Alliance Bancshares California Announces $1.4 Million in Earnings.Business Editors CULVER CITY Culver City, city (1990 pop. 38,793), Los Angeles co., S Calif., a residential suburb of Los Angeles; inc. 1917. It is a center of the U.S. motion-picture industry, whose roots in the city date to c.1915. Its chief manufactures are rubber products and computers. , Calif.--(BUSINESS WIRE)--Jan. 22, 2002 Alliance Bancshares California, the bank holding company of Alliance Bank (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABNS ABNS American Board of Neurological Surgery ABNS American Board of Nursing Specialties ABNS American Baptist News Service ), announced after-tax earnings of $1,410,060 for the year ending December 31, 2001. Diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of were $0.26 on 4,505,079 shares outstanding in 2001 compared to a robust $0.39 on the 4,504,079 shares outstanding one year earlier. Total assets rose to $140,322,506, up about $16,000,000 from $124,530,224 on December 31, 2000. Chairman and President Curtis S. Reis commented, "With a year of eleven interest rate reductions, we knew our earnings wouldn't compare to the $2MM in 2000. However, Alliance Bank did well in adjusting to the continued rate decreases. We just completed the second-best year in our 22 years in business banking. Our loan quality remains strong and we look forward to 2002 and beyond. "Our strategy in the next five years is to become a `super' community bank," Reis continued. "The Newport Beach Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. office will relocate in 2002 to a larger, prime location in Irvine due to expected growth. The SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government Division has developed into a leader in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County (currently ranked 15th in value of loans per the Los Angeles Business Journal). We have been fortunate in attracting some key, new employees to make our future goals attainable. While we anticipate little economic growth in 2002, the Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, marketplace is still one of the largest and most vibrant business areas in the world. The bank will remain cautious, yet progressive." The following is a table summarizing selected financial comparisons for the past two years:
2001 2000
(ABNS, (Alliance
unaudited) Bank,
audited)
Book Value per Common Share $ 2.32 $ 2.00
Average Assets per Employee (millions) $ 3.31 $ 3.49
Average Net Loans to Average Assets 75.97% 78.03%
Average Primary Capital to Average Assets 10.66% 9.73%
Net Yield on Average Interest-Earning Assets 5.80% 6.70%
Net Earnings to Average Equity (ROE) 14.60% 26.19%
Net Earnings to Average Assets (ROA) 1.05% 1.64%
Total Assets (in thousands) $140,320 $124,530
Subordinated Debentures and Equity
(in thousands) $ 13,951 $ 11,540
Net Earnings per Share / Basic $ 0.31 $ 0.47
Net Earnings per Share / Diluted $ 0.26 $ 0.39
Net Earnings (in thousands) $ 1,410 $ 2,063
With over $140 million in assets, Alliance Bank is one of the leading independent, community business banks headquartered in Southern California offering a wide range of financial solutions tailored to corporate customers, executives and professionals. Serving small to mid-sized businesses, Alliance Bank's strategy focuses on delivering progressive financial solutions from deposit services to commercial and small business lending, accounts receivable financing Accounts Receivable Financing A type of asset-financing arrangement in which a company uses its receivables - which is money owed by customers - as collateral in a financing agreement. The company receives an amount that is equal to a reduced value of the receivables pledged. as well as construction and real estate financing. Founded in 1980, Alliance Bank is the principal subsidiary of Alliance Bancshares California (OTCBB:ABNS), with regional banking offices in Culver City and Newport Beach. Alliance can be found on the Web at www.allbank.com. To receive a copy of our financial reports or to be put on the bank's mailing list An automated e-mail system on the Internet, which is maintained by subject matter. There are thousands of such lists that reach millions of individuals and businesses. New users generally subscribe by sending an e-mail with the word "subscribe" in it and subsequently receive all new , please contact Monique Johnson, director of marketing and communications, at 310/258-9349 or by email: mjohnson@allbank.com. Discover What BETTER Means. |
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