Correction to Klamath First Bancorp Inc. Earnings Release Issued April 22.In BW1638-04/22/1999 (OR-KLAMATH-FIRST-BANCORP)(KFBI) Klamath Klamath, indigenous people of North America Klamath (klăm`əth), Native North Americans who in the 19th cent. lived in SW Oregon. First Bancorp
First BanCorp is a financial holding company located in San Juan, Puerto Rico, which offers a full range of financial services in Puerto Rico, US Virgin Islands, the British Virgin Islands, and Inc. Announces 33% Increase in Earnings Per Share with Strong Second Quarter Earnings and Strong Growth Trends, the following changes should be made to the 11th graph: -- the second line should read xxx shares outstanding of 6,916,105 (sted xxx shares outstanding of 7,932,676) -- the third line should read xxx decreased to $15.72 (sted xxx decreased to $13.70) -- the seventh line should read xxx on April 2, 1999 (sted xxx on April 5, 1999) A corrected version of the graph follows: Based upon the quarter-end shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. of $108.7 million and shares outstanding of 6,916,105 after the tender offer, book value per share decreased to $15.72 compared to $16.30 for the fiscal year-end Fiscal Year-End The completion of a one-year, or 12-month, accounting period. Notes: The reason that a company's fiscal year often differs from the calendar year and does not close on Dec 31, is due to the nature of company's needs. . The Board of Directors declared de·clare v. de·clared, de·clar·ing, de·clares v.tr. 1. To make known formally or officially. See Synonyms at announce. 2. To state emphatically or authoritatively; affirm. 3. a quarterly cash dividend of $0.12 per common share at their March 17, 1999 board meeting, payable April 19, 1999 to shareholders of record as of the close of business on April 2, 1999. This is a 26.32% increase over the prior dividend of $0.095 and is the fourteenth consecutive quarterly cash dividend declared by the Company. These same changes also need to be made in the Consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: Financial Highlights table as corrected below: -0-
CONSOLIDATED FINANCIAL HIGHLIGHTS
($ in thousands, except per share information)
For the six months For the quarters
ended ended
March 31, March 31,
1999 1998 1999 1998
Ending Period Shares
Outstanding 6,916,105 9,235,582 6,916,105 9,235,582
Book Value per Share $15.72 $16.16 $15.72 $16.16
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