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LOYOLA CAPITAL POSTS RECORD EARNINGS FOR 1992; DECLARES DIVIDEND AND ANNOUNCES NEW STOCK REPURCHASE PROGRAM

 BALTIMORE, Jan. 19 /PRNewswire/ -- Loyola Capital Corporation (NASDAQ: LOYC), the holding company for Loyola Federal Savings Bank, today announced record net income for 1992, along with improved credit quality and higher capital.
 For the year ended Dec. 31, 1992, net income of $14.1 million ($1.60 per share) rose 33 percent over $10.6 million earned during 1991. Net income for 1992 includes $2.7 million for the cumulative effect of a change in accounting for income taxes and $1.8 million, net of income taxes, for a gain on sales of mortgage-backed securities. Net interest income of $65.8 million in 1992 rose 6 percent over last year. Earnings have been reported on a fully diluted basis.
 The board of directors declared a dividend of $.06 per share, payable March 31, 1993, to holders of record at the close of business on March 15.
 Commenting at year-end, Joseph W. Mosmiller, chairman of the board and chief executive officer, said, "Loyola ended 1992 in the strongest position in our history. Our capital position is sound, and loan quality is exceptional. We originated a record number of mortgages this year, which will contribute to loan servicing profits for years to come."
 Mosmiller also stated that the board of directors has authorized a new stock repurchase program to acquire up to 400,000 shares of the corporation's common stock. Previous programs have resulted in the repurchase of 1.9 million shares. This new program represents approximately 5 percent of outstanding shares.
 Fourth Quarter Results
 For the fourth quarter, net income was $2.4 million ($.27 per share) as compared with $2.9 million ($.33 per share) in the fourth quarter of 1991.
 The total provision for loan and real estate losses for the fourth quarter was $2.8 million which equalled the amount for the fourth quarter of 1991. As a result of management's evaluation of its loan and real estate portfolio at year end, $4.6 million was transferred from the allowance for loan losses to the allowance for real estate losses.
 Balance Sheet Highlights
 Stockholders' equity at Dec. 31, 1992 was $149.1 million. Loyola exceeds all required levels for core, tangible and risk-adjusted capital.
 The corporation's total nonperforming assets at Dec. 31 declined to $47.9 million, as compared with $51.9 million one year ago, due to liquidations of real estate acquired through foreclosure and repossessed autos and boats. In Loyola's consumer loan portfolio, higher credit quality was evidenced, with nonaccrual loans and repossessions declining 27 percent and other measures of quality also improving.
 At Dec. 31, 1992, there were 8,185,305 shares of common stock outstanding. During the year, the corporation purchased approximately 380,000 shares of common stock in open market or negotiated transactions as part of is repurchase program. Loyola has continuously repurchased shares to increase book value and increase shareholder value.
 Consolidated Financial Statements follow. A detailed statistical report is available upon request.
 LOYOLA CAPITAL CORPORATION AND SUBSIDIARIES
 Consolidated Statements of Financial Condition
 (Unaudited; in thousands)
 Dec. 31, 1992 Dec. 31, 1991
 Assets:
 Cash and demand deposits $18,608 $13,605
 Money market investments 126,486 19,977
 Investment securities 128,029 43,916
 Mortgage-backed securities 500 132,557
 Loans receivable, net 1,390,087 1,667,070
 Ground rents owned, at cost 3,492 3,526
 Investments in real estate, net 56,438 68,025
 Federal Home Loan Bank of
 Atlanta stock, at cost 20,618 19,389
 Property and equipment, net 26,106 25,773
 Prepaid expenses and other assets 7,254 6,922
 Deferred income taxes 7,328 905
 Total 1,784,946 2,001,665
 Liabilities and stockholders' equity:
 Liabilities:
 Deposits $1,465,585 $1,614,442
 Notes payable and other borrowings 125,588 185,070
 Mortgage escrow accounts 22,143 21,901
 Drafts payable 14,902 21,705
 Federal and state income taxes 392 1,096
 Accrued expenses and other liabilities 7,235 16,893
 Total liabilities 1,635,845 1,861,107
 Stockholders' equity:
 Common stock 819 424
 Additional paid-in capital 46,665 50,375
 Retained income -- substantially
 restricted 101,617 89,759
 Total stockholders' equity 149,101 140,558
 Total 1,784,946 2,001,665
 Book value per common share $18.22 $16.59
 Consolidated Statements of Income
 (Unaudited; in thousands, except per-share data)
 Periods ended Quarters 12 months
 Dec. 31 1992 1991 1992 1991
 Interest income:
 Loans receivable $33,154 $41,090 $142,228 $171,210
 Mortgage-backed securities 4 2,764 268 11,156
 Investments 2,630 1,808 10,747 8,933
 Total interest income 35,788 45,662 153,243 191,299
 Interest expense:
 Deposits 16,585 25,262 77,270 109,864
 Notes payable and
 other borrowings 2,611 3,962 10,187 19,306
 Total interest expense 19,196 29,224 87,457 129,170
 Net interest income 16,592 16,438 65,786 62,129
 Provision for loan losses (1,760) 2,561 7,065 11,399
 Net interest income after
 provision for loan losses 18,352 13,877 58,721 50,730
 Non-interest income:
 Service fees on loans 1,545 2,013 6,486 7,435
 Service fees on deposits 184 267 789 843
 Insurance commissions 365 517 2,671 2,158
 Gain on sales of loans, net 273 1,093 1,521 2,828
 Gain on sales of mortgage-backed
 securities --- --- 2,900 ---
 Other 583 218 1,657 983
 Total non-interest income 2,950 4,108 16,024 14,247
 Non-interest expenses:
 Salaries and employee benefits 6,065 5,473 23,331 21,154
 Rent and other occupancy 1,138 1,106 4,275 4,192
 Advertising 621 178 2,340 1,537
 Data processing 1,553 1,769 6,217 5,584
 Equipment expense 424 412 1,655 1,617
 Federal deposit insurance and
 fees 869 988 3,812 3,848
 Loss on investment
 in real estate, net 4,414 292 5,819 432
 Other 2,245 2,372 8,431 7,936
 Total non-interest expenses 17,329 12,590 55,880 46,300
 Income before income taxes
 and cumulative effect of
 accounting change 3,973 5,395 18,865 18,677
 Income taxes 1,576 2,475 7,460 8,039
 Income before cumulative effect
 of accounting change 2,397 2,920 11,405 10,638
 Cumulative effect of change
 in accounting for income taxes --- --- 2,708 ---
 Net income 2,397 2,920 14,113 10,638
 Fully diluted net income per
 share:
 Income before cumulative effect
 of accounting change .27 .33 1.29 1.18
 Net income .27 .33 1.60 1.18
 Average shares of common stock
 and common stock equivalents
 outstanding 8,756,689 8,764,344 8,811,470 9,039,730
 -0- 1/19/93
 /CONTACT: James McAveney, executive vice president of Loyola Capital, 410-332-7074/
 (LOYC)


CO: Loyola Capital Corporation ST: Maryland IN: FIN SU: ERN DIV

MJ-JS -- PH007 -- 6354 01/19/93 12:36 EST
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