Central Illinois Bancorp Announces Fourth Quarter Earnings.PEWAUKEE, Wis.--(BUSINESS WIRE)--March 12, 1999--Central Illinois Bancorp, Inc. today announced that net income for the fourth quarter ended December 31, 1998, was $2.8 million, an increase of nearly 65% from the $1.7 million net income recorded for the same period in 1997. Net income for the twelve months ended December 31, 1998, was $9.5 million, compared to $5.3 million for the same period in 1997. 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 $93.78 for the twelve months ended December 31, 1998, as compared to $71.08 for the same period in 1997. The increase in net income, for both the fourth quarter and the twelve months ended December 31, 1998, is primarily due to the internal growth of average earning assets Earning Assets Any income-earning asset owned by a company. Notes: These assets are generally interest-bearing accounts, bonds, and securities available for sale. See also: Asset, Asset Valuation, Earnings, Net Interest Margin of the Company and the corresponding net interest income earned thereon. As of December 31, 1998, total assets of the Company were $1.2 billion, total deposits were $1.0 billion and total stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. was $144 million. At December 31, 1997, total assets, deposits and stockholders' equity were $807 million, $683 million and $101 million, respectively. The book value per share was $1,339.75 at December 31, 1998, compared to $1,110.18 at December 31, 1997. Central Illinois Central Illinois is a region of the U.S. state of Illinois that consists of the entire central section of the state, divided in thirds from north to south. It is an area of mostly flat prairie. Bancorp, Inc. is incorporated in the State of Illinois and has its corporate executive offices located in Pewaukee, Wisconsin Pewaukee is a city in Waukesha County, Wisconsin, United States. The population was 11,783 at the 2000 census. The city was incorporated from what was formerly the Town of Pewaukee. . At December 31, 1998, the Company had the following affiliate banks: Central Illinois Bank, Champaign, Illinois “Champaign” redirects here. For topics with similar names, see Champagne. Champaign is a city in Champaign County, Illinois, in the United States. As reported in the 2000 U.S. Census, the city was home to 67,518 people. , had sixteen banking facilities located throughout central Illinois. Total assets of the bank were $600 million at December 31, 1998, as compared to $511 million at December 31, 1997. Net income for the twelve months ended December 31, 1998, was $6.3 million as compared to $4.3 million for the same period 1997. CIB Bank CIB Bank is the fourth-biggest commercial bank in Hungary, and is to be merged with Inter-Európa Bank. This follows the 2007 merger of their respective Italian parent companies, Banca Intesa and Sanpaolo IMI to form Intesa Sanpaolo. , Hillside, Illinois, had eight banking facilities located in the Chicago metropolitan area “Chicagoland” redirects here. For for the racing venue, see Chicagoland Speedway. The Chicago metropolitan area is the metropolitan area associated with the city of Chicago in the United States. . Total assets of the bank were $460 million at December 31, 1998, as compared to $248 million at December 31, 1997. Net income for the twelve months ended December 31, 1998, was $3.7 million as compared to $1.6 million for the same period 1997. Marine Bank and Savings, Cedarburg, Wisconsin, had four banking facilities located in the Milwaukee metropolitan area. Total assets of the bank were $111 million at December 31, 1998, as compared to $52 million at December 31, 1997. Net income for the twelve months ended December 31, 1998, was $224 thousand as compared to a loss of $179 thousand for the same period 1997. CIB Bank, Indianapolis, Indiana had two banking facilities located in the Indianapolis metropolitan area. Total assets of the bank were $31 million at December 31, 1998. The bank incurred a loss of $88 thousand during its first nine months of operations. In addition, the Company also owned the following non-bank subsidiares: Marine Trust and Investment Company, a trust company, Mortgage Services, Inc., a mortgage banking company, and C.I.B. Data Processing Services, Inc., a data processing company. Marine Trust and Investment Company ended the year with assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. or custody, of $110 million. The trust company was not profitable during 1998. Mortgage Services, Inc. had net income of $472 thousand for the twelve months ended December 31, 1998, as compared to $71 thousand for the same period during 1997. Our Data Processing subsidiary provides processing services to the Company and its subsidiaries. |
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