Pennsylvania Commerce Bancorp, Inc.
Selected Consolidated Financial Data
(Unaudited)
Three Months Ended
March 31,
----------------------------------------------------------------
%
( in thousands, except per share amounts) 2003 2002 Change
--------------------- ---------------------- -----------
Income Statement Data:
Net interest income $ 7,604 $ 6,298 21 %
Provision for loan losses 325 435 (25) %
Noninterest income 2,191 1,823 20 %
Noninterest operating expenses 7,028 5,747 22 %
Net income 1,648 1,290 + 28 %
Per Common Share Data:
Net income: Basic $ 0.77 $ 0.64 20 %
Net income: Diluted 0.71 0.57 + 25 %
Book Value $ 20.36 $ 16.60 + 23 %
Weighted average shares outstanding:
Basic 2,125 1,986
Diluted 2,288 2,226
Balance Sheet Data:
Total assets $ 835,099 $ 639,089 + 31 %
Loans ( net) 377,631 345,571 9 %
Allowance for loan losses 5,434 4,785 14 %
Investment Securities 369,502 212,724 74 %
Total deposits 774,359 588,371 32 %
Core deposits 710,166 547,520 30 %
Trust preferred securities 13,000 13,000
Stockholders' equity 44,479 34,266 + 30 %
Capital:
Stockholders' equity to total assets 5.33 % 5.36 %
Leverage Ratio 7.02 7.43
Risk based capital ratios:
Tier 1 10.95 10.34
Total Capital 12.01 11.72
Performance Ratios:
Cost of funds 1.75 % 2.50 %
Net interest margin 4.16 4.38
Return on average assets 0.83 0.84
Return on average total stockholders' equity 15.20 15.50
Asset Quality:
Net charge-offs to average loans outstanding 0.01 % 0.05 %
Nonperforming loans to total period-end loans 0.19 0.37
Nonperforming assets to total period-end assets 0.12 0.22
Allowance for loan losses to total period-end loans 1.42 1.37
Allowance for loan losses to nonperforming loans 766 % 370 %