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FPBF.. $27.00 X $35.00

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10 bagger   Tuesday, 10/27/09 11:12:28 AM
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FPBF.. $27.00 X $35.00

Thin and only 316,000 Shares Outstanding..

I have an order in to buy 488 @ $27.28 in my Investment Account.. hank

FPB Financial Corp. Announces Record 2009 Third Quarter Earnings and Declares Dividends

Market Wire - Oct 27 at 10:14 NONE

Company Symbols: OTC-PINK:FPBF


HAMMOND, LA -- (MARKET WIRE) -- 10/27/09 -- FPB Financial Corp. (PINKSHEETS: FPBF), the holding company for Florida Parishes Bank, announced earnings for the three months ended September 30, 2009.

Net income for the third quarter was $887,000; ($2.47 per diluted common share), up 259% from $247,000; ($0.70 per diluted common share) for the 2008 comparable period. If a pre-tax third quarter gain on sale of real estate of $514,000 was eliminated, net income for the quarter would be revised to $545,000; ($1.52 per diluted common share), up 121% as compared to the 2008 period and down 2.7% from $560,000; ($1.58 per diluted common share) when compared to the 2009 second quarter.

Earnings were positively affected by a 176% increase in non-interest income, an improved net-interest margin which resulted in a 13.4% increase in net-interest income and a 1.8% decrease in non-interest expense. Provisions for loan losses decreased 10.0%, or $10,000 in comparison to the 2008 period.

Non-interest income increased, primarily due to a $509,000 gain on sale of the Bank's former main office facility. Also, having a positive affect on non-interest income were a net gain of $99,000 on investment trading accounts, and a $78,000 increase in mortgage banking revenue.

Net-interest income increased, primarily due to a $224,000, or 22.9% decrease in interest expense for the three month period compared to 2008.

Although technology and information processing expense increased by $81,000, or 123%, total non-interest expense decreased for the period, primarily due to a $84,000, or 9.2% reduction in compensation expense. The Company does not anticipate future period decreases in total non-interest expenses.

Provisions for loan losses decreased 10% to $90,000. Net loan charge-offs increased 198% to $103,000, as compared to the 2008 three month period. The Company expects modest increases/decreases in net loan charge-offs over the next four quarters as compared to the current period.

Total assets increased 13.7% to $170.4 million as compared to September 30, 2008, primarily due to a 25.1% increase to $6.1 million in cash and cash equivalents, a 9.2% increase to $136.6 million in net loans, and an 8.5% increase to $8.6 million in net premises and equipment. Other real estate owned increased to $119,000. Total liabilities increased $9.6 million, or 6.7% with total deposits increasing 9.4% to $128.6 million, non-interest bearing deposits increased 41.0% to $20.6 million. Allowance for loan losses increased $452,000, or 28.3% to $2.1 million compared to September 30, 2008.

Total stockholders' equity increased $4.1 million, or 33.2% to $16.4 million, when compared to September 30, 2008, primarily due to the January 23, 2009 issuance of $3.2 million of Series A and $162,000 of Series B Perpetual Preferred Stock to the U.S. Treasury from the Treasury's Capital Purchase Program (CPP). Total tangible common equity increased $847,000, or 6.9% to $13.2 million, primarily due to an increase of $1.1 million in accumulated other comprehensive income, and a $366,000 decrease in retained earnings, primarily in relation to the Bank's investment in the AMF Ultra Short Mortgage Fund (ASARX). The fair value on September 30, 2009 of the Bank's AMF Investment was $4.4 million, as compared to the September 30, 2008 fair value of $4.9 million. The June 30, 2009 AMF Fund fair value was $4.3 million.

Our subsidiary, Florida Parishes Bank, is considered "well capitalized" by all Federal Banking Regulations and definitions as of September 30, 2009.

FPB Financial Corp. reported the following compared to September 30, 2008:


-- Net Income increased $640,000, or 259%

-- Net Interest Margin increased to 4.76% from 4.52%

-- Net Interest income increased $223,000, or 13.4%

-- Non-Interest income increased $704,000, or 176.4%

-- Total Deposits increased $11.1 million, or 9.4%

-- Non-Interest bearing deposits increased $6.0 million, or 41.0%

-- Non-maturity deposits increased $17.4 million, or 29.7%

-- Total Stockholders' Equity increased $4.1 million, or 33.2%

-- Tangible Common Equity increased $847,000, or 6.9%

-- Total Assets increased $13.7 million, or 8.7%

-- Net Loans increased $11.5 million, or 9.2%

-- Non-Performing Assets decreased $276,000, or 24.6%



FPB Financial Corp. is headquartered in Hammond, LA and is the parent company of Florida Parishes Bank. The Company's common stock is traded under the "FPBF" symbol.


FPB Financial Corp.

Sept. 30, June 30, Sept. 30,
Selected Balances (Unaudited) 2009 2009 2008
------------ ------------ ------------

Cash and Cash Equivalents $ 6,103,749 $ 22,269,570 $ 4,878,905

Investment Securities at Cost 17,401,993 13,785,762 18,850,582

Investment Securities at Fair
Value 17,866,826 14,001,157 17,576,663

Net Loans 136,555,992 132,411,716 125,087,715

Other Real Estate Owned 118,800 36,000 0

Non-Performing Assets 842,811 1,265,943 1,118,329
to Total Assets 0.50% 0.71% 0.71%

Allowance for Loan Losses 2,050,127 2,062,997 1,597,536
to Gross Loans 1.45% 1.50% 1.26%
to Non-Performing Assets 243.25% 162.96% 142.85%

Total Assets 170,376,487 178,737,896 156,712,216

Non-Interest Bearing Deposits 20,645,329 20,534,338 14,637,635

Interest Bearing Deposits 107,932,788 114,049,772 102,869,440

Non-Maturity Deposits (Included
in interest and non-interest
bearing deposits) 75,738,011 75,037,212 58,379,150

Brokered Deposits (Included in
interest-bearing deposits) 5,438,889 7,991,332 9,744,545

FHLB Advances 20,905,639 24,161,756 23,075,580

Subordinated Debentures/Trust
Preferred Securities 3,093,000 3,093,000 3,093,000

Tangible Common Stockholders'
Equity 13,151,351 12,092,316 12,304,127

Tangible Common Book Value
per Share $ 36.55 $ 34.06 $ 34.66




CONSOLIDATED STATEMENTS OF EARNINGS
(UNAUDITED)



For the Three Months For the Nine Months
Ended Ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
2009 2008 2009 2008
(Unaudited) (Unaudited) (Unaudited) (Unaudited)

INTEREST INCOME:

Mortgage Loans $ 2,008,764 $ 1,900,614 $ 5,858,942 5,688,042

Consumer Loans 243,857 166,369 613,764 469,837

Lines of Credit 106,011 106,254 292,094 305,484

Commercial Loans 62,046 65,039 189,065 198,905

Premium Finance Loans 38,323 150,512 227,311 493,514

Loans on deposits 36,117 31,891 98,231 99,431

Mortgage-backed
securities 92,319 118,468 375,286 184,630

FHLB stock and
other Investment
securities 48,189 84,784 151,370 649,662

Interest-earning
deposits 5,647 18,125 12,631 75,266
----------- ----------- ----------- -----------

TOTAL INTEREST INCOME 2,641,273 2,642,056 7,818,694 8,164,771

INTEREST EXPENSE:
Deposits 502,498 681,909 1,622,904 2,271,906

Federal Home Loan
Bank Advances 222,354 249,923 758,617 924,106

Subordinated
Debentures/
Trust Preferred
Securities 29,280 46,700 98,786 132,530
----------- ----------- ----------- -----------

TOTAL INTEREST EXPENSE 754,132 978,532 2,480,307 3,328,542
----------- ----------- ----------- -----------

NET INTEREST INCOME 1,887,141 1,663,524 5,338,387 4,836,229

Provisions for loan
losses 90,000 100,000 465,000 210,000
----------- ----------- ----------- -----------

NET INTEREST
INCOME AFTER PROVISION
FOR LOAN LOSSES 1,797,141 1,563,524 4,873,387 4,626,229
----------- ----------- ----------- -----------

NON-INTEREST INCOME

Service charge on
deposits 252,682 217,579 671,343 596,857

Mortgage Banking 168,213 90,629 549,647 384,281

Interchange Fees 71,904 64,650 207,802 176,170

Loan Fees and Charges 37,193 44,283 99,460 131,153

Premium Finance 16,208 37,272 73,745 127,156

Gain on Sale of Real
Estate 514,566 0 514,566 0

Gain/(Loss) on
Investments Trading
Accounts 16,716 (82,081) 86,749 (108,049)

Gain on Sale of
Investments 0 0 203,449 0

Investment Impairment
Charge 0 0 (169,923) 0

Other 25,140 26,791 108,775 96,515
----------- ----------- ----------- -----------

TOTAL NON-INTEREST
INCOME 1,102,622 399,123 2,345,613 1,404,083
----------- ----------- ----------- -----------

NON-INTEREST EXPENSE

Compensation and
Employee Benefits 828,407 912,389 2,578,443 2,706,960

Occupancy, Property
Taxes, and Equipment 166,434 166,616 537,435 460,211

Federal Deposit Insurance,
Supervisory Fees/Taxes 128,559 139,872 381,596 170,051

Technology and
Information Processing 147,258 65,988 319,149 389,740

Professional Fees 49,770 49,400 159,884 136,509

Other 243,737 257,750 721,135 770,621
----------- ----------- ----------- -----------

TOTAL NON-INTEREST
EXPENSE 1,564,165 1,592,015 4,697,642 4,634,092
----------- ----------- ----------- -----------

INCOME BEFORE INCOME
TAXES 1,335,598 370,632 2,521,358 1,396,220

Income Tax Expense
(Benefit) 448,896 123,925 903,241 467,460
----------- ----------- ----------- -----------

NET INCOME $ 886,702 $ 246,707 $ 1,618,117 $ 928,760
=========== =========== =========== ===========

Dividends Paid to
Preferred Shareholders 44,145 0 99,081 0

Net Income Available to
Common Shareholders 842,557 246,707 1,519,036 928,760

Earnings Per Share $ 2.52 $ 0.71 $ 4.64 $ 2.70

Earning Per Share
Available to Common
Shareholders $ 2.39 $ 0.71 $ 4.35 $ 2.70

Diluted Earnings Per
Common Share $ 2.47 $ 0.70 $ 4.50 $ 2.62

Diluted Earnings Per
Share Available to
Common Shareholders $ 2.34 $ 0.70 $ 4.22 $ 2.62

Dividend Paid Common
per Share $ 0.14 $ 0.14 $ 0.42 $ 0.42

Return on Average
Assets 2.02% 0.62% 1.23% 0.76%

Return on Average
Total Stockholders'
Equity 22.02% 8.00% 14.41% 10.07%

Net Interest Margin 4.76% 4.52% 4.43% 4.20%

Net Charge-Off/
(Recoveries)
to Average Total $ 102,870 $ 34,514 $ 144,541 $ 124,760
Loans 0.08% 0.03% 0.11% 0.10%

Allowance for Loan Losses 2,050,127 1,597,536 2,050,127 1,597,536
to Average Total Loans 1.52% 1.29% 1.54% 1.30%

Non-Performing Assets 842,811 1,118,329 842,811 1,118,329
to Average Total Assets 0.49% 0.71% 0.48% 0.68%







CONSOLIDATED STATEMENTS OF CONDITION
(UNAUDITED)



Sept. 30, 2009 June 30, 2009 Sept. 30, 2008
ASSETS:

Cash and Cash Equivalents $ 6,103,749 $ 22,269,570 $ 4,878,905

Investment and
Mortgage-Backed Securities 17,866,826 14,001,157 17,576,663

Net Loans 136,555,992 132,411,716 125,087,715

Premises and Equipment, Net 8,779,567 9,014,290 7,916,038

Other Real Estate Owned 118,800 36,000 0

Other Assets 951,553 1,005,163 1,252,895
-------------- -------------- --------------

TOTAL ASSETS $ 170,376,487 $ 178,737,896 $ 156,712,216
============== ============== ==============

LIABILITIES:

Deposits 128,578,117 134,584,110 117,507,075

Federal Home Loan Bank
Advances 20,905,639 24,161,756 23,075,580

Shares subject to mandatory
redemption 3,093,000 3,093,000 3,093,000

Other Liabilities 1,408,380 1,566,714 732,434
-------------- -------------- --------------

TOTAL LIABILITIES $ 153,985,136 $ 163,405,580 $ 144,408,089
============== ============== ==============

STOCKHOLDERS' EQUITY:

Common Stock $ 4,207 $ 4,159 $ 4,159

Capital Surplus 6,128,276 6,067,599 6,023,134

Retained Earnings 7,972,182 7,179,973 8,338,326

Unearned Compensation (85,980) (95,007) (103,714)

Treasury Stock (1,227,321) (1,227,321) (1,227,321)

Accumulated Other
Comprehensive Income 359,987 162,913 (730,457)

Total Tangible Common
Stockholders' Equity 13,151,351 12,092,316 12,304,127
-------------- -------------- --------------

Total Preferred
Stockholders' Equity 3,240,000 3,240,000 0
-------------- -------------- --------------

Total Stockholders' Equity 16,391,351 15,332,316 12,304,127
-------------- -------------- --------------

TOTAL LIABILITIES
AND STOCKHOLDERS EQUITY $ 170,376,487 $ 178,737,896 $ 156,712,216
============== ============== ==============


Fritz W. Anderson II, Chairman of the Board announced today that "On October 8, 2009 (Declaration Date) the Board of Directors of FPB Financial Corp. declared a cash dividend on the common stock of the company bearing Cusip #302549 10 0. The dividend rate increased to $0.36 per share. This dividend rate is composed of a regular quarterly dividend rate of $0.14 per share and a special year-end dividend of $0.22 per share and will be paid on December 24, 2009. (Payable Date) to stockholders of record December 10, 2009. (Record Date)."

For More Information Contact:
Fritz W. Anderson, II
President, Chief Executive Officer,
And Chairman
FPB Financial Corp.
(985) 345-1880







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