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 | % |