Marathon Bancorp Reports Second-Quarter Earnings.Business Editors LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--July 16, 2001 Marathon Marathon (mâr`əthŏn), village and plain, ancient Greece, 20 mi (32 km) NE of Athens. Here the Athenians and Plataeans under Miltiades defeated a Persian army in 490 B.C. (see Persian Wars). Bancorp (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :MARB MARB March Air Reserve Base (California) MARB Marine Assistance Request Broadcast MARB Metropolitan Area Rover Ball (Australia) MARB Thomas L Martin Building ), parent company of Marathon National Bank, today announced second-quarter 2001 earnings of $206,000 versus $218,000 for the second quarter of 2000. The basic and diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. per share earnings were $0.05 for 2001 versus $0.06 per share for the same period in 2000. The six-month earnings were $459,000, a 26 percent increase over the $363,000 reported for the six months ended June June: see month. 30, 2000. The basic and diluted per share earnings were $0.12 for 2001 versus $0.09 per share for the same period in 2000. Craig Craig , Edward Gordon 1872-1966. British theatrical producer, director, and designer whose innovative productions and simplified stage designs influenced modern theater. Collette Collette is a surname or given name, and may refer to:
Assets increased 7 percent to $98,856,000; loans increased 23 percent to $63,729,000; and deposits increased 6 percent to $86,960,000 between June 2000 and June 2001. 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. grew to $11,030,000 and book value per share increased to $2.87, a 16 percent increase over the $2.47 per share at June 30, 2000. Return on average equity (ROE A fictitious surname used for an unknown or anonymous person or for a hypothetical person in an illustration. A lawsuit is generally named for the persons who are parties to it. ) for the first six months of 2001 was 8.59 percent.
Consolidated Balance Sheets
(unaudited)
(in thousands) June 30,
2001 2000
Assets:
Cash and due from banks $ 4,432 $ 5,090
Investments and Fed funds sold 26,469 31,741
Loans and leases 63,729 51,705
Allowance for loan losses (1,063) (921)
Net loans 62,666 50,784
Other real estate owned 0 0
Cash surrender value of life insurance 3,759 3,576
Other assets 1,530 1,369
Total assets 98,856 92,560
Liabilities:
Deposits 86,960 82,315
Other liabilities 866 751
Stockholders' equity 11,030 9,494
Total liabilities and stockholders' equity $ 98,856 $ 92,560
Consolidated Statements of Income
(unaudited) Three Months Ended Six Months Ended
(in thousands) June 30, June 30,
2001 2000 2001 2000
Interest income $ 1,694 $ 1,668 $ 3,431 $ 3,183
Interest expense 507 536 1,089 1,026
Provision for loan losses 25 30 25 60
Net interest income
after provision 1,162 1,102 2,317 2,097
Noninterest income 146 146 334 275
Noninterest expense 1,105 1,031 2,197 2,012
Income before income taxes 203 217 454 360
Income taxes (benefit) (3) (1) (5) (3)
Net income $ 206 $ 218 $ 459 $ 363
Net Income Per Share (Basic) $ 0.05 $ 0.06 $ 0.12 $ 0.09
Average Shares Outstanding 3,849,819 3,837,019 3,846,014 3,835,183
Net Income Per Share (Diluted) $ 0.05 $ 0.06 $ 0.12 $ 0.09
Average Diluted Shares
Outstanding 3,854,495 3,837,019 3,850,690 3,835,183
Book value per share $ 2.87 $ 2.47
Actual Shares Outstanding 3,849,819 3,837,019
Return on Average Assets (ROA) 0.89% 0.98% 0.99% 0.83%
Return on Average Equity (ROE) 7.55% 9.39% 8.59% 7.85%
Marathon Bancorp trades on the OTCBB under the symbol MARB. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion