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MARK TWAIN'S FIRST QUARTER INCOME INCREASES 27.5 PERCENT TO REACH RECORD HIGH

 ST. LOUIS, April 13 /PRNewswire/ -- Mark Twain Bancshares (NASDAQ: MTWN) today announced a 27.5 percent increase in first quarter 1993 earnings from first quarter last year. Income from the first three months was $7.826 million and was a record quarterly total. The quarter was the eighth consecutive quarter of record quarterly earnings.
 Primary earnings per share grew 22.1 percent for the quarter, compared to first quarter 1992, to total $0.83. Fully diluted earnings per share increased 23.1 percent to total $.80.
 Return on average assets was 1.42 percent in the first quarter, compared to 1.15 percent in the first quarter last year and 1.31 percent in the fourth quarter last year. Return on common shareholders' equity was 18.25 percent for the quarter, compared to 16.51 percent in the first quarter last year and 17.61 percent in the fourth quarter last year.
 "We had a very strong first quarter this year," said John P. Dubinsky, Mark Twain president and chief executive officer. "Our performance numbers for the first quarter give us great optimism that 1993 will be yet another record year for us."
 Dubinsky said that Mark Twain's results were achieved by following the same key principles it has focused on throughout the past five years: Maintain high quality assets, minimize increases in overhead expenses, maximize opportunities for growth of fee generating subsidiaries, and aggressively solicit new business.
 "The more success we have, the more we become committed to these strategies," he said.
 Mark Twain's assets grew modestly in the first quarter, compared to first quarter 1992, to total $2.225 billion. Total loans totaled $1.495 billion and were 1.0 percent higher than a year ago.
 "We have seen a material increase in loan demand and loan outstandings in the last 45 days," Dubinsky indicated. "We would expect our loan outstandings to continue to grow in the second quarter. We are very pleased with the results of our business development efforts and our current "Business Loans for Local Jobs" advertising campaign."
 Net interest income grew by 16.7 percent in the first quarter, compared to first quarter 1992. The increase was attributable to a 53- basis-point increase in net interest margin over the comparative period to total 4.96 percent in the first quarter 1993, compared to 4.43 percent for the first quarter of 1992 and 4.78 percent for the fourth quarter of 1992.
 Mark Twain's loan quality remained in strong condition in the first quarter. Non-performing assets were 1.92 percent of total loans plus foreclosed real estate, compared to 2.05 percent in the first quarter 1992 and 1.75 percent at year-end 1992. Current industry averages are substantially above these ranges.
 Mark Twain's loan loss reserve remained at the same approximate level at quarter end as it did at year-end 1992. This level now represents 1.63 percent of total loans, compared to 1.58 percent in the first quarter 1992 and 1.65 percent in the fourth quarter 1992. It represents 168.64 percent of non-performing loans, compared to 112.99 percent in the first quarter 1992 and 155.71 percent in the fourth quarter 1992.
 Net charge-offs for the first quarter 1993 were .12 percent of average total loans (annualized rate of .50 percent), compared to .04 percent in the first quarter 1992 and .46 percent for all of 1992. Mark Twain continues to experience loan loss levels substantially below its peer banks and consistent with 1992.
 "In addition to a strong loan portfolio, Mark Twain has traditionally been an exemplary collector," said Dubinsky. "This combination has contributed to a low level of losses for the company throughout our history."
 During the first quarter of 1993, the company raised its annual dividend rate from an annualized rate of $1.04 per share ($.26 quarterly per share) to an annualized rate of $1.16 per share ($.29 quarterly per share). This was the 26th dividend increase since the company went public in 1969.
 Mark Twain Bancshares, Inc. is a 29-year-old bank holding company with 30 banking locations in three states: 18 throughout St. Louis, St. Louis County and St. Charles County; as well as five in Kansas City, Mo.; two in Shawnee, Kansas; and five in Belleville and Edwardsville, Ill. Mark Twain operates 43 brokerage locations in six states. Related financial services include: Mark Twain Capital Markets Group; Mark Twain Brokerage Services, Inc.; Mark Twain Public Finance Division; Mark Twain Commercial Finance Division; Mark Twain International Division; Mark Twain Leasing Division; Mark Twain Mortgage Division; and Mark Twain Trust Division. Mark Twain stock is traded over-the-counter under the NASDAQ symbol MTWN.
 MARK TWAIN BANCSHARES, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED BALANCE SHEET
 March 31, March 31, December 31,
 1993 1992 1992
 (in thousands of $)
 Assets
 Cash and due from banks $ 88,892 $ 87,900 $ 105,464
 Interest bearing deposits
 with banks 598 575 598
 Federal funds sold and securities
 purchased under resale
 agreements 3,150 14,550 29,400
 Trading account securities 17,470 3,838 23,014
 Mortgage loans held for resale 49,944 103,755 72,030
 Investment securities 475,268 411,960 458,834
 Loans, net of allowance for loan
 losses of $24,298, $23,333 and
 $23,794, respectively 1,470,260 1,456,629 1,416,951
 Premises and equipment 27,425 26,757 27,180
 Accrued income receivable 13,550 15,295 13,400
 Other assets 78,246 62,651 66,258
 Total Assets $2,224,803 $2,183,910 $2,213,129
 Liabilities
 Non-interest bearing
 deposits $ 306,287 $ 280,707 $ 345,507
 Interest bearing deposits 1,526,116 1,566,344 1,545,858
 Total Deposits 1,832,403 1,847,051 1,891,365
 Short-term borrowings 141,297 125,468 94,408
 Other liabilities 48,690 31,809 33,692
 Long-term debt 25,472 26,665 26,272
 Total Liabilities 2,047,862 2,030,993 2,045,737
 Shareholders' Equity
 Common stock, $1.25 par value,
 authorized 14,000,000
 shares, issued 9,695,965,
 9,406,523 and 9,417,176
 shares, respectively 12,120 11,758 11,772
 Surplus 51,003 49,233 49,591
 Undivided profits 116,481 95,525 109,380
 179,604 156,516 170,743
 Less common treasury stock at
 cost, 372,604, 436,058 and
 419,869 shares respectively 2,663 3,599 3,351
 Total Shareholders' Equity 176,941 152,917 167,392
 Total Liabilities and
 Shareholders' Equity $2,224,803 $2,183,910 $2,213,129
 MARK TWAIN BANCSHARES, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENT OF INCOME
 For the Three Months Ended
 March 31,
 1993 1992
 (in thousands of $ except for per share data)
 Interest From Earnings Assets
 Interest and fees on loans $ 28,957 $31,791
 Interest on investment securities
 Taxable 9,232 8,640
 Non-Taxable 93 124
 Interest on trading account securities 956 119
 Interest on mortgage loans held for
 resale 963 1,188
 Interest on deposits with banks 6 6
 Interest on federal funds sold
 and securities purchased under
 resale agreements 59 81
 Total Interest Income 40,266 41,949
 Interest Expense
 Interest on deposits 13,541 18,787
 Interest on short-term borrowings 1,247 1,235
 Interest on long-term debt 496 518
 Total Interest Expense 15,284 20,540
 Net interest income 24,982 21,409
 Provision for loan losses 1,767 1,569
 Net Interest Income After Provision
 For Loan Losses 23,215 19,840
 Other Income
 Service charges on deposit accounts 2,021 1,890
 Securities transactions 0 1,251
 Other income 7,010 6,358
 Total Other Income 9,031 9,499
 Other Expenses
 Salaries 8,721 8,160
 Employees benefits 1,660 1,651
 Net occupancy expense 2,228 1,830
 Furniture and equipment expense 940 859
 Other expenses 6,895 6,441
 Total Other Expenses 20,444 18,941
 Income Before Income Taxes 11,802 10,398
 Applicable income tax 3,976 4,258
 Net Income $7,826 $6,140
 Net Income Per Share:
 Primary $.83 $.68
 Fully Diluted $.80 $.65
 Common Dividends Paid Per Share $.29 $.24
 -0- 4/13/93
 /CONTACT: Keith Miller of Mark Twain Bancshares, 314-889-0781/
 (MTWN)


CO: Mark Twain Bancshares ST: Missouri IN: FIN SU: ERN

KD -- NY090 -- 5438 04/13/93 17:51 EDT
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