SPY389.58+9.22 2.42%
DIA315.59+6.14 1.98%
IXIC13,588.83+396.48 3.01%

Press Release: The Community Financial -6-

· 02/05/2021 09:28
Three Months Ended ----------------------- -------------------------------------------------------------------------------------- (dollars in thousands, except per share December 31, September 30, December 31, amounts) 2020 2020 June 30, 2020 March 31, 2020 2019 ----------------------- ---------------- ---------------- --------------- --------------- ---------------- ASSET QUALITY RATIOS (1) Classified assets to total assets 1.10% 1.15% 1.20% 1.83% 1.93% Classified assets to risk-based capital 9.61 11.89 12.49 17.00 16.21 Allowance for loan losses to portfolio loans 1.29 1.26 1.09 1.01 0.75 Allowance for loan losses to non-accrual loans 106.60 93.45 71.27 92.12 61.28 Past due loans - 31 to 89 days to portfolio loans 0.01 0.06 0.39 0.53 0.04 Past due loans >=90 days to portfolio loans 0.81 1.15 1.34 0.86 0.88 Total past due (delinquency) to portfolio loans 0.82 1.21 1.74 1.40 0.92 Non-accrual loans to portfolio loans 1.21 1.35 1.53 1.10 1.23 Non-accrual loans and TDRs to portfolio loans 1.25 1.38 1.57 1.14 1.27 Non-accrual loans and OREO to total assets 1.05 1.13 1.27 1.24 1.43 Non-accrual loans and OREO to portfolio loans and OREO 1.42 1.61 1.78 1.52 1.75 Non-accrual loans, OREO and TDRs to total assets 1.08 1.16 1.30 1.28 1.46 COMMON SHARE DATA Book value per common share $ 33.54 $ 32.62 $ 32.05 $ 31.35 $ 30.76 Tangible book value per common share** 31.45 30.51 29.91 29.18 28.57 Common shares outstanding at end of period 5,903,613 5,911,940 5,911,715 5,910,064 5,900,249 OTHER DATA Full-time equivalent(1) Portfolio loans include all loan portfolios except the U.S. SBA PPP loan portfolio. Asset quality ratios for loans exclude U.S. SBA PPP loans. (2) Delinquency excludes Purchase Credit Impaired ("PCI") loans. (3) As of January 31, 2021 there were zero loans that were reported as delinquent as of December 31, 2020 with approved COVID-19 loan deferrals not yet completed. (4) Non-accrual loans include all loans that are 90 days or more delinquent and loans that are non-accrual due to the operating results or cash flows of a customer. Non-accrual loans can include loans that are current with all loan payments. At December 31, 2020 and December 31, 2019, the Company had current non-accrual loans of $6.3 million and $5.1 million, respectively.Three Months Ended ----------------------- ------------------------------------------------------------------------------- (dollars in thousands, except per share December 31, September 30, December 31, amounts) 2020 2020 June 30, 2020 March 31, 2020 2019 ----------------------- -------------- --------------- -------------- -------------- -------------- KEY OPERATING RATIOS Return on average assets ("ROAA") 1.18% 0.73% 0.69% 0.61% 0.91% Pre-tax Pre-Provision ROAA** 1.71 1.46 1.62 1.51 1.43 Return on average common equity ("ROACE") 12.51 7.86 7.27 6.00 9.58 Pre-tax Pre-Provision ROACE** 18.08 15.69 17.03 14.82 15.14 Average total equity to average total assets 9.46 9.33 9.52 10.20 9.46 Interest rate spread 3.29 3.15 3.21 3.21 3.05 Net interest margin 3.40 3.27 3.34 3.43 3.29 Cost of funds 0.42 0.46 0.54 0.93 1.14 Cost of deposits 0.26 0.37 0.48 0.82 1.00 Cost of debt 3.45 1.16 1.06 2.61 3.19 Efficiency ratio 51.64 55.48 53.75 58.78 59.58 Noninterest expense to average assets 1.83 1.82 1.88 2.15 2.11 Net operating expense to average assets 1.37 1.50 1.43 1.68 1.62 Avg. int-earning assets to avg. int-bearing liabilities 126.18 125.40 125.51 124.44 122.50 Net charge-offs to average portfolio loans -- -- 0.61 -- 0.32 COMMON SHARE DATA Basic net income per common share $ 1.04 $ 0.64 $ 0.59 $ 0.47 $ 0.73 Diluted net income per common share 1.04 0.64 0.59 0.47 0.73 Cash dividends paid per common share 0.125 0.125 0.125 0.125 0.125 Weighted average common shares outstanding: Basic 5,892,751 5,895,074 5,894,009 5,886,981 5,563,455 Diluted 5,894,494 5,895,074 5,894,009 5,886,981 5,563,455 ASSET QUALITY Total assets $2,026,439 $2,137,437 $2,093,756 $1,826,621 $1,797,536 Gross portfolio loans (1) 1,504,275 1,496,532 1,492,745 1,490,089 1,454,172 Classified assets 22,358 24,600 25,115 33,489 34,636 Allowance for loan losses 19,424 18,829 16,319 15,061 10,942 Past due loans - 31 to 89 days 179 838 5,843 7,921 549 Past due loans >=90 days 12,144 17,230 20,072 12,877 12,778 Total past due loans (2) (3) 12,323 18,068 25,915 20,798 13,327 Non-accrual loans (4) 18,222 20,148 22,896 16,349 17,857 Accruing troubled debt restructures ("TDRs") 572 573 593 641 650 Other real estate owned ("OREO") 3,109 3,998 3,695 6,338 7,773 ---------- ---------- --- ---------- ---------- ---------- Non-accrual loans, OREO and TDRs $ 21,903 $ 24,719 $ 27,184 $ 23,328 $ 26,280Accrued expenses and other liabilities 15,908 16,576 14,517 14,015 15,340 ---------- ---------- ---------- ---------- ---------- Total Liabilities 1,828,426 1,944,587 1,904,314 1,641,354 1,616,042 ---------- ---------- ---------- ---------- ---------- Stockholders' Equity Common stock 59 59 59 59 59 Additional paid in capital 95,965 95,799 95,687 95,581 95,474 Retained earnings 97,944 92,814 89,781 87,070 85,059 Accumulated other comprehensive income 4,504 4,780 4,517 3,159 1,504 Unearned ESOP shares (459) (602) (602) (602) (602) ---------- ---------- ---------- ---------- ---------- Total Stockholders' Equity 198,013 192,850 189,442 185,267 181,494 ---------- ---------- ---------- ---------- ---------- Total Liabilities and Stockholders' Equity $2,026,439 $2,137,437 $2,093,756 $1,826,621 $1,797,536 ========= ========= ========= ========= ========= Common shares issued and outstanding 5,903,613 5,911,940 5,911,715 5,910,064 5,900,249 ---------- ---------- ---------- ---------- ----------

SUPPLEMENTAL QUARTERLY FINANCIAL DATA (UNAUDITED) - Continued

SELECTED FINANCIAL INFORMATION AND RATIOS

** Non-GAAP financial measure. See reconciliation of GAAP and NON-GAAP measures.

____________________________________

SUPPLEMENTAL QUARTERLY FINANCIAL DATA (UNAUDITED) - Continued

SELECTED FINANCIAL INFORMATION AND RATIOS

(MORE TO FOLLOW) Dow Jones Newswires

February 05, 2021 09:28 ET (14:28 GMT)