TECHE HOLDING COMPANY 
By NEW IBERIA, LA -- (Marketwired) -- 07/24/13 -- (NYSE MKT: TSH) Patrick Little, President and CEO of Teche Holding Company, holding company for Teche Federal Bank, today reported on earnings for the Company for the quarter ended June 30, 2013, the third quarter of fiscal year 2013.
Earnings for the quarter ended June 30, 2013 amounted to $2.0 million or $0.95 per diluted share, compared to $1.7 million or $0.83 per diluted share for the same quarter in fiscal 2012, an increase of $0.12 per diluted share, or 14.5%.
Earnings for the nine month period ended June 30, 2013 amounted to a record $6.6 million, or $3.19 per diluted share, compared to $5.2 million or $2.50 per diluted share, for the same period in fiscal 2012, an increase of $0.69 per diluted share, or 27.6%.
A reclassification of deferred interest payment resulted in a one-time after-tax earning boost of $0.08 per share for the quarter.
"Our loan growth has been strong," stated Little. "In nine months, we've originated $185.7 million in total loans," said Little. "That's 6.5% more than our record-breaking loan production last year. It's a great testimony to our loan department and our local economy."
"And asset quality is good," he continued. "Net charge-offs are very low, as are non-performing assets."
"Our ROAA fiscal year to date is 1.03% and our ROAE is 10.08%," continued Little.
"Our fiscal year to date earnings of $3.19 per share is another record," said Little. "And tangible book value per share, now over $41, continues its steady growth."
- Total loan balances increased 3.8%, annualized 15.23% or $ 24.5 million to $667.8 million compared to the linked quarter and increased 1.1% compared to June 30, 2012.
- Total loan originations amounted to $65.3 million for the quarter.
- Non-performing loans were at $5.1 million for the quarter and the linked quarter, a decrease from $10.6 million at June 30, 2012.
- Net charge-offs for the quarter decreased to 0.01% of average loans.
- Checking account balances seasonally decreased $6.7 million, or 2.6% compared to the linked quarter while increasing 15.3 % compared to the quarter ended June 30, 2012.
- SmartGrowth Deposits seasonally decreased 1.9% over the linked quarter while increasing 9.1% compared to a year ago. SmartGrowth Deposits amounted to 79.1% of total deposits, compared to 79.0% at March 31, 2013 and 76.2% a year ago.
- The average rate paid on all deposits was 0.41% for the quarter compared to 0.45% for the linked quarter and 0.64% a year ago.
- Cost of interest bearing liabilities amounted to 1.00%, compared to 1.04% for the linked quarter and 1.23% a year ago.
- Net interest margin for the quarter amounted to 4.01%, compared to 3.78% for the linked quarter and 4.06 % a year ago.
- Net interest income increased $457,000 compared to the linked quarter primarily due to a reclassification of deferred interest payments of approximately $260,000.
- The Company repurchased 1.7% of its outstanding common stock during the quarter.
- The Company paid a quarterly dividend of $0.37 per share compared to $0.365 per share for the quarter ended June 30, 2012, or an increase of 1.4%.
- Tangible book value per share increased to $41.06, an increase of 1.1%, or $0.44 per share, compared to the linked quarter-end and an increase of 6.6%, or $2.55 per share, year-over-year.
"Even after our loan sale in late 2012, quarterly earnings are already at the same levels as a year ago," said Little.
"Our asset quality is reflected in our low net charge-offs, our high coverage ratios and our steady ALLL/Loans ratio," said Little.
The following table sets forth asset quality ratios and allowance for loan loss activity for each of the past five quarters:
*ALLL figures include specific reserves.
The ALLL/NPL ratio increased to 158.84% for the quarter ended June 30, 2013 from 158.54% in the linked quarter. The ALLL/NPA ratio decreased to 132.76% for the quarter ended June 30, 2013 from 138.95% in the linked quarter. The NPA/Assets ratio increased to 0.72% for the quarter ended June 30, 2013 from 0.68% for the quarter ended March 31, 2013.
Non-performing assets increased slightly to $6.1 million, or 0.72% of total assets at June 30, 2013, compared to $5.9 million or 0.68% of total assets at March 31, 2013 and decreased from $11.3 million, or 1.34% of total assets a year ago. The year over year decrease in non-performing assets was primarily due to the payoff of a non-performing loan in the amount of $3.8 million during the quarter ended March 31, 2013.
The following table sets forth the allowance for loan loss activity for each of the past five quarters.
The allowance for loan losses was 1.20% of total loans, or $8.0 million, at June 30, 2013 compared to 1.26% of total loans, or $8.1 million at March 31, 2013 and 1.27% of total loans, or $8.4 million at June 30, 2012.
Net charge-offs for the quarter were $0.1 million, or 0.01% of average loans, compared to $0.5 million, or 0.08% of average loans, for the same period a year ago. For the twelve months ended June 30, 2013, net charge-offs were $1.3 million, or 0.19% of average loans, compared to $1.9 million, or 0.30% of average loans for the twelve months ended June 30, 2012.
Capital
Over the past twelve months, stockholders' equity increased 6.1% to a record $86.7 million. The tangible equity ratio at June 30, 2013 increased to 9.92% compared to 9.29% a year ago. Tangible book value per common share increased to a record $41.06, an increase of 6.6% compared to a year ago. Risk based capital increased to 14.31% compared to 13.79% a year ago and the ratio of equity to assets increased to 10.31% from 9.68% a year ago.
Over the past twelve months total assets decreased 0.5% or $3.9 million to $839.8 million.
On May 23, 2013, the Board of Directors declared a $0.37 per share quarterly dividend.
Interest income increased in the quarter ended June 30, 2013 as compared to the linked quarter, primarily due to reclassification of deferred interest payments of approximately $260,000 on some previously classified non-accrual loans that are now either current or less than 90 days delinquent.
Net interest margin amounted to 4.01% for the quarter ended June 30, 2013 compared to 4.06% for the quarter ended June 30, 2012. The decrease was primarily due to lower interest rates on loan originations during the last twelve months. The Company manages the risk of interest rates possibly rising in the future by continuing to grow core deposits, primarily checking and savings accounts, and by investing in longer term Federal Home Loan Bank advances.
Spread amounted to 3.86% for the quarter ended June 30, 2013, compared to 3.87% for the same period in the previous year. Average yield on earning assets decreased 25 basis points from 5.10% for the quarter ended June 30, 2012 to 4.85% for the quarter ended June 30, 2013, while the average cost of funds decreased 23 basis points from 1.23% to 1.00% for the same periods, respectively.
The table below reflects the Company's operating revenues in millions over the past five quarters:
Operating revenue for the quarter ended June 30, 2013, consisting of net interest income (before provisions for loan losses) plus non-interest income, amounted to $11.7 million, which was $0.3 million more than the same quarter in 2012.
Non-interest income decreased slightly to $3.9 million for the quarter ended June 30, 2013 from $4.0 million for the linked quarter, but increased slightly from $3.7 million for the quarter ended June 30, 2012. Non-interest income amounted to 1.84% of average assets for the quarter, compared to 1.87% for the linked quarter and 1.76% a year ago.
Non-Interest Expense
For the quarter ended June 30, 2013, non-interest expense was $8.7 million, or 4.11% of average assets, compared to $8.7 million, or 4.11% of average assets, for the linked quarter. Non-interest expense increased $0.4 million, or 5.4%, to $8.7 million for the quarter ended June 30, 2013 from $8.3 million for the quarter ended June 30, 2012, primarily due to compensation and marketing expenses.
Linked Quarter Comparison. Gross loans receivable increased to $667.8 million at June 30, 2013, from $643.3 million at March 31, 2013, an increase of $24.5 million, or 3.8%. SmartGrowth Loans, consisting of commercial loans, home equity loans, SmartMortgage loans and consumer loans, were $491.6 million, or 73.6% of total loans at June 30, 2013, compared to $474.3 million, or 73.7% of total loans at March 31, 2013, a three month increase of $17.3 million, or 3.6% primarily due to increases in mobile home originations, commercial loan originations, and SmartMortgage loan originations, offset somewhat by a decrease in home equity loans due to payoffs.
Commercial loan balances at June 30, 2013 amounted to $216.9 million, compared to $212.4 million at March 31, 2013, a three month increase of $4.5 million or 2.1%.
Consumer loan balances at June 30, 2013 amounted to $122.4 million, compared to $115.8 million at March 31, 2013, a linked quarter increase of $6.6 million, or 5.7%.
One Year Comparison. Gross loans receivable increased to $667.8 million at June 30, 2013 from $660.5 million at June 30, 2012, a twelve month increase of $7.3 million, or 1.1%. SmartGrowth Loans increased to $491.6 million at June 30, 2013, from $477.2 million at June 30, 2012, a twelve month increase of $14.4 million, or 3.0%.
Commercial loan balances at June 30, 2013 amounted to $216.9 million, compared to $216.9 million at June 30, 2012. Consumer loan balances at June 30, 2013 amounted to $122.4 million, compared to $109.3 million at June 30, 2012 a twelve month increase of $13.1 million, or 12.0%. "Loan growth, with our emphasis on quality, is a primary focus for Teche," said Chief Lending Officer, Darryl Broussard. "Our strong south Louisiana economy presents opportunities for growth."
Deposits
The Bank has 45,792 active checking accounts, with balances totaling $252.3 million, which amounts to an average balance of $5,500 per account.
Linked Quarter Comparison. Total deposits decreased to $647.4 million at June 30, 2013, from $660.4 million at March 31, 2013, a linked quarter decrease of $13.0 million, or 2.0%. The Company's SmartGrowth Deposit Accounts, consisting of checking accounts, money market accounts, and savings accounts decreased $9.8 million, or 1.9%, to $511.9 million at June 30, 2013, from $521.7 million at March 31, 2013.
Checking account balances decreased $6.7 million, or 2.6%, to $252.3 million at June 30, 2013, from $259.0 million at March 31, 2013.
One Year Comparison. Total deposits increased to $647.4 million at June 30, 2013, from $615.5 million at June 30, 2012, a twelve month increase of $31.9 million, or 5.2%. Total SmartGrowth Deposits increased $42.6 million, or 9.1% from $469.3 million at June 30, 2012 to $511.9 million at June 30, 2013.
SmartGrowth Deposits amounted to 79.1% of total deposits as of June 30, 2013 compared to 76.2% at June 30, 2012.
Checking account balances have increased 15.4%, or $33.6 million, in the past twelve months from $218.7 million at June 30, 2012 to $252.3 million at June 30, 2013. Checking account balances at June 30, 2013 accounted for 39.0% of total deposits compared to 35.5% of total deposits at June 30, 2012.
Teche Holding Company is the parent company of Teche Federal Bank, which operates twenty offices in South Louisiana and serves over 86,000 customers. Teche is the fourth largest publicly traded bank holding company based in Louisiana with over $839 million in assets. Deposits at Teche Federal Bank are insured up to the legal maximum amount by the Federal Deposit Insurance Corporation (FDIC). Teche Holding Company's common stock is traded under the symbol "TSH" on the NYSE-MKT.
Statements contained in this news release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by Teche Holding Company with the Securities and Exchange Commission from time to time. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
TECHE HOLDING COMPANY
(Dollars in thousands, except per share data)
New Iberia, LA
Statements of Income
(UNAUDITED)
THREE MONTHS ENDED
------------------------------------------------
Jun. Mar. Dec. Sep. Jun.
Condensed Statements of
Income 2013 2013 2012 2012 2012
-------- -------- -------- -------- --------
Interest Income $ 9,392 $ 9,002 $ 9,571 $ 9,836 $ 9,725
Interest Expense 1,630 1,697 1,832 1,895 1,993
-------- -------- -------- -------- --------
Net Interest Income 7,762 7,305 7,739 7,941 7,732
Provision for Loan Losses - 250 150 500 510
-------- -------- -------- -------- --------
Net Interest Income after
Provision for Loan Losses 7,762 7,055 7,589 7,441 7,222
Non Interest Income 3,904 3,971 5,812 4,208 3,651
Non Interest Expense 8,737 8,705 8,752 8,534 8,287
-------- -------- -------- -------- --------
Income Before Income Taxes 2,929 2,321 4,649 3,115 2,586
Income Taxes 976 762 1,577 1,042 854
-------- -------- -------- -------- --------
Net Income $ 1,953 $ 1,559 $ 3,072 $ 2,073 $ 1,732
======== ======== ======== ======== ========
Selected Financial Data
-------- -------- -------- -------- --------
Dividends Declared Per
Share $ 0.37 $ 0.00 $ 0.73 $ 0.365 $ 0.365
Basic Earnings Per Common
Share $ 0.96 $ 0.76 $ 1.51 $ 1.02 $ 0.84
Diluted Earnings Per
Common Share $ 0.95 $ 0.75 $ 1.49 $ 1.01 $ 0.83
Annualized Return on Avg.
Assets 0.92% 0.74% 1.44% 0.98% 0.83%
Annualized Return on Avg.
Equity 8.89% 7.19% 14.17% 9.81% 8.28%
Annualized Return on Avg.
angible Equity (1) 9.27% 7.52% 14.80% 10.25% 8.67%
Yield on Interest Earning
Assets 4.85% 4.66% 4.92% 5.07% 5.10%
Cost of Interest Bearing
Liabilities 1.00% 1.04% 1.11% 1.14% 1.23%
Spread 3.86% 3.62% 3.80% 3.93% 3.87%
Net Interest Margin 4.01% 3.78% 3.98% 4.10% 4.06%
Non-Interest Income/Avg.
Assets 1.84% 1.87% 2.73% 1.99% 1.76%
Non-Interest Expense/Avg.
Assets 4.11% 4.11% 4.11% 4.03% 3.99%
Quarterly Net Charge-
offs/Avg. Loans 0.01% 0.05% 0.07% 0.05% 0.08%
Weighted avg. shares
Outstanding
Basic 2,030 2,038 2,039 2,028 2,055
Diluted 2,064 2,066 2,064 2,061 2,078
AVERAGE BALANCE SHEET DATA
-------- -------- -------- -------- --------
Total Assets $849,265 $847,615 $851,126 $846,114 $830,958
Earning assets $773,856 $772,248 $778,592 $775,399 $762,007
Loans $655,058 $641,192 $667,191 $665,952 $648,640
Interest-bearing deposits $547,249 $538,889 $527,476 $521,708 $523,488
Total deposits $648,985 $640,504 $623,689 $612,785 $617,209
Total stockholders' equity $ 87,892 $ 86,682 $ 86,713 $ 84,525 $ 83,643
(1) Eliminates the effect of goodwill and the core deposit intangible
assets and the related amortization expense on a tax effected basis. The
amount was calculated using the following information.
Average Stockholders'
Equity $ 87,892 $ 86,682 $ 86,713 $ 84,525 $ 83,643
Less average goodwill and
other intangible assets,
net of related income
taxes 3,655 3,656 3,657 3,659 3,664
-------- -------- -------- -------- --------
Average Tangible Equity $ 84,237 $ 83,026 $ 83,056 $ 80,866 $ 79,979
======== ======== ======== ======== ========
Net Income $ 1,953 $ 1,559 $ 3,072 $ 2,073 $ 1,732
Plus Amortization of core
deposit intangibles, net
of related income taxes 1 1 1 1 2
-------- -------- -------- -------- --------
Net Income, as adjusted $ 1,954 $ 1,560 $ 3,073 $ 2,074 $ 1,734
======== ======== ======== ======== ========
TECHE HOLDING COMPANY
(Dollars in thousands, except per share data)
New Iberia, LA
Statements of Income
(UNAUDITED)
FISCAL YEAR TO DATE (NINE MONTHS)
ENDED
--------------------------------------
Jun. Jun.
2013 2012 $Change %Change
-------- -------- -------- -------
Interest Income $ 27,966 $ 29,298 $ (1,332) (4.5%)
Interest Expense 5,160 6,185 (1,025) (16.6%)
-------- -------- -------- -------
Net Interest Income 22,806 23,113 (307) (1.3%)
Provision for Loan Losses 400 1,410 (1,010) (71.6%)
-------- -------- -------- -------
Net Interest Income after Provision
for Loan Losses 22,406 21,703 703 3.2%
Non Interest Income 13,687 11,301 2,386 21.1%
Non Interest Expense 26,194 25,179 1,015 4.0%
-------- -------- -------- -------
Income Before Income Taxes 9,899 7,825 2,074 26.5%
Income Taxes 3,315 2,613 702 26.9%
-------- -------- -------- -------
Net Income $ 6,584 $ 5,212 $ 1,372 26.3%
======== ======== ======== =======
Selected Financial Data
-------- -------- -------- -------
Dividends Declared Per Share $ 1.10 $ 1.09 $ 0.01 0.9%
Basic Earnings Per Common Share $ 3.23 $ 2.53 $ 0.70 27.7%
Diluted Earnings Per Common Share $ 3.19 $ 2.50 $ 0.69 27.6%
Annualized Return on Avg. Assets 1.03% 0.85% 0.18% 21.2%
Annualized Return on Avg. Equity 10.08% 8.45% 1.63% 19.3%
Annualized Return on Avg. Tangible
Equity (1) 10.53% 8.84% 1.69% 19.1%
Yield on Interest Earning Assets 4.81% 5.20% (0.39%) (7.5%)
Cost of Interest Bearing
Liabilities 1.05% 1.28% (0.23%) (18.0%)
Spread 3.76% 3.92% (0.16%) (4.1%)
Net Interest Margin 3.92% 4.10% (0.18%) (4.4%)
Non-Interest Income/Avg. Assets 2.15% 1.84% 0.31% 16.9%
Non-Interest Expense/Avg. Assets 4.11% 4.10% 0.01% 0.2%
Quarterly Net Charge-offs/Avg.
Loans 0.14% 0.21% (0.07%) (33.3%)
Weighted avg. shares Outstanding
Basic 2,036 2,061 (25) (1.2%)
Diluted 2,065 2,081 (16) (0.8%)
AVERAGE BALANCE SHEET DATA
-------- -------- -------- -------
Total Assets $849,363 $817,959 $ 31,404 3.8%
Earning assets $774,922 $751,186 $ 23,736 3.2%
Loans $654,576 $635,304 $ 19,372 3.0%
Interest-bearing deposits $537,828 $519,643 $ 18,185 3.5%
Total deposits $637,663 $606,739 $ 30,924 5.1%
Total stockholders' equity $ 87,094 $ 82,235 $ 4,859 5.9%
(1) Eliminates the effect of goodwill and the core deposit intangible
assets and the related amortization expense on a tax effected basis. The
amount was calculated using the following information.
Average Stockholders' Equity $ 87,094 $ 82,235 $ 4,859 5.9%
Less average goodwill and other
intangible assets, net of related
income taxes 3,657 3,666 (9) (0.2%)
Average Tangible Equity 83,437 78,569 4,868 6.2%
======== ======== ======== =======
Net Income 6,584 5,212 1,372 26.3%
Plus Amortization of core deposit
intangibles, net of related income
taxes 3 6 (3) (50.0%)
-------- -------- -------- -------
Net Income, as adjusted $ 6,587 $ 5,218 $ 1,369 26.2%
======== ======== ======== =======
TECHE HOLDING COMPANY
(Dollars in thousands, except per share data)
New Iberia, LA
Balance Sheet
(UNAUDITED)
Jun. Mar. Dec. Sep. Jun.
2013 2013 2012 2012 2012
-------- -------- -------- -------- --------
SmartGrowth Loans
Consumer $122,379 $115,803 $113,365 $110,235 $109,287
Commercial 216,887 212,359 220,463 215,212 216,929
Home Equity 41,737 42,107 42,546 43,233 44,513
SmartMortgage Loans 110,586 104,040 100,859 111,072 106,532
-------- -------- -------- -------- --------
Total SmartGrowth Loans 491,589 474,309 477,233 479,752 477,261
Mortgage Loans (owner occupied
conforming) 176,188 168,989 165,364 194,650 183,274
-------- -------- -------- -------- --------
667,777 643,298 642,597 674,402 660,535
Allowance for Loan Losses (8,038) (8,135) (8,234) (8,559) (8,411)
-------- -------- -------- -------- --------
Loans Receivable, Net 659,739 635,163 634,363 665,843 652,124
Cash and Securities 116,709 162,262 142,406 124,080 129,750
Goodwill and Other Intangibles 3,654 3,656 3,657 3,659 3,661
Foreclosed Real Estate 950 639 697 513 625
Other 58,769 58,609 58,575 57,867 57,608
-------- -------- -------- -------- --------
TOTAL ASSETS $839,821 $860,329 $839,698 $851,962 $843,768
======== ======== ======== ======== ========
SmartGrowth Deposits
Checking $252,278 $259,014 $230,845 $220,268 $218,717
Money Market 49,768 52,077 54,955 55,251 52,478
Savings 209,896 210,636 204,241 198,667 198,042
-------- -------- -------- -------- --------
Total Smart Growth Deposits 511,942 521,727 490,041 474,186 469,237
Time Deposits 135,490 138,728 140,598 143,536 146,227
-------- -------- -------- -------- --------
Total Deposits 647,432 660,455 630,639 617,722 615,464
FHLB Advances 98,757 107,903 117,034 142,751 139,955
Other Liabilities 6,971 5,340 7,258 7,948 6,669
Stockholders' Equity 86,661 86,631 84,767 83,541 81,680
-------- -------- -------- -------- --------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $839,821 $860,329 $839,698 $851,962 $843,768
======== ======== ======== ======== ========
Ratio of Equity to Assets 10.32% 10.07% 10.09% 9.81% 9.68%
Tangible Equity Ratio 9.92% 9.69% 9.70% 9.42% 9.29%
Total Risk-Based Capital Ratio 14.31% 14.38% 14.34% 14.09% 13.79%
Book Value per Common Share $ 42.82 $ 42.40 $ 41.65 $ 41.09 $ 40.32
Tangible Book Value Per Common
Share (1) $ 41.06 $ 40.62 $ 39.86 $ 39.29 $ 38.51
Shares Outstanding (in
thousands) 2,024 2,043 2,035 2,033 2,026
Non-performing Assets/Total
Assets 0.72% 0.68% 1.20% 1.28% 1.34%
ALLL/Loans 1.20% 1.26% 1.28% 1.27% 1.27%
ALLL/NPLs 158.84% 158.54% 87.76% 82.52% 79.63%
(1) Eliminates the effect of goodwill and the core deposit intangible
assets and the related amortization expense on a tax affected basis. The
amount was calculated using the following information.
Stockholders' Equity $ 86,661 $ 86,631 $ 84,767 $ 83,541 $ 81,680
Less goodwill and other
Intangible assets, net of
related income taxes (3,651) (3,654) (3,656) (3,655) (3,658)
-------- -------- -------- -------- --------
Tangible Stockholders' Equity $ 83,010 $ 82,977 $ 81,111 $ 79,886 $ 78,022
======== ======== ======== ======== ========
Total Assets $839,821 $860,329 $839,698 $851,962 $843,768
Less goodwill and other
Intangible assets, net of
related income taxes (3,651) (3,654) (3,656) (3,655) (3,658)
-------- -------- -------- -------- --------
Total Tangible Assets $836,170 $856,675 $836,042 $848,307 $840,110
======== ======== ======== ======== ========
Net Net 90 Days + 90 Days +
Quarter-End Loan Data Total Charge- Charge- Non Non
June 30, 2013 Loans Offs Offs Accrual Accrual
(In 000's) Dollars Dollars Percentage Dollars Percentage
-------- ------- ---------- --------- ----------
Real Estate Loans
Construction $ 14,808 $ -- 0.00% $ -- 0.0%
Permanent, Secured by:
1-4 Dwelling Units:
Revolving, Open-End
Loans (HELOC) $ 22,028 21 0.10% 66 0.3%
All Other
Secured by First
Liens 372,817 12 0.00% 3,261 0.9%
Secured by Junior
Liens 6,468 -- 0.00% -- 0.0%
Multifamily (5+
Dwelling Units) 20,607 -- 0.00% 951 4.6%
Nonresidential
Property (Except
Land) 105,964 30 0.03% 150 0.1%
Land 30,930 1 0.00% 359 1.2%
-------- ------- ---------- --------- ----------
Consumer 20,437 -- 0.00% 70 3.4%
-------- ------- ---------- --------- ----------
Commercial 10,493 1 0.01% 289 2.8%
-------- ------- ---------- --------- ----------
Subtotal - Real Estate
Loans $573,622 $ 64 0.01% $ 4,787 0.8%
-------- ------- ---------- --------- ----------
Non-Real Estate Loans:
Commercial Loans $ 30,109 $ 13 0.04% $ 91 0.3%
Consumer Loans:
Loans on Deposits 3,431 -- 0.00% 24 0.7%
Auto Loans 2,647 6 0.02% -- 0.0%
Mobile Home Loans 40,692 1 0.00% 262 0.6%
Other 17,236 14 0.08% 94 0.3%
-------- ------- ---------- ---------
Subtotal - Non Real
Estate Loans $ 94,115 34 0.04% $ 471 0.5%
-------- ------- ---------- --------- ----------
Gross Loans $667,777 $ 98 0.01% $ 5,258 0.8%
======== ======= =========
Non-accruals $ 4,926
90 + Days Past Due 332
OREO & Foreclosed 994
--------
Nonperforming Assets
(Net) $ 6,252
========
Performing TDRs --
Net Net 90 Days + 90 Days +
Quarter-End Loan Data Total Charge- Charge- Non Non
March 31, 2013 Loans Offs Offs Accrual Accrual
(In 000's) Dollars Dollars Percentage Dollars Percentage
-------- ------- ---------- --------- ----------
Real Estate Loans
Construction $ 14,902 $ -- 0.00% $ -- 0.0%
Permanent, Secured
by:
1-4 Dwelling Units:
Revolving, Open-
End Loans
(HELOC) 21,431 15 0.07% 28 0.1%
All Other
Secured by
First Liens $356,098 183 0.05% $ 2,831 0.8%
Secured by
Junior Liens 6,625 -- 0.00% -- 0.0%
Multifamily (5+
Dwelling Units) 19,848 -- 0.00% 911 4.6%
Nonresidential
Property (Except
Land) 103,626 (15) (0.01%) 347 0.3%
Land 30,000 34 0.11% 820 2.7%
-------- ------- ---------- --------- ----------
Consumer 20,125 14 0.07% 96 0.5%
-------- ------- ---------- --------- ----------
Commercial 9,875 20 0.20% 724 7.3%
-------- ------- ---------- --------- ----------
Subtotal - Real Estate
Loans $552,530 217 0.04% $ 4,937 0.9%
-------- ------- ---------- --------- ----------
Non-Real Estate Loans:
Commercial Loans $ 29,942 $ -- 0.00% $ 14 0.0%
Consumer Loans:
Loans on Deposits 3,416 1 0.03% 25 0.7%
Auto Loans 2,459 -- 0.00% 5 0.2%
Mobile Home Loans 38,626 124 0.32% 225 0.6%
Other 16,325 7 0.04% 123 0.8%
-------- ------- ---------- ---------
Subtotal - Non Real
Estate Loans $ 90,768 132 0.15% $ 392 0.4%
-------- ------- ---------- --------- ----------
Gross Loans $643,298 $ 349 0.05% $ 5,329 0.8%
======== ======= =========
Non-accruals $ 4,994
90 + Days Past Due 335
OREO & Foreclosed 994
--------
Nonperforming Assets
(Net) $ 6,323
========
Performing TDRs --
Net Net 90 Days + 90 Days +
Quarter-End Loan Data Total Charge- Charge- Non Non
December 31, 2012 Loans Offs Offs Accrual Accrual
(In 000's) Dollars Dollars Percentage Dollars Percentage
-------- ------- ---------- --------- ----------
Real Estate Loans
Construction $ 17,108 $ -- 0.00% $ -- 0.0%
Permanent, Secured by:
1-4 Dwelling Units:
Revolving, Open-End
Loans (HELOC) 20,839 -- 0.00% 68 0.3%
All Other
Secured by First
Liens 347,104 285 0.08% 2,888 0.8%
Secured by Junior
Liens 6,800 -- 0.00% -- 0.0%
Multifamily (5+
Dwelling Units) 20,112 -- 0.00% 943 4.7%
Nonresidential
Property (Except
Land) 103,307 -- 0.00% 212 0.2%
Land 34,040 121 0.36% 4,714 13.8%
-------- ------- ---------- --------- ----------
Consumer 19,973 -- 0.00% 177 0.9%
-------- ------- ---------- --------- ----------
Commercial 14,067 121 0.86% 4,537 32.3%
-------- ------- ---------- --------- ----------
Subtotal - Real Estate
Loans $549,310 $ 406 0.07% $ 8,825 1.6%
-------- ------- ---------- --------- ----------
Non-Real Estate Loans:
Commercial Loans $ 33,364 $ -- 0.00% $ 14 0.0%
Consumer Loans:
Loans on Deposits 3,431 -- 0.00% 50 1.5%
Auto Loans 2,198 13 0.59% 8 0.4%
Mobile Home Loans 38,055 54 0.14% 645 1.7%
Other 16,239 2 0.01% 39 0.2%
-------- ------- ---------- ---------
Subtotal - Non Real
Estate Loans $ 93,287 $ 69 0.07% $ 756 0.8%
-------- ------- ---------- --------- ----------
Gross Loans $642,597 $ 475 0.07% $ 9,581 1.5%
======== ======= ========== ========= ==========
Non-accruals $ 9,177
90 + Days Past Due 404
OREO & Foreclosed 683
--------
Nonperforming Assets
(Net) $ 10,264
========
Performing TDRs --
Net Net 90 Days + 90 Days +
Quarter-End Loan Data Total Charge- Charge- Non Non
September 30, 2012 Loans Offs Offs Accrual Accrual
(In 000's) Dollars Dollars Percentage Dollars Percentage
-------- ------- ---------- --------- ----------
Real Estate Loans
Construction $ 16,835 $ -- 0.00% $ -- 0.0%
Permanent, Secured
by:
1-4 Dwelling Units:
Revolving, Open-
End Loans
(HELOC) 20,641 -- 0.00% 127 0.6%
All Other
Secured by
First Liens 383,954 285 0.07% 4,140 1.1%
Secured by
Junior Liens 6,892 -- 0.00% 181 2.6%
Multifamily (5+
Dwelling Units) 21,248 -- 0.00% -- 0.0%
Nonresidential
Property (Except
Land) 99,347 26 0.03% 810 0.8%
Land 32,652 (4) 0.01% 4,530 13.9%
-------- ------- ---------- --------- ----------
Consumer 19,340 -- 0.00% 186 1.0%
-------- ------- ---------- --------- ----------
Commercial 13,312 (4) (0.03%) 4,344 32.6%
-------- ------- ---------- --------- ----------
Subtotal - Real Estate
Loans $581,569 $ 307 0.05% $ 9,788 1.7%
-------- ------- ---------- --------- ----------
Non-Real Estate Loans:
Commercial Loans $ 34,032 $ -- 0.00% $ 2 0.0%
Consumer Loans:
Loans on Deposits 3,636 -- 0.00% 89 2.4%
Auto Loans 2,112 -- 0.00% 21 1.0%
Mobile Home Loans 37,030 30 0.08% 425 1.1%
Other 16,023 15 0.09% 47 0.3%
-------- ------- ---------- ---------
Subtotal - Non Real
Estate Loans $ 92,833 $ 45 0.05% $ 584 0.6%
-------- ------- ---------- --------- ----------
Gross Loans $674,402 $ 352 0.05% $ 10,372 1.5%
======== ======= ---------- ========= ----------
Non-accruals $ 10,021
90 + Days Past Due 351
OREO & Foreclosed 490
--------
Nonperforming Assets
(Net) $ 10,862
========
Performing TDRs --
Loans:
Linked
Quarter
Comparison
Average Loan
Balances &
Yields (In 06/30/2013 06/30/2013 03/31/2013 03/31/2013 Change Change
000's) Balance Yield Balance Yield Balance Yield
---------- ---------- ---------- ---------- ------- -------
Real Estate
Loans
1-4 Family $ 405,580 4.89% $ 393,736 4.77% $11,844 0.12%
Commercial 136,246 5.02% 135,064 4.95% 1,182 0.07%
---------- ---------- -------
541,826 4.92% 528,800 4.81% 13,026 0.11%
Non-Real
Estate
Loans
Commercial $ 30,088 5.15% $ 31,782 5.05% $(1,694) 0.10%
Consumer 83,144 9.26% 80,610 8.95% 2,534 0.31%
---------- ---------- -------
113,232 8.17% 112,392 7.85% 840 0.32%
Total All
Loans $ 655,058 5.48% $ 641,192 5.34% $13,866 0.14%
========== ========== =======
Prior Year
Comparison
Average Loan
Balances &
Yields(In 06/30/2013 06/30/2013 06/30/2012 06/30/2012 Change Change
000's) Balance Yield Balance Yield Balance Yield
---------- ---------- ---------- ---------- ------- -------
Real Estate
Loans
1-4 Family $ 405,580 4.89% $ 407,115 5.03% $(1,535) -0.14%
Commercial 136,246 5.02% 136,402 5.57% (156) -0.55%
---------- ---------- -------
541,826 4.92% 543,517 5.18% (1,691) -0.26%
Non-Real
Estate
Loans
Commercial $ 30,088 5.15% $ 28,206 5.46% $ 1,882 -0.31%
Consumer 83,144 9.26% 76,917 9.10% 6,227 0.16%
---------- ---------- -------
113,232 8.17% 105,123 8.13% 8,109 0.04%
Total All
Loans $ 655,058 5.48% $ 648,640 5.63% $ 6,418 -0.15%
========== ========== =======
Loans:
Linked
Quarter
Comparison
Average Loan
Balances &
Yields (In 03/31/2013 03/31/2013 12/31/2012 12/31/2012 Change Change
000's) Balance Yield Balance Yield Balance Yield
---------- ---------- ---------- ---------- -------- ------
Real Estate
Loans
1-4 Family $ 393,736 4.77% $ 416,485 4.84% $(22,749) -0.07%
Commercial 135,064 4.95% 136,251 5.25% (1,187) -0.30%
---------- ---------- --------
528,800 4.81% 552,736 4.94% (23,936) -0.13%
Non-Real
Estate
Loans
Commercial $ 31,782 5.05% $ 35,093 5.41% $ (3,311) -0.36%
Consumer 80,610 8.95% 79,362 9.05% 1,248 -0.10%
---------- ---------- --------
112,392 7.85% 114,455 7.93% (2,063) -0.08%
Total All
Loans $ 641,192 5.34% $ 667,191 5.45% $(25,999) -0.11%
========== ========== ========
Average Loan
Balances &
Yields 03/31/2013 03/31/2013 03/31/2012 03/31/2012 Change Change
(In 000's) Balance Yield Balance Yield Balance Yield
---------- ---------- ---------- ---------- -------- ------
Real Estate
Loans
1-4 Family $ 393,736 4.77% $ 396,005 5.19% $ (2,269) -0.42%
Commercial 135,064 4.95% 137,203 5.54% (2,139) -0.59%
---------- ---------- --------
528,800 4.81% 533,208 5.28% (4,408) -0.47%
Non-Real
Estate
Loans
Commercial $ 31,782 5.05% $ 26,721 5.77% $ 5,061 -0.72%
Consumer 80,610 8.95% 76,427 9.16% 4,183 -0.21%
---------- ---------- --------
112,392 7.85% 103,148 8.28% 9,244 -0.43%
Total All
Loans $ 641,192 5.34% $ 636,356 5.76% $ 4,836 -0.42%
========== ========== ========
Loans:
Linked
Quarter
Comparison
Average Loan
Balances &
Yields (In 12/31/2012 12/31/2012 09/30/2012 09/30/12 Change Change
000's) Balance Yield Balance Yield Balance Yield
---------- ---------- ---------- ---------- -------- ------
Real Estate
Loans
1-4 Family $ 416,485 4.84% $ 419,789 4.95% $ (3,304) -0.11%
Commercial 136,251 5.25% 135,547 5.40% 704 -0.15%
---------- ---------- --------
552,736 4.94% 555,336 5.06% $ (2,600) -0.12%
Non-Real
Estate
Loans
Commercial $ 35,093 5.41% $ 31,963 5.64% $ 3,130 -0.23%
Consumer 79,362 9.05% 78,653 9.21% 709 -0.16%
---------- ---------- --------
114,455 7.93% 110,616 8.18% 3,839 -0.25%
Total All
Loans $ 667,191 5.45% $ 665,952 5.58% $ 1,239 -0.13%
========== ========== ========
Prior Year
ComparisonA
verage Loan
Balances &
Yields(In 12/31/2012 12/31/2012 12/31/2011 12/31/2011 Change Change
000's) Balance Yield Balance Yield Balance Yield
---------- ---------- ---------- ---------- -------- ------
Real Estate
Loans
1-4 Family $ 416,485 4.84% $ 384,094 5.21% $ 32,391 -0.37%
Commercial 136,251 5.25% 132,074 5.64% 4,177 -0.39%
---------- ---------- --------
552,736 4.94% 516,168 5.32% 36,568 -0.38%
Non-Real
Estate
Loans
Commercial $ 35,093 5.41% $ 27,258 6.06% $ 7,835 -0.65%
Consumer 79,362 9.05% 77,647 9.33% 1,715 -0.28%
---------- ---------- --------
114,455 7.93% 104,905 8.48% 9,550 -0.55%
Total All
Loans $ 667,191 5.45% $ 621,073 5.85% $ 46,118 -0.40%
========== ========== ========
Loans: Linked
Quarter
Comparison
Average Loan
Balances &
Yields (In 09/30/2012 09/30/2012 06/30/2012 06/30/2012 Change Change
000's) Balance Yield Balance Yield Balance Yield
---------- ---------- ---------- ---------- ------- ------
Real Estate
Loans
1-4 Family $ 419,789 4.95% $ 407,115 5.03% $12,674 -0.08%
Commercial 135,547 5.40% 136,402 5.57% $ (855) -0.17%
---------- ---------- -------
Total Real
Estate Loans 555,336 5.06% 543,517 5.18% 11,819 -0.12%
Non-Real
Estate Loans
Commercial $ 31,963 5.64% $ 28,206 5.46% $ 3,757 0.18%
Consumer 78,653 9.21% 76,917 9.10% 1,736 0.11%
---------- ---------- -------
Total Non-
Real Estate
Loans 110,616 8.18% 105,123 8.13% 5,493 0.05%
Total All
Loans $ 665,952 5.58% $ 648,640 5.63% $17,312 -0.05%
========== ========== =======
Loans: Prior
Year
Comparison
Average
LoanBalances
& Yields (In 09/30/2012 09/30/2012 09/30/2011 09/30/2011 Change Change
000's) Balance Yield Balance Yield Balance Yield
---------- ---------- ---------- ---------- ------- ------
Real Estate
Loans
1-4 Family $ 401,968 5.08% $ 353,573 5.73% $48,395 -0.65%
Commercial 135,300 5.51% 131,192 5.63% 4,108 -0.12%
---------- ---------- -------
537,268 5.19% 484,765 5.70% 52,503 -0.51%
Non-Real
Estate Loans
Commercial $ 28,543 5.79% $ 26,211 5.99% $ 2,332 -0.20%
Consumer 77,413 9.21% 79,378 9.42% (1,965) -0.21%
---------- ---------- -------
105,956 8.29% 105,589 8.57% 367 -0.28%
Total All
Loans $ 643,224 5.70% $ 590,354 6.21% $52,870 -0.51%
========== ========== =======
Interest-bearing Liabilities: Linked Quarter Comparison
06/30/ 03/31/
Average 06/30/ 2013 03/31/ 2013 Change
balances 2013 Avg. 2013 Avg. Change Avg. %Balance
(In 000's) $Balance Yield $Balance Yield $Balance Yield Change
-------- ------ -------- ------ -------- ------ --------
NOW Accounts $147,593 0.17% $138,875 0.18% $ 8,718 -0.01% 6.3%
Non-interest
bearing
Deposits 101,736 0.00% 101,615 0.00% 121 0.00% 0.1%
-------- ------ -------- ------ -------- ------ --------
Checking
Total $249,329 0.10% $240,490 0.10% $ 8,839 0.00% 3.7%
Savings
Accounts $211,168 0.13% $207,972 0.23% $ 3,196 -0.10% 1.5%
Money Market
Accounts 51,260 0.09% 52,370 0.11% (1,110) -0.02% -2.1%
-------- ------ -------- ------ -------- ------ --------
Total Smart
Growth
Deposits $511,757 0.11% $500,832 0.16% $ 10,925 -0.05% 2.2%
Time
Deposits $137,228 1.54% $139,672 1.50% $ (2,444) 0.04% -1.7%
Total
Deposits $648,985 0.41% $640,504 0.45% $ 8,481 -0.04% 1.3%
FHLB
Advances $106,484 3.60% $114,063 3.43% $ (7,579) 0.17% -6.6%
-------- ------ -------- ------ -------- ------ --------
Total
Interest-
bearing
liabilities $653,733 1.00% $652,952 1.04% $ 781 -0.04% 0.1%
======== ======== ========
Non-interest
bearing
Deposits $101,736 0.00% $101,615 0.00% $ 121 0.00% 0.1%
Interest-bearing Liabilities: Prior Year Comparison
Average 06/30/ 06/30/
balances (In 06/30/ 2013 06/30/ 2012 Change
000's) 2013 Avg. 2012 Avg. Change Avg. %Balance
$Balance Yield $Balance Yield $Balance Yield Change
-------- ------ -------- ------ -------- ------ --------
NOW Accounts $147,593 0.17% $123,851 0.20% $ 23,742 -0.03% 19.2%
Non-interest
bearing
Deposits 101,736 0.00% 93,721 0.00% 8,015 0.00% 8.6%
-------- ------ -------- ------ -------- ------ --------
Checking
Total $249,329 0.10% $217,572 0.12% $ 31,757 -0.02% 14.6%
Savings
Accounts $211,168 0.13% $196,611 0.33% $ 14,557 -0.20% 7.4%
Money Market
Accounts 51,260 0.09% 52,489 0.25% $ (1,229) -0.16% -2.3%
-------- ------ -------- ------ -------- ------ --------
Total Smart
Growth
Deposits $511,757 0.11% $466,672 0.22% $ 45,085 -0.11% 9.7%
Time
Deposits $137,228 1.54% $150,537 1.92% $(13,309) -0.38% -8.8%
Total Deposits $648,985 0.41% $617,209 0.64% $ 31,776 -0.23% 5.1%
FHLB
Advances $106,484 3.60% $123,681 3.27% $(17,197) -0.33% -13.9%
-------- ------ -------- ------ -------- ------ --------
Total
Interest-
bearing
liabilities $653,733 1.00% $647,169 1.23% $ 6,564 -0.23% 1.0%
======== ======== ========
Non-interest
bearing
Deposits $101,736 0.00% $ 93,721 0.00% $ 8,015 0.00% 8.6%
Interest-bearing Liabilities: Linked Quarter Comparison
03/31/ 12/31/
Average 03/31/ 2013 12/31/ 2012 Change
balances 2013 Avg. 2012 Avg. Change Avg. %Balance
(In 000's) $Balance Yield $Balance Yield $Balance Yield Change
-------- ------ -------- ------ -------- ------ --------
NOW Accounts $138,875 0.18% $128,492 0.22% $ 10,383 -0.04% 8.1%
Non-interest
bearing
Deposits 101,615 0.00% 96,213 0.00% 5,402 -0.00% 5.6%
-------- ------ -------- ------ -------- ------ --------
Checking
Total $240,490 0.10% $224,705 0.12% $ 15,785 -0.02% 7.0%
Savings
Accounts $207,972 0.23% $203,181 0.33% $ 4,791 -0.10% 2.4%
Money Market
Accounts 52,370 0.11% 54,445 0.15% (2,075) -0.04% -3.8%
-------- ------ -------- ------ -------- ------ --------
Total Smart
Growth
Deposits $500,832 0.16% $482,331 0.21% $ 18,501 -0.05% 3.8%
Time
Deposits $139,672 1.50% $141,358 1.62% $ (1,686) -0.12% -1.2%
Total
Deposits $640,504 0.45% $623,689 0.53% $ 16,815 -0.08% 2.7%
FHLB
Advances $114,063 3.43% $131,845 3.04% $(17,782) 0.39% -13.5%
-------- ------ -------- ------ -------- ------ --------
Total
Interest-
bearing
liabilities $652,952 1.04% $659,321 1.11% $ (6,369) -0.07% -1.0%
======== ======== ========
Non-interest
bearing
Deposits $101,615 0.00% $ 96,213 0.00% $ 5,402 0.00% 5.6%
Interest-bearing Liabilities: Prior Year Comparison
Average 03/31/ 03/31/
balances(In 03/31/ 2013 03/31/ 2012 Change
000's) 2013 Avg. 2012 Avg. Change Avg. %Balance
$Balance Yield $Balance Yield $Balance Yield Change
-------- ------ -------- ------ -------- ------ --------
NOW Accounts $138,875 0.18% $119,544 0.19% $ 19,331 -.0.01% 16.2%
Non-interest
bearing
Deposits 101,615 0.00% 86,358 0.00% 15,257 0.00% 17.7%
-------- ------ -------- ------ -------- ------ --------
Checking
Total $240,490 0.10% $205,902 0.11% $ 34,588 -0.01% 16.8%
Savings
Accounts $207,972 0.23% $190,365 0.32% $ 17,607 -0.09% 9.2%
Money Market
Accounts 52,370 0.11% 53,727 0.25% (1,357) -0.14% -2.5%
-------- ------ -------- ------ -------- ------ --------
Total Smart
Growth
Deposits $500,832 0.16% $449,994 0.22% $ 50,838 -0.06% 11.3%
Time
Deposits $139,672 1.50% $158,784 2.16% $(19,112) -0.66% -12.0%
Total Deposits $640,504 0.45% $608,778 0.72% $ 31,726 -0.27% 5.2%
FHLB
Advances $114,063 3.43% $123,665 3.28% $ (9,602) 0.15% -7.8%
-------- ------ -------- ------ -------- ------ --------
Total
Interest-
bearing
liabilities $652,952 1.04% $646,085 1.31% $ 6,867 -0.27% 1.1%
======== ======== ========
Non-interest
bearing
Deposits $101,615 0.00% $ 86,358 0.00% $ 15,257 0.00% 17.7%
Interest-bearing Liabilities: Linked Quarter Comparison
12/31/ 9/30/
Average 12/31/ 2012 9/30/ 2012 Change
balances 2012 Avg. 2012 Avg. Change Avg. %Balance
(In 000's) $Balance Yield $Balance Yield $Balance Yield Change
-------- ------ -------- ------ -------- ------ --------
NOW Accounts $128,492 0.22% $124,017 0.22% $ 4,475 0.00% 3.6%
Non-interest
bearing
Deposits 96,213 0.00% 91,077 0.00% 5,136 0.00% 5.6%
-------- ------ -------- ------ -------- ------ --------
Checking
Total $224,705 0.12% $215,094 0.12% $ 9,611 0.00% 4.5%
Savings
Accounts $203,181 0.33% $198,079 0.33% $ 5,102 0.00% 2.6%
Money Market
Accounts 54,445 0.15% 54,791 0.18% (346) -0.03% -0.6%
-------- ------ -------- ------ -------- ------ --------
Total Smart
Growth
Deposits $482,331 0.21% $467,964 0.22% $ 14,367 -0.01% 3.1%
Time
Deposits $141,358 1.62% $144,821 1.75% $ (3,463) -0.13% -2.4%
Total
Deposits $623,689 0.53% $612,785 0.58% $ 10,904 -0.05% 1.8%
FHLB
Advances $131,845 3.04% $141,565 2.85% $ (9,720) 0.19% -6.9%
-------- ------ -------- ------ -------- ------ --------
Total
Interest-
bearing
liabilities $659,321 1.11% $663,273 1.14% $ (3,952) -0.03% -0.6%
======== ======== ========
Non-interest
bearing
Deposits $ 96,213 0.00% $ 91,077 0.00% $ 5,136 0.00% 5.6%
Interest-bearing Liabilities: Prior Year Comparison
Average 12/31/ 12/31/
balances (In 12/31/ 2012 12/31/ 2011 Change
000's) 2012 Avg. 2011 Avg. Change Avg. %Balance
$Balance Yield $Balance Yield $Balance Yield Change
-------- ------ -------- ------ -------- ------ --------
NOW Accounts $128,492 0.22% $111,078 0.18% $ 17,414 0.04% 15.7%
Non-interest
bearing
Deposits 96,213 0.00% 81,272 0.00% 14,941 0.00% 18.4%
-------- ------ -------- ------ -------- ------ --------
Checking
Total $224,705 0.12% $192,350 0.11% $ 32,355 0.01% 16.8%
Savings
Accounts $203,181 0.33% $186,897 0.31% $ 16,284 0.02% 8.7%
Money Market
Accounts 54,445 0.15% 54,473 0.23% (28) -0.08% -0.1%
-------- ------ -------- ------ -------- ------ --------
Total Smart
Growth
Deposits $482,331 0.21% $433,720 0.21% $ 48,611 0.00% 11.2%
Time
Deposits $141,358 1.62% $160,656 2.24% $(19,298) -0.62% -12.0%
Total Deposits $623,689 0.53% $594,376 0.76% $ 29,313 -0.23% 4.9%
FHLB
Advances $131,845 3.04% $120,740 3.15% $ 11,105 -0.11 9.2%
-------- ------ -------- ------ -------- ------ --------
Total
Interest-
bearing
liabilities $659,321 1.11% $633,844 1.31% $ 25,477 -0.20% 4.0%
======== ======== ========
Non-interest
bearing
Deposits $ 96,213 0.00% $ 81,272 0.00% $ 14,941 0.00% 18.4%
Interest-bearing Liabilities: Linked Quarter Comparison
09/30/ 06/30/
Average 09/30/ 2012 06/30/ 2012 Change
balances 2012 Avg. 2012 Avg. Change Avg. %Balance
(In 000's) $Balance Yield $Balance Yield $Balance Yield Change
-------- ------ -------- ------ -------- ------ --------
NOW Accounts $124,017 0.22% $123,851 0.20% $ 166 0.02% 0.1%
Non-interest
bearing
Deposits 91,077 0.00% 93,721 0.00% (2,644) 0.00% -2.8%
-------- ------ -------- ------ -------- ------ --------
Checking
Total $215,094 0.12% $217,572 0.12% $ (2,478) 0.00% -1.1%
Savings
Accounts $198,079 0.33% $196,611 0.33% $ 1,468 0.00% 0.7%
Money Market
Accounts 54,791 0.18% 52,489 0.25% 2,302 -0.07% 4.4%
-------- ------ -------- ------ -------- ------ --------
Total Smart
Growth
Deposits $467,964 0.22% $466,672 0.22% $ 1,292 0.00% 0.3%
Time
Deposits $144,821 1.75% $150,537 1.92% $ (5,716) -0.17% -3.8%
Total
Deposits $612,785 0.58% $617,209 0.64% $ (4,424) -0.06% -0.7%
FHLB
Advances $141,565 2.85% $123,681 3.27% $ 17,884 -0.42% 14.5%
-------- ------ -------- ------ -------- ------ --------
Total
Interest-
bearing
liabilities $663,273 1.14% $647,169 1.23% $ 16,104 -0.09% 2.5%
======== ======== ========
Non-interest
bearing
Deposits $ 91,077 0.00% $ 93,721 0.00% $ (2,644) 0.00% -2.8%
Interest-bearing Liabilities: Average Quarter Balances
Average 09/30/ 09/30/
balances(In 09/30/ 2012 09/30/ 2011 Change
000's) 2012 Avg. 2011 Avg. Change Avg. %Balance
$Balance Yield $Balance Yield $Balance Yield Change
-------- ------ -------- ------ -------- ------ --------
NOW Accounts $124,017 0.22% $108,579 0.14% $ 15,438 0.08% 14.2%
Non-interest
bearing
Deposits 91,077 0.00% 87,454 0.00% 3,623 0.00% 4.1%
-------- ------ -------- ------ -------- ------ --------
Checking
Total $215,094 0.12% $196,033 0.08% $ 19,061 0.04% 9.7%
Savings
Accounts $198,079 0.33% $191,840 0.33% $ 6,239 0.00% 3.3%
Money Market
Accounts 54,791 0.18% 54,787 0.30% 4 -0.12% 0.0%
-------- ------ -------- ------ -------- ------ --------
Total Smart
Growth
Deposits $467,964 0.22% $442,660 0.22% $ 25,304 0.00.% 5.7%
Time
Deposits $144,821 1.75% $165,284 2.25% $(20,463) -0.50% -12.4%
Total Deposits $612,785 0.58% $607,944 0.77% $ 4,841 -0.19% 0.8%
FHLB
Advances $141,565 2.85% $ 92,514 3.93% $ 49,051 -1.08% 53.0%
-------- ------ -------- ------ -------- ------ --------
Total
Interest-
bearing
liabilities $663,273 1.14% $613,004 1.36% $ 50,269 -0.22% 8.2%
======== ======== ========
Non-interest
bearing
Deposits $ 91,077 0.00% $ 87,454 0.00% $ 3,623 0.00% 4.1%
Quarter-End Loan
Quality Details
June 30, 2013 Total % Special % %
(In Thousands) Loans Classified Total Mention Total Pass Total
-------- ---------- ----- ------- ----- -------- ------
Commercial Loans
Commercial Land $ 10,493 $ 289 2.8% $ -- 0.0% $ 10,204 97.2%
Commercial
Construction 8,931 -- 0.0% 362 4.1% 8,569 95.9%
Commercial Real
Estate 126,571 5,291 4.2% 1,809 1.4% 119,471 94.4%
Commercial Non
Real Estate 30,109 1,319 4.4% 117 0.4% 28,673 95.2%
Total
Commercial $176,104 $ 6,899 3.9% $ 2,288 1.3% $166,917 94.8%
Residential Loans
Residential
Construction $ 5,877 $ -- 0.0% $ -- 0.0% $ 5,877 100.0%
Residential 403,309 4,432 1.1% 319 0.1% 398,558 98.8%
Total
Residential $409,186 $ 4,432 1.1% $ 319 0.1% $404,435 98.8%
Consumer Loans
Mobile Homes $ 40,692 $ 262 0.6% $ -- 0.0% $ 40,430 99.4%
Consumer Other 43,751 347 0.8% -- 0.0% 43,404 99.2%
Total
Consumer $ 84,443 $ 609 0.7% $ -- 0.0% $ 83,834 99.3%
Total All Loans $669,733 $ 11,940 1.8% $ 2,607 0.4% $655,186 97.8%
Quarter-End Loan
Quality Details
March 31, 2013 Total % Special % %
(In Thousands) Loans Classified Total Mention Total Pass Total
-------- ---------- ----- ------- ----- -------- -----
Commercial Loans
Commercial Land $ 9,875 $ 724 7.3% $ -- 0.0% $ 9,151 92.7%
Commercial
Construction 7,600 -- 0.0% 360 4.7% 7,240 95.3%
Commercial Real
Estate 123,474 4,184 3.4% 1,825 1.5% 117,465 95.1%
Commercial Non
Real Estate 29,942 146 0.5% 223 0.7% 29,573 98.8%
-------- ---------- ----- ------- ----- -------- -----
Total
Commercial $170,891 $ 5,054 3.0% $ 2,408 1.4% $163,429 95.6%
Residential Loans
Residential
Construction $ 7,302 $ -- 0.0% $ -- 0.0% $ 7,302 100.0%
Residential 386,076 4,362 1.1% 320 0.1% 381,394 98.8%
-------- ---------- ----- ------- ----- -------- -----
Total
Residential $393,378 $ 4,362 1.1% $ 320 0.1% $388,696 98.8%
Consumer Loans
Mobile Homes $ 38,626 $ 225 0.6% $ -- 0.0% $ 38,401 99.4%
Consumer Other 42,325 405 1.0% 17 0.0% 41,903 99.0%
-------- ---------- ----- ------- ----- -------- -----
Total Consumer $ 80,951 $ 630 0.8% $ 17 0.0% $ 80,304 99.2%
Total All Loans $645,220 $ 10,046 1.6% $ 2,745 0.4% $632,429 98.0%
Quarter-End Loan
Quality Details
December 31, 2012 Total % Special % %
(In Thousands) Loans Classified Total Mention Total Pass Total
-------- ---------- ----- ------- ----- -------- -----
Commercial Loans
Commercial Land $ 14,067 $ 4,537 32.3% $ -- 0.0% $ 9,530 67.7%
Commercial
Construction 7,486 -- 0.0% 367 4.9% 7,119 95.1%
Commercial Real
Estate 123,418 3,389 2.7% 863 0.7% 119,166 96.6%
Commercial Non
Real Estate 33,364 157 0.5% 227 0.7% 32,980 98.8%
-------- ---------- ----- ------- ----- -------- -----
Total
Commercial $178,335 $ 8,083 4.5% $ 1,457 0.8% $168,795 94.7%
Residential Loans
Residential
Construction $ 9,622 $ -- 0.0% $ -- 0.0% $ 9,622 100.0%
Residential 376,546 4,252 1.1% 325 0.1% 371,969 98.8%
-------- ---------- ----- ------- ----- -------- -----
Total
Residential $386,168 $ 4,252 1.1% $ 325 0.1% $381,591 98.8%
Consumer Loans
Mobile Homes $ 38,055 $ 576 1.5% $ -- 0.0% $ 37,479 98.5%
Consumer Other 41,840 291 0.7% 195 0.5% $ 41,354 98.8%
-------- ---------- ----- ------- ----- -------- -----
Total Consumer $ 79,895 $ 867 1.1% $ 195 0.2% $ 78,833 98.7%
Total All Loans $644,398 $ 13,202 2.0% $ 1,977 0.3% $629,219 97.6%
======== ========== ===== ======= ===== ======== =====
Quarter-End Loan
Quality Details
September 30, 2012 Total % Special % %
(In Thousands) Loans Classified Total Mention Total Pass Total
-------- ---------- ----- ------- ----- -------- -----
Commercial Loans
Commercial Land $ 13,312 $ 4,658 35.0% $ 17 0.1% $ 8,637 64.9%
Commercial
Construction 7,357 -- 0.0% 370 5.0% 6,987 95.0%
Commercial Real
Estate 120,558 3,524 2.9% 872 0.7% 116,162 96.4%
Commercial Non
Real Estate 34,032 154 0.5% 50 0.1% 33,828 99.4%
-------- ---------- ----- ------- ----- -------- -----
Total
Commercial $175,259 $ 8,336 4.8% $ 1,309 0.7% $165,614 94.5%
Residential Loans
Residential
Construction $ 9,478 $ -- 0.0% $ -- 0.0% $ 9,478 100.0%
Residential 413,500 4,561 1.1% 328 0.1% 408,611 98.8%
-------- ---------- ----- ------- ----- -------- -----
Total
Residential $422,978 $ 4,561 1.1% $ 328 0.1% $418,089 98.8%
Consumer Loans
Mobile Homes $ 37,030 $ 424 1.1% $ -- 0.0% $ 36,606 98.9%
Consumer Other 41,110 254 0.6% 176 0.4% $ 40,680 99.0%
-------- ---------- ----- ------- ----- -------- -----
Total Consumer $ 78,140 $ 678 0.9% $ 176 0.2% $ 77,286 98.9%
Total All Loans $676,377 $ 13,575 2.0% $ 1,813 0.3% $660,989 97.7%
======== ========== ===== ======= ===== ======== =====
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