WYOMISSING, Pa., Oct. 25, 2011 /PRNewswire/ -- VIST Financial
Corp. (NASDAQ: VIST) reported net income of $1.4 million for the third quarter of 2011, as
compared to a net loss of $602,000
for the same period in 2010. Basic and diluted earnings per
common share were $0.15 for the third
quarter of 2011, as compared to basic and diluted losses per common
share of $0.16 for the same period in
2010.
For the first nine months of 2011, the Company reported net
income of $3.2 million, as compared
to $2.6 million for the same period
in 2010. Basic and diluted earnings per common share were
$0.30 for the first nine months of
2011, as compared to basic and diluted earnings per common share of
$0.22 for the same period in 2010.
The improved operating results for the third quarter and the
first nine months of 2011, as compared to the same periods in 2010,
resulted from a significant increase in net interest income, a
reduction of loan loss provision and fewer losses on the sale of
other real estate owned. The operating results for the first
nine months of 2010 reflected a gain of approximately $1.9 million on the sale of a 25% equity interest
in First HSA, LLC related to the transfer of approximately
$89.0 million of health savings
account deposits.
Commenting on the third quarter 2011 results, Robert D. Davis, President and Chief Executive
Officer of VIST Financial Corp. said, "We are pleased with the
progress we are making this year on a linked quarter basis through
September 30, 2011 with both our core
operating results and reported net income of $1.4 million for the third quarter. Our
financial results will continue to be influenced for the balance of
the year with elevated asset quality costs and the potential of
additional OTTI charges. Our near term forecast contemplates
a slow but steady improvement in our regional business
climate."
Davis stated, "As we entered the third quarter of this year at
VIST Bank, our commercial loan pipeline was strong which suggested
we would experience growth in the third quarter. This growth
did not materialize due in great part to the turmoil this summer in
the capital markets, which clearly eroded both business and
consumer confidence. Our asset quality metrics remain stable
with non-performing assets to total assets of 2.46%. At
September 30, 2011, our allowance for
loan losses provided adequate coverage of both total loans and
non-performing loans."
Davis continued, "In July of this year, VIST Financial filed an
S-1 Registration statement with the SEC. The Company's existing
capital ratios continue to exceed all regulatory guidelines for a
well-capitalized institution; and given the present volatility and
uncertainty of the equity markets, we are evaluating capital
alternatives both in terms of timing and the amount of capital to
be raised."
Davis concluded, "We are pleased that our board of directors has
declared a cash dividend. By this action, our board respects
both the need to preserve capital while demonstrating confidence in
our future operating results."
Net interest income increased $4.6
million, or 15%, to $34.6
million for the first nine months of 2011, as compared to
$30.0 million for the same period in
2010. The increase in net interest income was primarily the
result of a higher level of loans, which was attributable to the
covered loans acquired in the Allegiance acquisition and strong
commercial loan growth during the fourth quarter of 2010. The
average balance of loans (including covered loans) for the first
nine months of 2011 increased by $88.2
million or 10%, to $993.7
million, as compared to $905.4
million for the same period in 2010. The cost of
interest-bearing deposits for the first nine months of 2011
decreased to 1.45%, as compared to 1.80% for same period in 2010.
The Corporation's taxable-equivalent net interest margin
percentage for the first nine months of 2011, improved to 3.63% as
compared to 3.44% for same period in 2010.
The provision for loan losses was $6.1
million for the first nine months of 2011, as compared to
$8.2 million for the same period in
2010. The elevated provision for loan losses for the first nine
months of 2010 was reflective of higher charge-offs in 2010 and an
increase in the specific allowance required on impaired loans due
to underlying collateral values being more depressed in 2010. The
allowance for loan losses as a percentage of total loans increased
to 1.67% at September 30, 2011, as
compared to 1.55% at December 31,
2010 and September 30, 2010.
The increased level of the allowance for loan losses reflects
continued credit risk related to certain commercial credits that
remain stressed as a result of the prolonged economic downturn. The
Corporation closely monitors the loan portfolio and the adequacy of
the loan loss reserve by regularly evaluating borrower financial
performance, underlying collateral values and other relevant
factors. At September 30, 2011,
non-covered non-performing loans were $32.2
million or 3.5% of non-covered loans compared to
$27.1 million or 2.8% of non-covered
loans at December 31, 2010.
Total assets increased by approximately $125.0 million or 9%, to $1.49 billion at September
30, 2011 from $1.36 billion at
September 30, 2010. Total deposits
increased by approximately $137.1
million or 13%, to $1.22
billion at September 30, 2011
from $1.08 billion at September 30, 2010. In addition to the
deposits assumed in the Allegiance acquisition, deposit growth has
been attributable to our ability to attract and retain lower cost
core deposits.
Declaration of Cash Dividend
The Corporation reported that the Board of Directors declared a
cash dividend of $0.05 per share on
the Company's common stock to shareholders of record on
November 3, 2011 payable November 15, 2011.
VIST Financial Corp. is diversified financial services
company headquartered in Wyomissing,
PA, offering banking, insurance, investments, and wealth
management services throughout Berks, Southern
Schuylkill, Montgomery,
Delaware, Philadelphia and Chester Counties.
This release may contain forward-looking statements with
respect to the Company's beliefs, plans, objectives, goals,
expectations, anticipations, estimates, and intentions that are
subject to significant risks and uncertainties, and are subject to
change based on various factors, some of which are beyond the
Company's control. The Company does not undertake to update any
forward-looking statement, whether written or oral, that may be
made from time to time by or on behalf of the Company.
Quarterly Shareholder and Investor Conference Call
VIST Financial Corp. will host a quarterly investor conference
call on Wednesday, October 26, 2011
at 8:30 a.m. ET. Interested parties
can join the conference call and ask questions by dialing
877.317.6789 or listening through the computer by clicking on the
following link:
https://services.choruscall.com/links/vist111026.html
The conference call can also be accessed through a link located
under the Investor Relations page within VIST Financial
Corp's website: www.VISTfc.com.
To replay the conference call, dial 877.344.7529 (Conference #
10004931) which will be available one hour after the end of the
call on October 26, 2011. The
conference call will be archived for 90 days and will be available
at the link above and on the Company's Investor Relations webpage.
|
VIST
FINANCIAL CORP. AND SUBSIDIARIES
|
|
|
CONSOLIDATED
BALANCE SHEETS
|
|
|
(Unaudited;
in thousands, except share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September
30,
|
|
December
31,
|
|
September
30,
|
|
|
2011
|
|
2010
|
|
2010
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
Cash and due from banks
|
$
16,067
|
|
$
15,443
|
|
$
15,163
|
|
|
Federal funds sold
|
-
|
|
1,500
|
|
54,050
|
|
|
Interest-bearing deposits in
banks
|
39,428
|
|
872
|
|
31
|
|
|
Total cash and cash equivalents
|
55,495
|
|
17,815
|
|
69,244
|
|
|
|
|
|
|
|
|
|
Securities available for sale
|
347,522
|
|
279,755
|
|
270,049
|
|
|
Securities held to maturity,
fair value of $2,491 at September 30, 2011; $1,888
|
|
|
|
|
|
|
|
at December 31,
2010; and $1,955 at September 30, 2010
|
2,584
|
|
2,022
|
|
2,090
|
|
|
Federal Home Loan Bank stock
|
6,100
|
|
7,099
|
|
5,715
|
|
|
Mortgage loans held for sale
|
1,772
|
|
3,695
|
|
3,390
|
|
|
|
|
|
|
|
|
|
Loans
|
927,850
|
|
954,363
|
|
927,579
|
|
|
Allowance for loan
losses
|
(15,458)
|
|
(14,790)
|
|
(14,418)
|
|
|
Net loans
|
912,392
|
|
939,573
|
|
913,161
|
|
|
|
|
|
|
|
|
|
Covered loans
|
57,032
|
|
66,770
|
|
-
|
|
|
Premises and equipment, net
|
6,515
|
|
5,639
|
|
5,781
|
|
|
Other real estate owned
|
2,849
|
|
5,303
|
|
3,531
|
|
|
Covered other real estate owned
|
596
|
|
247
|
|
-
|
|
|
Goodwill
|
42,108
|
|
41,858
|
|
40,249
|
|
|
Identifiable intangible assets,
net
|
3,385
|
|
3,795
|
|
4,265
|
|
|
Bank owned life insurance
|
19,710
|
|
19,373
|
|
19,252
|
|
|
FDIC prepaid deposit insurance
|
2,911
|
|
3,985
|
|
4,429
|
|
|
FDIC indemnification asset
|
6,816
|
|
7,003
|
|
-
|
|
|
Other assets
|
17,947
|
|
21,080
|
|
19,544
|
|
|
|
|
|
|
|
|
|
Total assets
|
$
1,485,734
|
|
$
1,425,012
|
|
$
1,360,700
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS’
EQUITY
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
Non-interest bearing
|
$
116,543
|
|
$
122,450
|
|
$
110,378
|
|
|
Interest bearing
|
1,098,961
|
|
1,026,830
|
|
968,024
|
|
|
Total deposits
|
1,215,504
|
|
1,149,280
|
|
1,078,402
|
|
|
|
|
|
|
|
|
|
Repurchase agreements
|
103,917
|
|
106,843
|
|
108,885
|
|
|
Federal funds purchased
|
-
|
|
-
|
|
-
|
|
|
Borrowings
|
-
|
|
10,000
|
|
10,000
|
|
|
Junior subordinated debt, at
fair value
|
18,591
|
|
18,437
|
|
18,012
|
|
|
Other liabilities
|
6,708
|
|
8,005
|
|
9,611
|
|
|
Total liabilities
|
1,344,720
|
|
1,292,565
|
|
1,224,910
|
|
|
|
|
|
|
|
|
|
Shareholders' equity:
|
|
|
|
|
|
|
|
Preferred stock: $0.01 par
value; authorized 1,000,000 shares; $1,000 liquidation
|
|
|
|
|
|
|
|
preference per
share; 25,000 shares of Series A 5% (increasing to 9% in 2014)
cumulative
|
|
|
|
|
|
|
|
preferred stock
issued and outstanding; Less: discount of $1,136 at September 30,
2011;
|
|
|
|
|
|
|
|
$1,480 at December
31, 2010 ; and $1,587 at September 30, 2010
|
23,864
|
|
23,520
|
|
23,413
|
|
|
Common stock, $5.00 par value;
authorized 20,000,000 shares; issued:
|
|
|
|
|
|
|
|
6,593,435 shares at
September 30, 2011; 6,546,273 shares at December 31,
2010;
|
|
|
|
|
|
|
|
and 6,525,010
shares at September 30, 2010
|
32,968
|
|
32,732
|
|
32,625
|
|
|
Stock warrant
|
2,307
|
|
2,307
|
|
2,307
|
|
|
Surplus
|
65,741
|
|
65,506
|
|
65,521
|
|
|
Retained earnings
|
13,928
|
|
12,960
|
|
12,359
|
|
|
Accumulated other comprehensive
income (loss)
|
2,397
|
|
(4,387)
|
|
(244)
|
|
|
Treasury stock: 10,484 shares at
cost
|
(191)
|
|
(191)
|
|
(191)
|
|
|
Total shareholders’ equity
|
141,014
|
|
132,447
|
|
135,790
|
|
|
|
|
|
|
|
|
|
Total liabilities and
shareholders’ equity
|
$
1,485,734
|
|
$
1,425,012
|
|
$
1,360,700
|
|
|
|
|
|
|
|
|
VIST
FINANCIAL CORP. AND SUBSIDIARIES
|
|
|
|
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
|
|
|
(Unaudited;
in thousands, except share data)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
September
30,
|
|
September
30,
|
|
|
|
2011
|
|
2010
|
|
2011
|
|
2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and dividend
income:
|
|
|
|
|
|
|
|
|
|
|
Interest and fees on loans
|
$ 13,434
|
|
$ 12,638
|
|
$ 40,920
|
|
$ 37,496
|
|
|
|
Interest on
securities:
|
|
|
|
|
|
|
|
|
|
|
Taxable
|
3,134
|
|
2,691
|
|
8,796
|
|
8,532
|
|
|
|
Tax-exempt
|
311
|
|
423
|
|
979
|
|
1,269
|
|
|
|
Dividend income
|
21
|
|
21
|
|
65
|
|
39
|
|
|
|
Other interest income
|
21
|
|
15
|
|
36
|
|
289
|
|
|
|
Total interest and dividend
income
|
16,921
|
|
15,788
|
|
50,796
|
|
47,625
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense:
|
|
|
|
|
|
|
|
|
|
|
Interest on deposits
|
3,793
|
|
3,954
|
|
11,409
|
|
12,694
|
|
|
|
Interest on short-term
borrowings
|
1
|
|
-
|
|
1
|
|
18
|
|
|
|
Interest on repurchase
agreements
|
1,201
|
|
1,205
|
|
3,564
|
|
3,585
|
|
|
|
Interest on
borrowings
|
-
|
|
90
|
|
7
|
|
277
|
|
|
|
Interest on junior subordinated
debt
|
410
|
|
363
|
|
1,223
|
|
1,052
|
|
|
|
Total interest expense
|
5,405
|
|
5,612
|
|
16,204
|
|
17,626
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
|
11,516
|
|
10,176
|
|
34,592
|
|
29,999
|
|
|
|
Provision for loan losses
|
1,977
|
|
3,550
|
|
6,067
|
|
8,160
|
|
|
|
Net interest income after
provision for loan losses
|
9,539
|
|
6,626
|
|
28,525
|
|
21,839
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest
income:
|
|
|
|
|
|
|
|
|
|
|
Commissions and fees from
insurance sales
|
3,139
|
|
3,024
|
|
9,152
|
|
9,192
|
|
|
|
Customer service fees
|
427
|
|
478
|
|
1,277
|
|
1,610
|
|
|
|
Mortgage banking activities
|
209
|
|
266
|
|
527
|
|
631
|
|
|
|
Brokerage and investment
advisory commissions and fees
|
152
|
|
279
|
|
489
|
|
565
|
|
|
|
Earnings on bank owned life
insurance
|
119
|
|
111
|
|
337
|
|
302
|
|
|
|
Other commissions and fees
|
448
|
|
402
|
|
1,364
|
|
1,464
|
|
|
|
Gain on sale of equity interest
|
-
|
|
-
|
|
-
|
|
1,875
|
|
|
|
Loss on sale of other real
estate owned
|
(168)
|
|
(838)
|
|
(1,180)
|
|
(1,432)
|
|
|
|
Other (loss) income
|
(91)
|
|
223
|
|
(114)
|
|
464
|
|
|
|
Net realized gains on sales of
securities
|
490
|
|
179
|
|
872
|
|
465
|
|
|
|
Total other-than-temporary
impairment losses:
|
|
|
|
|
|
|
|
|
|
|
Total other-than-temporary
impairment losses on investments
|
507
|
|
(785)
|
|
309
|
|
(783)
|
|
|
|
Portion of loss recognized
in other comprehensive income
|
(1,113)
|
|
163
|
|
(1,221)
|
|
12
|
|
|
|
Net credit impairment loss
recognized in earnings
|
(606)
|
|
(622)
|
|
(912)
|
|
(771)
|
|
|
|
Total non-interest income
|
4,119
|
|
3,502
|
|
11,812
|
|
14,365
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest
expense:
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee benefits
|
6,102
|
|
5,584
|
|
18,002
|
|
16,422
|
|
|
|
Occupancy expense
|
1,173
|
|
1,057
|
|
3,666
|
|
3,274
|
|
|
|
Furniture and equipment expense
|
670
|
|
655
|
|
2,064
|
|
1,941
|
|
|
|
Outside processing services
|
926
|
|
1,036
|
|
2,923
|
|
2,921
|
|
|
|
Professional services
|
863
|
|
750
|
|
2,666
|
|
2,104
|
|
|
|
Marketing and advertising
expense
|
339
|
|
285
|
|
1,224
|
|
792
|
|
|
|
FDIC deposit and other insurance
expense
|
215
|
|
612
|
|
1,440
|
|
1,668
|
|
|
|
Amortization of identifiable
intangible assets
|
135
|
|
146
|
|
410
|
|
417
|
|
|
|
Other real estate owned expense
|
589
|
|
687
|
|
1,413
|
|
1,785
|
|
|
|
Other expense
|
957
|
|
967
|
|
2,680
|
|
2,816
|
|
|
|
Total non-interest expense
|
11,969
|
|
11,779
|
|
36,488
|
|
34,140
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income
taxes
|
1,689
|
|
(1,651)
|
|
3,849
|
|
2,064
|
|
|
|
Income tax expense
(benefit)
|
270
|
|
(1,049)
|
|
616
|
|
(573)
|
|
|
|
Net income (loss)
|
1,419
|
|
(602)
|
|
3,233
|
|
2,637
|
|
|
|
Preferred stock dividends and
discount accretion
|
427
|
|
420
|
|
1,282
|
|
1,259
|
|
|
|
Net income (loss) available to
common shareholders
|
$
992
|
|
$ (1,022)
|
|
$ 1,951
|
|
$ 1,378
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS PER SHARE
DATA
|
|
|
|
|
|
|
|
|
|
|
Average shares outstanding for
basic earnings per common share
|
6,579,850
|
|
6,511,195
|
|
6,571,411
|
|
6,192,250
|
|
|
|
Basic earnings per common share
|
$ 0.15
|
|
$ (0.16)
|
|
$ 0.30
|
|
$ 0.22
|
|
|
|
Average shares outstanding for
diluted earnings per common share
|
6,603,398
|
|
6,551,278
|
|
6,612,204
|
|
6,236,889
|
|
|
|
Diluted earnings per common
share
|
$ 0.15
|
|
$ (0.16)
|
|
$ 0.30
|
|
$ 0.22
|
|
|
|
Cash dividends declared per
actual common shares outstanding
|
$ 0.05
|
|
$ 0.05
|
|
$ 0.15
|
|
$ 0.15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
margin
|
3.50
|
%
|
3.48
|
%
|
3.63
|
%
|
3.44
|
%
|
|
|
|
|
|
|
|
|
|
|
|
VIST
FINANCIAL CORP. AND SUBSIDIARIES
|
|
|
CONSOLIDATED
SELECTED FINANCIAL DATA
|
|
|
(Unaudited;
Dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As Of and
For The Three-Month Period Ended
|
|
|
|
|
|
|
|
|
|
|
|
September
30,
|
|
June
30,
|
|
March
31,
|
|
December
31,
|
|
September
30,
|
|
|
|
|
2011
|
|
2011
|
|
2011
|
|
2010
|
|
2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans outstanding
|
|
$
927,850
|
|
$ 933,068
|
|
$ 926,194
|
|
$
954,363
|
|
$
927,579
|
|
|
Covered loans
outstanding
|
|
57,032
|
|
58,954
|
|
62,818
|
|
66770
|
|
n/a
|
|
|
Troubled debt restructurings
(accruing)
|
|
6,683
|
|
8,790
|
|
11,115
|
|
10,772
|
|
12,975
|
|
|
Allowance for loan
losses
|
|
15,458
|
|
15,439
|
|
15,283
|
|
14,790
|
|
14,418
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NON-PERFORMING
ASSETS:
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-accrual
loans
|
|
$
31,919
|
|
$ 30,273
|
|
$ 28,120
|
|
$
26,513
|
|
$
25,938
|
|
|
Loans past due 90 days or
more still accruing
|
|
306
|
|
215
|
|
456
|
|
594
|
|
196
|
|
|
Total non-performing
loans
|
|
32,225
|
|
30,488
|
|
28,576
|
|
27,107
|
|
26,134
|
|
|
Other real estate
owned
|
|
2,849
|
|
2,337
|
|
1,769
|
|
5,303
|
|
3,531
|
|
|
Total non-performing
assets
|
|
$
35,074
|
|
$ 32,825
|
|
$ 30,345
|
|
$
32,410
|
|
$
29,665
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSET
QUALITY STATISTICS:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net charge-offs to average
loans (annualized)
|
|
0.84%
|
|
0.74%
|
|
0.74%
|
|
0.75%
|
|
0.77%
|
|
|
Allowance for loan losses
as a percent of loans
|
|
1.67%
|
|
1.65%
|
|
1.65%
|
|
1.55%
|
|
1.55%
|
|
|
Allowance for loan losses
as a percent of non-performing loans
|
|
47.97%
|
|
50.64%
|
|
53.48%
|
|
54.56%
|
|
55.17%
|
|
|
Allowance for loan losses
as a percent of non-performing assets
|
|
44.07%
|
|
47.03%
|
|
50.36%
|
|
45.63%
|
|
48.60%
|
|
|
Net charge-offs
|
|
1,958
|
|
1,704
|
|
1,737
|
|
1,678
|
|
1,957
|
|
|
Non-performing assets to
total assets *
|
|
2.46%
|
|
2.35%
|
|
2.25%
|
|
2.39%
|
|
2.18%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NON-PERFORMING COVERED
ASSETS:
|
|
|
|
|
|
|
|
|
|
|
|
|
Covered non-accrual
loans
|
|
$
5,739
|
|
$ 5,805
|
|
$ 4,036
|
|
$
4,408
|
|
n/a
|
|
|
Covered other real estate
owned
|
|
596
|
|
520
|
|
711
|
|
247
|
|
n/a
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Excludes covered
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VIST
FINANCIAL CORP. AND SUBSIDIARIES
|
|
|
CONSOLIDATED
SELECTED FINANCIAL DATA
|
|
|
(Unaudited;
Dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
Balance Sheet
|
|
|
|
|
For the
Three Months Ended
|
For the Nine
Months Ended
|
|
|
|
|
September
30,
|
|
September
30,
|
|
|
|
|
2011
|
|
2010
|
|
2011
|
|
2010
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
Federal funds sold
|
|
|
$
-
|
|
$
43,386
|
|
$
7,281
|
|
$
26,439
|
|
|
Interest bearing deposits in
banks
|
|
|
18,722
|
|
113
|
|
8,369
|
|
23,650
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Securities
|
345,700
|
|
263,657
|
|
310,405
|
|
268,585
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage loans held for
sale
|
1,808
|
|
2,645
|
|
1,423
|
|
1,896
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans:
|
|
|
|
|
|
|
|
|
|
Commercial
loans
|
772,297
|
|
732,026
|
|
771,780
|
|
727,123
|
|
|
Consumer loans
|
106,974
|
|
122,261
|
|
110,821
|
|
126,346
|
|
|
Mortgage loans
|
47,935
|
|
53,120
|
|
50,340
|
|
50,076
|
|
|
Total loans
|
927,206
|
|
907,407
|
|
932,941
|
|
903,545
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Covered loans
|
58,013
|
|
-
|
|
59,290
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest earning
assets
|
1,351,449
|
|
1,217,208
|
|
1,319,709
|
|
1,224,115
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goodwill and intangible
assets
|
45,328
|
|
44,357
|
|
45,463
|
|
44,157
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non interest-earning
assets
|
64,086
|
|
65,396
|
|
70,616
|
|
71,714
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
$ 1,460,863
|
|
$ 1,326,961
|
|
$ 1,435,788
|
|
$ 1,339,986
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and shareholders'
equity
|
|
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
|
|
Non-interest bearing
|
$
118,465
|
|
$
114,340
|
|
$
119,023
|
|
$
109,257
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing:
|
|
|
|
|
|
|
|
|
|
NOW, money market and
savings
|
608,012
|
|
475,332
|
|
573,883
|
|
502,360
|
|
|
Time deposits
|
465,592
|
|
453,310
|
|
475,716
|
|
442,492
|
|
|
Total interest bearing
deposits
|
1,073,604
|
|
928,642
|
|
1,049,599
|
|
944,852
|
|
|
Total deposits
|
1,192,069
|
|
1,042,982
|
|
1,168,622
|
|
1,054,109
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repurchase agreements
|
104,606
|
|
110,499
|
|
105,502
|
|
112,135
|
|
|
Federal funds
purchased
|
178
|
|
20
|
|
|
|
4,880
|
|
|
Borrowings
|
-
|
|
10,000
|
|
518
|
|
10,366
|
|
|
Junior subordinated
debt
|
18,472
|
|
19,294
|
|
18,501
|
|
19,553
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total interest bearing
liabilities
|
1,196,860
|
|
1,068,455
|
|
1,174,120
|
|
1,091,786
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest bearing
liabilities
|
7,127
|
|
8,265
|
|
7,660
|
|
8,177
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders' equity
|
138,411
|
|
135,901
|
|
134,985
|
|
130,766
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and
shareholders equity
|
$ 1,460,863
|
|
$ 1,326,961
|
|
$ 1,435,788
|
|
$ 1,339,986
|
|
|
|
|
|
|
|
|
|
|
|
SOURCE VIST Financial Corp.