Exhibit 99.2
Pennsylvania Commerce Bancorp, Inc.
Selected Consolidated Financial Data
(Unaudited)
| | At or for the | |
| | Three Months Ended | |
| | March 31, | |
(in thousands, except per share amounts) | | 2006 | | 2005 | | % Change | |
| | | | | | | |
Income Statement Data: | | | | | | | | | | |
Net interest income | | $ | 13,197 | | $ | 12,158 | | | 9 | % |
Provision for loan losses | | | 475 | | | 545 | | | (13 | )% |
Noninterest income | | | 4,258 | | | 3,206 | | | 33 | % |
Total Revenues | | | 17,455 | | | 15,364 | | | 14 | % |
Noninterest operating expenses | | | 13,925 | | | 11,147 | | | 25 | % |
Net income | | | 2,037 | | | 2,461 | | | (17 | )% |
| | | | | | | | | | |
Per Common Share Data: | | | | | | | | | | |
Net income: Basic | | $ | 0.33 | | $ | 0.41 | | | (20 | )% |
Net income: Diluted | | | 0.32 | | | 0.39 | | | (18 | )% |
| | | | | | | | | | |
Book Value | | $ | 15.09 | | $ | 14.31 | | + | 5 | % |
| | | | | | | | | | |
Weighted average shares outstanding: | | | | | | | | | | |
Basic | | | 6,054 | | | 5,902 | | | | |
Diluted | | | 6,376 | | | 6,319 | | | | |
| | | | | | | | | | |
Balance Sheet Data: | | | | | | | | | | |
Total assets | | $ | 1,752,757 | | $ | 1,377,180 | | | 27 | % |
Loans (net) | | | 868,534 | | | 681,075 | | + | 28 | % |
Allowance for loan losses | | | 9,656 | | | 8,352 | | | 16 | % |
Investment Securities | | | 733,185 | | | 589,533 | | | 24 | % |
Total deposits | | | 1,448,126 | | | 1,172,923 | | | 23 | % |
Core deposits | | | 1,391,329 | | | 1,132,183 | | + | 23 | % |
Stockholders' equity | | | 92,658 | | | 85,790 | | | 8 | % |
| | | | | | | | | | |
Capital: | | | | | | | | | | |
Stockholders' equity to total assets | | | 5.29 | % | | 6.23 | % | | | |
Leverage Ratio | | | 6.59 | | | 7.88 | | | | |
Risk based capital ratios: | | | | | | | | | | |
Tier 1 | | | 9.35 | | | 11.19 | | | | |
Total Capital | | | 10.15 | | | 12.12 | | | | |
| | | | | | | | | | |
Performance Ratios: | | | | | | | | | | |
Cost of funds | | | 2.84 | % | | 1.70 | % | | | |
Deposit Cost of Funds | | | 2.14 | | | 1.46 | | | | |
Net interest margin | | | 3.39 | | | 4.11 | | | | |
Return on average assets | | | 0.49 | | | 0.78 | | | | |
Return on average total stockholders' equity | | | 8.92 | | | 11.69 | | | | |
| | | | | | | | | | |
Asset Quality: | | | | | | | | | | |
Net charge-offs to average loans outstanding | | | 0.01 | % | | 0.01 | % | | | |
Nonperforming assets to total period-end assets | | | 0.20 | | | 0.14 | | | | |
Allowance for loan losses to total period-end loans | | | 1.10 | | | 1.21 | | | | |
Allowance for loan losses to nonperforming loans | | | 304 | | | 549 | | | | |
Nonperforming assets to capital and reserves | | | 3 | % | | 2 | % | | | |