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EDGEMARK FINANCIAL CORP. POSTS THIRD QUARTER GAINS

 CHICAGO, Oct. 21 /PRNewswire/ -- EdgeMark Financial Corp. (NASDAQ: EDGE) today reported that 1993 third quarter net income applicable to common stock rose 62.7 percent to $915,725, or $0.62 per common share, compared to $562,861, or $0.38 per common share, for the same quarter last year.
 Earnings for the first nine months of 1993 were up 158.9 percent to $2,453,203, or $1.68 per common share, from the $947,509, or $0.65 per common share, recorded for the first nine months of 1992.
 According to Charles A. Bruning, president and chief executive officer, the quarter's performance was primarily attributable to vastly improved credit quality, tighter expense control, and gains in fee income.
 Net interest income rose 2.61 percent for the quarter to $5,729,940, from $5,584,080 for the third quarter of 1992. The loan loss provision declined to $240,000, from $767,750 a year earlier, reflecting a return to a more normalized quarter after the substantial loss provisions recorded last year. Net charge-offs for the quarter were $141,702, as compared to $192,827 for the third quarter of 1992. For the nine months, the net charge-offs were $350,257, compared to $2,381,025 for the 1992 nine-month period, a decrease of $2,030,768, reflecting improved asset quality. Nonperforming loans at Sept. 30, 1993, were $4,901,795, compared to $7,571,592 at Sept. 30, 1992, and $4,231,476 at Dec. 31, 1992.
 The allowance for loan losses was 1.85 percent of net loans for the quarter, compared to 1.36 percent a year earlier and 1.48 at year-end 1992. The ratio of nonperforming to net loans decreased to 1.44 percent at Sept. 30, 1993, from 2.18 percent at Sept. 30, 1992. Net loans outstanding for the first nine months were $334,912,104, down 2.46 percent from the same period last year, primarily due to weak loan demand and payoffs from refinancing activity.
 Noninterest income for the quarter increased 5.63 percent with continued strong contributions from the company's mortgage brokerage operations. Noninterest expense was up 5.49 percent in total and up 1.07 percent net of the mortgage brokerage operations expense for the quarter.
 Total assets as of Sept. 30, 1993, were $533,799,030, and stockholders' equity stood at $40,424,417. The company's leverage capital ratio at Sept. 30, 1993 was 4.79 percent, up from 4.09 percent at Dec. 31, 1992 and compared to 5.13 percent at Sept. 30, 1992.
 EdgeMark Financial Corporation is a $534 million asset, 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 FINANCIAL CORP.
 Third Quarter 1993 And Nine Months Financial Highlights
 Quarterly Comparisons 3 Qtr '93 3 Qtr '92 Pct. Change
 Net Income $1,114,520 $ 758,313 46.97
 Net income applicable
 to common stock 915,725 562,861 62.69
 Per common share 0.62 0.38 63.16
 Net Interest Income 5,729,940 5,584,080 2.61
 Return on average
 assets 0.84 pct. 0.58 pct. 46.42
 Return on average
 equity 11.04 7.12 59.96
 Noninterest income $2,140,452 $2,026,289 5.63
 Noninterest expense 6,197,758 5,875,345 5.49
 Loan loss provision 240,000 767,750 (68.74)
 Net charge-offs 141,702 197,827 (28.37)
 Weighted average shares
 and share equivalent 1,458,188 1,454,692 N/A
 Year-To-Date Comparisons 1993 1992 Pct. Change
 Net Income $3,046,989 $1,531,570 98.95
 Net income applicable
 to common stock 2,453,203 947,509 158.91
 Per common share 1.68 0.65 158.46
 Net Interest Income 17,144,308 16,492,899 3.95
 Return on average
 assets 0.77 pct. 0.44 pct. 75.89
 Return on average
 equity 10.38 5.31 95.46
 Noninterest income $6,392,362 $5,274,565 21.19
 Noninterest expense 18,097,665 17,133,908 5.62
 Loan loss provision 1,628,000 2,666,583 (38.95)
 Net charge-offs 350,257 2,381,025 (85.29)
 Weighted average shares
 and share equivalents 1,456,495 1,454,487 N/A
 BALANCE SHEET
 (Nine Months Ended Sept. 30)
 9/30/93 12/31/92 9/30/92
 Assets $533,799,030 $516,071,198 $532,401,020
 Deposits 474,406,458 459,661,414 467,571,832
 Net loans 334,912,104 333,312,617 343,365,486
 Shareholders' Equity 40,424,417 37,862,322 42,506,602
 Provision for
 loan losses (6,203,249) (5,022,616) (4,732,652)
 Allowance/loans ratio 1.85 pct. 1.48 pct. 1.36 pct.
 Nonperforming loans $ 4,901,795 $ 4,231,476 $ 7,571,592
 as a percent of loans 1.44 pct. 1.25 pct. 2.18 pct.
 Leverage capital ratio 4.79 4.09 5.13
 Book value per
 Common Share $22.38 $20.70 $23.92
 -0- 10/21/93
 /CONTACT: Charles A. Bruning of EdgeMark Financial Corp., 312-836-8001, or George M. Movis of Financial Shares Corp., 312-943-8116/
 (EDGE)


CO: EdgeMark Financial Corp. ST: Illinois IN: FIN SU: ERN

LD -- NY128 -- 2168 10/21/93 18:13 EDT
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Date:Oct 21, 1993
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