SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For quarterly period ended
March 31, 1995
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission File No. 0-16455
NEWMIL BANCORP, INC.
(Exact name of registrant as specified in its charter)
Delaware 06-1186389
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
19 Main St., P.O. Box 600, New Milford, Conn. 06776
(Address of principal executive offices) (Zip Code)
(203) 354-4411
(Registrant's telephone number, including area code)
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
The number of shares of Common Stock outstanding as of March 31,
1995 is 4,485,888.
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 thereunto duly authorized.
NEWMIL BANCORP, INC.
May 11, 1995 By /s/ Anthony J. Nania
Anthony J. Nania,
Chairman of the Board and
Chief Executive Officer
May 11, 1995 By /s/ B. Ian McMahon
B. Ian McMahon,
Chief Financial Officer
<TABLE> <S> <C>
<ARTICLE> 9
<LEGEND>
This schedule contains summary financial information extracted from
the registrant's March 31, 1995 unaudited balance sheet, income
statement and cash flow statement, and notes thereto, and is
qualified in its entirety by reference to such financial
statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAR-31-1995
<PERIOD-END> MAR-31-1995
<CASH> 5,303,000
<INT-BEARING-DEPOSITS> 0
<FED-FUNDS-SOLD> 700,000
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 7,588,000
<INVESTMENTS-CARRYING> 121,680,000
<INVESTMENTS-MARKET> 117,925,000
<LOANS> 149,901,000
<ALLOWANCE> 5,518,000
<TOTAL-ASSETS> 294,868,000
<DEPOSITS> 246,798,000
<SHORT-TERM> 18,078,000
<LIABILITIES-OTHER> 3,517,000
<LONG-TERM> 0
<COMMON> 0
0
2,983,000
<OTHER-SE> 23,492,000
<TOTAL-LIABILITIES-AND-EQUITY> 294,868,000
<INTEREST-LOAN> 8,523,000
<INTEREST-INVEST> 6,196,000
<INTEREST-OTHER> 52,000
<INTEREST-TOTAL> 14,771,000
<INTEREST-DEPOSIT> 5,702,000
<INTEREST-EXPENSE> 6,993,000
<INTEREST-INCOME-NET> 7,778,000
<LOAN-LOSSES> 300,000
<SECURITIES-GAINS> 226,000
<EXPENSE-OTHER> 6,822,000
<INCOME-PRETAX> 1,749,000
<INCOME-PRE-EXTRAORDINARY> 1,749,000
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,712,000
<EPS-PRIMARY> .38
<EPS-DILUTED> .38
<YIELD-ACTUAL> 3.58
<LOANS-NON> 4,714,000
<LOANS-PAST> 558,000
<LOANS-TROUBLED> 0
<LOANS-PROBLEM> 0
<ALLOWANCE-OPEN> 5,246,000
<CHARGE-OFFS> 48,000
<RECOVERIES> 20,000
<ALLOWANCE-CLOSE> 5,518,000
<ALLOWANCE-DOMESTIC> 5,139,000
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 379,000
</TABLE>
