Pennsylvania Commerce Bancorp, Inc.
Selected Consolidated Financial Data
(Unaudited)
At or for the At or for the
Three Months Ended Twelve Months Ended
December 31, December 31,
-------------------------------- ----------------------------------
% %
(in thousands, except per share amounts) 2003 2002 Change 2003 2002 Change
------- ------- ------ -------- -------- ------
Income Statement Data:
Net interest income $ 9,941 $ 7,487 33 % $ 33,890 $ 27,701 22 %
Provision for loan losses 495 345 43 % 1,695 1,435 18 %
Noninterest income 2,934 2,142 37 % 9,990 7,707 30 %
Noninterest operating expenses 9,842 6,915 42 % 32,510 25,428 28 %
Net income 1,725 1,570 + 10 % 6,557 5,674 + 16 %
Per Common Share Data:
Net income: Basic $ 0.79 $ 0.73 8 % $ 3.02 $ 2.71 11 %
Net income: Diluted 0.72 0.69 + 4 % 2.81 2.48 + 13 %
Book Value $ 22.43 $ 19.05 + 18 %
Weighted average shares outstanding:
Basic 2,168 2,107 2,146 2,063
Diluted 2,354 2,284 2,303 2,252
Balance Sheet Data:
Total assets $1,052,246 $786,598 + 34 %
Loans ( net) 469,937 363,735 29 %
Allowance for loan losses 6,007 5,146 17 %
Investment Securities 484,354 303,061 60 %
Total deposits 906,527 726,955 25 %
Core deposits 857,978 687,145 25 %
Trust preferred securities 13,000 13,000
Stockholders' equity 49,990 42,812 + 17 %
Capital:
Stockholders' equity to total assets 4.75 % 5.44 %
Leverage Ratio 6.19 7.00
Risk based capital ratios:
Tier 1 9.57 11.16
Total Capital 10.49 12.22
Performance Ratios:
Cost of funds 1.22 % 1.94 % 1.44 % 2.22 %
Deposit Cost of Funds 0.99 1.75 1.25 2.01
Net interest margin 4.20 4.14 4.20 4.29
Return on average assets 0.68 0.80 0.74 0.82
Return on average total stockholders' equity 14.16 14.98 14.27 14.86
Asset Quality:
Net charge-offs to average loans outstanding 0.20 % 0.23 %
Nonperforming loans to total period-end loans 0.25 0.45
Nonperforming assets to total period-end assets 0.13 0.23
Allowance for loan losses to total period-end loans 1.26 1.40
Allowance for loan losses to nonperforming loans 513 % 311 %