Exhibit 99.1
[Logo of Allegiant Bancorp, Inc.]
NEWS EDITOR: for further information on this
news release, please contact Shaun R. Hayes,
President and CEO or Jeffrey S. Schatz,
Executive VP and CFO/COO at (314) 692-8800.
For Immediate Release:
ALLEGIANT BANCORP, INC. REPORTS NET INCOME INCREASED 7% IN 2003
ST. LOUIS, MO - January 21, 2004 - Allegiant Bancorp, Inc. (Nasdaq: ALLE; www.allegiantbank.com), the largest bank holding company exclusively serving the St. Louis, Missouri metropolitan area, today reported that its net income for 2003 totaled $22.9 million, an increase of 7% from the $21.4 million reported for the year ended December 31, 2002. Diluted earnings per share for the year were $1.32 compared to $1.33 in 2002. Diluted earnings per share in 2003 reflected the impact of 2.1 million shares of common stock issued in our secondary public stock offering in April 2003, partially offset by 974,150 shares of treasury stock acquired in connection with the divestiture of our former Ste. Genevieve bank in March 2003. Net income for the three months ended December 31, 2003 totaled $5.0 million compared to $5.7 million for the three months ended December 31, 2002. Diluted earnings per share for the fourth qua rter of 2003 were $0.28 compared to $0.35 in the fourth quarter of 2002. Net income in the fourth quarter of 2003 was reduced by after tax merger-related expenses totaling approximately $568,000 or 3 cents per share.
On November 20, 2003, we announced that we had entered into an Agreement and Plan of Merger with National City Corporation. Under the Merger Agreement and subject to its terms and conditions, Allegiant will be merged with and into National City, with National City being the surviving corporation. In connection with the merger, at the election of the holder, each outstanding share of our common stock will be converted into (1) $27.25 in cash, (2) 0.833 shares of National City common stock, or (3) a combination thereof, subject to reallocation if Allegiant's shareholders elect to receive more than 49% of the aggregate value of the merger consideration in cash. Allegiant currently anticipates the merger will close in late first quarter or early second quarter of 2004.
Net interest income increased 5.2% for the year ended December 31, 2003 compared to 2002. This growth was attributable to a $164.9 million, or 8.1%, increase in average earning assets which primarily resulted from a $199.6 million, or 12.7%, increase in average loans, as loan growth in our market remained strong. As a result of the lower interest rate environment experienced in 2003, our net interest margin decreased slightly in 2003 to 3.10% compared to 3.19% in 2002. The net interest margin for the fourth quarter of 2003 improved to 3.14% from 3.12% for the third quarter this year and 3.05% for the fourth quarter of 2002. Contributing to this improvement was lower cost of funds resulting from maturing higher cost deposits, disciplined loan pricing and a reduction in the premium amortization from mortgage-related securities.
Non-interest income for the twelve months ended December 31, 2003 totaled $26.9 million, representing an increase of 15.4% from $23.3 million in 2002. The growth in non-interest income was primarily attributable to a 17.7% increase in mortgage banking revenues as we reported record levels of loan originations, an increase of 74.1% in fee income from our wealth management business reflecting the acquisition of Allegiant Investment Counselors in the fourth quarter of 2002, coupled with an increase in securities gains of $1.1 million, or 24.7%. In addition, non-interest income in 2003 included gains of approximately $765,000 related to the sale of branch real estate and a favorable claim settlement from a prior acquisition. Non-interest income in 2002 included a $600,000 gain on the sale of a pool of mortgage loans acquired in the Southside acquisition in September 2001. Non-interest income in the fourth quarter of 2003 totaled $6.6 million, a decrease of $1.5 million from the fourth quarter of 2002, primarily due to a $1.4 million decrease in securities gains and lower mortgage banking revenues, partially offset by higher wealth management fees.
Non-interest expense for the twelve months ended December 31, 2003 totaled $53.5 million, representing an increase of 12.2% from $47.7 million in 2002. The increased expenses in 2003 primarily reflected the ongoing expenses related to the acquisition of Allegiant Investment Counselors, increased professional fees associated with the roll-out of our Project 2004 profit improvement and cost containment initiative, increased insurance expense, increased foreclosed property costs and merger-related expenses associated with the pending merger with National City Corporation. In addition, non-interest expense for 2003 reflected increased expense associated with the Company's investment in a community reinvestment fund, higher commissions expense related to mortgage banking activities and a severance charge recognized in the first quarter of 2003. Foreclosed property costs increased $1.3 million in 2003 primarily due to write-downs and ope rating expenses related to two hotel properties. Merger-related expenses totaled $874,000 and consisted primarily of investment banking and other professional fees. Non-interest expense in the fourth quarter of 2003 totaled $14.4 million compared to $13.1 million in the fourth quarter of 2002. This increase was primarily related to the merger-related expenses. Our efficiency ratio was 56.2% for 2003 compared to 54.0% for 2002.
At December 31, 2003, our assets totaled $2.5 billion, a 2.0% increase from December 31, 2002. Total loans increased to $1.8 billion, or 8.0%, reflecting the strong loan growth in our market. Deposits totaled $1.7 billion at December 31, 2003, a decrease of $59.5 million, or 3.4%, from December 31, 2002. The decrease in deposits was primarily due to the March 31, 2003 divestiture of our former Ste. Genevieve bank, which at the time of disposition reported deposits of approximately $93.9 million. The loan to deposit ratio was 107.7% at December 31, 2003 compared to 96.3% at December 31, 2002.
At December 31, 2003, shareholders' equity totaled $198.6 million, an increase of 18.7% from December 31, 2002, reflecting the 2.1 million shares issued in connection with our April 2003 stock offering, partially offset by the cost of 974,150 shares of treasury stock re-acquired in connection with the divestiture of our former Ste. Genevieve bank. Net proceeds from the offering totaled $31.9 million.
As of December 31, 2003, our ratio of non-performing assets to total assets was 0.79% compared to 0.68% at December 31, 2002. At December 31, 2003, our non-performing assets totaled $19.4 million compared to $16.3 million at December 31, 2002.
Net charge-offs for 2003 were 0.42% of average loans outstanding compared to 0.51% of average loans outstanding for the year ended December 31, 2002. The allowance for loan losses totaled $19.7 million at December 31, 2003 compared to $19.6 million at December 31, 2002. The percentage of the allowance for loan losses to total loans was 1.07% at December 31, 2003 compared to 1.15% at December 31, 2002. The loan reserve coverage to non-performing loans was 109.6% at December 31, 2003 compared to 125.1% at December 31, 2002.
The Board of Directors and management of Allegiant understand its responsibility to administer and maintain an adequate system of internal controls. These controls are designed to assist in maintaining a strong policy of corporate governance within the organization including accurate and timely financial reporting. Allegiant's records and systems are subject to external and internal audits with findings reported to the audit committee and the board. In addition, as a bank holding company, Allegiant and its subsidiary banks are subject to regular examinations by the Federal Reserve Board, the Federal Deposit Insurance Corporation and the Division of Finance of the State of Missouri.
Allegiant Bancorp, Inc. is the largest publicly held bank holding company headquartered in the St. Louis, Missouri metropolitan area and the parent company of Allegiant Bank. Allegiant has 36 full-service banking locations, with at least one branch located within a 20-minute drive from all principal sectors of the St. Louis, Missouri metropolitan area. Allegiant focuses on providing banking services to small and mid-sized businesses and individuals by offering a full range of banking services, including mortgage banking, private banking, brokerage services, insurance products and wealth management and other fiduciary services in addition to traditional retail and commercial loan and deposit products.
Certain statements in this release relating to present or future trends or factors affecting the banking industry and, specifically, the operations, markets and products of Allegiant Bancorp, Inc., may be deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Allegiant's actual strategies and results in future periods may differ materially from those currently expected due to various risks and uncertainties. Additional discussion of factors affecting Allegiant's business and prospects is contained in Allegiant's periodic and other filings with the Securities and Exchange Commission. Allegiant undertakes no obligation to report revisions to these forward-looking statements or reflect events or circumstances after the date of this release.
Allegiant Bancorp, Inc.
Unaudited Financial Highlights
| 4Q-03 | 4Q-02 | % change | YTD 03 | YTD 02 | % change |
Operating Results: | (Dollars in thousands except per share data) |
Interest income
Interest expense
Net interest income
Provision for loan losses
Service charges
Mortgage banking revenue
Wealth management fees
Bank-owned life insurance
Net gain on sale of securities
Other non-interest income
Total non-interest income
Salaries and benefits
Occupancy
Equipment
Amortization
Foreclosed property costs
Other non-interest expense
Total non-interest expense
Income before income taxes
Provision for income taxes
Net income
| $ 29,334
11,767
- -------------
17,567
2,584
1,892
757
1,645
189
951
1,158
- -------------
6,592
6,839
1,007
895
295
376
4,963
- -------------
14,375
- --------------
7,200
2,212
- --------------
$ 4,988
======== | $ 30,639
14,283
- -------------
16,356
3,089
1,917
1,166
1,129
422
2,345
1,134
- -------------
8,113
7,298
959
941
271
181
3,400
- -------------
13,050
- --------------
8,330
2,612
- --------------
$ 5,718
======== | (4.3)%
(17.6)
7.4
(16.3)
(1.3)
(35.1)
45.7
(55.2)
(59.4)
2.1
(18.7)
(6.3)
5.0
(4.9)
8.9
107.7
46.0
10.2
(13.6)
(15.3)
(12.8)%
| $ 118,081
49,833
- -------------
68,248
8,274
7,148
5,410
4,705
1,829
5,329
2,480
- -------------
26,901
26,335
4,362
3,398
1,041
2,489
15,840
- -------------
53,465
- --------------
33,410
10,550
- --------------
$ 22,860
======== | $ 123,205
58,307
- -------------
64,898
8,599
7,048
4,595
2,702
1,908
4,272
2,796
- -------------
23,321
25,389
3,862
3,338
1,083
1,236
12,763
- -------------
47,671
- --------------
31,949
10,552
- --------------
$ 21,397
======== | (4.2)%
(14.5)
5.2
(3.8)
1.4
17.7
74.1
(4.1)
24.7
(11.3)
15.4
3.7
12.9
1.8
(3.9)
101.4
24.1
12.2
4.6
- -
6.8% |
Profitability Measures:
Basic earnings per share
Diluted earnings per share
Return on average assets
Return on average equity
Net interest margin
Efficiency ratio |
$ 0.28
$ 0.28
0.82%
10.00%
3.14%
59.50%
|
$ 0.36
$ 0.35
0.98%
13.71%
3.05%
53.33%
|
(22.2)%
(20.0)%
|
$ 1.34
$ 1.32
0.95%
12.11%
3.10%
56.19%
|
$ 1.36
$ 1.33
0.96%
13.88%
3.19%
54.04%
|
(1.5)%
(0.8)%
|
| | | | | | |
Balance Sheet Averages:
Loans
Investment securities
Other earning assets
Total earning assets
Cash and due from banks
Allowance for loan losses
Intangible assets
Other assets
Total assets |
$1,819,943
398,474
4,618
- --------------
2,223,035
53,604
(19,779)
54,927
126,330
- --------------
$2,438,117
========
|
$1,674,771
423,894
31,549
- --------------
2,130,214
41,772
(18,453)
58,380
118,016
- --------------
$2,329,929
========
|
8.7%
(6.0)
(85.4)
4.4
28.3
7.2
(5.9)
7.0
4.6%
|
$1,767,118
417,377
15,914
- --------------
2,200,409
48,619
(19,656)
55,240
119,519
- --------------
$2,404,131
========
|
$1,567,549
451,471
16,475
- --------------
2,035,495
39,283
(18,121)
56,730
118,459
- --------------
$2,231,846
========
|
12.7%
(7.6)
(3.4)
8.1
23.8
8.5
(2.6)
0.9
7.7%
|
Demand deposits
Interest bearing deposits
Borrowings
Other liabilities
Subordinated debentures
Shareholders' equity
Total liabilities and equity
| $ 194,660
1,534,710
442,557
9,392
57,250
199,548
- --------------
$2,438,117
======== | $ 194,464
1,522,340
373,949
15,110
57,250
166,816
- --------------
$2,329,929
======== | 0.1%
0.8
18.3
(37.8)
- -
19.6
4.6% | $ 196,604
1,543,144
405,045
13,319
57,250
188,769
- --------------
$2,404,131
======== | $ 177,813
1,472,312
354,953
15,395
57,250
154,123
- --------------
$2,231,846
======== | 10.6%
4.8
14.1
(13.5)
- -
22.5
7.7%
|
Diluted shares outstanding (average) |
17,817,032
|
16,453,642
|
8.3%
|
17,295,915
|
16,118,047
|
7.3%
|
| 12/31/2003 | 12/31/2002 | % change |
| (Dollars in thousands except per share data) |
YTD Changes in:
Allowance for Loan Losses:
Allowance-Beginning of period
Charge-offs
Recoveries
Divested subsidiary balance
Provision
Allowance - End of period |
$ 19,567
(8,916)
1,549
(756)
8,274
- --------------
$ 19,718
========
|
$ 18,905
(9,109)
1,172
- -
8,599
- --------------
$ 19,567
========
|
3.5%
(2.1)
32.2
- -
(3.8)
0.8%
|
Allowance for loan losses
to total loans
Net charge-offs to average
loans (annualized)
Allowance for loan losses to
non-performing loans |
1.07%
0.42%
109.58%
|
1.15%
0.51%
125.12%
| |
Non-performing Assets:
Past due 90 days or more
Non-accrual
Restructured
Total non-performing loans
Other real estate
Total non-performing assets |
$ 2,260
15,734
- -
- --------------
17,994
1,358
- --------------
$ 19,352
========
|
$ 2,337
12,938
364
- --------------
15,639
611
- --------------
$ 16,250
========
|
(3.3)%
21.6
- -
15.1
122.3
19.1%
|
Non-performing loans to
total loans
Non-performing assets to
total assets |
0.98%
0.79%
|
0.92%
0.68%
| |
Period End Balances:
Commercial loans
Construction loans
1-4 Family mortgage loans
Commercial real estate loans
Consumer loans
Total loans
Investment securities
Other earning assets
Cash and due from banks
Allowance for loan losses
Intangible assets
Other assets
Total assets |
$ 283,790
320,235
327,942
832,134
75,362
- --------------
$1,839,463
366,497
9,230
65,371
(19,718)
54,863
137,124
- --------------
$2,452,830
========
|
$ 314,703
277,018
352,136
695,821
63,231
- --------------
$1,702,909
455,082
45,907
41,890
(19,567)
58,016
120,079
- --------------
$2,404,316
========
|
(9.8)%
15.6
(6.9)
19.6
19.2
8.0
(19.5)
(79.9)
56.1
0.8
(5.4)
14.2
2.0%
|
Demand deposits
Money market and NOW accounts
Savings deposits
Certificates of deposit
Certificates of deposit > $100K
IRA certificates
Brokered deposits
Total deposits
Borrowings
Federal Home Loan advances
Other liabilities
Subordinated debentures
Shareholders' equity
Total liabilities and equity
| $ 193,450
407,928
207,270
549,192
180,431
75,099
95,186
- --------------
$1,708,556
173,897
307,616
6,951
57,250
198,560
- --------------
$2,452,830
======== | $ 215,529
408,261
228,397
570,915
202,086
82,600
60,244
- --------------
$1,768,032
94,882
304,853
12,057
57,250
167,242
- --------------
$2,404,316
======== | (10.2)%
(0.1)
(9.3)
(3.8)
(10.7)
(9.1)
58.0
(3.4)
83.3
0.9
(42.3)
- -
18.7
2.0 % |
| | | |
Shares outstanding | 17,529,229 | 16,146,804 | 8.6% |
Market capitalization | $ 491,695 | $ 294,195 | 67.1% |
Tangible book value per share | $ 8.20 | $ 6.76 | 21.3% |
Book value per share | $ 11.33 | $ 10.36 | 9.4% |
Closing market price per share | $ 28.05 | $ 18.22 | 54.0% |
Allegiant Bancorp, Inc.
Unaudited Financial Highlights
| | Quarterly Trends |
| YTD-03 | 4Q-03 | 3Q-03 | 2Q-03 | 1Q-03 | 4Q-02 |
Operating Results: | (Dollars in thousands except per share data) |
Interest income
Interest expense
Net interest income
Provision for loan losses
Service charges
Mortgage banking revenue
Wealth management fees
Bank-owned life insurance
Net gain on sale of securities
Other non-interest income
Total non-interest income
Salaries and benefits
Occupancy
Equipment
Amortization
Foreclosed property costs
Other non-interest expense
Total non-interest expense
Income before income taxes
Provision for income taxes
Net income
| $ 118,081
49,833
- -------------
68,248
8,274
7,148
5,410
4,705
1,829
5,329
2,480
- --------------
26,901
26,335
4,362
3,398
1,041
2,489
15,840
- --------------
53,465
- --------------
33,410
10,550
- --------------
$ 22,860
======== | $ 29,334
11,767
- -------------
17,567
2,584
1,892
757
1,645
189
951
1,158
- --------------
6,592
6,839
1,007
895
295
376
4,963
- --------------
14,375
- --------------
7,200
2,212
- --------------
$ 4,988
======== | $ 29,407
11,990
- -------------
17,417
2,355
1,822
1,504
1,069
552
1,296
389
- --------------
6,632
5,949
1,173
895
239
1,092
3,262
- --------------
12,610
- -------------
9,084
2,844
- --------------
$ 6,240
======== | $ 29,499
12,575
- -------------
16,924
1,675
1,728
1,534
1,039
445
1,359
550
- --------------
6,655
6,421
1,047
821
228
720
3,757
- --------------
12,994
- --------------
8,910
2,831
- -------------
$ 6,079
======== | $ 29,841
13,501
- -------------
16,340
1,660
1,706
1,615
952
643
1,723
383
- --------------
7,022
7,126
1,135
787
279
301
3,858
- -------------
13,486
- --------------
8,216
2,663
- --------------
$ 5,553
======== | $ 30,639
14,283
- -------------
16,356
3,089
1,917
1,166
1,129
422
2,345
1,134
- --------------
8,113
7,298
959
941
271
181
3,400
- --------------
13,050
- --------------
8,330
2,612
- --------------
$ 5,718
======== |
Profitability measures:
Basic earnings per share
Diluted earnings per share
Return on average assets
Return on average equity
Net interest margin
Efficiency ratio |
$ 1.34
$ 1.32
0.95%
12.11%
3.10%
56.19%
|
$ 0.28
$ 0.28
0.82%
10.00%
3.14%
59.50%
|
$ 0.36
$ 0.35
1.03%
12.91%
3.12%
52.43%
|
$ 0.36
$ 0.35
1.02%
12.72%
3.12%
55.11%
|
$ 0.34
$ 0.34
0.92%
13.10%
3.00%
57.73%
|
$ 0.36
$ 0.35
0.98%
13.71%
3.05%
53.33%
|
Balance Sheet Averages:
Loans
Investment securities
Other earning assets
Total earning assets
Cash and due from banks
Allowance for loan losses
Intangible assets
Other assets
Total assets |
$1,767,118
417,377
15,914
- --------------
2,200,409
48,619
(19,656)
55,240
119,519
- --------------
$2,404,131
========
|
$1,819,943
398,474
4,618
- --------------
2,223,035
53,604
(19,779)
54,927
126,330
- --------------
$2,438,117
========
|
$1,821,676
385,999
10,181
- --------------
2,217,856
64,679
(20,537)
54,235
117,562
- --------------
$2,433,795
========
|
$1,734,676
407,702
34,269
- --------------
2,176,647
47,920
(19,484)
54,015
115,712
- --------------
$2,374,810
========
|
$1,709,113
478,664
17,757
- --------------
2,205,534
45,892
(19,360)
57,947
118,896
- --------------
$2,408,909
========
|
$1,674,771
423,894
31,549
- --------------
2,130,214
41,772
(18,453)
58,380
118,016
- --------------
$2,329,929
========
|
Demand deposits
Interest bearing deposits
Borrowings
Other liabilities
Subordinated debentures
Shareholders' equity
Total liabilities and equity
| $ 196,604
1,543,144
405,045
13,319
57,250
188,769
- --------------
$2,404,131
======== | $ 194,660
1,534,710
442,557
9,392
57,250
199,548
- --------------
$2,438,117
======== | $ 222,476
1,529,955
416,914
13,903
57,250
193,297
- --------------
$2,433,795
======== | $ 210,241
1,512,216
389,364
14,538
57,250
191,201
- --------------
$2,374,810
======== | $ 190,771
1,587,282
391,117
12,955
57,250
169,534
- --------------
$2,408,909
======== | $ 194,464
1,522,340
373,949
15,110
57,250
166,816
- --------------
$2,329,929
======== |
Diluted shares outstanding (average) |
17,295,915
|
17,817,032
|
17,848,729
|
17,378,810
|
16,509,453
|
16,453,642
|
| Quarterly Trends |
| 12/31/2003 | 9/30/2003 | 6/30/2003 | 3/31/2003 | 12/31/2002 |
| (Dollars in thousands except per share data) |
Changes in Allowance for Loan
Losses:
Allowance-Beginning of period
Charge-offs
Recoveries
Divested subsidiary balance
Provision
Allowance - End of period |
$ 21,039
(4,833)
928
- -
2,584
- --------------
$ 19,718
========
|
$ 20,016
(1,428)
96
- -
2,355
- --------------
$ 21,039
========
|
$ 18,730
(622)
233
- -
1,675
- --------------
$ 20,016
========
|
$ 19,567
(2,033)
292
(756)
1,660
- --------------
$ 18,730
========
|
$ 18,460
(2,059)
77
- -
3,089
- -------------
$ 19,567
========
|
Allowance for loan losses
to total loans
Net charge-offs to average
loans (annualized)
Allowance for loan losses to
non-performing loans |
1.07%
0.86%
109.58%
|
1.17%
0.29%
127.52%
|
1.16%
0.09%
101.68%
|
1.13%
0.41%
139.29%
|
1.15%
0.47%
125.12%
|
Non-performing Assets:
Past due 90 days or more
Non-accrual
Restructured
Total non-performing loans
Other real estate
Total non-performing assets |
$ 2,260
15,734
- -
- --------------
17,994
1,358
- --------------
$ 19,352
========
|
$ 2,057
14,442
- -
- --------------
16,499
1,144
- --------------
$ 17,643
========
|
$ 7,246
12,439
- -
- --------------
19,685
1,985
- --------------
$ 21,670
========
|
$ 1,994
11,453
- -
- --------------
13,447
- -
- --------------
$ 13,447
========
|
$ 2,337
12,938
364
- --------------
15,639
611
- --------------
$ 16,250
========
|
Non-performing loans to
total loans
Non-performing assets to
total assets |
0.98%
0.79%
|
0.91%
0.72%
|
1.14%
0.90%
|
0.81%
0.58%
|
0.92%
0.68%
|
Period End Balances:
Commercial loans
Construction loans
1-4 Family mortgage loans
Commercial real estate loans
Consumer loans
Total loans
Investment securities
Other earning assets
Cash and due from banks
Allowance for loan losses
Intangible assets
Other assets
Total assets |
$ 283,790
320,235
327,942
832,134
75,362
- --------------
1,839,463
366,497
9,230
65,371
(19,718)
54,863
137,124
- --------------
$2,452,830
========
|
$ 259,898
274,828
329,525
868,848
71,015
- --------------
$1,804,114
373,832
51,212
78,918
(21,039)
55,088
116,753
- --------------
$2,458,878
========
|
$ 269,377
269,075
323,556
796,433
66,791
- --------------
$1,725,232
396,270
70,296
56,158
(20,016)
53,940
115,711
- --------------
$2,397,591
========
|
$ 267,910
272,715
320,741
738,525
64,282
- --------------
$1,664,173
401,702
64,144
48,016
(18,730)
54,168
114,005
- --------------
$2,327,478
========
|
$ 314,703
277,018
352,136
695,821
63,231
- --------------
$1,702,909
455,082
45,907
41,890
(19,567)
58,016
120,079
- --------------
$2,404,316
========
|
Demand deposits
Money Market and NOW accounts
Savings deposits
Certificates of deposit
Certificates of deposit > $100K
IRA certificates
Brokered deposits
Total deposits
Borrowings
Federal Home Loan advances
Other liabilities
Subordinated debentures
Shareholders' equity
Total liabilities and equity | $ 193,450
407,928
207,270
549,192
180,431
75,099
95,186
- --------------
$1,708,556
173,897
307,616
6,951
57,250
198,560
- --------------
$2,452,830
======== | $ 213,351
406,255
213,859
554,804
202,961
75,920
95,276
- --------------
$1,762,426
149,472
282,040
11,792
57,250
195,898
- --------------
$2,458,878
======== | $ 222,114
404,849
206,379
565,780
210,278
76,123
60,346
- --------------
$1,745,869
105,308
282,531
12,619
57,250
194,014
- --------------
$2,397,591
======== | $ 197,306
410,505
218,059
551,398
208,797
74,738
60,960
- --------------
$1,721,763
78,558
302,895
12,904
57,250
154,108
- --------------
$2,327,478
======== | $ 215,529
408,261
228,397
570,915
202,086
82,600
60,244
- --------------
$1,768,032
94,882
304,853
12,057
57,250
167,242
- --------------
$2,404,316
======== |
| | | | | |
Shares outstanding | 17,529,229 | 17,479,471 | 17,398,178 | 16,220,542 | 16,146,804 |
