BWC Announces Stock Split, NASDAQ Listing & Earnings.WALNUT CREEK Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif.--(BUSINESS WIRE)--July 14, 1998--James L. Ryan, Chairman of the Board and Chief Executive Officer of BWC BWC Biological Weapons Convention BWC Bureau of Workers Compensation BWC Best Workplaces for Commuters (EPA/DOT program promoting commuting efficiency) BWC Beauty Without Cruelty (skin care product company) Financial Corp. announced a resolution of the Board of Directors authorizing a two for one stock split for its shareholders. At the same time, Ryan announced that, effective July 21, 1998, the Corporation's stock will be traded on NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on . "Trading the Corporation's stock on NASDAQ is expected to broaden our market base and provide more liquidity to the stock," Ryan commented. "The two for one stock split will make the stock's trading price Trading price The price at which a security is currently selling. more effective for its distribution on NASDAQ." Ryan also reported the Corporation's earnings for the six months ended June 30, 1998. Net income was $1,940,000 or $0.67 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 , compared to $1,258,000 or $0.45 diluted earnings per share for the same period in 1997. Earnings for first half 1998 represent a 1.67% return on average assets (ROA ROA See: Return on assets ROA See: Right of accumulation ROA See return on assets (ROA). ) and 18.88% return on average equity (ROE), compared to a 1.36% ROA and 14.82% ROE in 1997. For second quarter 1998 net income was $974,000 or $0.33 diluted earnings per share, compared to $667,000 or $0.24 diluted earnings per share for the same period in 1997. The return on average assets (ROA) for second quarter 1998 is 1.62.% and return on equity (ROE) is 18.45%, both ratios higher than second quarter 1997 ratios of 1.37% and 15.44%. Total assets of the Corporation at June 30, 1998 were $252,542,000, representing a 24% increase over first half 1997 assets of $203,559,000. BWC Financial Corp., the holding company for Bank of Walnut Creek and BWC Mortgage Services, has an uninterrupted record of profits. The Bank, with headquarters and main office at 1400 Civic Drive, Walnut Creek, was founded in 1980. Additional branch offices are in Orinda, San Ramon San Ramon (Spanish for "Saint Raymond") may refer to one of the following places:
Mortgage consultants are located in each bank office.
CONTACT: Bank of Walnut Creek
Leland E. Wines, 925/932-5353 Ext. 201
http://www.bowc.com
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