| Old Point Financial Corporation | ||||||||
|---|---|---|---|---|---|---|---|---|
| Consolidated Balance Sheet | ||||||||
| Assets | 30-Jun-03 | 30-Jun-02 | ||||||
| Cash and due from banks | $ | 17,685 | $ | 12,842 | ||||
| Investments: | ||||||||
| Securities available for sale, at market | 143,738 | 100,053 | ||||||
| Securities to be held to maturity | 14,665 | 32,765 | ||||||
| Trading Account Securities | 0 | 0 | ||||||
| Federal Funds Sold | 12,460 | 5,275 | ||||||
| Loans (total) | 391,247 | 363,311 | ||||||
| Less reserve for loan losses | 4,877 | 4,209 | ||||||
| Net loans | 386,370 | 359,102 | ||||||
| Bank Premises and Equipment | 13,303 | 13,538 | ||||||
| Other Real Estate Owned | 696 | 1,347 | ||||||
| Other Assets: | 10,945 | 10,706 | ||||||
| Total Assets | $ | 599,862 | $ | 535,628 | ||||
| Liabilities | 30-Jun-03 | 30-Jun-02 | ||||||
|---|---|---|---|---|---|---|---|---|
| Noninterest-bearing deposits | $ | 101,718 | $ | 82,089 | ||||
| Savings deposits | 161,799 | 148,210 | ||||||
| Time Deposits | 206,601 | 197,674 | ||||||
| Total Deposits | 470,118 | 427,973 | ||||||
| Federal funds purchased and securities sold | 19,144 | 20,704 | ||||||
| under agreement to repurchase | ||||||||
| Federal Home Loan Bank Advances | 40,000 | 25,000 | ||||||
| Interest-bearing demand notes issued to the | 6,000 | 4,745 | ||||||
| United States Treasury and other liabilities | ||||||||
| for borrowed money | ||||||||
| Other liabilities | 2,449 | 2,286 | ||||||
| Total Liabilities | 537,711 | 480,708 | ||||||
| Stockholders' Equity | ||||||||
| Common stock, $5.00 par value | 19,822 | 13,049 | ||||||
| 2003 2002 | ||||||||
| Shares Authorized 10,000,000 10,000,000 | ||||||||
| Shares Outstanding 3,964,493 3,914,737 | ||||||||
| Surplus | 12,097 | 10,738 | ||||||
| Undivided profits | 27,745 | 29,837 | ||||||
| Accumulated other comprehensive income(loss) | 2,487 | 1,296 | ||||||
| Total stockholders' equity | 62,151 | 54,920 | ||||||
| Total liabilities and stockholders' equity | $ | 599,862 | $ | 535,628 | ||||
| Old Point Financial Corporation | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Consolidated Statements of Earnings | ||||||||||||||
| Interest Income | 3 Mos Ended | 3 Mos Ended | 6 Mos Ended | 6 Mos Ended | ||||||||||
| 30-Jun-03 | 30-Jun-02 | 30-Jun-03 | 30-Jun-02 | |||||||||||
| Interest and Fees on loans | $ | 6,746 | $ | 6,768 | $ | 13,433 | $ | 13,424 | ||||||
| Interest on federal funds sold | 33 | 49 | 93 | 91 | ||||||||||
| Interest on securities | ||||||||||||||
| Taxable | 1,056 | 1,056 | 2,137 | 2,184 | ||||||||||
| Exempt from Federal income tax | 553 | 586 | 1,120 | 1,182 | ||||||||||
| Total interest on securities | 1,609 | 1,642 | 3,257 | 3,366 | ||||||||||
| Interest on trading account | 0 | 0 | 0 | 0 | ||||||||||
| Total interest income | 8,388 | 8,459 | 16,783 | 16,881 | ||||||||||
| Interest Expense | ||||||||||||||
| Interest on savings deposits | 277 | 424 | 585 | 827 | ||||||||||
| Interest on time deposits | 1,650 | 2,113 | 3,401 | 4,362 | ||||||||||
| Interest on federal funds purchased and | 56 | 96 | 119 | 199 | ||||||||||
| securities sold under agreement to repurchase | ||||||||||||||
| Interest on Federal Home Loan Bank advances | 506 | 384 | 999 | 763 | ||||||||||
| Interest on demands notes (note balances) | 3 | 5 | 8 | 15 | ||||||||||
| issued to the United States Treasury and on | ||||||||||||||
| other borrowed money | ||||||||||||||
| Total Interest expense | 2,492 | 3,022 | 5,112 | 6,166 | ||||||||||
| Net Interest Income | 5,896 | 5,437 | 11,671 | 10,715 | ||||||||||
| Provision for loan losses | 300 | 400 | 600 | 700 | ||||||||||
| Net interest income after provision for loan | 5,596 | 5,037 | 11,071 | 10,015 | ||||||||||
| losses | ||||||||||||||
| Other Income | ||||||||||||||
| Income from fiduciary activities | 517 | 635 | 1,069 | 1,164 | ||||||||||
| Service charges on demand deposits | 730 | 731 | 1,444 | 1,429 | ||||||||||
| Other service charges, commissions and fees | 366 | 226 | 676 | 503 | ||||||||||
| Other operating income | 273 | 272 | 493 | 405 | ||||||||||
| Security gains(losses) | 24 | 4 | 29 | 9 | ||||||||||
| Trading account income | 0 | 0 | 0 | 0 | ||||||||||
| Total Other income | 1,910 | 1,868 | 3,711 | 3,510 | ||||||||||
| Other Expenses | ||||||||||||||
| Salaries and employee benefits | 2,982 | 2,692 | 5,904 | 5,306 | ||||||||||
| Occupancy expense of bank premises | 305 | 270 | 610 | 569 | ||||||||||
| Furniture and equipment expense | 412 | 414 | 821 | 820 | ||||||||||
| Other operating expenses | 1,227 | 1,152 | 2,257 | 2,223 | ||||||||||
| Total other expenses | 4,926 | 4,528 | 9,592 | 8,918 | ||||||||||
| Income before taxes | 2,580 | 2,377 | 5,190 | 4,607 | ||||||||||
| Applicable income taxes | 640 | 565 | 1,296 | 1,137 | ||||||||||
| Net Income | 1,940 | 1,812 | 3,894 | 3,470 | ||||||||||
| Per Share | ||||||||||||||
| Based on weighted average number of common | 3,955,511 | 3,906,603 | 3,948,406 | 3,904,821 | ||||||||||
| shares outstanding | ||||||||||||||
| Basic Earnings per share | $ | 0.49 | $ | 0.46 | $ | 0.99 | $ | 0.89 | ||||||
| Diluted Earnings per share | $ | 0.47 | $ | 0.45 | $ | 0.96 | $ | 0.87 | ||||||
| Cash Dividends Declared | $ | 0.12 | $ | 0.11 | $ | 0.24 | $ | 0.21 | ||||||
