ADD to BW1067, SECURITY-CAPITAL-CORP earnings release.--(BUSINESS WIRE)--April 25, 1996-- ADD to BW1067 (SECURITY-CAPITAL-CORP) after last graph graph, figure that shows relationships between quantities. The graph of a function y=f (x) is the set of points with coordinates [x, f (x)] in the xy-plane, when x and y are numbers. xxx and an additional 10 lending offices throughout Wisconsin Wisconsin, state, United States Wisconsin (wĭskŏn`sən, –sĭn), upper midwestern state of the United States. It is bounded by Lake Superior and the Upper Peninsula of Michigan, from which it is divided by the Menominee . -0- Financial Highlights (Unaudited, 000's omitted except for share information)
SECURITY CAPITAL CORPORATION
As of
__________________________________
March 31, June 30, March 31,
1996 1995 1995
Selected Financial Data:
Total assets $3,344,642 $3,116,566 $2,996,664
Cash and cash equivalents 40,677 35,725 31,626
Securities available for sale 678,681 365,595 310,513
Securities held to maturity 0 237,019 259,208
Gross loans and leases 2,505,847 2,425,509 2,357,508
Deposits 2,195,863 2,089,724 1,996,125
Borrowings 484,347 364,780 359,411
Stockholders' equity 564,530 550,836 548,404
Voting shares outstanding 9,535,665 9,764,265 9,937,700
Book value per share 59.83 57.02 55.76
Fully diluted book value per
share 55.94 53.52 52.44
Selected Asset Quality Data:
Total non-performing loans $ 3,858 $ 3,395 $ 2,901
Foreclosed properties 164 368 323
__________ __________ __________
Total non-performing assets 4,022 3,763 3,224
Allowance for loan and lease losses 38,810 33,724 32,568
Nine Months Ended Quarter Ended
March 31, March 31,
__________________ _______________
1996 1995 1996 1995
Selected Operating Data:
Total interest and
dividend income $180,113 $144,685 $ 61,297 $ 51,370
Total interest expense 94,934 67,218 32,266 25,943
________ ________ ________ ________
Net interest income 85,179 77,467 29,032 25,427
Provision for loan and
lease losses 4,619 4,716 1,612 1,075
________ ________ ________ ________
Net interest income after
provision for losses 80,560 72,751 27,419 24,352
Non-interest income:
Loan service fees and charges 5,707 5,505 1,989 1,747
Gain (loss) on sale of loans
held for sale 1,230 336 331 337
Other non-interest income 8,593 8,892 3,164 2,757
________ ________ ________ ________
Total non-interest income 15,530 14,733 5,484 4,841
Total non-interest expense 59,744 57,567 21,588 19,328
________ ________ ________ ________
Income before income
tax expense 36,346 29,917 11,316 9,865
Income tax expense 14,031 11,041 4,356 3,833
________ ________ ________ ________
Net income $ 22,315 $ 18,876 $ 6,960 $ 6,032
________ ________ ________ ________
________ ________ ________ ________
Earnings per share $ 2.33 $ 1.88 $ 0.73 $ 0.61
________ ________ ________ ________
________ ________ ________ ________
Financial Highlights
(Unaudited)
SECURITY CAPITAL CORPORATION
Nine Months Ended Quarter Ended
March 31, March 31,
__________________ ________________
1996 1995 1996 1995
Performance Ratios(1)
Return on average assets 0.92% 0.90% 0.85% 0.83%
Return on average equity 5.27 4.56 4.90 4.37
Stockholders' equity to
total assets 16.88 18.30 16.88 18.30
Average equity to average
assets 17.41 19.66 17.26 18.92
Yield on interest-earning
assets 7.72 7.16 7.74 7.32
Cost of interest-bearing
liabilities 5.01 4.21 4.98 4.60
Interest spread during
period(2) 2.71 2.95 2.76 2.72
Net interest margin(2) 3.69 3.88 3.70 3.68
Non-interest expenses to
average assets 2.46 2.74 2.62 2.65
Non-interest expenses to
average assets and
average loans serviced
for others 1.68 1.76 1.80 1.74
Non-interest income to
average assets 0.64 0.70 0.67 0.66
Average interest-earning
assets to average
interest-bearing
liabilities 124.05 128.44 122.86 126.19
As Of
____________________________
March 31, June 30, March 31,
1996 1995 1995
Asset Quality Ratios(1)(3):
Non-performing loans to gross loans 0.15% 0.15% 0.12%
Non-performing assets to total assets 0.12 0.12 0.11
Allowance for loan and lease losses to
gross loans and leases 1.55 1.39 1.39
Allowance for loan and lease losses to
non-performing loans 1005.96 993.63 1122.81
Allowance for loan and lease losses
to non-performing assets 964.94 896.28 1010.22
Net charge-offs/(recoveries) to average
loans and leases (0.03) 0.01 0.02
(1) Ratios annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. where applicable. (2) INTEREST SPREAD represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing Adj. 1. interest-bearing - of financial obligations on which interest is paid liabilities. NET INTEREST MARGIN represents net interest income as a percentage of average interest-earning assets. (3) NON-PERFORMING LOANS A non-performing loan is a loan that is in default or close to being in default. Many loans become non-performing after being in default for 3 months, but this can depend on the contract terms. consist of non-accrual loans and troubled debt restructuring troubled debt restructuring See debt restructuring. . NON-PERFORMING ASSETS consist of non-performing loans and foreclosed properties which consist of real estate acquired by foreclosure foreclosure Legal proceeding by which a borrower's rights to a mortgaged property may be extinguished if the borrower fails to live up to the obligations agreed to in the loan contract. or deed deed, in law, written document that is signed and delivered by which one person conveys land or other realty (see property) to another. A deed may assure the extent of the conveying party's ownership or, if the party is uncertain of the precise extent, he issues a in lieu in lieu prep. instead. "In lieu taxes" are use taxes paid instead of sales tax. A "deed in lieu of foreclosure" occurs when a debtor just deeds the property securing the loan to the lender rather than go through the foreclosure process. thereof. CONTACT: Security Capital Corp., Milwaukee Milwaukee (mĭlwŏk`ē), city (1990 pop. 628,088), seat of Milwaukee co., SE Wis., at the point where the Milwaukee, Menominee, and Kinnickinnic rivers enter Lake Michigan; inc. 1846. Lowell Lowell, city (1990 pop. 103,439), a seat of Middlesex co., NE Mass., at the confluence of the Merrimack and Concord rivers; settled 1653, set off from Chelmsford 1826, inc. as a city 1836. F. Argue, 414/277-6432 Roger D. Kamin
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