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Pennsylvania Commerce Bancorp, Inc.
Selected Consolidated Financial Data
(Unaudited)
At or for the At or for the
Three Months Ended Nine Months Ended
September 30, September 30,
--------------------------- ----------------------------------
% %
( in thousands, except per share amounts) 2003 2002 Change 2003 2002 Change
---- ---- ------ ---- ---- ------
Income Statement Data:
Net interest income $ 8,150 $ 7,173 14 % $ 23,949 $ 20,214 18 %
Provision for loan losses 350 375 -7 % 1,200 1,090 10 %
Noninterest income 2,649 1,994 33 % 7,056 5,565 27 %
Noninterest operating expenses 8,213 6,584 25 % 22,668 18,513 22 %
Net income 1,526 1,467 + 4 % 4,832 4,104 + 18 %
Per Common Share Data:
Net income: Basic $ 0.70 $ 0.69 1 % $ 2.23 $ 1.97 13 %
Net income: Diluted 0.65 0.63 + 3 % 2.07 1.80 + 15 %
Book Value $ 21.64 $ 19.05 + 14 %
Weighted average shares outstanding:
Basic 2,150 2,093 2,138 2,048
Diluted 2,323 2,295 2,304 2,252
Balance Sheet Data:
Total assets $957,970 $789,811 + 21 %
Loans ( net) 428,940 361,478 19 %
Allowance for loan losses 5,777 5,270 10 %
Investment Securities 391,122 280,740 39 %
Total deposits 894,608 731,503 22 %
Core deposits 842,437 681,383 24 %
Trust preferred securities 13,000 13,000
Stockholders' equity 47,689 41,033 + 16 %
Capital:
Stockholders' equity to total assets 4.98 % 5.20 %
Leverage Ratio 6.86 7.34
Risk based capital ratios:
Tier 1 10.20 10.75
Total Capital 11.18 11.83
Performance Ratios:
Cost of funds 1.34 % 2.15 % 1.54 % 2.32 %
Net interest margin 4.07 4.28 4.18 4.35
Return on average assets 0.69 0.81 0.77 0.82
Return on average total stockholders' equity 13.28 14.49 14.30 14.82
Asset Quality:
Net charge-offs to average loans outstanding 0.14 % 0.10 %
Nonperforming loans to total period-end loans 0.28 0.55
Nonperforming assets to total period-end assets 0.15 0.27
Allowance for loan losses to total period-end loans 1.33 1.44
Allowance for loan losses to nonperforming loans 472 % 258 %