Printer Friendly

BANDO McGLOCKLIN REPORTS SECOND-QUARTER RESULTS

 BROOKFIELD, Wis., Jan. 26 /PRNewswire/ -- Bando McGlocklin Capital Corporation (NASDAQ-NMS: BMCC) today announced continued growth in profitability and loan demand during its second quarter ended Dec. 31, 1992.
 Total loans to businesses grew to $89,992,751, a 7.9-percent increase from the same period a year earlier of $83,403,897.
 Net interest income rose 19.5 percent to $1,037,481, from the same period a year earlier of $868,117. Net operating income rebounded from a first-quarter dip to reach $845,685, a 40.8-percent increase over the $600,709 reported during the same quarter of fiscal 1992.
 Net operating income per share rose 4.5 percent to 23 cents per share based on 3,678,061 weighted average shares outstanding, compared to 22 cents per share based on 2,727,405 weighted average shares outstanding during the same period a year earlier. The firm issued 1,081,325 shares of common stock on Oct. 14, 1992.
 On Dec. 9, 1992, the board of directors declared a regular quarterly cash dividend equal to 22 cents per share payable on Jan. 31, 1993, to shareholders of record on Dec. 31, 1992.
 Condensed Comparative Financial Data
 As of Dec. 31, 1992 1991
 Total loans $89,992,751 $83,403,897
 Total assets 95,762,834 91,348,620
 Three months ended Dec. 31,
 Net interest income 1,037,481 868,117
 Salaries and employee benefits 163,627 140,275
 Other operating expenses 134,671 151,841
 Total operating expenses 298,298 292,116
 Net operating income 845,685 600,709
 Net operating income per share .23 .22
 Weighted shares outstanding 3,678,061 2,727,405
 Since the firm's IPO on May 13, 1987, through Dec. 31, 1992, the total average annual compounded rate of return on investment was 39.63 percent. For additional perspective regarding historical return, the total average annual compounded rate of return was 23.23 percent for the period from Sept. 30, 1980, to Dec. 31, 1992.
 The calculation of total ROI is based upon cash dividends, the reinvestment of cash dividends through the firm's Dividend Reinvestment Plan, and capital appreciation.
 In announcing results for the second quarter, Chairman and Chief Executive Officer George R. Schonath said: "We are pleased with our performance for the quarter. Preparations for the development of new funding sources are proceeding as planned. Loan demand remains strong, and we are optimistic about loan activity during the next six months. At this time, we expect earnings to rise to $.95 per share for the fiscal year ending June 30, 1993."
 Founded in 1980, Bando McGlocklin Capital Corporation provides long- term secured loans to finance the growth, expansion and modernization of small businesses in Wisconsin and the Midwest, and is a Federal Licensee under the Small Business Investment Act of 1958.
 -0- 1/26/93
 /CONTACT: Cynthia Garland of Garland Public Relations, 414-238-1788, for Bando McGlocklin Capital/
 (BMCC)


CO: Bando McGlocklin Capital Corporation ST: Wisconsin IN: FIN SU: ERN

ML -- DE009 -- 8961 01/26/93 09:43 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 26, 1993
Words:506
Previous Article:PATRICK PETROLEUM ANNOUNCES MERGER AGREEMENT WITH ANPC
Next Article:LOGICON REPORTS THIRD QUARTER, NINE-MONTH RESULTS
Topics:


Related Articles
BANDO McGLOCKLIN REPORTS SECOND-QUARTER RESULTS
BANDO McGLOCKLIN REPORTS FISCAL 1992 RESULTS; DECLARES REGULAR 22 CENT PLUS SPECIAL 4 CENT DIVIDENDS
BANDO McGLOCKLIN REPORTS FIRST-QUARTER RESULTS
BANDO McGLOCKLIN REPORTS RECORD PROFITS FOR THIRD QUARTER
BANDO McGLOCKLIN REPORTS RECORD PROFITS FOR THIRD QUARTER
BANDO McGLOCKLIN REPORTS FIRST-QUARTER RESULTS; ANNOUNCES UNDERWRITING AGREEMENT
BANDO MCGLOCKLIN ANNOUNCES $40 MILLION LOAN AGREEMENT WITH THE STATE OF WISCONSIN'S INVESTMENT BOARD
NICHOLAS NAMED DIRECTOR OF BANDO McGLOCKLIN CAPITAL CORP.
BANDO McGLOCKLIN REPORTS SECOND QUARTER RESULTS
BANDO McGLOCKLIN REPORTS LOAN GROWTH FOR QUARTER

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters