FPB Financial Corp. Announces 1999 Third Quarter Earnings.HAMMOND, La.--(BUSINESS WIRE)--Oct. 13, 1999-- Fritz fritz n. Informal A condition in which something does not work properly: Our television is on the fritz. [Perhaps from German Fritz W. Anderson II, President & Chief Executive Officer of FPB FPB Forum of Private Business (UK) FPB Forest Practices Board FPB Fritz's Polka Band FPB Fast Patrol Boat FPB Flexor Pollicis Brevis FPB Fédération Pétrolière Belge (Belgium) FPB Farmland Protection Board Financial Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: FPBF), the holding company for Florida Parishes The Florida Parishes are those parishes in Louisiana which were part of West Florida in the early 19th century. Unlike much of the state of Louisiana, this region was not part of the Louisiana Purchase, as it remained under Spanish control. Bank, announced earnings for the quarter and nine months ended September 30, 1999. FPB Financial Corp. reported third-quarter net income of $103,000 ($.31 per common share), up 28.8% from $80,000 in the comparable 1998 third quarter. Net income increased to $266,000 ($.80 per common share) for the nine months ended September 30, 1999, up 12.7% from $236,000 for the 1998 comparable period. This is the Company's first quarter of operations since the completion of a mutual to stock conversion on June 30, 1999. Total assets as of September 30, 1999 increased to $50.1 million from $38.7 million on September 30, 1998. 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. as of September 30, 1999 was $6.5 million compared to $3.6 million of retained earnings Retained Earnings The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. on September 30, 1998, an increase of $2.9 million. The increase in stockholders' equity is primarily attributable to the Company's initial public offering, pursuant to which the Company sold 331,355 shares of common stock to the public at $10 per share. FPB Financial Corp. is a publicly traded unitary unitary pertaining to a single object or individual. thrift holding company headquartered in Hammond, La, and is the parent company of Florida Parishes Bank. -0-
FPB Financial Corp.
Selected Balances at September 30: 1999 1998
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Cash and Cash Equivalents $5,420,713 $2,524,172
Loans 40,217,334 31,328,494
Total Assets 50,134,327 38,743,023
Deposits 37,711,188 32,267,221
Stockholders' Equity 6,542,046 3,571,938
Book Value per Share 19.74 N/A
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