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EDGEMARK FINANCIAL ANNOUNCES SECOND QUARTER AND SIX MONTHS EARNINGS

EDGEMARK FINANCIAL ANNOUNCES SECOND QUARTER AND SIX MONTHS EARNINGS
 CHICAGO, July 14 /PRNewswire/ -- EdgeMark Financial Corp. today reported 1992 second quarter net income applicable to common stock of $428,000, or $0.29 per share, compared to $431,000 or $0.30 per share for the same quarter last year. For the six months ended June 30, 1992, net income rose 6.5 percent to $1,293,000 from $1,214,000 at June 30, 1991. Net income applicable to common stock rose 12 percent to $905,000, or $0.62 per share, from $810,000, or $.056 per share at June 30, 1991.
 According to Charles A. Bruning, EdgeMark Financial Corp.'s president and chief executive officer, quarterly results were essentially unchanged because of securities losses in the amount of $39,000 taken in the recent quarter, compared to the $144,000 in securities gains taken during the same quarter in 1991.
 Net interest income for the quarter rose two percent, while other income jumped 67 percent, primarily due to mortgage brokerage fees generated by the mortgage brokerage operation of one of the corporation's banks. Interest income declined 10 percent and interest expense declined 22 percent, while other expenses net of those attributable to the mortgage brokerage operation rose 4.8 percent. Total other expense rose 13 percent.
 The loan loss provision for the quarter decreased by three percent to $361,000, from $373,000 a year ago. For the six month period, the loan loss provision more than doubled, to $1,248,833 from $563,424 a year ago. Net charge-offs for the quarter and six-month period were $1,148,520 and $2,188,198 respectively, compared to $320,003 and $656,265 for the comparable periods a year ago.
 Net loans outstanding increased eight percent to $336,000,000 from $311,000,000 a year earlier. Total deposits at June 30 were $446,000,000, a five percent increase from the same period last year. Total assets as of June 30 were $509,000,000, a four percent increase from June 30 a year ago.
 "We were pleased with the corporation's overall performance in the quarter and six months period, considering the level of loan activity, and are encouraged by the continued upward trend of our net interest margin," said Bruning. The corporation's net interest margin was 4.84 percent in the second quarter, compared to 4.78 percent at March 31; 4.40 at Dec. 31, 1991; and 4.26 percent at Sept. 30, 1991.
 Bruning explained: "We have been able to offset the decrease of interest income resulting from the drop in interest rates by reducing our cost of money. From an asset quality perspective, our nonperforming ratios are better than average, when compared to our peer group." The corporation's nonperforming loans as of June 30 remained unchanged at 1.68 percent of total loans compared to 1.68 percent at March 31, and 2.37 percent a year ago.
 "In general, we believe there will probably not be a significant surge of economic activity in the Chicagoland area for the remainder of the year. However, there will be certain advantages for banks in Chicago and the Midwest, particularly since this region is faring better than the rest of the country in terms of the severity of recessionary forces," said Bruning.
 The common stock of EdgeMark Financial Corp. is publicly listed and traded through The Chicago Corp. and Kemper Securities Group.
 EdgeMark Financial Corp. is a $509-million multi-bank holding company that owns and operates Merchandise National Bank of Chicago; Edgewood Bank in Countryside and Woodridge; EdgeMark Bank Lombard; First National Bank of Lockport and EdgeMark Bank Rosemont. EdgeMark Mortgage, the corporation's mortgage brokerage operation, is a division of EdgeMark Bank Lombard.
 EDGEMARK FINANCIAL CORP.
 Second Quarter 1992 And Six Months Financial Highlights
 QUARTERLY COMPARISON Second Quarter Second Quarter Percent
 1992 1991 Change
 Net income $ 623,040 $ 625,478 (.39)
 Per share .29 .30 (3.39)
 Net interest income 5,488,889 5,269,720 4.16
 Return on average assets .48 Pct. .52 Pct. N/A
 Return on average
 common equity 5.88 Pct 6.29 Pct N/A
 Noninterest income $1,371,095 $ 925,055 48.23
 Noninterest expense 5,690,922 5,051,088 12.67
 Loan loss provision 361,083 372,923 (3.17)
 Net charge-offs 1,148,520 320,003 258.91
 Weighted average shares and
 share equivalents 1,454,692 1,459,067 N/A
 Percent
 YEAR-TO-DATE COMPARISON 1992 1991 Change
 Net income $1,293,257 $1,213,603 6.56
 Per share .62 .56 10.71
 Net interest income 10,908,819 10,007,746 9.00
 Return on average assets .50 Pct. .50 Pct. N/A
 Return on average
 common equity 6.11 Pct. 6.11 Pct. N/A
 Noninterest income $3,248,276 $1,719,645 88.89
 Noninterest expense 11,258,563 9,688,174 16.21
 Loan loss provision 1,248,833 563,424 121.65
 Net charge-offs 2,188,198 656,265 233.43
 Weighted average shares and
 share equivalents 1,454,383 1,459,436 N/A
 EDGEMARK FINANCIAL CORP.
 Balance Sheet (Six Months Ended June 30)
 6/30/92 12/31/91 6/30/91
 Assets $509,348,887 $516,943,125 $489,184,342
 Deposits 446,262,078 456,988,585 425,392,848
 Net loans 335,642,536 324,760,366 311,364,394
 Shareholders' equity 42,582,182 41,628,926 40,401,614
 Loan take for loan losses 3,506,729 4,446,093 3,074,699
 Allowance/loans ratio 1.03 Pct. 1.35 Pct. .98 Pct.
 Non-performing loans $ 5,690,833 $ 4,518,028 $ 7,452,000
 as a percent of loans 1.68 Pct. 1.37 Pct. 2.37 Pct.
 Leverage ratio 5.11 4.52 4.68
 Book value per share $23.99 $23.28 $24.48
 -0- 7/14/92
 /CONTACT: Charles Bruning of EdgeMark Financial, 312-836-8001; or George Morvis of Financial Shares Corp., 312-943-8116, for EdgeMark/ CO: EdgeMark Financial Corp. ST: Illinois IN: FIN SU: ERN


SM -- NY081 -- 9300 07/14/92 17:30 EDT
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