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MAGNA GROUP REPORTS RESULTS

 MAGNA GROUP REPORTS RESULTS
 ST. LOUIS, Oct. 19 /PRNewswire/ -- Magna Group, Inc. (NASDAQ: MAGI),


a St. Louis-based bank holding company, today reported net income of $9.3 million or 41 cents per share (fully diluted) for the three months ended Sept. 30, 1992.
 For the first nine months of the year, net income was $22.0 million, or $1.05 per share. The third quarter of 1992 included an extraordinary charge to earnings of $.8 million or 4 cents per share related to debt that was prepaid in August 1992. Income tax expense for the third quarter of 1992 was reduced by $2.0 million, or 9 cents per share, in connection with the conclusion of tax return examinations during the quarter.
 Solid Core Results
 "Our post-acquisition consolidation and asset quality programs continue to generate positive results. Magna's third quarter earnings demonstrate our solid core operations and the benefits of improved asset quality. Reduced interest expense on deposits and holding company debt, as well as lower non-performing assets for the full quarter, contributed to a higher net interest margin, even though interest income was reduced by the decrease in the prime rate and a lower volume of loans," stated William S. Badgley, chairman of the board and chief executive officer. "The net interest margin returned to 4.51 percent in the third quarter compared with 4.51 percent in the third quarter last year, and has shown steady increases during 1992, from 4.33 percent and 4.43 percent in the first and second quarters, respectively."
 Third quarter net income was $9.3 million, or 41 cents per common share, compared with $3.4 million, or 25 cents per share, in the third quarter of 1991. Net interest income was $37.2 million compared with $21.8 million; the provision for loan losses was $5.2 million compared with $4.2 million; total non-interest income was $10.1 million compared with $5.6 million; and total non-interest expense was $31.6 million compared with $19.2 million.
 The annualized return on assets for the third quarter, excluding the extraordinary charge and the one-time tax benefit, was .88 percent compared with .60 percent for the same period last year.
 For the nine months ended Sept. 30, 1992, net income was $22.0 million, or $1.05 per share, which includes $1.9 million, or 9 cents per share, related to the adoption of Financial Accounting Standard 109 in the first quarter of 1992. This compares with net income of $10.3 million, or 75 cents per share, for the same period in 1991. Net interest income was $109.3 million compared with $66.9 million; the provision for loan losses was $16.5 million compared with $13.8 million; total non-interest income was $28.6 million compared with $16.4 million; and total non-interest expense was $98.1 million compared with $57.8 million.
 The net interest margin for the first nine months of 1992 was 4.43 percent compared with 4.57 percent for the same period last year, and the annualized return on assets rose to .79 percent from .60 percent.
 Operating results in 1992 include the acquisition of Landmark Bancshares Corporation in December 1991. The acquisition and the sale of 4.6 million shares of common stock in August 1992 increased average shares outstanding for the third quarter and first nine months of 1992 to 23.1 million and 21.4 million, respectively, compared with 14.6 million for the same periods in 1991.
 Asset Quality Improvements Maintained
 Non-performing assets were $76.7 million at Sept. 30, 1992 compared with $76.9 million at June 30, 1992, and $125.8 million at Dec. 31, 1991. Because of a decrease in loan volume, the non-performing assets ratio increased to 3.32 percent at Sept. 30, 1992 from 3.23 percent at June 30, 1992. The reserve for loan losses at the end of the third quarter was $41.6 million, or 65 percent of non-performing loans, compared with $43.8 million, or 69 percent, at the end of the second quarter.
 "We have maintained the 39 percent reduction in non-performing assets that we achieved through the first six months of the year, and we are very encouraged by the fact that loans past due less than 90 days have decreased $10 million from June 30, 1992 through the end of the third quarter," Badgley noted.
 The level of non-performing assets was essentially unchanged from the end of the second quarter, with a $1.5 million reduction in foreclosed property off-setting a $1.2 million increase in non- performing loans.
 Stock Sale Improves Capital Ratios
 Magna completed a public offering of 4.6 million shares of common stock at $13.50 per share in August 1992. Net proceeds to the company from the offering were $59.8 million, of which $41 million were used to prepay long-term debt. The remaining net proceeds were invested in short-term obligations and used for general corporate purposes.
 The equity offering contributed to the improvement in Magna's leverage ratio from 6.17 percent at June 30, 1992 to 8.06 percent at Sept. 30, 1992, which exceeds Magna's pre-acquisition levels. The prepayment of debt and increase in capital lowered Magna's debt-to- equity ratio to 11.13 percent at Sept. 30, 1992 from 29.96 percent at June 30, 1992.
 Balance Sheet Totals
 At Sept. 30, 1992, total assets were $3.67 billion compared with $3.72 billion at June 30, 1992; loans were $2.30 billion compared with $2.37 billion; deposits were $3.18 billion compared with $3.27 billion. Approximately $24 million of the decrease in loans was attributable to Magna's sale of its asset-based lending portfolio which was completed on Sept. 1, 1992.
 Stockholders' equity increased to $320 million at Sept. 30, 1992 from $256 million at June 30, 1992, and book value per common share was $13.22 compared with $13.02.
 Magna Group, Inc. operates 86 community banking locations in Illinois and Missouri and is the third-largest bank holding company based in St. Louis, with $3.7 billion in consolidated assets. Within the greater St. Louis metropolitan area, Magna has 62 offices with approximately $2.7 billion in assets. Magna also operates 11 banking locations in Southern Missouri and Kansas City, Missouri which are reported as net assets held for sale.
 MAGNA GROUP, INC.
 COMPARATIVE SELECTED FINANCIAL DATA
 ($'s in thousands, except per share data)
 Three Months Ended Sept. 30
 Pct.
 INCOME STATEMENT DATA 1992 1991 Change
 Net Interest Income $37,162 $21,832 70.2
 Provision for Loan Losses 5,158 4,214 22.4
 Securities Transactions 836 49 1,606.1
 Non-interest Income 9,259 5,529 67.5
 Non-interest Expense 31,643 19,205 64.8
 Income Tax Expense 281 579 (51.5)
 Income Before Extrd Item
 and Change in Acct
 Principle 10,175 3,412 198.2
 Extrd Item Less Applc Tax (830) - NM
 Effect of Change in
 Acct Principle - - -
 Net Income 9,345 3,412 173.9
 COMMON SHARES
 Period End Primary 24,071 13,479 78.6
 Average Fully Diluted 23,138 14,571 58.8
 PER COMMON SHARE
 Fully Diluted Net Income $.41 $.25 64.0
 Book Value 13.22 13.98 (5.4)
 Tangible Book Value 12.83 13.25 (3.2)
 Dividends .17 .17 -
 BALANCE SHEET DATA - END OF PERIOD
 Total Assets $3,669,350 $2,269,162 61.7
 Loans, Net of Unearned
 Income 2,296,670 1,418,391 61.9
 Total Earning Assets 3,368,663 2,079,275 62.0
 Reserve for Loan Losses 41,624 18,278 127.7
 Total Deposits 3,178,260 1,960,793 62.1
 Total Debt 35,633 24,659 44.5
 Stockholders' Equity 320,247 188,387 70.0
 Total Non-performing Loans 64,378 41,833 53.9
 Foreclosed Property 12,278 6,795 80.7
 Total Non-performing Assets 76,656 48,628 57.6
 RATIO ANALYSIS
 Net Interest Margin (Pct) 4.51 4.51
 Non-interest Expense as pct.
 of Average Assets (A) 3.33 3.31
 Net Non-interest Expense as
 pct.of Average Assets (B) 2.34 2.34
 Return on Average Assets 1.00 .60
 Return on Average Total
 Stockholders' Equity 12.89 7.22
 Non-performing Loan
 Ratio (C) 2.80 2.95
 Non-performing Asset
 Ratio (D) 3.32 3.41
 Loan Reserve as percent of
 Non-performing loans 64.66 43.69
 Net Loan Charge-offs as pct.
 of Average Loans (E) 1.09 .89
 Reserve for Loan Losses
 as percent of Loans 1.81 1.29
 Leverage Ratio 8.06 7.90
 Nine Months Ended Sept. 30
 Pct.
 INCOME STATEMENT DATA 1992 1991 Change
 Net Interest Income $109,281 $66,890 63.4
 Provision for Loan Losses 16,498 13,781 19.7
 Securities Transactions 1,071 203 427.6
 Non-interest Income 27,571 16,227 69.9
 Non-interest Expense 98,097 57,812 69.7
 Income Tax Expense 2,440 1,453 67.9
 Income Before Extrd Item
 and Change in Acct
 Principle 20,888 10,274 103.3
 Extrd Item Less Applc Tax (830) - NM
 Effect of Change in
 Acct Principle 1,915 - NM
 Net Income 21,973 10,274 113.9
 COMMON SHARES
 Period End Primary 24,071 13,479 78.6
 Average Fully Diluted 21,387 14,575 46.7
 PER COMMON SHARE
 Fully Diluted Net Income $1.05 $.75
 Book Value 13.22 13.98
 Tangible Book Value 12.83 13.25
 Dividends .51 .51 -
 RATIO ANALYSIS
 Net Interest Margin (Pct) 4.43 4.57
 Non-interest Expense as pct.
 of Average Assets (A) 3.43 3.35
 Net Non-interest Expense as
 pct.of Average Assets (B) 2.44 2.39
 Return on Average Assets .79 .60
 Return on Average Total
 Stockholders' Equity 11.10 7.31
 Non-performing Loan
 Ratio (C) 2.80 2.95
 Non-performing Asset
 Ratio (D) 3.32 3.41
 Loan Reserve as percent of
 Non-performing loans 64.66 43.69
 Net Loan Charge-offs as pct.
 of Average Loans (E) 1.68 1.13
 Reserve for Loan Losses
 as percent of Loans 1.81 1.29
 Leverage Ratio 8.06 7.90
 (A) Excludes foreclosed property expense.
 (B) Excludes securities transactions and foreclosed property expense.
 (C) Non-accrual loans, 90+ days past due loans and restructured loans to total loans.
 (D) Non-performing loans plus foreclosed property to total loans plus foreclosed property.
 (E) Net loan charge-offs annualized.
 NM - Not meaningful.
 1991
 First Second
 INCOME STATEMENT DATA Quarter Quarter
 Total Interest Income $51,850 $50,229
 Total Interest Expense 29,415 27,606
 Net Interest Income 22,435 22,623
 Provision for Loan Losses 6,449 3,118
 Securities Transactions 23 131
 Non-interest Income 5,280 5,418
 Total Operating Expense 19,023 19,080
 Foreclosed Property Expense 228 276
 Income (Loss) Bef Income Taxes 2,038 5,698
 Income Tax Expense (Benefit) (200) 1,074
 Income (Loss) Before Extrd Item
 and Change in Acct Principle 2,238 4,624
 Extrd Item Less Applicable Tax - -
 Effect of Change in Acct Prin - -
 Net Income (Loss) 2,238 4,624
 Net Income (Loss) Applicable to
 Common Shares $2,238 $4,624
 COMMON SHARES
 Period End Primary 13,479 13,479
 Average Fully Diluted 14,578 14,576
 PER COMMON SHARE
 Primary Net Income (Loss) $.17 $.34
 Fully Diluted Net Income (Loss) .17 .33
 Book Value 13.84 14.00
 Tangible Book Value 13.07 13.25
 Dividends .17 .17
 BALANCE SHEET DATA - END OF PERIOD
 Total Assets $2,260,883 $2,281,992
 Loans, Net of Unearned Income 1,446,087 1,429,574
 Securities 603,829 612,169
 Total Earning Assets 2,079,491 2,074,568
 Total Deposits 1,948,948 1,979,437
 Common Stockholders' Equity 186,530 188,757
 Preferred Stockholders' Equity - -
 Total Stockholders' Equity 186,530 188,757
 Short-term Debt - -
 Long-term Debt 24,855 24,700
 Total Debt 24,855 24,700
 Reserve for Loan Losses:
 Beginning Balance 16,673 20,109
 Institutions Acquired (Sold) - -
 Provision for Loan Losses 6,449 3,118
 Loan Charge-offs (3,454) (6,485)
 Loan Recoveries 441 536
 Net Loan Charge-offs (3,013) (5,949)
 Ending Balance 20,109 17,278
 Non-performing Assets:
 Non-accrual Loans 23,602 22,088
 90+ Days Past Due Loans 10,083 9,193
 Restructured Loans 4,593 5,579
 Total Non-performing Loans 38,278 36,860
 Foreclosed Property 7,376 6,120
 Total Non-performing Assets 45,654 42,980
 RATIO ANALYSIS
 Net Interest Margin (Pct.) 4.55 4.66
 Non-interest Expense as percent
 of Avg. Assets (A) 3.34 3.37
 Net Non-interest Expense as
 percent of Avg. Assets (B) 2.41 2.42
 Return on Average Assets .39 .82
 Return on Average Total
 Stockholders' Equity 4.80 9.89
 Non-performing Loan Ratio (C) 2.65 2.58
 Non-performing Asset Ratio (D) 3.14 2.99
 Loan Reserve as percent of
 Non-performing Loans 52.53 46.87
 Net Loan Charge-offs as percent
 of Average Loans (E) .84 1.66
 Reserve for Loan Losses as a
 percent of Loans 1.39 1.21
 Stockholders' Equity as a
 percent of Assets 8.25 8.27
 Leverage Ratio 7.83 7.86
 Total Debt as a percent of
 Stockholders' Equity 13.32 13.09
 Effective Income Tax Rate -9.81 18.85
 1991
 Third Fourth
 INCOME STATEMENT DATA Quarter Quarter
 Total Interest Income $48,680 $46,955
 Total Interest Expense 26,848 24,758
 Net Interest Income 21,832 22,197
 Provision for Loan Losses 4,214 15,687
 Securities Transactions 49 558
 Non-interest Income 5,529 4,948
 Total Operating Expense 18,799 20,102
 Foreclosed Property Expense 406 213
 Income (Loss) Bef Income Taxes 3,991 (8,299)
 Income Tax Expense (Benefit) 579 (1,863)
 Income (Loss) Before Extrd Item
 and Change in Acct Principle 3,412 (6,436)
 Extrd Item Less Applicable Tax - -
 Effect of Change in Acct Prin - -
 Net Income (Loss) 3,412 (6,436)
 Net Income (Loss) Applicable
 to Common Shares $3,412 ($6,436)
 COMMON SHARES
 Period End Primary 13,479 19,471
 Average Fully Diluted 14,571 14,184
 PER COMMON SHARE
 Primary Net Income (Loss) $.25 ($.45)
 Fully Diluted Net Income (Loss) .25 (.45)
 Book Value 13.98 12.72
 Tangible Book Value 13.25 11.60
 Dividends .17 .17
 BALANCE SHEET DATA - END OF PERIOD
 Total Assets $2,269,162 $3,777,304
 Loans, Net of Unearned Income 1,418,391 2,467,662
 Securities 603,904 932,670
 Total Earning Assets 2,079,275 3,465,644
 Total Deposits 1,960,793 3,334,623
 Common Stockholders' Equity 188,387 247,631
 Preferred Stockholders' Equity - 2,009
 Total Stockholders' Equity 188,387 249,640
 Short-term Debt - 41,785
 Long-term Debt 24,659 35,932
 Total Debt 24,659 77,717
 Reserve for Loan Losses:
 Beginning Balance 17,278 18,278
 Institutions Acquired (Sold) - 27,528
 Provision for Loan Losses 4,214 15,687
 Loan Charge-offs (3,634) (6,137)
 Loan Recoveries 420 620
 Net Loan Charge-offs (3,214) (5,517)
 Ending Balance 18,278 55,976
 Non-performing Assets:
 Non-accrual Loans 26,960 58,053
 90+ Days Past Due Loans 10,010 31,029
 Restructured Loans 4,863 6,202
 Total Non-performing Loans 41,833 95,284
 Foreclosed Property 6,795 30,482
 Total Non-performing Assets 48,628 125,766
 RATIO ANALYSIS
 Net Interest Margin (Pct.) 4.51 4.52
 Non-interest Expense as percent
 of Avg. Assets (A) 3.31 3.64
 Net Non-interest Expense as
 percent of Avg. Assets (B) 2.34 2.74
 Return on Average Assets .60 -1.17
 Return on Average Total
 Stockholders' Equity 7.22 -13.59
 Non-performing Loan Ratio (C) 2.95 3.86
 Non-performing Asset Ratio (D) 3.41 5.03
 Loan Reserve as percent of
 Non-performing Loans 43.69 58.75
 Net Loan Charge-offs as percent
 of Average Loans (E) .89 1.55
 Reserve for Loan Losses as a
 percent of Loans 1.29 2.27
 Stockholders' Equity as a
 percent of Assets 8.30 6.61
 Leverage Ratio 7.90 6.07
 Total Debt as a percent of
 Stockholders' Equity 13.09 31.13
 Effective Income Tax Rate 14.51 -22.45
 1992
 First Second
 INCOME STATEMENT DATA Quarter Quarter
 Total Interest Income $72,043 $69,811
 Total Interest Expense 36,322 33,413
 Net Interest Income 35,721 36,398
 Provision for Loan Losses 6,881 4,459
 Securities Transactions - 235
 Non-interest Income 9,167 9,145
 Total Operating Expense 32,908 31,556
 Foreclosed Property Expense 1,274 716
 Income (Loss) Bef Income Taxes 3,825 9,047
 Income Tax Expense (Benefit) 166 1,993
 Income (Loss) Before Extrd Item
 and Change in Acct Principle 3,659 7,054
 Extrd Item Less Applicable Tax - -
 Effect of Change in Acct Prin 1,915 -
 Net Income (Loss) 5,574 7,054
 Net Income (Loss) Applicable
 to Common Shares $5,539 $7,018
 COMMON SHARES
 Period End Primary 19,471 19,471
 Average Fully Diluted 20,540 20,541
 PER COMMON SHARE
 Primary Net Income (Loss) $.28 $.36
 Fully Diluted Net Income (Loss) .28 .35
 Book Value 12.83 13.02
 Tangible Book Value 12.31 12.45
 Dividends .17 .17
 BALANCE SHEET DATA - END OF PERIOD
 Total Assets $3,737,882 $3,716,936
 Loans, Net of Unearned Income 2,406,689 2,366,169
 Securities 965,235 1,010,211
 Total Earning Assets 3,437,470 3,411,549
 Total Deposits 3,284,026 3,271,195
 Common Stockholders' Equity 249,860 253,569
 Preferred Stockholders' Equity 2,009 2,009
 Total Stockholders' Equity 251,869 255,578
 Short-term Debt - -
 Long-term Debt 76,590 76,577
 Total Debt 76,590 76,577
 Reserve for Loan Losses:
 Beginning Balance 55,976 47,637
 Institutions Acquired (Sold) - -
 Provision for Loan Losses 6,881 4,459
 Loan Charge-offs (16,189) (9,033)
 Loan Recoveries 969 732
 Net Loan Charge-offs (15,220) (8,301)
 Ending Balance 47,637 43,795
 Non-performing Assets:
 Non-accrual Loans 50,429 48,765
 90+ Days Past Due Loans 17,179 12,045
 Restructured Loans 2,701 2,345
 Total Non-performing Loans 70,309 63,155
 Foreclosed Property 17,905 13,793
 Total Non-performing Assets 88,214 76,948
 RATIO ANALYSIS
 Net Interest Margin (Pct.) 4.33 4.43
 Non-interest Expense as percent
 of Avg. Assets (A) 3.52 3.42
 Net Non-interest Expense as
 percent of Avg. Assets (B) 2.54 2.43
 Return on Average Assets .60 .76
 Return on Average Total
 Stockholders' Equity 8.85 11.24
 Non-performing Loan Ratio (C) 2.92 2.67
 Non-performing Asset Ratio (D) 3.64 3.23
 Loan Reserve as percent of
 Non-performing Loans 67.75 69.35
 Net Loan Charge-offs as percent
 of Average Loans (E) 2.50 1.40
 Reserve for Loan Losses as a
 percent of Loans 1.98 1.85
 Stockholders' Equity as a
 percent of Assets 6.74 6.88
 Leverage Ratio 6.08 6.17
 Total Debt as a percent of
 Stockholders' Equity 30.41 29.96
 Effective Income Tax Rate 4.34 22.03
 1992
 Third
 INCOME STATEMENT DATA Quarter
 Total Interest Income $67,619
 Total Interest Expense 30,457
 Net Interest Income 37,162
 Provision for Loan Losses 5,158
 Securities Transactions 836
 Non-interest Income 9,259
 Total Operating Expense 31,104
 Foreclosed Property Expense 539
 Income (Loss) Bef Income Taxes 10,456
 Income Tax Expense (Benefit) 281
 Income (Loss) Before Extrd Item
 and Change in Acct Principle 10,175
 Extrd Item Less Applicable Tax (830)
 Effect of Change in Acct Prin -
 Net Income (Loss) 9,345
 Net Income (Loss) Applicable
 to Common Shares $9,310
 COMMON SHARES
 Period End Primary 24,071
 Average Fully Diluted 23,138
 PER COMMON SHARE
 Primary Net Income (Loss) $.42
 Fully Diluted Net Income (Loss) .41
 Book Value 13.22
 Tangible Book Value 12.83
 Dividends .17
 BALANCE SHEET DATA - END OF PERIOD
 Total Assets $3,669,350
 Loans, Net of Unearned Income 2,296,670
 Securities 1,056,228
 Total Earning Assets 3,368,663
 Total Deposits 3,178,260
 Common Stockholders' Equity 318,238
 Preferred Stockholders' Equity 2,009
 Total Stockholders' Equity 320,247
 Short-term Debt -
 Long-term Debt 35,633
 Total Debt 35,633
 Reserve for Loan Losses:
 Beginning Balance 43,795
 Institutions Acquired (Sold) (900)
 Provision for Loan Losses 5,158
 Loan Charge-offs (7,337)
 Loan Recoveries 908
 Net Loan Charge-offs (6,429)
 Ending Balance 41,624
 Non-performing Assets:
 Non-accrual Loans 50,596
 90+ Days Past Due Loans 12,598
 Restructured Loans 1,184
 Total Non-performing Loans 64,378
 Foreclosed Property 12,278
 Total Non-performing Assets 76,656
 RATIO ANALYSIS
 Net Interest Margin (Pct.) 4.51
 Non-interest Expense as percent
 of Avg. Assets (A) 3.33
 Net Non-interest Expense as
 percent of Avg. Assets (B) 2.34
 Return on Average Assets 1.00
 Return on Average Total
 Stockholders' Equity 12.89
 Non-performing Loan Ratio (C) 2.80
 Non-performing Asset Ratio (D) 3.32
 Loan Reserve as percent of
 Non-performing Loans 64.66
 Net Loan Charge-offs as percent
 of Average Loans (E) 1.09
 Reserve for Loan Losses as a
 percent of Loans 1.81
 Stockholders' Equity as a
 percent of Assets 8.73
 Leverage Ratio 8.06
 Total Debt as a percent of
 Stockholders' Equity 11.13
 Effective Income Tax Rate 2.69
 First Nine Months
 INCOME STATEMENT DATA 1992 1991
 Total Interest Income $209,473 $150,759
 Total Interest Expense 100,192 83,869
 Net Interest Income 109,281 66,890
 Provision for Loan Losses 16,498 13,781
 Securities Transactions 1,071 203
 Non-interest Income 27,571 16,227
 Total Operating Expense 95,568 56,902
 Foreclosed Property Expense 2,529 910
 Income (Loss) Bef Income Taxes 23,328 11,727
 Income Tax Expense (Benefit) 2,440 1,453
 Income (Loss) Before Extrd Item
 and Change in Acct Principle 20,888 10,274
 Extrd Item Less Applicable Tax (830) 0
 Effect of Change in Acct Prin 1,915 0
 Net Income (Loss) 21,973 10,274
 Net Income (Loss) Applicable
 to Common Shares $21,867 $10,274
 COMMON SHARES
 Period End Primary 24,071 13,479
 Average Fully Diluted 21,387 14,575
 PER COMMON SHARE
 Primary Net Income (Loss) $1.07 $.76
 Fully Diluted Net Income (Loss) 1.05 .75
 Book Value 13.22 13.98
 Tangible Book Value 12.83 13.25
 Dividends .51 .51
 BALANCE SHEET DATA - END OF PERIOD
 Reserve for Loan Losses:
 Beginning Balance 55,976 16,673
 Institutions Acquired (Sold) (900) -
 Provision for Loan Losses 16,498 13,781
 Loan Charge-offs (32,559) (13,573)
 Loan Recoveries 2,609 1,397
 Net Loan Charge-offs (29,950) (12,176)
 Ending Balance 41,624 18,278
 RATIO ANALYSIS
 Net Interest Margin (Pct.) 4.43 4.57
 Non-interest Expense as percent
 of Avg. Assets (A) 3.43 3.35
 Net Non-interest Expense as
 percent of Avg. Assets (B) 2.44 2.39
 Return on Average Assets .79 .60
 Return on Average Total
 Stockholders' Equity 11.10 7.31
 Non-performing Loan Ratio (C) 2.80 2.95
 Non-performing Asset Ratio (D) 3.32 3.41
 Loan Reserve as percent of
 Non-performing Loans 64.66 43.69
 Net Loan Charge-offs as percent
 of Average Loans (E) 1.68 1.13
 Reserve for Loan Losses as a
 percent of Loans 1.81 1.29
 Stockholders' Equity as a
 percent of Assets 8.73 8.30
 Leverage Ratio 8.06 7.90
 Total Debt as a percent of
 Stockholders' Equity 11.13 13.09
 Effective Income Tax Rate 10.46 12.39
 First Nine Months
 Change
 INCOME STATEMENT DATA Amount Percent
 Total Interest Income $58,714 38.9
 Total Interest Expense 16,323 19.5
 Net Interest Income 42,391 63.4
 Provision for Loan Losses 2,717 19.7
 Securities Transactions 868 427.6
 Non-interest Income 11,344 69.9
 Total Operating Expense 38,666 68.0
 Foreclosed Property Expense 1,619 177.9
 Income (Loss) Before 11,601 98.9
 Income Tax Expense (Benefit) 987 67.9
 Income (Loss) Before Extrd Item
 and Change in Acct Principle 10,614 103.3
 Extrd Item Less Applicable Tax (830) NM
 Effect of Change in Acct Prin 1,915 NM
 Net Income (Loss) 11,699 113.9
 Net Income (Loss) Applicable
 to Common Shares $11,593 112.8
 COMMON SHARES
 Period End Primary 10,592 78.6
 Average Fully Diluted 6,812 46.7
 PER COMMON SHARE
 Primary Net Income (Loss) $.31 40.8
 Fully Diluted Net Income (Loss) .30 40.0
 Book Value (.76) (5.4)
 Tangible Book Value (.42) (3.2)
 Dividends - -
 (A) Excludes foreclosed property expense.
 (B) Excludes securities transactions and foreclosed property expense.
 (C) Non-accrual loans, 90+ days past due loans and restructured loans to total loans.
 (D) Non-performing loans plus foreclosed property to total loans plus foreclosed property.
 (E) Net loan charge-offs annualized.
 NM-Not meaningful.
 LOAN PORTFOLIO MIX AND
 NON-PERFORMING ASSET ANALYSIS
 Sept. 30, 1992
 Loans and Percent
 Foreclosed of
 Property Total
 LOANS:
 Commercial,
 financial and
 agricultural $435,934 18.88
 Real estate:
 Construction 87,198 3.78
 Commercial 801,207 34.70
 Residential 663,048 28.72
 Total real estate 1,551,453 67.20
 Consumer 309,283 13.39
 Restructured loans N/A N/A
 Total loans 2,296,670 99.47
 FORECLOSED PROPERTY 12,278 0.53
 Total 2,308,948 100.00
 Nonper- Percent
 forming of
 Assets Total
 LOANS:
 Commercial,
 financial and
 agricultural $12,487 16.29
 Real estate:
 Construction 7,403 9.66
 Commercial 29,978 39.11
 Residential 10,296 13.43
 Total real estate 47,677 62.20
 Consumer 3,030 3.95
 Restructured loans 1,184 1.54
 Total loans 64,378 83.98
 FORECLOSED PROPERTY 12,278 16.02
 Total 76,656 100.00
 FINANCIAL HIGHLIGHTS
 Third Quarter 1992
 Less Without
 As Special Special
 Reported Items Items
 Net interest income $37,162 $37,162
 Provision for loan losses 5,158 5,158
 Non-interest income 10,095 10,095
 Non-interest expense 31,643 31,643
 Income tax expense 281 2,000 (A) 2,281
 Income before extrd item 10,175 (2,000) 8,175
 Extrd item less appl tax (830) 830 (B) 0
 Net income 9,345 (1,170) 8,175
 Fully diluted EPS .41 (.05) .36
 Annualized ROA (Pct.) 1.00 .88
 (A) From one-time tax benefit.
 (B) From debt extinguishment.
 -0- 10/19/92
 /CONTACT: Mary Scholz of Magna Group, 314-963-2545/
 (MAGI) CO: Magna Group, Inc. ST: Missouri IN: FIN SU: ERN


PS -- NY009 -- 1356 10/19/92 08:38 EDT
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Publication:PR Newswire
Date:Oct 19, 1992
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