COMMUNITY BANKS, INC. & SUBSIDIARIES
------------------------------------
Fiscal Insight - JUNE 30, 2004
------------------------------
KEY RATIOS
----------
2004 2003
- ------------------------------------------------------------- ------------------- ------------------------------------------
Second First Fourth Third Second
Quarter Quarter Quarter Quarter Quarter Annual
- ------------------------------------------------------------- ------------------- ------------------------------------------
Earnings per share - basic (1) $ 0.45 $ 0.42 $ 0.43 $ 0.42 $ 0.41 $ 1.68
Earnings per share - diluted (1) $ 0.43 $ 0.41 $ 0.41 $ 0.41 $ 0.40 $ 1.63
Return on average assets 1.11% 1.10% 1.13% 1.12% 1.12% 1.15%
Return on average equity 15.37% 14.13% 14.75% 14.95% 14.62% 15.03%
Return on average realized equity (2) 15.54% 14.98% 15.26% 15.65% 15.68% 15.81%
Net interest margin 3.44% 3.40% 3.41% 3.44% 3.49% 3.50%
Non-interest income/revenues (FTE excluding security gains) 25.11% 22.17% 27.01% 25.91% 23.59% 23.95%
Provision for loan losses/average loans (annualized) 0.27% 0.31% 0.22% 0.35% 0.25% 0.25%
Efficiency ratio 61.55% 61.19% 62.41% 59.33% 59.89% 60.47%
Non-performing assets to period-end loans 0.69% 0.86% 1.21% 1.11% 1.16%
90 day past due loans to period-end loans 0.00% 0.01% 0.01% 0.01% 0.01%
------------------- -------------------------------
Total risk elements to period-end loans 0.69% 0.87% 1.22% 1.12% 1.17%
=================== ===============================
Allowance for loan losses to loans 1.23% 1.25% 1.22% 1.26% 1.29%
Allowance for loan losses to
non-accrual loans 229% 184% 162% 119% 115%
Net charge-offs/average loans (annualized) 0.11% 0.06% 0.32% 0.15% 0.14%
Equity to assets 6.94% 7.74% 7.71% 7.53% 7.71%
(1) Per share data reflect stock splits and stock dividends
(2) Excludes accumulated other comprehensive income (loss) items
1
PER SHARE STATISTICS *
----------------------
Diluted Earnings per Share
- -------------------------------------------------------------------------------------------------------------------------
Fourth Third Second First
Quarter Quarter Quarter Quarter Total
- -------------------------------------------------------------------------------------------------------------------------
2004 $0.43 $0.41 $0.84
2003 $0.41 $0.41 $0.40 $0.41 $1.63
2002 $0.37 $0.38 $0.37 $0.36 $1.48
- -------------------------------------------------------------------------------------------------------------------------
Average Diluted Shares Outstanding
- -------------------------------------------------------------------------------------------------------------------------
Fourth Third Second First Average for
Quarter Quarter Quarter Quarter Year
- -------------------------------------------------------------------------------------------------------------------------
2004 12,587 12,653 12,619
2003 12,623 12,501 12,433 12,375 12,497
2002 12,407 12,491 12,539 12,529 12,491
- -------------------------------------------------------------------------------------------------------------------------
Book Value per Share
- ----------------------------------------------------------------------------------------------------------
Fourth Third Second First
Quarter Quarter Quarter Quarter
- ----------------------------------------------------------------------------------------------------------
2004 $11.15 $12.27
2003 $11.73 $11.25 $11.73 $10.83
2002 $10.67 $10.56 $9.97 $ 9.05
- ----------------------------------------------------------------------------------------------------------
Realized Book Value per Share (excludes accumulated other comprehensive income items)
- ----------------------------------------------------------------------------------------------------------
Fourth Third Second First
Quarter Quarter Quarter Quarter
- ----------------------------------------------------------------------------------------------------------
2004 $11.61 $11.40
2003 $11.19 $10.89 $10.60 $10.33
2002 $10.13 $ 9.92 $ 9.77 $ 9.53
- ----------------------------------------------------------------------------------------------------------
* Per share data reflect stock splits and stock dividends
2
QUARTER END INFORMATION
-----------------------
(dollars in thousands) 2004 2003
- ---------------------------------------------------------- -------------------------- ----------------------------------------
Second First Fourth Third Second
Quarter Quarter Quarter Quarter Quarter
- ---------------------------------------------------------- -------------------------- ----------------------------------------
Loans, net $1,147,074 $1,098,695 $1,065,433 $1,055,527 $ 991,145
Earning assets 1,843,262 1,834,961 1,750,263 1,707,752 1,722,320
Goodwill and identifiable intangible assets 4,976 4,759 4,773 4,699 2,446
Total assets 1,961,061 1,944,555 1,861,063 1,816,477 1,843,152
Deposits 1,297,370 1,282,410 1,230,685 1,210,632 1,194,225
Long-term debt 373,066 399,750 411,422 348,082 319,112
Subordinated debt 30,928 30,928 30,928 15,464 15,464
Total shareholder's equity 136,135 150,504 143,406 136,710 142,062
Accumulated other comprehensive income (loss) (net of tax) (5,607) 10,604 6,596 4,451 13,624
- ---------------------------------------------------------- -------------------------- ----------------------------------------
3
CONDENSED CONSOLIDATED QUARTERLY AVERAGE STATEMENTS OF CONDITION
----------------------------------------------------------------
(dollars in thousands) 2004 2003
- ------------------------------------------------ --------------------------- -------------------------------------------
Second First Fourth Third Second
Quarter Quarter Quarter Quarter Quarter
- ------------------------------------------------ --------------------------- -------------------------------------------
Assets
Earning Assets:
Loans $1,138,284 $1,100,432 $1,067,506 $1,026,429 $ 979,173
Federal funds sold and other 14,297 11,175 21,773 5,241 4,591
Taxable investment securities 493,150 463,804 423,723 469,450 483,410
Tax-exempt investment securities 208,754 207,942 207,841 213,158 211,985
- ------------------------------------------------ --------------------------- -------------------------------------------
Total Earning Assets 1,854,485 1,783,353 1,720,843 1,714,278 1,679,159
Cash and due from banks 34,366 36,065 38,394 37,037 37,945
Allowance for loan losses (14,172) (13,484) (13,444) (13,121) (12,859)
Goodwill and other identifiable intangibles 4,844 4,756 4,634 3,220 2,155
Premises, equipment and other assets 82,351 86,091 73,265 74,287 73,454
- ------------------------------------------------ --------------------------- -------------------------------------------
Total assets $1,961,874 $1,896,781 $1,823,692 $1,815,701 $1,779,854
- ------------------------------------------------ --------------------------- -------------------------------------------
Liabilities and equity
Interest-bearing liabilities:
Deposits
Savings and NOW accounts $ 516,409 $ 457,269 $ 445,881 $ 417,872 $ 386,797
Time 510,783 501,571 492,401 496,945 498,676
Time deposits greater than $100,000 119,054 119,459 108,225 108,006 115,359
Short-term borrowings 83,333 52,020 45,278 124,568 125,384
Long-term debt and subordinated debt 398,685 441,076 408,018 343,972 335,014
- ------------------------------------------------ --------------------------- -------------------------------------------
Total interest-bearing liabilities 1,628,264 1,571,395 1,499,803 1,491,363 1,461,230
Noninterest-bearing deposits 177,104 164,295 167,874 174,042 169,220
Other liabilities 14,179 13,783 16,789 13,720 12,915
- ------------------------------------------------ --------------------------- -------------------------------------------
Total liabilities 1,819,547 1,749,473 1,684,466 1,679,125 1,643,365
- ------------------------------------------------ --------------------------- -------------------------------------------
Shareholders' equity 142,327 147,308 139,226 136,576 136,489
- ------------------------------------------------ --------------------------- ------------- -----------------------------
Total liabilities and
shareholders' equity $1,961,874 $1,896,781 $1,823,692 $1,815,701 $1,779,854
- ------------------------------------------------ --------------------------- -------------------------------------------
Change in Average Balances *
- -----------------------------------------------------------------------------------------------------------------------------------
2004 2003
- ------------------------------------------------ --------------------------- --------------------------------------------
Second First Fourth Third Second
Quarter Quarter Quarter Quarter Quarter
- ------------------------------------------------ --------------------------- --------------------------------------------
Loans 16.2% 20.2% 17.8% 14.0% 10.5%
Total assets 10.2% 11.4% 11.6% 13.2% 13.9%
Deposits 13.1% 10.1% 8.4% 7.4% 6.9%
Shareholders' equity 4.3% 12.6% 9.4% 9.6% 19.7%
- ------------------------------------------------ --------------------------- --------------------------------------------
* Compares the current quarter to the comparable quarter of the prior year.
4
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
-------------------------------------------
(dollars in thousands) 2004 2003
- ---------------------------------------- ------------------- -------------------------------------------
Second First Fourth Third Second
Quarter Quarter Quarter Quarter Quarter Annual
- ---------------------------------------- ------------------- -------------------------------------------
Interest income $24,882 $23,980 $23,602 $23,769 $23,723 $94,865
Tax equivalent adjustment 1,639 1,623 1,615 1,630 1,589 6,352
- ---------------------------------------- ------------------- -------------------------------------------
26,521 25,603 25,217 25,399 25,312 101,217
Interest expense 10,678 10,541 10,428 10,520 10,699 42,351
- ---------------------------------------- ------------------- -------------------------------------------
Net interest income 15,843 15,062 14,789 14,879 14,613 58,866
Provision for loan losses 750 850 600 900 600 2,500
- ---------------------------------------- ------------------- -------------------------------------------
Net interest income after provision 15,093 14,212 14,189 13,979 14,013 56,366
Non-interest income 4,484 3,664 4,748 4,268 4,066 16,004
Investment security gains 844 1,332 78 302 500 1,927
Mortgage banking activities 828 627 725 936 445 2,532
Non-interest expenses 12,962 11,883 11,962 11,578 11,389 45,718
- ---------------------------------------- ------------------- -------------------------------------------
Income before income taxes 8,287 7,952 7,778 7,907 7,635 31,111
Income taxes 1,211 1,154 987 1,130 1,070 4,359
Tax equivalent adjustment 1,639 1,623 1,615 1,630 1,589 6,352
- ---------------------------------------- ------------------- -------------------------------------------
NET INCOME $ 5,437 $ 5,175 $ 5,176 $ 5,147 $ 4,976 $20,400
- ---------------------------------------- ------------------- -------------------------------------------
Tax effect of security transactions $ 295 $ 466 $ 27 $ 106 $ 175 $ 674
- --------------------------------------- ------------------- -------------------------------------------
5
ANALYSIS OF NON-INTEREST INCOME
-------------------------------
(dollars in thousands) 2004 2003
- ------------------------------------------------ -------------------------- --------------------------------------------------
Second First Fourth Third Second
Quarter Quarter Quarter Quarter Quarter Annual
- ------------------------------------------------ -------------------------- --------------------------------------------------
Investment management and trust services $ 409 $ 267 $ 384 $ 292 $ 333 $ 1,326
Service charges on deposit accounts 1,707 1,405 1,442 1,350 1,295 5,128
Other service charges, commissions and fees 775 902 629 799 776 2,958
Insurance premium income and commissions 1,025 654 745 819 848 2,822
Earnings on investment in life insurance 412 365 311 372 443 1,455
Other income 156 71 1,237 636 371 2,315
- ------------------------------------------------ -------------------------- --------------------------------------------------
Total non-interest income $ 4,484 $ 3,664 $ 4,748 $ 4,268 $ 4,066 $16,004
- ------------------------------------------------ -------------------------- --------------------------------------------------
ANALYSIS OF NON-INTEREST EXPENSES
---------------------------------
(dollars in thousands) 2004 2003
- ----------------------------------------------- -------------------------- --------------------------------------------------
Second First Fourth Third Second
Quarter Quarter Quarter Quarter Quarter Annual
- ----------------------------------------------- -------------------------- --------------------------------------------------
Salaries and employee benefits $ 7,041 $ 6,835 $ 6,598 $ 6,623 $ 6,276 $25,397
Net occupancy expense 1,995 2,033 1,836 1,820 1,778 7,200
Marketing expense 869 420 521 412 571 2,018
Telecommunications expense 344 317 350 425 327 1,302
Other operating expenses 2,713 2,278 2,657 2,298 2,437 9,801
- ----------------------------------------------- -------------------------- --------------------------------------------------
Total non-interest expenses $12,962 $11,883 $11,962 $11,578 $11,389 $45,718
- ----------------------------------------------- -------------------------- --------------------------------------------------
6
RISK ELEMENTS ANALYSIS
----------------------
(dollars in thousands) 2004 2003
- ------------------------------------------------------ ------------------------------ -----------------------------------------
Second First Fourth Third Second
Quarter Quarter Quarter Quarter Quarter
- ------------------------------------------------------ ------------------------------ -----------------------------------------
Non-performing assets:
Non-accrual loans $ 6,244 $ 7,541 $ 8,151 $11,310 $11,281
Troubled debt restructurings - - - - -
Foreclosed real estate 1,788 2,057 4,865 572 359
- ------------------------------------------------------ ------------------------------ -----------------------------------------
Total non-performing assets 8,032 9,598 13,016 11,882 11,640
Accruing loans 90 days or more past due 32 98 90 71 61
- ------------------------------------------------------ ------------------------------ -----------------------------------------
Total risk elements $ 8,064 $ 9,696 $13,106 $11,953 $11,701
- ------------------------------------------------------ ------------------------------ -----------------------------------------
Non-performing assets to period-end loans 0.69% 0.86% 1.21% 1.11% 1.16%
- ------------------------------------------------------ ------------------------------ -----------------------------------------
90 day past due loans to period-end loans 0.00% 0.01% 0.01% 0.01% 0.01%
- ------------------------------------------------------ ------------------------------ -----------------------------------------
Total risk elements to period-end loans 0.69% 0.87% 1.22% 1.12% 1.17%
- ------------------------------------------------------ ------------------------------ -----------------------------------------
7
ALLOWANCE FOR LOAN LOSSES
-------------------------
(dollars in thousands) 2004 2003
- ------------------------------------------------------ --------------------------- ------------------------------------
Second First Fourth Third Second
Quarter Quarter Quarter Quarter Quarter
- ------------------------------------------------------ --------------------------- ------------------------------------
Balance at beginning of period $13,862 $13,178 $13,440 $12,922 $12,653
Loans charged off (752) (450) (1,479) (564) (504)
Recoveries 434 284 617 182 173
- ------------------------------------------------------ --------------------------- ------------------------------------
Net loans charged off (318) (166) (862) (382) (331)
- ------------------------------------------------------ --------------------------- ------------------------------------
Provision for loan losses 750 850 600 900 600
- ------------------------------------------------------ --------------------------- ------------------------------------
Balance at end of period $14,294 $13,862 $13,178 $13,440 $12,922
- ------------------------------------------------------ --------------------------- ------------------------------------
Net loans charged-off to average loans* 0.11% 0.06% 0.32% 0.15% 0.14%
- ------------------------------------------------------ --------------------------- ------------------------------------
Provision for loan losses to average loans* 0.27% 0.31% 0.22% 0.35% 0.25%
- ------------------------------------------------------ --------------------------- ------------------------------------
Allowance for loan losses to loans 1.23% 1.25% 1.22% 1.26% 1.29%
- ------------------------------------------------------ --------------------------- ------------------------------------
*Annualized
8
OTHER RATIOS
------------
2004 2003
- ------------------------------------------------------------------------------------------------------------------------
Second First Fourth Third Second
Quarter Quarter Quarter Quarter Quarter
- ------------------------------------------------------------------------------------------------------------------------
Investment portfolio - market to amortized cost 99.2% 102.8% 102.1% 101.5% 103.4%
Dividend payout ratio 38.2% 38.4% 37.5% 37.5% 38.6%
Net loans to deposits ratio, average 84.9% 87.5% 86.8% 84.7% 82.6%
- ------------------------------------------------------------------------------------------------------------------------
MARKET PRICE AND DIVIDENDS DECLARED *
-------------------------------------
- ---------------------------------------------------------------------------------------------------------------
Closing Bid Price Range
------------------------------- Dividends
Quarter High Low Declared
- ---------------------------------------------------------------------------------------------------------------
2004
- ---------------------------------------------------------------------------------------------------------------
I $ 34.52 $ 28.41 $0.1619
II $ 31.58 $ 27.02 $0.1700
III
IV
- ---------------------------------------------------------------------------------------------------------------
$0.3319
- ---------------------------------------------------------------------------------------------------------------
2003
- ---------------------------------------------------------------------------------------------------------------
I $ 22.51 $ 20.79 $0.1512
II $ 23.81 $ 22.11 $0.1586
III $ 26.59 4 23.69 $0.1586
IV $ 32.14 $ 26.67 $0.1586
- ---------------------------------------------------------------------------------------------------------------
$0.6270
- ---------------------------------------------------------------------------------------------------------------
2002
- ---------------------------------------------------------------------------------------------------------------
I $ 20.98 $ 18.41 $0.1208
II $ 22.45 $ 19.31 $0.1361
III $ 20.93 $ 18.07 $0.1361
IV $ 21.92 $ 19.64 $0.1512
- ---------------------------------------------------------------------------------------------------------------
$0.5442
- ----------------------------------------------------------------------------------------------------------------
* Per share data reflect stock splits and stock dividends
9
T
Net Interest Margin - Year-to-Date
----------------------------------
(dollars in thousands) June 30, 2004 June 30, 2003
- ----------------------------------------- ------------------------------------------ ---------------------------------------
Average FTE Interest Average Rate Average FTE Interest Average Rate
Balance Income/Expense Earned/Paid Balance Income/Expense Earned/Paid
- ----------------------------------------- ------------------------------------------ ---------------------------------------
Federal funds sold and interest-bearing
deposits in banks $ 9,179 $ 39 0.85% $ 1,036 $ 3
Investment securities 686,825 17,966 5.26% 690,800 17,862 5.21%
Loans - commercial 398,176 11,098 5.61% 319,833 10,086 6.36%
- commercial real estate 292,703 8,783 6.03% 261,183 8,731 6.74%
- residential real estate 96,397 3,249 6.78% 105,847 4,019 7.66%
- consumer 335,639 10,989 6.58% 264,149 9,900 7.56%
- ----------------------------------------- ------------------------------------------ ---------------------------------------
Total earning assets $1,818,919 $52,124 5.76% $1,642,848 $50,601 6.21%
- ----------------------------------------- ------------------------------------------ ---------------------------------------
Deposits - savings and NOW accounts $ 486,839 $ 2,016 0.83% $ 371,733 $ 1,562 0.85%
- time 625,433 9,117 2.93% 613,683 10,330 3.39%
Short-term borrowings 67,677 322 0.96% 110,751 764 1.39%
Long-term debt 388,952 9,009 4.66% 319,906 8,381 5.28%
Subordinated debt 30,928 755 4.91% 15,464 365 4.76%
- ----------------------------------------- ------------------------------------------ ---------------------------------------
Total interest-bearing liabilities $1,599,829 $21,219 2.67% $1,431,537 21,402 3.01%
- ----------------------------------------- ------------------------------------------ ---------------------------------------
Interest income to earning assets 5.76% 6.21%
Interest expense to paying liabilities 2.67% 3.01%
- ----------------------------------------- ------------------------------------------ ---------------------------------------
Interest spread 3.09% 3.20%
Impact of noninterest funds 0.33% 0.39%
- ----------------------------------------- ------------------------------------------ ---------------------------------------
Net interest margin $30,905 3.42% $29,199 3.59%
- ----------------------------------------- ------------------------------------------ ---------------------------------------
10
Net Interest Margin - Quarter-to-Date
-------------------------------------
(dollars in thousands) June 30, 2004 June 30, 2003
- ----------------------------------------- ----------------------------------------- --------------------------------------
Average FTE Interest Average Rate Average FTE Interest Average Rate
Balance Income/Expense Earned/Paid Balance Income/Expense Earned/Paid
- ----------------------------------------- ----------------------------------------- --------------------------------------
Federal funds sold and interest-bearing
deposits in banks $ 11,960 $ 26 0.87% $ 914 $ 1 0.44%
Investment securities 701,904 9,268 5.31% 695,395 8,763 5.05%
Loans - commercial 402,566 5,516 5.51% 334,026 5,137 6.17%
- commercial real estate 302,104 4,574 6.09% 271,094 4,422 6.54%
- residential real estate 95,009 1,574 6.66% 103,291 1,943 7.55%
- consumer 340,942 5,563 6.56% 274,439 5,046 7.37%
- ----------------------------------------- ----------------------------------------- --------------------------------------
Total earning assets $1,854,485 $26,521 5.75% $1,679,159 $25,312 6.05%
- ----------------------------------------- ----------------------------------------- --------------------------------------
$
Deposits - savings and NOW accounts $ 516,409 $ 1,127 0.88% $ 386,797 807 0.84%
- time 629,837 4,548 2.90% 614,035 5,067 3.31%
Short-term borrowings 83,333 198 0.96% 125,384 430 1.38%
Long-term debt 367,757 4,428 4.84% 319,550 4,214 5.29%
Subordinated debt 30,928 377 4.90% 15,464 181 4.69%
- ----------------------------------------- ----------------------------------------- --------------------------------------
Total interest-bearing liabilities $1,628,264 10,678 2.64% $1,461,230 $10,699 2.94%
- ----------------------------------------- ----------------------------------------- --------------------------------------
Interest income to earning assets 5.75% 6.05%
Interest expense to paying liabilities 2.64% 2.94%
- ----------------------------------------- ----------------------------------------- --------------------------------------
Interest spread 3.11% 3.11%
Impact of noninterest funds 0.33% 0.38%
- ----------------------------------------- ----------------------------------------- --------------------------------------
Net interest margin $15,843 3.44% $14,613 3.49%
- ----------------------------------------- ----------------------------------------- --------------------------------------
11
Net Interest Margin - Quarter-to-Date
-------------------------------------
(dollars in thousands) June 30, 2004 March 31, 2004
- ----------------------------------------- ----------------------------------------- --------------------------------------
Average FTE Interest Average Rate Average FTE Interest Average Rate
Balance Income/Expense Earned/Paid Balance Income/Expense Earned/Paid
- ----------------------------------------- ----------------------------------------- --------------------------------------
Federal funds sold and interest-bearing
deposits in banks $ 11,960 $ 26 0.87% $ 6,399 $ 13 0.82%
Investment securities 701,904 9,268 5.31% 671,746 8,699 5.21%
Loans - commercial 402,566 5,516 5.51% 393,786 5,581 5.70%
- commercial real estate 302,104 4,574 6.09% 283,302 4,209 5.98%
- residential real estate 95,009 1,574 6.66% 96,119 1,675 7.01%
- consumer 340,942 5,563 6.56% 332,001 5,426 6.57%
- ----------------------------------------- ----------------------------------------- --------------------------------------
Total earning assets $1,854,485 $26,521 5.75% $1,783,353 $25,603 5.77%
- ----------------------------------------- ----------------------------------------- --------------------------------------
Deposits - savings and NOW accounts $ 516,409 $ 1,127 0.88% $ 457,269 $ 889 0.78%
- time 629,837 4,548 2.90% 621,030 4,569 2.96%
Short-term borrowings 83,333 198 0.96% 52,020 124 0.96%
Long-term debt 367,757 4,428 4.84% 410,148 4,581 4.49%
Subordinated debt 30,928 377 4.90% 30,928 378 4.92%
- ----------------------------------------- ----------------------------------------- --------------------------------------
Total interest-bearing liabilities $1,628,264 10,678 2.64% $1,571,395 10,541 2.70%
- ----------------------------------------- ----------------------------------------- --------------------------------------
Interest income to earning assets 5.75% 5.77%
Interest expense to paying liabilities 2.64% 2.70%
- ----------------------------------------- ----------------------------------------- --------------------------------------
Interest spread 3.11% 3.07%
Impact of noninterest funds 0.33% 0.33%
- ----------------------------------------- ------------------------------------ --------------------------------------
Net interest margin $15,843 3.44% $15,062 3.40%
- ----------------------------------------- ----------------------------------------- --------------------------------------
12
PERIOD-END LOAN PORTFOLIO ANALYSIS
----------------------------------
(dollars in thousands) 2004 2003
- ---------------------------------------------- ------------------------------- ----------------------------------------------
Second First Fourth Third Second
Quarter Quarter Quarter Quarter Quarter
- ---------------------------------------------- ------------------------------- ----------------------------------------------
Commercial:
Commercial $ 378,588 $ 356,862 $ 330,591 $ 332,634 $ 308,845
Obligations of political subdivisions 37,801 37,142 36,853 38,597 35,178
- ---------------------------------------------- ------------------------------- ----------------------------------------------
416,389 394,004 367,444 371,231 344,023
- ---------------------------------------------- ------------------------------- ----------------------------------------------
Commercial real estate:
Commercial mortgages $ 303,031 $ 287,964 $ 283,661 $ 279,115 $ 272,071
- ---------------------------------------------- ------------------------------- ----------------------------------------------
Residential real estate:
Residential mortgages $ 84,260 $ 87,280 $ 91,485 $ 93,085 $ 97,182
Construction 10,929 8,505 7,338 5,753 3,294
- ---------------------------------------------- ------------------------------- ----------------------------------------------
95,189 95,785 98,823 98,838 100,476
- ---------------------------------------------- ------------------------------- ----------------------------------------------
Consumer:
Home equity loans $ 216,384 $ 209,868 $ 205,087 $ 200,100 $ 164,883
Home equity lines of credit 45,324 40,535 38,299 35,383 34,340
Indirect consumer loans 55,252 54,628 55,265 56,035 56,124
Other consumer loans 29,799 29,773 30,032 28,265 32,150
- ---------------------------------------------- ------------------------------- ----------------------------------------------
346,759 334,804 328,683 319,783 287,497
- ---------------------------------------------- ------------------------------- ----------------------------------------------
Total Loans $1,161,368 $1,112,557 $1,078,611 $1,068,967 $1,004,067
- ---------------------------------------------- ------------------------------- ----------------------------------------------
13