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Five Year Summary of Consolidated Financial Statements and Related 1
Statistics Dollars in thousands, except per share data
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The following selected data has been taken from the Company's consolidated
financial statements. It should be read in conjunction with the consolidated
financial statements and related notes included elsewhere in this annual report.
1999 1998 1997 1996 1995
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Summary of Operations:
Interest and Fees on Loans............. $53,868 $51,980 $49,160 $48,316 $45,493
Interest on Investments................ 14,061 13,380 14,065 13,572 13,448
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Total Interest Income.............. 67,929 65,360 63,225 61,888 58,941
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Interest on Deposits................... 27,860 28,450 27,804 28,037 26,626
Interest on Borrowings................. 7,899 6,155 5,930 5,965 5,240
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Total Interest Expense............. 35,759 34,605 33,734 34,002 31,866
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Net Interest Income.................... 32,170 30,755 29,491 27,886 27,075
Provision for Loan Losses.............. 1,718 1,338 773 428 197
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Net Interest Income after
Provision for Loan Losses............ 30,452 29,417 28,718 27,458 26,878
Noninterest Income..................... 6,251 4,996 5,698 12,869 (1) 7,418
Noninterest Expenses................... 24,832 22,318 24,278 (1) 22,714 22,205
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Income Before Income Taxes............. 11,871 12,095 10,138 17,613 12,091
Income Tax Expense..................... 3,049 3,525 2,868 6,230 4,101
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Net Income............................. $8,822 $8,570 $7,270 $11,383 $7,990
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Year-end Balances:
Total Assets........................... $992,635 $896,925 $846,332 $795,555 $839,237
Total Loans, Net....................... 685,424 589,765 516,747 500,132 527,431
Total Deposits......................... 698,261 665,113 645,349 624,401 664,134
Total Long-term Debt................... 122,902 124,381 100,296 101,885 80,387
Total Shareholders' Equity............. 87,487 91,276 84,412 79,389 70,717
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Per Share Data (2):
Net Income............................. $0.96 $0.93 $0.79 $1.24 $0.87
Net Income - as adjusted (3) .......... 0.96 0.93 0.88 0.76 0.87
Cash Dividends (4)..................... 0.49 0.43 0.35 0.28 0.25
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Other Data at Year-end:
Number of Shareholders................. 2,918 2,920 2,709 2,622 2,564
Number of Employees.................... 392 364 327 394 384
Weighted Average Number of Shares (2).. 9,186,474 9,197,274 9,189,349 9,180,938 9,177,367
<FN>
(1) In 1997, 1ST BANCORP incurred a $1.3 million one-time special SAIF assessment. In 1996, 1ST BANCORP realized a gain of $7.3
million on the sale of branch offices.
(2) Share and Per share data has been retroactively adjusted to give effect for stock dividends and splits, and excludes the
dilutive effect of stock options.
(3) Excludes $1.3 million SAIF assessment in 1997 and $7.3 million gain on sale in 1996. See Management's Discussion and Analysis
for further information.
(4) Cash dividends represent historical dividends declared per share without retroactive restatement for poolings.
</FN>