WYOMISSING, Pa., July 26, 2011 /PRNewswire/ -- VIST Financial
Corp. (NASDAQ: VIST) reported net income of $1.3 million for the second quarter of 2011, as
compared to $2.5 million for the same
period in 2010. Basic and diluted earnings per common share
were $0.14 for the second quarter of
2011, as compared to basic and diluted earnings per common share of
$0.34 for the same period in 2010.
Excluding a non-recurring $1.9
million gain recognized during the second quarter of 2010,
pre-tax income for the quarter increased by 42%, as compared to the
same period in 2010.
For the first six months of 2011, the Company reported net
income of $1.8 million, as compared
to $3.2 million for the same period
in 2010. Basic and diluted earnings per common share were
$0.15 for the first six months of
2011, as compared to basic and diluted earnings per common share of
$0.40 for the same period in 2010.
The operating results for the second quarter and for the first
six months of 2011 were negatively impacted by (i) $200,000 and $1.0
million, respectively, of net losses recognized on the sale
of other real estate owned, as compared to $600,000 for both of the same periods in 2010 and
(ii) approximately $400,000 of
integration expenses associated with the previously announced
acquisition of Allegiance Bank of North
America ("Allegiance"). The operating results for the second
quarter and for the first six months of 2010 reflected a gain of
approximately $1.9 million recognized
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 in the second
quarter of 2010.
Commenting on the second quarter 2011 results, Robert D. Davis, President and Chief Executive
Officer of VIST Financial Corp. said, "We are pleased with the
positive momentum building across our banking, insurance and
investment business lines. This momentum has resulted in our
second quarter reported net income of $1.3
million. While we are making progress on a linked
quarter basis, 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. In spite of the
slow pace of improvement in our regional business climate, we
continue to be optimistic about the future opportunities for VIST
Financial."
Davis stated, "At VIST Bank, our commercial loan pipeline is
strong which suggests an annual growth rate of 4-6% in 2011.
Our asset quality metrics remain stable with non-performing
assets to total assets of 2.35%. Net charge-offs for the
quarter totaled $1.7 million with
provision expense totaling $1.8
million, providing adequate coverage of both total loans and
non-performing loans at quarter end. VIST Insurance and VIST
Capital Management are both generating increased revenue for the
second quarter of 2011 as compared to the second quarter of
2010."
"As reported previously, the Allegiance Bank acquisition of
November 19, 2010, is now complete
and is accretive to shareholder return," Davis continued.
"All former Allegiance customers have been fully converted to
VIST Bank systems which will eliminate a significant portion of the
$400,000 merger and conversion
related expenses incurred in the first six months in 2011."
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 $3.3
million, or 16%, to $23.1
million for the first six months of 2011, as compared to
$19.8 million for the same period in
2010. The increase in net interest income for the first six
months of 2011 reflects a higher level of total loans resulting
from strong commercial loan growth, in addition to the covered
loans acquired in the Allegiance acquisition, and a reduction in
interest expense on deposits. The average balance of loans
(including covered loans) for the first six months of 2011
increased by $94.2 million or 10%, to
$995.8 million, as compared to
$901.6 million for the same period in
2010. The cost of interest-bearing deposits for the first six
months of 2011 decreased to 1.48%, as compared to 1.85% for same
period in 2010. The Corporation's taxable-equivalent net
interest margin percentage for the first six months of 2011,
improved to 3.70% as compared to 3.42% for same period in 2010.
The provision for loan losses was $4.1
million for the first six months of 2011, as compared to
$4.6 million for the same period in
2010. The allowance for loan losses as a percentage of total loans
increased to 1.65% at June 30, 2011,
as compared to 1.55% at December 31,
2010, and 1.43% at June 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. At June 30, 2011, total
non-performing assets were $32.8
million or 2.3% of total assets compared to $32.4 million or 2.4% of total assets at
December 31, 2010. 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.
Total assets increased by approximately $169.4 million or 13%, to $1.46 billion at June 30,
2011 from $1.29 billion at
June 30, 2010. Total deposits
increased by approximately $185.9
million or 18%, to $1.19
billion at June 30, 2011 from
$1.01 billion at June 30, 2010. In addition to the deposits
assumed in the Allegiance acquisition, our deposit growth has been
attributable to our ability to attract and retain lower cost core
deposits. In addition to the covered loans acquired in the
Allegiance acquisition, our loan growth has been the result of
strong commercial loan growth.
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
August 1, 2011 payable August 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, July 27, 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/visit110727.html
The conference call can also be accessed through a link located
under the Investor Relations page within VIST Financial
Corp's website: http://www.VISTfc.com.
To replay the conference call, dial 877.344.7529 (Conference #
10002291) which will be available one hour after the end of the
call on July 27, 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
|
|
|
UNAUDITED
CONSOLIDATED BALANCE SHEETS
|
|
|
(Dollar
amounts in thousands, except share data)
|
|
|
|
|
|
|
|
|
|
June
30,
|
|
December 31,
|
|
June
30,
|
|
|
2011
|
|
2010
|
|
2010
|
|
|
Assets
|
|
|
|
|
|
|
|
Cash and due from banks
|
$
16,719
|
|
$
15,443
|
|
$
25,357
|
|
|
Federal funds sold
|
2,021
|
|
1,500
|
|
7,385
|
|
|
Interest-bearing deposits in
banks
|
140
|
|
872
|
|
286
|
|
|
Total cash and cash
equivalents
|
18,880
|
|
17,815
|
|
33,028
|
|
|
|
|
|
|
|
|
|
Mortgage loans held for sale
|
1,536
|
|
3,695
|
|
3,109
|
|
|
Securities available for sale
|
348,256
|
|
279,755
|
|
261,292
|
|
|
Securities held to maturity
|
2,161
|
|
2,022
|
|
2,086
|
|
|
Federal Home Loan Bank
stock
|
6,416
|
|
7,099
|
|
5,715
|
|
|
Loans, net of allowance for loan
losses ($15,439 at June 30, 2011;
|
|
|
|
|
|
|
|
$14,790 at December 31, 2010 and
$12,825 at June 30, 2010)
|
917,629
|
|
939,573
|
|
882,759
|
|
|
Covered loans
|
58,954
|
|
66,770
|
|
-
|
|
|
Premises and equipment, net
|
6,555
|
|
5,639
|
|
5,976
|
|
|
Other real estate
owned
|
2,337
|
|
5,303
|
|
5,148
|
|
|
Covered other real estate
owned
|
520
|
|
247
|
|
-
|
|
|
Identifiable intangible
assets
|
3,521
|
|
3,795
|
|
4,411
|
|
|
Goodwill
|
41,858
|
|
41,858
|
|
39,999
|
|
|
Bank owned life
insurance
|
19,590
|
|
19,373
|
|
19,141
|
|
|
FDIC prepaid deposit
insurance
|
3,023
|
|
3,985
|
|
4,902
|
|
|
FDIC indemnification
asset
|
6,988
|
|
7,003
|
|
-
|
|
|
Other assets
|
19,799
|
|
21,080
|
|
21,038
|
|
|
Total assets
|
$ 1,458,023
|
|
$
1,425,012
|
|
$ 1,288,604
|
|
|
|
|
|
|
|
|
|
Liabilities and Shareholders'
Equity
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
Non-interest bearing
|
$
121,116
|
|
$
122,450
|
|
$
114,362
|
|
|
Interest bearing
|
1,070,306
|
|
1,026,830
|
|
891,210
|
|
|
Total deposits
|
1,191,422
|
|
1,149,280
|
|
1,005,572
|
|
|
Securities sold under agreements
to repurchase
|
105,131
|
|
106,843
|
|
110,384
|
|
|
Borrowings
|
-
|
|
10,000
|
|
10,000
|
|
|
Junior subordinated debt, at
fair value
|
18,470
|
|
18,437
|
|
19,308
|
|
|
Other liabilities
|
6,576
|
|
8,005
|
|
8,650
|
|
|
Total liabilities
|
1,321,599
|
|
1,292,565
|
|
1,153,914
|
|
|
|
|
|
|
|
|
|
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 $1,251 at June 30, 2011,
|
|
|
|
|
|
|
|
$1,480 at December 31,
2010 and $1,694 at June 30, 2010
|
23,749
|
|
23,520
|
|
23,306
|
|
|
Common stock, $5.00 par value;
authorized 20,000,000 shares
|
32,931
|
|
32,732
|
|
32,586
|
|
|
Stock Warrants
|
2,307
|
|
2,307
|
|
2,307
|
|
|
Surplus
|
65,621
|
|
65,506
|
|
65,466
|
|
|
Retained earnings
|
13,266
|
|
12,960
|
|
13,706
|
|
|
Accumulated other comprehensive
loss
|
(1,259)
|
|
(4,387)
|
|
(2,490)
|
|
|
Treasury stock: 10,484 shares at
cost
|
(191)
|
|
(191)
|
|
(191)
|
|
|
Total shareholders' equity
|
136,424
|
|
132,447
|
|
134,690
|
|
|
Total liabilities and
shareholders' equity
|
$ 1,458,023
|
|
$
1,425,012
|
|
$ 1,288,604
|
|
|
|
|
|
|
|
|
|
Common Stock:
|
|
|
|
|
|
|
|
Shares issued
|
6,586,106
|
|
6,546,273
|
|
6,517,124
|
|
|
Shares outstanding
|
6,575,622
|
|
6,535,789
|
|
6,506,640
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VIST
FINANCIAL CORP. AND SUBSIDIARIES
|
|
|
UNAUDITED
CONSOLIDATED STATEMENTS OF INCOME
|
|
|
(Dollar
amounts in thousands, except share data)
|
|
|
|
|
|
|
|
Three Months
Ended June 30,
|
|
Six Months
Ended June 30,
|
|
|
2011
|
|
2010
|
|
2011
|
|
2010
|
|
|
Interest and dividend
Income
|
|
|
|
|
|
|
|
|
|
Interest and fees on
loans
|
$ 13,507
|
|
$ 12,415
|
|
$ 27,486
|
|
$ 24,858
|
|
|
Interest on
securities:
|
|
|
|
|
|
|
|
|
|
Taxable
|
3,109
|
|
2,894
|
|
5,662
|
|
5,841
|
|
|
Tax-exempt
|
334
|
|
450
|
|
668
|
|
846
|
|
|
Dividend income
|
22
|
|
8
|
|
44
|
|
18
|
|
|
Other interest income
|
10
|
|
266
|
|
15
|
|
274
|
|
|
Total interest
income
|
16,982
|
|
16,033
|
|
33,875
|
|
31,837
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
|
|
|
|
|
|
|
|
Interest on deposits
|
3,832
|
|
4,238
|
|
7,616
|
|
8,740
|
|
|
Interest on short-term
borrowings
|
-
|
|
18
|
|
-
|
|
18
|
|
|
Interest on securities sold
under agreements to repurchase
|
1,187
|
|
1,198
|
|
2,363
|
|
2,380
|
|
|
Interest on
borrowings
|
-
|
|
89
|
|
7
|
|
187
|
|
|
Interest on junior subordinated
debt
|
407
|
|
344
|
|
813
|
|
689
|
|
|
Total interest expense
|
5,426
|
|
5,887
|
|
10,799
|
|
12,014
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
|
11,556
|
|
10,146
|
|
23,076
|
|
19,823
|
|
|
Provision for loan
losses
|
1,860
|
|
2,010
|
|
4,090
|
|
4,610
|
|
|
Net interest income after
provision for loan losses
|
9,696
|
|
8,136
|
|
18,986
|
|
15,213
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest
income:
|
|
|
|
|
|
|
|
|
|
Customer service fees
|
433
|
|
549
|
|
850
|
|
1,132
|
|
|
Mortgage banking activities,
net
|
149
|
|
231
|
|
318
|
|
365
|
|
|
Commissions and fees from
insurance sales
|
3,176
|
|
3,092
|
|
6,013
|
|
6,168
|
|
|
Broker and investment advisory
commissions and fees
|
157
|
|
151
|
|
337
|
|
286
|
|
|
Earnings on bank owned life
insurance
|
120
|
|
113
|
|
218
|
|
191
|
|
|
Other commissions and
fees
|
478
|
|
558
|
|
916
|
|
1,062
|
|
|
Gain on sale of equity
interest
|
-
|
|
1,875
|
|
-
|
|
1,875
|
|
|
Other (loss) income
|
(33)
|
|
198
|
|
(23)
|
|
241
|
|
|
Net losses on sale of other real
estate owned
|
(208)
|
|
(578)
|
|
(1,012)
|
|
(594)
|
|
|
Net realized gains on sales of
securities
|
293
|
|
194
|
|
382
|
|
286
|
|
|
Total other-than-temporary
impairment losses on investments
|
(206)
|
|
(6)
|
|
(198)
|
|
(946)
|
|
|
Portion of non-credit
impairment loss recognized
|
|
|
|
|
|
|
|
|
|
in other comprehensive
loss
|
(36)
|
|
(47)
|
|
(108)
|
|
797
|
|
|
Net credit impairment loss
recognized in earnings
|
(242)
|
|
(53)
|
|
(306)
|
|
(149)
|
|
|
|
|
|
|
|
|
|
|
|
Total non-interest
income
|
4,323
|
|
6,330
|
|
7,693
|
|
10,863
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest
expense:
|
|
|
|
|
|
|
|
|
|
Salaries and employee benefits
|
5,989
|
|
5,419
|
|
11,900
|
|
10,838
|
|
|
Occupancy expense
|
1,193
|
|
1,069
|
|
2,493
|
|
2,217
|
|
|
Furniture and equipment expense
|
729
|
|
662
|
|
1,394
|
|
1,286
|
|
|
Marketing and advertising
expense
|
566
|
|
261
|
|
885
|
|
507
|
|
|
Identifiable intangible
amortization
|
137
|
|
138
|
|
275
|
|
271
|
|
|
Professional services
|
747
|
|
745
|
|
1,803
|
|
1,354
|
|
|
Outside processing
expense
|
928
|
|
854
|
|
1,997
|
|
1,885
|
|
|
FDIC deposit and other insurance
expense
|
542
|
|
524
|
|
1,225
|
|
1,056
|
|
|
Other real estate owned
expense
|
412
|
|
617
|
|
824
|
|
1,098
|
|
|
Other expense
|
918
|
|
997
|
|
1,723
|
|
1,849
|
|
|
Total non-interest
expense
|
12,161
|
|
11,286
|
|
24,519
|
|
22,361
|
|
|
|
|
|
|
|
|
|
|
|
Income before income
taxes
|
1,858
|
|
3,180
|
|
2,160
|
|
3,715
|
|
|
Income tax expense
|
550
|
|
654
|
|
346
|
|
476
|
|
|
Net income
|
1,308
|
|
2,526
|
|
1,814
|
|
3,239
|
|
|
Preferred stock dividends and
discount accretion
|
(428)
|
|
(419)
|
|
(855)
|
|
(839)
|
|
|
Net income available to common
shareholders
|
$
880
|
|
$
2,107
|
|
$
959
|
|
$
2,400
|
|
|
|
|
|
|
|
|
|
|
|
Per Common Share
Data
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding
|
6,572,691
|
|
6,213,284
|
|
6,567,122
|
|
6,030,134
|
|
|
Basic earnings per common
share
|
$
0.14
|
|
$
0.34
|
|
$
0.15
|
|
$
0.40
|
|
|
Average shares outstanding
for diluted earnings per share
|
6,613,536
|
|
6,268,026
|
|
6,614,659
|
|
6,076,656
|
|
|
Diluted earnings per
common share
|
$
0.14
|
|
$
0.34
|
|
$
0.15
|
|
$
0.40
|
|
|
Cash dividends declared
per common share
|
$
0.05
|
|
$
0.05
|
|
$
0.10
|
|
$
0.10
|
|
|
|
|
|
|
|
|
|
|
|
Net interest margin (fully
taxable equivalent)
|
3.67%
|
|
3.43%
|
|
3.70%
|
|
3.42%
|
|
|
|
|
|
|
|
|
|
|
|
VIST
FINANCIAL CORP. AND SUBSIDIARIES
|
|
|
UNAUDITED
CONSOLIDATED SELECTED FINANCIAL DATA
|
|
|
(Dollar
amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
As Of and
For The Three-Month Period Ended
|
|
|
|
|
|
|
|
|
|
June
30,
|
|
March
31,
|
|
December
31,
|
|
September
30,
|
|
June
30,
|
|
|
|
2011
|
|
2011
|
|
2010
|
|
2010
|
|
2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans outstanding
|
|
$ 933,068
|
|
$ 926,194
|
|
$
954,363
|
|
$
927,579
|
|
$ 895,584
|
|
|
Covered loans
outstanding
|
|
58,954
|
|
62,818
|
|
66,770
|
|
n/a
|
|
n/a
|
|
|
Troubled debt restructurings
(accruing)
|
|
8,790
|
|
11,115
|
|
10,772
|
|
12,975
|
|
6,333
|
|
|
Allowance for loan
losses
|
|
15,439
|
|
15,283
|
|
14,790
|
|
14,418
|
|
12,825
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NON-PERFORMING
ASSETS:
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-accrual
loans
|
|
$ 30,273
|
|
$ 28,120
|
|
$
26,513
|
|
$
25,938
|
|
$ 22,204
|
|
|
Loans past due 90 days or
more still accruing
|
|
215
|
|
456
|
|
594
|
|
196
|
|
294
|
|
|
Total non-performing
loans
|
|
30,488
|
|
28,576
|
|
27,107
|
|
26,134
|
|
22,498
|
|
|
Other real estate
owned
|
|
2,337
|
|
1,769
|
|
5,303
|
|
3,531
|
|
5,148
|
|
|
Total non-performing
assets
|
|
$ 32,825
|
|
$ 30,345
|
|
$
32,410
|
|
$
29,665
|
|
$ 27,646
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSET
QUALITY STATISTICS:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net charge-offs to average
loans (annualized)
|
|
0.74%
|
|
0.74%
|
|
0.75%
|
|
0.77%
|
|
0.72%
|
|
|
Allowance for loan losses
as a percent of loans
|
|
1.65%
|
|
1.65%
|
|
1.55%
|
|
1.55%
|
|
1.43%
|
|
|
Allowance for loan losses
as a percent of non-performing loans
|
|
50.64%
|
|
53.48%
|
|
54.56%
|
|
55.17%
|
|
57.02%
|
|
|
Allowance for loan losses
as a percent of non-performing assets
|
|
47.03%
|
|
50.36%
|
|
45.63%
|
|
48.60%
|
|
46.39%
|
|
|
Net charge-offs
|
|
1,704
|
|
1,737
|
|
1,678
|
|
1,957
|
|
1,955
|
|
|
Non-performing assets to
total assets *
|
|
2.35%
|
|
2.25%
|
|
2.39%
|
|
2.18%
|
|
2.15%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NON-PERFORMING COVERED
ASSETS:
|
|
|
|
|
|
|
|
|
|
|
|
|
Covered non-accrual
loans
|
|
$ 5,805
|
|
$ 4,036
|
|
$
4,408
|
|
n/a
|
|
n/a
|
|
|
Covered other real estate
owned
|
|
520
|
|
711
|
|
247
|
|
n/a
|
|
n/a
|
|
|
|
|
|
|
|
|
* Excludes covered
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VIST
FINANCIAL CORP. AND SUBSIDIARIES
|
|
|
UNAUDITED
CONSOLIDATED SELECTED FINANCIAL DATA
|
|
|
(Dollar
amounts in thousands)
|
|
|
|
|
|
|
|
Average
Balances
|
|
Average
Balances
|
|
|
For the
Three Months Ended
|
|
For the Six
Months Ended
|
|
|
June
30,
|
|
June
30,
|
|
June
30,
|
|
|
2011
|
|
2010
|
|
2011
|
|
2010
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
Federal funds sold
|
$
18,293
|
|
$
6,772
|
|
$
13,879
|
|
$
17,825
|
|
|
Investment securities and
interest bearing cash
|
304,938
|
|
343,947
|
|
292,675
|
|
306,701
|
|
|
Federal Home Loan Bank
stock
|
6,518
|
|
5,715
|
|
6,735
|
|
5,715
|
|
|
Mortgage loans held for
sale
|
1,178
|
|
2,064
|
|
1,228
|
|
1,515
|
|
|
Loans:
|
|
|
|
|
|
|
|
|
|
Commercial
loans
|
765,507
|
|
716,289
|
|
771,518
|
|
724,631
|
|
|
Consumer loans
|
110,778
|
|
126,218
|
|
112,776
|
|
128,422
|
|
|
Mortgage loans
|
50,735
|
|
49,237
|
|
51,562
|
|
48,529
|
|
|
Total loans
|
$
927,020
|
|
$
891,744
|
|
$
935,856
|
|
$
901,582
|
|
|
|
|
|
|
|
|
|
|
|
Covered loans
|
58,017
|
|
-
|
|
$
59,938
|
|
$
-
|
|
|
|
|
|
|
|
|
|
|
|
Interest-earning
assets
|
1,309,446
|
|
1,244,527
|
|
1,303,576
|
|
$ 1,227,623
|
|
|
|
|
|
|
|
|
|
|
|
Goodwill and intangible
assets
|
45,463
|
|
43,997
|
|
45,531
|
|
44,056
|
|
|
Total assets
|
$ 1,430,348
|
|
$ 1,364,309
|
|
$ 1,423,029
|
|
$ 1,346,607
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and shareholders'
equity
|
|
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
|
|
Non-interest bearing
deposits
|
$
119,639
|
|
$
110,944
|
|
$
119,306
|
|
$
106,673
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing
deposits:
|
|
|
|
|
|
|
|
|
|
NOW, money market and
savings
|
574,214
|
|
535,200
|
|
556,536
|
|
516,099
|
|
|
Time deposits
|
471,277
|
|
425,298
|
|
480,862
|
|
436,993
|
|
|
Total Interest-Bearing
Deposits
|
1,045,491
|
|
960,498
|
|
1,037,398
|
|
953,092
|
|
|
|
|
|
|
|
|
|
|
|
Total deposits
|
$ 1,165,130
|
|
$ 1,071,442
|
|
$ 1,156,704
|
|
$ 1,059,765
|
|
|
|
|
|
|
|
|
|
|
|
Securities sold under agreements
to repurchase
|
$
105,120
|
|
$
110,137
|
|
105,957
|
|
112,966
|
|
|
Borrowings
|
-
|
|
24,620
|
|
691
|
|
17,903
|
|
|
Junior subordinated
debt
|
18,592
|
|
19,710
|
|
18,516
|
|
19,684
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
liabilities
|
1,169,203
|
|
1,114,965
|
|
1,162,562
|
|
1,103,645
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders' equity
|
$
134,275
|
|
$
130,431
|
|
$
133,245
|
|
$
128,154
|
|
|
|
|
|
|
|
|
|
|
|
SOURCE VIST Financial Corp.