EXHIBIT 99.2
FEBRUARY 27, 2004
CORRECTED FINANCIAL HIGHLIGHTS PUBLISHED ON REGISTRANT'S WEBSITE
Trend Analysis--Annual (click here for Quarterly Analysis)
For the definition of a financial field, click on the field name.
Balance Sheet (dollars in thousands)
2003/ 2002/
2002 2001
2003Y 2002Y Ch (%) 2001Y Ch (%)
----- ----- ------ ----- ------
Gross Loans Held for Investment 138,468 121,509 13.96 122,219 (0.58)
Total Allowance for Loan Losses 1,636 1,690 (3.20) 1,498 12.82
Loans Held for Sale 0 0 0.00 0 0.00
Total Net Loans 136,832 119,819 14.20 120,721 (0.75)
Total Intangible Assets 0 0 0.00 0 0.00
Total Assets 194,711 169,926 14.59 156,365 8.67
Total Deposits 152,683 132,174 15.52 130,344 1.40
Trust Preferred Securities (FASB 150) 5,155 0 NM 0 0.00
Trust Preferred Securities (Pre FASB 150) 0 5,000 (100.00) 0 NM
Total Trust Preferred 5,155 5,000 3.10 0 NM
Total Borrowings 23,633 15,136 56.14 9,602 57.63
Common Equity 16,583 15,960 3.90 14,738 8.29
Total Equity 16,583 15,960 3.90 14,738 8.29
Shares Outstanding (actual) 1,190,366 1,183,303 0.60 1,182,544 0.06
Income Statement (dollars in thousands)
2003/ 2002/
2002 2001
2003Y 2002Y Ch (%) 2001Y Ch (%)
----- ----- ------ ----- ------
Net Interest Income 8,200 8,337 (1.64) 7,714 8.08
Loan Loss Provisions 233 330 (29.39) 479 (31.11)
Total Noninterest Income 1,699 2,377 (28.52) 2,820 (15.71)
Total Noninterest Expense 8,196 8,371 (2.09) 8,344 0.32
Net Income Before Taxes 1,526 2,023 (24.57) 1,829 10.61
Income Taxes 490 680 (27.94) 589 15.45
Net Income 1,036 1,343 (22.86) 1,240 8.31
Per Share Items ($)
2003/ 2002/
2002 2001
2003Y 2002Y Ch (%) 2001Y Ch (%)
----- ----- ------ ----- ------
Book Value 13.93 13.49 3.27 12.46 8.27
Tangible Book Value 13.93 13.49 3.27 12.46 8.27
Diluted EPS Before Extraordinary 0.86 1.13 (23.89) 1.02 10.78
Diluted EPS After Extraordinary 0.86 1.13 (23.89) 1.02 10.78
Dividends Declared 0.3091 0.1423 117.22 0.1318 7.97
Performance Ratios (%)
2003/ 2002/
2002 2001
2003Y 2002Y Ch (bp) 2001Y Ch (bp)
----- ----- ------- ----- -------
ROAA 0.60 0.82 (22) 0.83 (1)
ROAE 6.42 8.84 (242) 8.50 34
Net Interest Margin 5.02 5.48 (46) 5.52 (3)
Efficiency Ratio 82.32 77.24 508 78.17 (93)
Loans / Deposits 90.69 91.93 (124) 93.77 (184)
Asset Quality Ratios (%)
2003/ 2002/
2002 2001
2003Y 2002Y Ch (bp) 2001Y Ch (bp)
----- ----- ------- ----- -------
NPAs/Assets NA 0.45 NA 0.35 10
NCOs/Loans 0.22 0.11 11 0.26 (15)
Reserves/Loans 1.18 1.39 (21) 1.23 17
Reserves/NPAs NA 218.91 NA 270.89 (5,197)
Capital Ratios (%)
2003/ 2002/
2002 2001
2003Y 2002Y Ch (bp) 2001Y Ch (bp)
----- ----- ------- ----- -------
Tier 1 Capital NA 15.95 NA 11.59 436
Tangible Equity / Tangible Assets 8.52 9.39 (88) 9.43 (3)
Total Equity / Total Assets 8.52 9.39 (88) 9.43 (3)