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NATIONAL COMMUNITY BANKS, INC. REPORTS FIRST QUARTER EARNINGS

 WEST PATERSON, N.J., April 21 /PRNewswire/ -- National Community Banks, Inc. (NASDAQ: NCBR), today reported that earnings for the first quarter of 1993 were $8.516 million, an increase of $3.761 million or 79 percent over net income of $4.755 million for the first quarter of 1992. On a fully diluted basis, earnings per share were $0.71 for the first quarter of 1993, an increase of 58 percent over the $0.45 for the first quarter of 1992.
 Robert M. Kossick, chairman of the board and chief executive officer, stated, "The improvement in our first quarter results reflect reduced costs related to lower levels of non-performing assets, decreased provisions to the allowance for loan and lease losses, and increased levels of core earnings."
 Mr. Kossick stated further that "NCBR's ability to increase core earnings resulted from a favorable cost of funds and growth in the bank's low cost core deposit base. These factors contributed to a first quarter 1993 net interest margin of 5.13 percent. Growth in service fee income and continued efforts to control non-interest expense also supported our performance."
 Total assets at March 31, 1993, were $4.018 billion as compared with $3.925 billion at the end of the first quarter of 1992. When compared to one year ago, deposits increased 2 percent to $3.654 billion while loans decreased 8 percent to $2.189 billion.
 Non-performing loans, consisting of loans on which interest is not currently being accrued and renegotiated loans, declined to $66.341 million at March 31, 1993, from $86.659 million one year ago. Non- performing assets, which include non-performing loans, in-substance foreclosures, and other real estate owned, totaled $116.376 million at March 31, 1993, vs. $184.707 million at March 31, 1992, representing a decrease of $68.331 million or 37 percent. Net-charge offs for the first quarter of 1993 were $0.644 million as compared with $3.478 million for the first quarter of 1992.
 The provision for the Allowance for Loan and Lease Losses (ALLL) amounted to $3.5 million for the first quarter of 1993 as compared with $6.0 million for the same period one year ago. At March 31, 1993, the ALLL stood at $71.929 million vs. $78.369 million one year ago and represented 108 percent of non-performing loans and 3.29 percent of total loans vs. 90 percent and 3.30 percent, respectively, at March 31, 1992.
 At March 31, 1993, NCBR's leverage capital ratio of equity capital to average quarterly assets stood at 6.61 percent as compared with 5.61 percent one year ago. Tier I and combined Tier I and Tier II risk adjusted capital ratios were 11.11 percent and 12.38 percent, respectively, at March 31, 1993, and compare with 8.39 percent and 9.67 percent, respectively, one year ago.
 During the first quarter of 1993, the company adopted FASB Statement No. 106 (Employers' Accounting for Postretirement Benefits Other Than Pensions) and FASB Statement No. 109 (Accounting for Income Taxes). The effect of adoption of these accounting principles was insignificant.
 NATIONAL COMMUNITY BANKS, INC.
 Consolidated Financial Highlights
 (Dollars in thousands, except per share amounts)
 Percent
 1993 1992 Change
 QUARTER ENDED MARCH 31
 Net income $8,516 $4,755 79.1
 Per common share:
 Primary earnings per share 0.74 0.45 64.4
 Fully diluted earnings per share 0.71 0.45 57.8
 Cash dividends declared 0.175 0.175 0.0
 Return on average assets 0.84 pct. 0.49 pct.
 Return on average equity 12.94 pct. 8.76 pct.
 Net interest margin 5.13 pct. 5.15 pct.
 AT PERIOD END
 Assets $4,018,267 $3,924,642 2.4
 Loans 2,189,132 2,376,288 -7.9
 Allowance for possible loan losses 71,929 78,369 -8.2
 Investment securities 1,257,234 818,243 53.7
 Deposits 3,654,440 3,581,497 2.0
 Demand deposits 1,142,509 1,062,972 7.5
 Core deposits 3,570,079 3,451,556 3.4
 Shareholders' equity 267,586 218,521 22.5
 Book value per common share 22.41 20.81 7.7
 Leverage capital ratio 6.61 pct. 5.61 pct.
 Tier 1 capital to risk-adjusted
 assets 11.11 pct. 8.39 pct.
 Combined Tier 1 and Tier 2 capital
 to risk-adjusted assets 12.38 pct. 9.67 pct.
 ASSET QUALITY
 Non-performing loans $ 66,341 $ 86,659 -23.4
 Delinquent loans (30 days and over) 95,113 173,459 -45.2
 Allowance for possible loan losses
 as a percent of:
 Loans at period-end 3.29 pct. 3.30 pct.
 Non-performing loans 108.42 pct. 90.43 pct.
 Net charge-offs as a percent
 of average loans 0.12 pct. 0.58 pct.
 Other real estate $ 50,035 $ 98,048 -49.0
 Non-performing assets 116,376 184,707 -37.0
 -0- 4/21/93
 /CONTACT: Anthony J. Franchina (financial), executive vice president and treasurer, 201-367-7106, or Arthur C. Ramirez (media), first senior vice president, 201-357-7109, both of NCBR/
 (NCBR)


CO: National Community Banks, Inc. ST: New Jersey IN: FIN SU: ERN

GK-WB -- NY078 -- 8831 04/21/93 14:19 EDT
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Date:Apr 21, 1993
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