Marathon Bancorp Reports Year-End 2001 Operating Results.Business Editors LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--Jan. 25, 2002 Marathon 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 results for the fourth quarter and year ended 2001. Marathon Bancorp's fourth quarter 2001 pre-tax pre-tax adj → anterior al impuesto pre-tax adj → avant impôt(s) pre-tax adj → al lordo d'imposta earnings were $321,000 versus $343,000 earned for the fourth quarter of 2000. Net Income for the fourth quarter was $294,000 versus $445,000 for the fourth 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 $0.08 for the fourth quarter of 2001 versus $0.12 per share for the same period in 2000. Pre-tax earnings for the year ended December December: see month. 31, 2001 were $1,066,000 an increase of 7.5% over the $992,000 earned for the year ended December 31, 2000. Net income for the year 2001 was $1,047,000, or $0.27 per basic and diluted share, compared to $1,104,000, or $0.29 per basic and diluted share. 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:
adj. Causing horror; terrifying. [Latin horrificus : horr  re, to tremble + -ficus, -fic. drop in interest rates during year 2001."Marathon Bancorp's assets averaged $107,298,000 during the fourth quarter and ended the year 2001 at $102,339,000 compared to an average of $90,606,000 for the fourth quarter of 2000 and a year-end 2000 total of $92,916,000. 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. increased 12.8% to $11,792,000 at year-end 2001 and book value per share increased to $3.06 a 12.1% increase over the $2.73 per share at December 31, 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 year ended December 31, 2001 was 9.4% and the return on average assets (ROA ROA See: Return on assets ROA See: Right of accumulation ROA See return on assets (ROA). ) was 1.05%.
Consolidated Balance Sheets
(In thousands)
2001 2000
Assets:
Cash and due from banks $ 4,291 $ 3,675
Investments and Fed funds sold 32,618 32,180
Loans and leases 60,988 52,872
Allowance for loan losses (1,082) (1,066)
Net loans 59,906 51,806
Other real estate owned - -
Cash surrender value of life insurance 3,855 3,667
Other assets 1,669 1,588
Total assets 102,339 92,916
Liabilities:
Deposits 89,648 79,885
Federal Home Loan Bank Advance - 1,800
Other liabilities 899 776
Stockholders' equity 11,792 10,455
Total liabilities and
stockholders' equity $102,339 $ 92,916
Consolidated Statements of Income
(in thousands)
Three Months Ended Year Ended
December 31, December 31,
2001 2000 2001 2000
Interest income $ 1,670 $ 1,814 $ 6,877 $ 6,760
Interest expense 434 552 2,058 2,122
Provision for loan losses - 10 45 100
Net interest income
after provision 1,236 1,252 4,774 4,538
Noninterest income 192 139 708 557
Noninterest expense 1,107 1,048 4,416 4,103
Income before income taxes 321 343 1,066 992
Income taxes (benefit) 27 (102) 19 (112)
Net income $ 294 $ 445 $ 1,047 $ 1,104
Net Income Per
Share (Basic) $ 0.08 $ 0.12 $ 0.27 $ 0.29
Average Shares
Outstanding 3,852,819 3,838,019 3,849,287 3,836,588
Net Income Per Share
(Diluted) $ 0.08 $ 0.12 $ 0.27 $ 0.29
Average Diluted
Shares Outstanding 3,913,417 3,838,019 3,891,505 3,836,588
Book value per share $ 3.06 $ 2.73
Actual Shares Outstanding 3,852,819 3,838,019
Return on Average
Assets (ROA) 1.09% 1.96% 1.05% 1.24%
Return on Average
Equity (ROE) 9.97% 17.52% 9.39% 11.45%
Marathon Bancorp trades on the OTCBB under the symbol MARB.
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