Pennsylvania Commerce Bancorp, Inc.
Selected Consolidated Financial Data
(Unaudited)
At or for the
Three Months Ended
March 31,
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%
( in thousands, except per share amounts) 2004 2003 Change
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Income Statement Data:
Net interest income $ 10,968 $ 7,604 44 %
Provision for loan losses 575 325 77 %
Noninterest income 2,586 2,191 18 %
Noninterest operating expenses 10,117 7,028 44 %
Net income 1,928 1,648 + 17 %
Per Common Share Data:
Net income: Basic $ 0.83 $ 0.73 14 %
Net income: Diluted 0.76 0.68 + 12 %
Book Value $ 22.87 $ 19.39 + 18 %
Weighted average shares outstanding:
Basic 2,302 2,231
Diluted 2,518 2,402
Balance Sheet Data:
Total assets $1,097,226 $835,099 + 31 %
Loans (net) 507,156 377,631 34 %
Allowance for loan losses 6,519 5,434 20 %
Investment Securities 503,707 367,135 37 %
Total deposits 937,217 774,359 21 %
Core deposits 888,832 710,166 25 %
Jr. Subordinated Debt 13,600 0
Trust capital securities 0 13,000
Stockholders' equity 53,855 44,479 + 21 %
Capital:
Stockholders' equity to total assets 4.91 % 5.33 %
Leverage Ratio 6.06 7.00
Risk based capital ratios:
Tier 1 9.42 10.96
Total Capital 10.38 12.02
Performance Ratios:
Cost of funds 1.18 % 1.75 %
Deposit Cost of Funds 0.92 1.56
Net interest margin 4.42 4.15
Return on average assets 0.73 0.83
Return on average total stockholders' equity 14.87 15.20
Asset Quality:
Net charge-offs to average loans outstanding 0.01 % 0.01 %
Nonperforming loans to total period-end loans 0.28 0.23
Nonperforming assets to total period-end assets 0.15 0.14
Allowance for loan losses to total period-end loans 1.27 1.42
Allowance for loan losses to nonperforming loans 448 % 615 %