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Previous: STERLING FINANCIAL CORP /PA/, 8-K, 2000-11-01 |
Next: STERLING FINANCIAL CORP /PA/, 8-K, EX-99.2, 2000-11-01 |
<PAGE> 1
EXHIBIT 99.1
STERLING FINANCIAL CORPORATION
Financial Highlights (Unaudited)
(Dollars in thousands, except per share data)
<TABLE>
<CAPTION>
NINE MONTHS ENDED SEPTEMBER 30,
2000 1999
-------------- --------------
<S> <C> <C>
EARNINGS
Interest income $ 83,581 $ 75,236
Interest expense 42,381 34,771
Net interest income 41,200 40,465
Provision for loan losses 447 923
Noninterest income 27,152 23,809
Securities gains 657 827
Noninterest expense 52,784 46,059
Net income 12,063 13,480
Operating net income(a) 14,318 13,854
PER SHARE DATA
Basic and diluted earning per share $ 0.96 $ 1.07
Operating earnings per share -
basic and diluted(a) 1.14 1.10
Dividends per share 0.560 0.536
Book value per realized share 10.74 10.08
PERIOD-END BALANCES
Securities $ 461,523 $ 423,274
Loans 1,035,311 936,406
Allowance for loan losses 11,722 11,934
Total assets 1,666,222 1,541,762
Deposits 1,374,903 1,296,044
Borrowed funds 138,980 103,284
Stockholders' equity 130,913 123,057
RATIOS
Return on average assets 1.00% 1.20%
Operating return on average assets(a) 1.19% 1.23%
Return on average realized equity 12.07% 14.58%
Operating return on average equity(a) 14.32% 14.98%
Allowance for loan losses to loans 1.13% 1.27%
Allowance for loan losses to
nonperforming loans 235% 340%
</TABLE>
(a) Excludes merger-related and restructuring charges, net of tax, of $2,252,000
and $374,000 for the nine-months ended September 30, 2000 and 1999.
<PAGE> 2
STERLING FINANCIAL CORPORATION
Financial Highlights (Unaudited)
(Dollars in thousands, except per share data)
<TABLE>
<CAPTION>
QUARTER ENDING SEPTEMBER 30,
2000 1999
-------------- --------------
<S> <C> <C>
EARNINGS
Interest income $ 28,910 $ 25,868
Interest expense 15,280 12,037
Net interest income 13,630 13,831
Provision for loan losses 158 293
Noninterest income 9,158 7,969
Securities gains 134 141
Noninterest expense 19,757 15,522
Net income 2,399 4,423
Operating net income(a) 4,652 4,437
PER SHARE DATA
Basic and diluted earnings per share $ 0.19 $ 0.35
Operating earnings per share -
basic and diluted(a) 0.37 0.35
Dividends per share 0.190 0.184
RATIOS
Return on average assets 0.58% 1.15%
Operating return on average assets(a) 1.12% 1.15%
Return on average realized equity 7.01% 14.12%
Operating return on average equity(a) 13.58% 14.17%
</TABLE>
(a) Excludes merger-related and restructuring charges, net of tax, of $2,252,000
and $14,000 for the quarter ended September 30, 2000 and 1999.
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