Three Rivers Financial Corp. -- AMEX:THR -- Reports Results for the Quarter Ended Dec. 31, 1997.THREE RIVERS Three Rivers, Que., Canada: see Trois Rivières. , Mich.--(BUSINESS WIRE)--Feb. 6, 1998--Three Rivers Financial Corp. had net income of $203,000 for the quarter ended Dec. 31, 1997 compared to net income of $202,000 for the same period one year earlier. Net income for the six months ended Dec. 31, 1997 was $428,000. Interest income for the quarter ended Dec. 31, 1997 was $1,802,000 compared to the year earlier figure of $1,704,000. Interest expense for the current quarter was $948,000 compared to $839,000 for the quarter ended Dec. 31, 1996. At Dec. 31, 1997, total assets were $97,487,000, net loans were $62,563,000 and total deposits were $61,347,000. 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 income for the quarter was 26 cents. As of Dec. 31, 1997, the book value was $15.92 per share and there were 824,540 shares of common stock outstanding. Three Rivers Financial Corp. is a unitary unitary pertaining to a single object or individual. savings and loan savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. holding company that owns all of the issued and outstanding capital stock of First Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. A Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks , Three Rivers, Michigan For other uses, see Three Rivers (disambiguation). Three Rivers is a city in St. Joseph County in the U.S. state of Michigan. Three Rivers derives its name from the confluence of the St. Joseph River with its tributaries the Rocky and Portage Rivers. ("bank"). The bank is a community oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. full service financial institution offering traditional deposit and loan products from its main office in Three Rivers, Michigan and its three branch offices in Schoolcraft, Union, and Three Rivers, Michigan. Selected financial data follows -0-
SELECTED FINANCIAL INFORMATION
Three Months Ended Dec. 31,
1997 1996
(In thousands, except per share data)
Total Interest Income $ 1,802 $ 1,704
Total Interest Expense 948 839
Net Interest Income 854 865
Provision for loan losses 15 15
Net Interest Income after
Provision for loan losses 839 850
Non-interest Income 148 149
Non-interest Expense 703 683
Federal Income Tax 81 114
Net Income 203 202
Basic Earnings per share 0.26 0.26
Diluted Earnings per share 0.26 0.26
SELECTED FINANCIAL INFORMATION
Six Months Ended Dec. 31,
1997 1996
(In thousands, except per share data)
Total Interest Income $ 3,607 $ 3,363
Total Interest Expense 1,914 1,661
Net Interest Income 1,693 1,702
Provision for loan losses 30 30
Net Interest Income after
Provision for loan losses 1,663 1,672
Non-interest Income 311 254
Non-interest Expense 1,365 1,752(a)
Federal Income Tax 181 64
Net Income 428 110(a)
Basic Earnings per share 0.56 0.56
Diluted Earnings per share 0.56 0.56
(a) Includes a $411,000 pre-tax charge for a special assessment
by the Savings Association Insurance Fund
CONTACT: Three Rivers Financial Corp., Three Rivers G. Richard Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a Gatton This article is about a town in England. For other uses, see Gatton (disambiguation). Gatton was a small town near Reigate in Surrey, United Kingdom. It elected two members to the Unreformed House of Commons but by 1831 had only seven voters and was disenfranchised , 616/279-5117 |
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