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,
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% %
(in thousands, except per share amounts) 2004 2003 Change 2004 2003 Change
---- ---- ------ ---- ---- ------
Income Statement Data:
Net interest income $ 11,883 $ 8,150 46 % $ 34,492 $ 23,949 44 %
Provision for loan losses 675 350 93 % 1,925 1,200 60 %
Noninterest income 2,949 2,649 11 % 8,251 7,056 17 %
Noninterest operating expenses 10,890 8,213 33 % 31,456 22,668 39 %
Net income 2,198 1,526 + 44 % 6,307 4,832 + 31 %
Per Common Share Data:
Net income: Basic $ 0.93 $ 0.67 39 % $ 2.70 $ 2.13 27 %
Net income: Diluted 0.86 0.62 + 39 % 2.49 1.97 + 26 %
Book Value $ 24.87 $ 20.61 + 21 %
Weighted average shares outstanding:
Basic 2,336 2,258 2,317 2,245
Diluted 2,525 2,439 2,513 2,419
Balance Sheet Data:
Total assets $1,205,181 $ 957,970 + 26 %
Loans (net) 611,088 428,940 42 %
Allowance for loan losses 7,175 5,777 24 %
Investment Securities 487,049 391,122 25 %
Total deposits 1,124,906 894,608 26 %
Core deposits 1,089,626 842,437 29 %
Jr. Subordinated Debt 13,600 0
Trust capital securities 0 13,000
Stockholders' equity 61,861 47,689 + 30 %
Capital:
Stockholders' equity to total assets 5.13 % 4.98 %
Leverage Ratio 6.21 6.86
Risk based capital ratios:
Tier 1 9.36 10.20
Total Capital 10.26 11.18
Performance Ratios:
Cost of funds 1.33 % 1.34 % 1.24 % 1.54 %
Deposit Cost of Funds 1.08 1.17 0.97 1.36
Net interest margin 4.23 4.07 4.33 4.18
Return on average assets 0.73 0.69 0.74 0.77
Return on average total stockholders' equity 15.75 13.28 15.91 14.30
Asset Quality:
Net charge-offs to average loans outstanding 0.13 % 0.14 %
Nonperforming loans to total period-end loans 0.27 0.28
Nonperforming assets to total period-end assets 0.20 0.15
Allowance for loan losses to total period-end loans 1.16 1.33
Allowance for loan losses to nonperforming loans 436 % 472 %