California Bancshares Inc. announces a 53% increase in earnings for the third quarter of 1995.SAN RAMON San Ramon (Spanish for "Saint Raymond") may refer to one of the following places:
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 :CABI CABI Commonwealth Agricultural Bureaux International (UK) CABI Centre for Agriculture and Biosciences International (UK) CABI Colorado Association of Business Intermediaries CABI California Birth Index ) Wednesday announced financial results as of Sept. 30, 1995. California Bancshares Inc. is the holding company for Alameda Alameda (ăləmē`də, –mā`də), city (1990 pop. 76,459), Alameda co., W central Calif., on an island just off the eastern shore of San Francisco Bay; settled 1850, inc. as a city 1884. First National Bank, The Bank of Milpitas, N.A., The Bank of San Ramon Valley The San Ramon Valley is a region in Contra Costa County and Alameda County, California, east of Oakland. The cities of Danville, San Ramon, Alamo, and Walnut Creek are located in the valley. Links
abbr. cumulative book index CBI Confederation of British Industry CBI n abbr (= Confederation of British Industry) → C.E.O.E. Mortgage. Net income for the three months ended Sept. 30, 1995 increased 53% to $4.7 million, (47 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. ) compared to $3.1 million, (33 cents per share) for the like period in 1994. For the nine months ended Sept. 30, 1995 net income increased 56% to $13 million ($1.29 per share) from $8.3 million (89 cents per share) for the like period in 1994. The increase in third quarter earnings is primarily attributable to recently completed acquisitions (Centennial Bank, Bank of Livermore and Old Stone Bank of California The Bank of California was founded in San Francisco, California on July 5, 1864 by William Chapman Ralston. It was the first commercial bank in the Western United States, the second-richest bank in the nation, and considered instrumental in developing the American Old West. ) and lower FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). insurance premiums. Consolidated assets at Sept. 30, 1995 were $1.53 billion, total loans were $1.03 billion and total deposits were $1.39 billion. -0-
California Bancshares Inc.
Financial Statistics
Three Months Ended Nine Months Ended
Sept. 30, Sept. 30,
1995 1994 1995 1994
Earnings (in thousands, except per share data) Net interest income on a tax - equivalent basis $19,104 $14,906 $54,159 $42,154 Less: Tax - equivalent adjustment (302) (353) (942) (1,082) Provision for loan losses (445) (425) (1,045) (1,480) Net interest income after provision for loan losses 18,357 14,128 52,172 39,592 Noninterest income 2,611 1,724 6,871 5,438 Noninterest expense (13,020) (10,903) (37,908) (32,093) Income before provision for income taxes 7,948 4,949 21,135 12,937 Income taxes (3,206) (1,852) (8,183) (4,644) Net income $ 4,742 $ 3,097 $12,952 $ 8,293 Net income per share 47 cents 33 cents $ 1.29 89 cents Weighted average shares outstanding (000s) 10,032 9,362 10,003 9,364 Period end data - Balance sheet (in millions): Total assets $ 1,525 $ 1,082 Loans 1,028 642 Deposits 1,388 965 Shareholders' equity 127 111 Shares outstanding (000s) 10,034 9,376 Return on (annualized): Average assets 1.23% 1.15% 1.20% 1.04% Average shareholders' equity 14.93% 11.23% 14.15% 10.20% Book value per share $12.69 $11.82 CONTACT: California Bancshares Inc., San Ramon Joseph P. Colmery, 510/743-4201 |
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