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) 2004 2003 Change 2004 2003 Change
----------- ------------ -------- ---------- ---------- --------
Income Statement Data:
Net interest income $ 12,093 $ 9,941 22 % $ 46,585 $ 33,890 37 %
Provision for loan losses 721 495 46 % 2,646 1,695 56 %
Noninterest income 3,045 2,934 4 % 11,296 9,990 13 %
Noninterest operating expenses 11,010 9,842 12 % 42,466 32,510 31 %
Net income 2,284 1,725 + 32 % 8,591 6,557 + 31 %
Per Common Share Data:
Net income: Basic $ 0.82 $ 0.75 9 % $ 3.51 $ 2.88 22 %
Net income: Diluted 0.77 0.69 + 12 % 3.26 2.68 + 22 %
Book Value $ 28.62 $ 21.24 + 35 %
Weighted average shares outstanding:
Basic 2,758 2,277 2,428 2,253
Diluted 2,956 2,472 2,609 2,418
Balance Sheet Data:
Total assets $1,277,367 $1,051,989 + 21 %
Loans (net) 638,496 469,937 36 %
Allowance for loan losses 7,847 6,007 31 %
Investment Securities 523,982 475,263 10 %
Total deposits 1,160,547 906,527 28 %
Core deposits 1,122,524 857,978 31 %
Stockholders' equity 85,039 49,724 + 71 %
Capital:
Stockholders' equity to total assets 6.66 % 4.73 %
Leverage Ratio 7.79 6.19
Risk based capital ratios:
Tier 1 11.57 9.57
Total Capital 12.49 10.49
Performance Ratios:
Cost of funds 1.55 % 1.22 % 1.32 % 1.44 %
Deposit Cost of Funds 1.41 0.99 1.09 1.25
Net interest margin 4.12 4.20 4.28 4.20
Return on average assets 0.72 0.68 0.73 0.74
Return on average total stockholders' equity 12.36 14.16 14.78 14.27
Asset Quality:
Net charge-offs to average loans outstanding 0.14 % 0.20 %
Nonperforming loans to total period-end loans 0.13 0.25
Nonperforming assets to total period-end assets 0.11 0.13
Allowance for loan losses to total period-end loans 1.21 1.26
Allowance for loan losses to nonperforming loans 916 % 513 %