Niagara Bancorp, Inc.
Exhibit 99.1: Summary of Quarterly Financial Data
1999
------------------------------------------------------------------------
As of Third Second First
September 30, Quarter Quarter Quarter
---------------- --------------- --------------- ----------------
- ---------------------------------------------------------------------------------------------------------------------------------
SELECTED FINANCIAL DATA
(Amounts in thousands)
- ---------------------------------------------------------------------------------------------------------------------------------
Total assets $ 1,680,087 1,680,087 1,633,018 1,591,000
Total interest-earning assets $ 1,577,171 1,577,171 1,535,963 1,491,837
Securities, at amortized cost $ 609,778 609,778 646,155 673,521
Loans:
Real estate loans:
One-to four-family $ 590,184 590,184 533,915 477,363
Home equity $ 20,124 20,124 17,873 16,255
Multi-family $ 71,703 71,703 72,886 73,142
Commercial real-estate $ 117,230 117,230 113,248 105,009
Construction $ 20,453 20,453 17,425 22,486
---------------- --------------- --------------- ----------------
Total real estate loans $ 819,694 819,694 755,347 694,255
---------------- --------------- --------------- ----------------
Consumer and other loans:
Mobile home $ 25,991 25,991 25,559 25,309
Recreational vehicle $ 19,304 19,304 16,457 12,981
Automobile $ 20,419 20,419 16,358 11,633
Personal $ 15,841 15,841 15,802 15,349
Home improvement $ 8,292 8,292 7,928 7,518
Guaranteed student $ 12,275 12,275 13,522 13,967
Other consumer $ 384 384 296 324
---------------- --------------- --------------- ----------------
Total consumer and other loans $ 102,506 102,506 95,922 87,081
---------------- --------------- --------------- ----------------
Commercial business loans $ 19,209 19,209 13,784 7,503
Net deferred fees $ 5,608 5,608 4,938 4,786
---------------- --------------- --------------- ----------------
Total loans $ 947,017 947,017 869,991 793,625
Memo items:
Total loans originated 282,123 98,692 99,707 83,724
Total loans serviced 121,026 121,026 142,137 167,116
Total interest-bearing liabilities $ 1,367,354 1,367,354 1,327,100 1,279,641
Deposits:
Interest-bearing deposits $ 1,067,133 1,067,133 1,055,568 1,034,001
Noninterest-bearing deposits $ 32,631 32,631 32,750 30,993
---------------- --------------- --------------- ----------------
Total deposits $ 1,099,764 1,099,764 1,088,318 1,064,994
Short-term borrowings $ 45,461 45,461 45,453 45,446
Long-term borrowings $ 254,760 254,760 226,078 200,194
Stockholders' equity $ 235,690 235,690 239,509 249,256
Fair value adjustment included in
stockholders' equity $ (6,002) (6,002) (2,090) 2,494
Common shares outstanding:
Basic 25,954 25,954 26,404 27,241
Diluted 25,954 25,954 26,404 27,241
Equity to assets 14.03% 14.03% 14.67% 15.67%
1999
------------------------------------------------------------------------
Year-to-Date Third Second First
September 30, Quarter Quarter Quarter
---------------- --------------- --------------- ----------------
- ---------------------------------------------------------------------------------------------------------------------------------
SELECTED AVERAGE BALANCES
(Amounts in thousands)
- ---------------------------------------------------------------------------------------------------------------------------------
Total assets $ 1,604,249 1,671,065 1,618,039 1,522,004
Total interest-earning assets $ 1,506,884 1,580,682 1,518,391 1,419,779
Securities, at amortized cost $ 622,420 627,259 654,224 585,317
Loans (1) $ 838,909 917,658 826,239 711,219
Interest-bearing liabilities:
Savings accounts $ 304,255 308,467 307,312 296,859
Interest-bearing checking $ 297,075 320,868 299,028 270,779
Certificates of deposits $ 434,028 423,590 430,283 448,487
Mortgagors' payments held in escrow $ 11,323 15,191 10,528 8,173
Other borrowed funds $ 243,717 296,739 257,693 175,386
---------------- --------------- --------------- ----------------
Total interest-bearing liabilities $ 1,290,398 1,364,855 1,304,844 1,199,684
Interest-bearing deposits $ 1,046,681 1,068,116 1,047,151 1,024,298
Noninterest-bearing deposits $ 31,314 31,839 31,511 30,574
---------------- --------------- --------------- ----------------
Total deposits $ 1,077,995 1,099,955 1,078,662 1,054,872
Short-term borrowings $ 32,692 45,454 45,461 6,737
Long-term borrowings $ 211,025 251,285 212,232 168,649
Stockholders' equity $ 248,037 238,182 248,892 257,247
Common shares outstanding:
Basic 27,040 26,225 27,026 27,888
Diluted 27,040 26,225 27,026 27,888
1998
-------------------------------------------------------------------------
As of Fourth Third Second
December 31, Quarter Quarter Quarter
---------------- --------------- --------------- ---------------
- --------------------------------------------------------------------------------------------------------------------------
SELECTED FINANCIAL DATA
(Amounts in thousands)
- --------------------------------------------------------------------------------------------------------------------------
Total assets 1,508,734 1,508,734 1,430,884 1,345,187
Total interest-earning assets 1,408,097 1,408,097 1,348,889 1,267,128
Securities, at amortized cost 572,976 572,976 564,569 509,293
Loans:
Real estate loans:
One-to four-family 456,197 456,197 440,182 424,826
Home equity 15,520 15,520 14,394 14,332
Multi-family 72,672 72,672 73,677 75,015
Commercial real-estate 98,693 98,693 87,467 82,572
Construction 19,476 19,476 12,334 11,325
---------------- ---------------- ---------------- ----------------
Total real estate loans 662,558 662,558 628,054 608,070
---------------- ---------------- ---------------- ----------------
Consumer and other loans:
Mobile home 24,983 24,983 23,896 23,169
Recreational vehicle 8,906 8,906 5,638 2,466
Automobile 8,741 8,741 8,575 8,209
Personal 15,642 15,642 15,686 15,524
Home improvement 8,131 8,131 8,294 8,056
Guaranteed student 12,314 12,314 12,551 12,485
Other consumer 342 342 478 412
---------------- ---------------- ---------------- ----------------
Total consumer and other loans 79,059 79,059 75,118 70,321
---------------- ---------------- ---------------- ----------------
Commercial business loans 6,616 6,616 6,043 5,530
Net deferred fees 4,516 4,516 4,000 3,540
---------------- ---------------- ---------------- ----------------
Total loans 752,749 752,749 713,215 687,461
Memo items:
Total loans originated 310,257 91,476 83,235 91,881
Total loans serviced 170,105 170,105 166,192 155,887
Total interest-bearing liabilities 1,170,580 1,170,580 1,108,093 1,035,264
Deposits:
Interest-bearing deposits 1,027,983 1,027,983 991,363 977,522
Noninterest-bearing deposits 32,914 32,914 28,759 29,228
---------------- ---------------- ---------------- ----------------
Total deposits 1,060,897 1,060,897 1,020,122 1,006,750
Short-term borrowings 5,549 5,549 10,532 18,471
Long-term borrowings 137,048 137,048 106,198 39,272
Stockholders' equity 263,825 263,825 260,782 256,042
Fair value adjustment included in
stockholders' equity 4,587 4,587 4,930 3,192
Common shares outstanding:
Basic 28,716 28,716 28,701 28,687
Diluted 28,716 28,716 28,701 28,687
Equity to assets 17.49% 17.49% 18.23% 19.03%
1998
------------------------------------------------------------------------
Year-to-Date Fourth Third Second
September 30, Quarter Quarter Quarter
--------------- ------------- ------------- -------------
- --------------------------------------------------------------------------------------------------------------------------
SELECTED AVERAGE BALANCES
(Amounts in thousands)
- --------------------------------------------------------------------------------------------------------------------------
Total assets 1,306,723 1,440,938 1,384,346 1,328,491
Total interest-earning assets 1,240,905 1,353,495 1,302,282 1,267,959
Securities, at amortized cost 498,672 566,285 544,897 486,610
Loans (1) 668,265 733,561 696,343 664,351
Interest-bearing liabilities:
Savings accounts 306,162 290,894 296,049 313,663
Interest-bearing checking 193,480 240,475 214,357 193,987
Certificates of deposits 481,731 461,536 466,410 481,609
Mortgagors' payments held in escrow 10,135 8,849 13,577 9,539
Other borrowed funds 53,297 117,522 80,818 41,278
---------------- ---------------- ---------------- ----------------
Total interest-bearing liabilities 1,044,805 1,119,276 1,071,211 1,040,076
Interest-bearing deposits 991,508 1,001,754 990,393 998,798
Noninterest-bearing deposits 27,529 29,060 27,651 29,059
---------------- ---------------- ---------------- ----------------
Total deposits 1,019,037 1,030,814 1,018,044 1,027,857
Short-term borrowings 14,491 8,022 24,732 18,469
Long-term borrowings 38,306 109,500 56,086 22,809
Stockholders' equity 209,750 263,448 258,769 235,840
Common shares outstanding:
Basic 28,734 28,701 28,687 28,792
Diluted 28,734 28,701 28,687 28,792