188 130 127 720
Professional services 641 539 397 366 1,943
Capital securites expense 399 399 399 398 1,595
Other 2,208 2,432 1,501 1,256 7,397
---------- --------- -------- ------- --------
Total non-interest expenses 9,059 9,116 7,260 6,213 31,648
Income from Continuing Operations Before Income Taxes 2,951 2,727 1,383 2,072 9,133
Provision for income tax expense 994 905 447 755 3,101
---------- ---------- --------- ------- --------
Income from Continuing Operations 1,957 1,822 936 1,317 6,032
Gain on sale of discontinued operations, net of tax - - - - -
Income from discontinued operations, net of tax 4 435 194 6 639
---------- ---------- --------- -------- --------
Net Income $1,961 $2,257 $1,130 $1,323 $6,671
========== ========== ========== ========= ========
Other Data:
EPS - Basic income from continuing operations $0.33 $0.31 $0.16 $0.24 $1.04
EPS - Diluted income from continuing operations $0.32 $0.30 $0.15 $0.22 $0.99
EPS - Basic $0.33 $0.39 $0.19 $0.24 $1.15
EPS - Diluted $0.32 $0.37 $0.18 $0.22 $1.09
ROA 1.08% 1.31% 0.68% 0.82% 0.98%
ROE 17.33% 20.73% 10.60% 12.88% 15.47%
Net interest margin (FTE) 4.29% 4.24% 4.29% 4.13% 4.24%
Dividends declared on common stock $0.05 $0.04 $0.04 $0.04 $0.17
FTE employees 316 292 295 268 316
FTE employees--Continued Operations 294 278 282 256 294
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QUARTERLY INCOME STATEMENT
(Unaudited)
($ in thousands, except per share) Third Second First Year-
2000 Quarter Quarter Quarter to-date
------ ------------- -------------- ---------------- -------------
<S> <C> <C> <C> <C>
FTE interest income $17,256 $16,418 $15,299 $48,973
Interest expense 9,091 8,400 7,615 25,106
---------- ---------- ---------- ----------
FTE net interest income 8,165 8,018 7,684 23,867
Less: FTE adjustment (86) (87) (88) (261)
---------- ---------- ---------- ----------
Net Interest Income 8,079 7,931 7,596 23,606
-------------------
Provision for Losses on Loans 517 1,175 1,058 2,750
Non-Interest Income:
Service charges on deposits 493 687 542 1,722
Lease financing fees 372 374 290 1,036
Mutual fund, annuity and insurance commissions 1,056 960 879 2,895
Loan brokerage and advisory fees 591 541 521 1,653
Gain(loss) from sale of securities 373 2 (112) 263
Client warrant income (loss) (103) 985 2,600 3,482
Fees and other income 1,411 375 160 1,946
---------- ---------- --------- ---------
Total non-interest income 4,193 3,924 4,880 12,997
Non-Interest Expenses:
----------------------
Salaries and employee benefits 4,903 5,087 4,784 14,774
Occupancy 576 513 595 1,684
Data processing 239 231 405 875
Furniture, fixtures and equipment 556 560 468 1,584
Loan and real estate owned expenses, net 328 270 231 829
Professional services 500 524 615 1,639
Capital securites expense 537 399 399 1,335
Other 1,538 1,558 1,697 4,793
--------- --------- --------- ----------
Total non-interest expenses 9,177 9,142 9,194 27,513
Income from Continuing Operations Before Income Taxes 2,578 1,538 2,224 6,340
Provision for income tax expense 841 529 739 2,109
--------- --------- --------- ----------
Income from Continuing Operations 1,737 1,009 1,485 4,231
Gain on sale of discontinued operations, net of tax 6 1,513 - 1,519
Income from discontinued operations, net of tax 9 61 53 123
--------- --------- --------- ----------
Net Income $1,752 $2,583 $1,538 $5,873
========= ========= ========= ===========
Other Data:
------------
EPS - Basic income from continuing operations $0.30 $0.18 $0.25 $0.73
EPS - Diluted income from continuing operations $0.29 $0.17 $0.24 $0.70
EPS - Basic $0.30 $0.45 $0.26 $1.01
EPS - Diluted $0.29 $0.43 $0.25 $0.97
ROA 0.83% 1.27% 0.79% 0.97%
ROE 14.33% 22.69% 12.81% 16.48%
Net interest margin (FTE) 4.18% 4.25% 4.28% 4.24%
Dividends declared on common stock $0.06 $0.05 $0.04 $0.15
FTE employees 326 319 301 326
FTE employees -- Continued Operations 326 319 279 326
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ASSET QUALITY
(Unaudited)
2000 1999
-------------------------------------- ----------------------------------------------------
($ in thousands) Year- Third Second First Year- Fourth Third Second First
Allowance for Loan Losses to-date Quarter Quarter Quarter to-date Quarter Quarter Quarter Quarter
------- ------- ------- ------- ------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Balance at beginning of period $5,927 $6,527 $5,618 $5,927 $4,490 $5,184 $4,984 $4,854 $4,490
Provision 2,750 517 1,175 1,058 3,548 1,225 658 1,216 449
Charge-offs 2,779 704 542 1,533 2,554 638 572 1,184 160
Recoveries (615) (173) (276) (166) (443) (156) (114) (98) (75)
Net loan charge-offs 2,164 531 266 1,367 2,111 482 458 1,086 85
Balance at end of period $6,513 $6,513 $6,527 $5,618 $5,927 $5,927 $5,184 $4,984 $4,854
Allowance as percentage of loans 1.16% 1.16% 1.20% 1.04% 1.18% 1.18% 1.11% 1.09% 1.11%
Net charge-offs/average loans 0.41% 0.10% 0.05% 0.26% 0.46% 0.10% 0.10% 0.24% 0.02%
Allowance as percentage of
non-performing loans 149.79% 149.79% 162.08% 135.73% 103.96% 103.96% 137.87% 104.36% 110.15%
Non-performing assets
---------------------
Non-accrual loans and leases $4,348 $4,348 $4,027 $4,139 $5,701 $5,701 $3,760 $4,776 $4,407
Other real estate owned 3,536 3,536 5,692 - 66 66 - - -
Total non-performing assets $7,884 $7,884 $9,719 $4,139 $5,767 $5,767 $3,760 $4,776 $4,407
Non-performing assets to:
Loans and leases plus OREO 1.41% 1.41% 1.80% 0.77% 1.16% 1.16% 0.81% 1.06% 1.02%
Total assets 0.90% 0.90% 1.16% 0.50% 0.75% 0.75% 0.53% 0.72% 0.66%
Loans past due 90 days $2,015 $2,015 $3,049 $4,569 $2,336 $2,336 $7,282 $5,210 $2,123
Total under-performing loans $9,899 $9,899 $12,768 $8,708 $8,103 $8,103 $11,042 $9,986 $6,530
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AVERAGE BALANCE SHEET DATA
(Unaudited)
2000 1999
-------------------------------------- --------------------------------------------------
($ in thousands) Third Second First Year- Fourth Third Second First Year-
Average balances Quarter Quarter Quarter to-date Quarter Quarter Quarter Quarter to-date
---------------- ------- ------- ------- ------- ------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Cash and due from banks
(Interest-earning) $18,630 $22,015 $16,945 $19,127 $18,322 $21,726 $13,326 $16,294 $16,907
Trading securities - - 1,077 351 343 - - - 86
Loans,net of unearned discounts:
Commercial business 149,579 140,605 130,946 140,366 110,450 105,225 104,634 95,429 103,934
Commercial mortgage 166,918 172,716 166,847 168,840 154,760 143,340 133,390 114,799 136,572
Residential real estate 38,866 41,205 40,686 40,248 42,018 44,109 47,136 49,358 45,656
Construction loans 48,936 50,959 59,720 53,229 54,856 52,724 48,784 44,280 50,161
Consumer 38,080 36,850 34,853 36,592 33,872 31,274 30,229 28,956 31,083
Lease financing 97,348 95,065 88,474 93,629 82,579 77,263 74,213 73,389 76,861
Loans held for sale - - - - - 9,121 9,175 22,550 10,212
------- ------- ------- ------- ------- ------- ------- ------- --------
Total loans 539,727 537,400 521,526 532,904 478,535 463,056 447,561 428,761 454,479
Investment securities(available for sale) 28,467 30,324 31,429 30,072 21,692 9,936 7,513 17,288 14,617
Investment securities(held to maturity) 35,205 34,874 34,418 34,842 31,488 28,685 28,297 13,843 25,578
Mortgage-backed securities 155,086 134,391 116,534 135,330 117,807 113,832 124,458 139,048 123,786
------- ------- ------- ------- ------- ------- ------- ------- --------
Earning assets 777,115 759,004 721,929 752,626 668,187 637,235 621,155 615,234 635,453
Cash and due from banks
(non-interest bearing) 17,270 15,146 16,426 16,307 13,119 14,209 15,349 13,770 14,091
Other non-earning assets 46,102 46,007 40,400 43,897 38,876 34,329 27,618 24,347 31,313
-------- -------- -------- -------- -------- -------- -------- -------- --------
Total assets $840,487 $820,157 $778,775 $812,830 $720,182 $685,773 $664,122 $653,351 $680,857
======== ======== ======== ======== ======== ======== ======== ======== ========
Deposits:
Demand $ 70,700 $ 75,546 $ 69,559 $ 71,925 $ 66,247 $ 57,660 $ 54,101 $ 52,049 $ 57,514
Interest bearing:
NOW and Supernow accounts 95,516 93,225 83,141 90,612 79,772 79,027 79,942 78,084 79,206
Money Market Accounts 37,133 36,234 35,855 36,393 37,053 34,767 34,632 36,142 35,649
Passbook and Stmt Savings 29,148 30,699 31,452 30,434 31,282 31,857 32,161 31,753 31,763
Time deposits 335,111 312,146 306,189 317,797 287,853 256,916 231,197 219,496 248,866
-------- -------- -------- -------- -------- -------- -------- -------- --------
Total interest bearing deposits 496,908 472,304 456,637 475,236 435,960 402,567 377,932 365,475 395,484
Federal Home Loan Bank borrowings 100,500 98,658 88,126 95,761 88,000 88,000 88,000 88,000 88,000
Other borrowings 83,085 89,722 84,257 85,710 54,794 61,940 74,642 79,586 67,740
-------- -------- -------- -------- -------- -------- -------- -------- --------
Interest bearing liabilities 680,493 660,684 629,020 656,707 578,754 552,507 540,574 533,061 551,224
Non-interest bearing liabilities 18,636 23,689 17,425 19,600 15,834 17,973 12,234 12,150 14,547
Capital securities 22,009 14,458 14,453 16,984 14,448 14,443 14,438 14,433 14,441
Total shareholders' equity 48,649 45,780 48,298 47,614 44,899 43,190 42,775 41,658 43,131
-------- -------- -------- -------- -------- -------- -------- -------- --------
Total Liabilities and
Stockholders'Equity $840,487 $820,157 $778,755 $812,830 $720,182 $685,773 $664,122 $653,351 $680,857
======== ======== ======== ======== ======== ======== ======== ======== ========
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AVERAGE BALANCE SHEET DATA - continued
(Unaudited)
2000 1999
---------------------------------------- --------------------------------------------------
Third Second First Year- Fourth Third Second First Year-
Average yields and rates Quarter Quarter Quarter to-date Quarter Quarter Quarter Quarter to-date
------------------------ ------- ------- ------- ------- ------- ------- ------- ------- -------
Interest - earning assets
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Interest-earning deposits 6.58% 6.34% 5.67% 6.24% 4.83% 5.20% 5.03% 4.80% 5.13%
Investment securities 6.83% 6.75% 6.37% 6.65% 6.72% 6.25% 6.43% 6.08% 6.34%
Mortgage-backed securities 7.21% 7.37% 7.12% 7.24% 6.92% 6.48% 6.35% 6.20% 6.47%
Single family residential loans 7.78% 7.55% 7.50% 7.61% 7.22% 7.23% 7.34% 7.37% 7.29%
Commercial real estate loans 8.91% 8.87% 8.68% 8.82% 8.61% 8.56% 8.62% 8.67% 8.62%
Construction loans 11.60% 10.52% 10.23% 10.74% 10.18% 10.05% 10.09% 10.00% 10.09%
Commercial business loans 9.62% 9.14% 8.90% 9.24% 8.51% 8.37% 8.47% 8.77% 8.53%
Lease financing 11.08% 11.27% 11.35% 11.23% 11.01% 11.28% 11.44% 11.03% 11.19%
Consumer loans 8.25% 8.08% 7.81% 8.06% 7.82% 7.87% 7.83% 8.00% 7.88%
Total interest - earning assets 8.83% 8.70% 8.52% 8.69% 8.34% 8.23% 8.25% 8.14% 8.24%
Interest - bearing liabilities
Interest - bearing deposits
NOW and SuperNOW 3.54% 3.34% 3.10% 3.34% 2.91% 2.74% 2.66% 2.77% 2.77%
Money Market 3.16% 3.12% 2.98% 3.09% 2.90% 2.81% 2.73% 2.69% 2.79%
Passbook and Statement Savings 1.77% 1.76% 1.78% 1.77% 1.85% 1.87% 1.90% 1.98% 1.90%
Time deposits 5.99% 5.72% 5.47% 5.74% 5.25% 5.19% 5.14% 5.25% 5.21%
Total interest - bearing deposits 5.06% 4.80% 4.59% 4.82% 4.38% 4.24% 4.12% 4.18% 4.24%
FHLB borrowings 5.98% 5.85% 5.50% 5.79% 5.62% 5.48% 5.57% 5.33% 5.56%
Other borrowings 6.05% 5.97% 5.73% 5.91% 5.47% 5.68% 5.53% 5.90% 5.58%
Total interest - bearing liabilities 5.31% 5.11% 4.87% 5.11% 4.67% 4.60% 4.55% 4.63% 4.61%
Interest Rate Spread 3.52% 3.59% 3.65% 3.58% 3.67% 3.63% 3.70% 3.51% 3.63%
Net Interest Margin 4.18% 4.25% 4.28% 4.24% 4.29% 4.24% 4.29% 4.13% 4.24%
Avg Int-earning assets
to int-bearing liabilities 114.20% 114.88% 114.77% 114.61% 115.45% 115.34% 114.91% 115.42% 115.28%
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PERIOD END BALANCE SHEET DATA
(Unaudited)
2000 1999
----------------------------------- -----------------------------------------------
Third Second First Fourth Third Second First
($ in thousands) Quarter Quarter Quarter Quarter Quarter Quarter Quarter
------- ------- ------- ------- ------- ------- -------
Assets
------
<S> <C> <C> <C> <C> <C> <C> <C>
Cash and due from bank(interest bearing) $16,380 $18,658 $19,668 $27,545 $16,460 $11,743 $22,248
Loans and lease(net) 555,630 535,354 535,084 497,738 461,601 451,967 431,113
Investment securities:
Held-to-maturity:
Book 35,382 35,103 34,578 34,309 28,721 28,459 18,747
Market 32,031 33,440 33,151 32,914 27,660 27,963 18,926
Available-for-sale 27,558 28,830 32,167 30,632 24,493 7,165 17,366
Mortgage-backed securities 175,960 152,779 135,162 118,886 119,926 117,629 130,132
------- ------- ------- ------- ------- ------- -------
Earning assets 810,910 770,724 756,659 709,110 651,201 616,963 619,606
Cash and due from bank(non-interest bearing) 18,076 16,926 18,687 15,648 13,356 14,113 15,663
Other non-earning assets 49,308 51,659 46,101 42,995 39,155 34,861 31,668
Net assets of discontinued operations - - 1,164 1,188 1,582 1,008 630
------- ------- ------- ------- ------- ------- -------
Total assets $878,294 $839,309 $822,611 $768,941 $705,294 $666,945 $667,567
======== ======== ======== ======== ======== ======== ========
Liabilities and shareholders' equity
------------------------------------
Deposits:
Demand $77,558 $79,213 $80,230 $65,305 $56,516 $57,201 $57,226
Interest bearing 512,087 491,120 467,410 456,134 435,040 387,927 377,644
------- ------- ------- -------- -------- -------- --------
Total deposits 589,645 570,333 547,640 521,439 491,556 445,128 434,870
Federal Home Loan Bank borrowings 100,500 100,500 88,000 88,000 88,000 88,000 88,000
Other borrowings 91,689 90,630 91,111 74,767 53,349 66,160 77,344
------- ------- ------- -------- ------- ------- -------
Interest bearing liabilities 781,834 761,463 726,751 684,206 632,905 599,288 600,214
Other Liabilities 27,912 16,590 35,011 22,475 13,638 10,475 11,265
------- ------- ------- -------- -------- ------- -------
Total liabilities 809,746 778,053 761,762 706,681 646,543 609,763 611,479
Capital Securities 20,225 14,461 14,456 14,451 14,446 14,436 14,411
Total shareholders' equity 48,323 46,795 46,393 47,809 44,305 42,746 41,677
------- -------- -------- -------- -------- ------- -------
Total Liabilities, cap sec, and equity $878,294 $839,309 $822,611 $768,941 $705,294 $666,945 $667,567
======== ======== ======== ======== ======== ======== ========
Other selected balances
-----------------------
Intangible assets - Goodwill 5,377 5,499 5,832 4,914 5,090 5,190 5,053
Amount included in shareholders' equity
for net unrealized gains on investments
available-for-sale (3,330) (3,749) (2,023) 1,234 (1,557) (1,896) (871)
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Capital Data
(Unaudited)
2000 1999
------------------------------------------- ----------------------------------------------------
Third Second First Year- Fourth Third Second First Year-
Quarter Quarter Quarter to-date Quarter Quarter Quarter Quarter to-date
------------------------------------------- ----------------------------------------------------
Per common share
-----------------
Shares outstanding:
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Average-basic 5,801,653 5,795,006 5,846,695 5,814,405 5,851,322 5,905,692 5,729,985 5,621,123 5,778,014
Average-diluted 6,018,424 6,003,123 6,060,489 6,027,094 6,078,120 6,148,394 6,126,035 6,043,260 6,100,161
Period-end 5,773,706 5,798,495 5,813,995 5,773,706 5,788,605 5,870,869 5,929,042 5,668,471 5,788,605
Book value $8.37 $8.07 $7.98 $8.37 $8.26 $7.18 $7.21 $7.35 $8.26
Tangible Book Value $7.44 $7.12 $6.98 $7.44 $7.41 $6.32 $6.33 $6.46 $7.41
Price:
High 12 79/128 11 27/32 12 67/256 12 79/128 12 79/128 14 11/32 15 165/256 14 51/128 15 165/256
Low 11 3/16 10 15/128 10 107/256 10 15/128 11 35/64 12 5/256 12 237/256 10 113/128 10 113/128
Close 11 1/4 11 201/256 10 107/256 11 1/4 12 3/128 12 1/2 13 17/64 13 39/256 12 3/128
Capital ratios
--------------
($ in thousands)
Risk-based capital:
Tier 1 capital $55,182 $53,125 $50,282 $55,182 $47,112 $44,414 $42,798 $41,467 $47,112
% risk adjusted assets 9.23% 9.22% 9.05% 9.23% 8.90% 9.10% 8.96% 9.08% 8.90%
Total capital $61,678 $59,633 $55,873 $61,678 $53,006 $49,584 $47,767 $46,279 $53,006
% risk adjusted assets 10.32% 10.35% 10.06% 10.32% 10.01% 10.15% 10.00% 10.13% 10.01%
Tier 1 leverage ratio 6.42% 6.42% 6.22% 6.42% 6.30% 6.44% 6.58% 6.37% 6.30%
Average shareholders' equity to
total average assets 5.79% 5.58% 6.20% 5.86% 6.23% 6.30% 6.44% 6.37% 6.33%
</TABLE>
