Tennessee Commerce Bancorp, Inc. (Nasdaq:TNCC) today reported
financial results for the third quarter ended September 30, 2010.
The Company reported a net loss of $1.1 million, before the
preferred dividend or $0.12 per diluted share for the quarter ended
September 30, 2010 compared with net income of $1.5 million, before
the preferred dividend or $0.32 per diluted share, for the quarter
ended September 30, 2009. The Company also reported net income of
$2.5 million, before the preferred dividend, or $0.37 for the nine
months ended September 30, 2010, compared to a net loss of $7.2
million before the preferred dividend, or $1.53 for the nine months
ended September 30, 2009.
The net interest margin of 3.77% was impacted by loan interest
reversals of $1.5 million during the quarter. The net interest
margin would have been stable at 4.22%, excluding these interest
reversals, when compared to the first two quarters of 2010. The net
interest margin for the nine months ended September 30, 2010 was
4.09% up from 3.49% for the first nine months ended September 30,
2010.
The increase in non-performing assets to $86.5 million during
the quarter compared to $74.2 million at June 30, 2010 was mainly
attributed to one relationship that totaled $17.3 million.
Non-performing assets would have been $69.2 million, a decrease of
$5.0 million or 7.2%, when compared to the linked second quarter,
exclusive of this relationship. Repossessed assets, consisting
primarily of transportation assets, decreased for the second
consecutive quarter by $3.6 million to $32.7 million at September
30, 2010. "While we saw a small pullback in the ATA truck tonnage
index in August, we believe that industry trends will continue to
rebound in response to economic recovery," stated Mike Sapp,
President and Chief Executive Officer of Tennessee Commerce
Bancorp, Inc.
The loan loss provision of $7.2 million for the quarter exceeded
the net charge-offs of $5.8 million, resulting in a ratio of loan
loss provision to net charge-offs of 124.1%. The increase in
charge-offs from the second quarter of $1.6 million was mainly
attributed to a single credit of $1.1 million that had been on
non-accrual where a bankruptcy distribution was anticipated, but
recent events indicate that the timing of the distribution is
uncertain.
Non-interest income was stable at $1.3 million for the quarter
compared to $1.4 million for the quarter ended September 30,
2009. Non-interest income is primarily attributable to fees
associated with leveraged leases slightly offset by losses on
repossessions and loan buybacks exceeding gains on loan
sales.
Non-interest expenses increased to $8.3 million or 23.9% for the
quarter compared to $6.7 million for the linked second quarter. The
increase was mainly attributable to increased costs associated with
professional fees, employee benefits, other real estate owned,
repossessed assets and increased collection efforts that totaled
$2.1 million during the quarter.
"The financial results this quarter included several non
recurring events that will be discussed on our conference
call. While our customers remain cautious, we are optimistic
that earnings momentum will grow in a more straight-line manner
going forward. We remain focused on enhancing our capital
position and reducing the level of credit risk," stated Mike
Sapp.
The efficiency ratio for the quarter was 61.0% compared to 47.1%
in the second quarter. The increase in the efficiency ratio
for the quarter is mainly attributable to the $1.5 million in loan
interest reversals combined with increase in regulatory expenses of
$0.8 million and increases in professional expenses of $0.7
million.
The holding company and the bank continue to exceed the well
capitalized regulatory guidelines at September 30, 2010, total
risk-based capital was 12.42% for the holding company and 11.06%
for the bank; Tier 1 capital was 11.16% for the holding company and
9.80% for the bank; and Tier 1 leverage capital was 10.34% for the
holding company and 9.09% for the bank. Tangible common book
value per share for the quarter was $7.68. This includes the
dilutive effect of the additional 6.5 million shares of stock
issued in a public offering during the quarter. The ratio of
tangible common equity to tangible assets was 6.60% at September
30, 2010.
Third Quarter Conference Call
Schedule this webcast into MS-Outlook calendar (click open when
prompted):
http://apps.shareholder.com/PNWOutlook/t.aspx?m=44678&k=BCE1B50D
Toll-free: (877) 312-8781 |
International: (253) 237-1198 |
Tennessee Commerce will provide an online, real-time webcast and
rebroadcast of its third quarter earnings conference call to
be held at 11:00 a.m. Eastern on October 29, 2010. The live
broadcast will be available online at
http://www.tncommercebank.com under the Investor Relations tab.
An audio replay of the conference call will be available
approximately two hours after the call's completion on our website
at http://www.tncommercebank.com under the Investor Relations tab
or by dialing one of the following Dial-In Numbers and the
Conference ID shown below:
Encore Dial In #: (800) 642-1687 |
|
Encore Dial In #: (706) 645-9291 |
|
Conference ID number: 19630984 |
The recording will be available on our website from: 10/29/2010
to 11/05/2010
About Tennessee Commerce Bancorp, Inc.
Tennessee Commerce Bancorp, Inc. is the parent company of
Tennessee Commerce Bank. The Company celebrated its tenth
anniversary on January 14, 2010. The Bank provides a wide
range of banking services and is primarily focused on business
accounts. Its corporate and banking offices are located in
Franklin, Tennessee, and it has loan production offices in
Atlanta, Birmingham and Minneapolis. Tennessee Commerce
Bancorp's stock is traded on the NASDAQ Global Market under
the symbol TNCC.
Additional information concerning Tennessee Commerce can be
accessed at www.tncommercebank.com.
Forward Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements include, but are not limited to,
statements about our regional economy and non-GAAP financial
measures. Forward-looking statements can be identified by the use
of the words "anticipate," "believe," "expect," "outlook,"
"estimate," "continue," "predict," "project", "intend,"
"could" and "should," and other words of similar meaning. These
forward-looking statements express management's current
expectations or forecasts of future events and, by their nature,
are subject to risks and uncertainties and there are a number of
factors that could cause actual results to differ materially from
those in such statements. Factors that might cause such a
difference include, but are not limited to, the effects of future
economic, business and market conditions and changes, domestic and
foreign, that may affect general economic conditions, governmental
monetary and fiscal policies, negative developments in the
financial services industry and U.S. and global credit markets,
fluctuations in interest rates, changes in accounting policies,
rules and practices, other matters discussed in this press
release and other factors identified in the Company's Annual Report
on Form 10-K and other periodic filings with the Securities and
Exchange Commission.
These forward-looking statements are made only as of the date of
this press release, and Tennessee Commerce undertakes no obligation
to release revisions to these forward-looking statements to reflect
events or conditions after the date of this release. Tennessee
Commerce is not responsible for updating the information contained
in this press release beyond the published date, or for changes
made to this document by wire services or Internet services.
TENNESSEE COMMERCE BANCORP,
INC. CONSOLIDATED BALANCE SHEETS SEPTEMBER 30, 2010
(UNAUDITED) AND DECEMBER 31, 2009 |
|
|
|
|
September 30, |
December 31, |
(Dollars in thousands, except share
data) |
2010 |
2009 (1) |
ASSETS |
|
|
Cash and due from banks |
$17,693 |
$22,864 |
Federal funds sold |
8,005 |
15,010 |
Cash and cash equivalents |
25,698 |
37,874 |
|
|
|
Securities available for sale |
79,242 |
93,668 |
|
|
|
Loans |
1,241,669 |
1,171,301 |
Allowance for loan losses |
(21,742) |
(19,913) |
Net loans |
1,219,927 |
1,151,388 |
|
|
|
Premises and equipment, net |
2,397 |
1,967 |
Accrued interest receivable |
8,395 |
9,711 |
Restricted equity securities |
2,169 |
2,169 |
Income tax receivable |
-- |
68 |
Bank-owned life insurance |
27,775 |
25,673 |
Other real estate owned |
1,975 |
814 |
Repossessions |
32,747 |
36,951 |
Other assets |
19,745 |
23,149 |
Total assets |
$1,420,070 |
$1,383,432 |
|
|
|
LIABILITIES AND SHAREHOLDERS
EQUITY |
|
|
Liabilities |
|
|
Deposits |
|
|
Non-interest-bearing |
$25,942 |
$30,111 |
Interest-bearing |
1,235,063 |
1,212,431 |
Total deposits |
1,261,005 |
1,242,542 |
|
|
|
Accrued interest payable |
1,562 |
1,430 |
Accrued dividend payable |
188 |
187 |
Short-term borrowings |
-- |
14,000 |
Other liabilities |
7,856 |
5,783 |
Long-term subordinated debt |
25,621 |
23,198 |
Total liabilities |
1,296,232 |
1,287,140 |
Shareholders equity |
|
|
Preferred stock, 1,000,000 shares
authorized; 30,000 shares of $0.50 par value Fixed Rate Cumulative
Perpetual, Series A issued and outstanding at September 30, 2010
and December 31, 2009 |
15,000 |
15,000 |
Common stock, $0.50 par value; 20,000,000
shares authorized at September 30, 2010 and at December 31, 2009;
12,194,884 and 5,646,368 shares issued and outstanding at September
30, 2010 and December 31, 2009, respectively |
6,097 |
2,823 |
Common stock warrant |
453 |
453 |
Additional paid-in capital |
84,388 |
63,247 |
Retained earnings |
17,447 |
16,056 |
Accumulated other comprehensive income
(loss) |
453 |
(1,287) |
Total shareholders
equity |
123,838 |
96,292 |
|
|
|
Total liabilities and
shareholders equity |
$1,420,070 |
$1,383,432 |
|
|
|
(1) The balance sheet at
December 31, 2009 has been derived from the audited
consolidated financial statements at that date but does not include
all of the information and notes required by generally accepted
accounting principles for complete financial statements. |
|
|
|
|
|
|
|
|
|
|
TENNESSEE COMMERCE BANCORP,
INC. CONSOLIDATED STATEMENTS OF INCOME NINE MONTHS AND THREE MONTHS
ENDED SEPTEMBER 30, 2010 AND 2009 (UNAUDITED) |
|
|
Nine Months Ended |
Three Months Ended |
|
September 30, |
September 30, |
(Dollars in thousands except share
data) |
2010 |
2009 |
2010 |
2009 |
Interest income |
|
|
|
|
Loans, including fees |
$58,102 |
$55,904 |
$18,998 |
$19,334 |
Securities |
2,492 |
4,089 |
489 |
1,301 |
Federal funds sold |
37 |
12 |
24 |
7 |
Total interest income |
60,631 |
60,005 |
19,511 |
20,642 |
|
|
|
|
|
Interest expense |
|
|
|
|
Deposits |
20,306 |
26,807 |
6,811 |
8,724 |
Other |
1,400 |
1,483 |
367 |
494 |
Total interest expense |
21,706 |
28,290 |
7,178 |
9,218 |
|
|
|
|
|
Net interest income |
38,925 |
31,715 |
12,333 |
11,424 |
|
|
|
|
|
Provision for loan losses |
16,243 |
26,889 |
7,193 |
5,250 |
|
|
|
|
|
Net interest income after provision for loan
losses |
22,682 |
4,826 |
5,140 |
6,174 |
|
|
|
|
|
Non-interest income |
|
|
|
|
Service charges on deposit accounts |
90 |
132 |
30 |
41 |
Securities gains |
734 |
870 |
38 |
532 |
Gain (loss) on sale of loans |
475 |
(649) |
(55) |
340 |
(Loss) gain on repossession |
(3,998) |
(1,165) |
(1,990) |
202 |
Other |
5,575 |
631 |
3,272 |
238 |
Total non-interest income
(loss) |
2,876 |
(181) |
1,295 |
1,353 |
|
|
|
|
|
Non-interest expense |
|
|
|
|
Salaries and employee benefits |
8,235 |
7,428 |
2,859 |
2,088 |
Occupancy and equipment |
1,474 |
1,186 |
551 |
394 |
Data processing fees |
1,529 |
1,148 |
522 |
449 |
FDIC expense |
2,349 |
1,868 |
1,288 |
717 |
Professional fees |
2,286 |
1,393 |
1,212 |
405 |
Other |
5,666 |
3,314 |
1,887 |
966 |
Total non-interest
expense |
21,539 |
16,337 |
8,319 |
5,019 |
|
|
|
|
|
Income (loss) before income taxes |
4,019 |
(11,692) |
(1,884) |
2,508 |
|
|
|
|
|
Income tax expense (benefit) |
1,503 |
(4,463) |
(785) |
972 |
Net income (loss) |
2,516 |
(7,229) |
(1,099) |
1,536 |
Preferred dividends |
(1,125) |
(1,171) |
(375) |
(375) |
|
|
|
|
|
Net income (loss) available to common
shareholders |
$1,391 |
$(8,400) |
$(1,474) |
$1,161 |
|
|
|
|
|
Earnings (loss) per share (EPS): |
|
|
|
|
Basic EPS |
$0.20 |
$(1.77) |
$(0.16) |
$0.25 |
Diluted EPS |
0.20 |
(1.77) |
(0.16) |
0.25 |
|
|
|
|
|
Weighted average shares outstanding: |
|
|
|
|
Basic |
6,871,025 |
4,733,882 |
9,277,422 |
4,736,823 |
Diluted |
6,871,025 |
4,733,882 |
9,277,422 |
4,736,823 |
|
|
|
|
|
Tennessee Commerce Bancorp,
Inc. Loan Data |
|
|
|
|
|
|
(amounts in thousands) |
|
|
|
|
|
|
9/30/2010 |
6/30/2010 |
3/31/2010 |
12/31/2009 |
9/30/2009 |
LOAN BALANCES BY TYPE: |
|
|
|
|
|
Commercial and Industrial |
$671,013 |
$652,149 |
$651,382 |
$649,475 |
$637,016 |
Consumer |
3,547 |
3,636 |
3,581 |
3,476 |
3,421 |
Real Estate: |
|
|
|
|
|
Construction |
118,376 |
131,187 |
135,416 |
142,109 |
206,512 |
1-4 Family |
43,639 |
43,591 |
44,339 |
42,425 |
40,033 |
Other |
290,383 |
268,743 |
268,119 |
259,220 |
198,653 |
Total Real Estate |
452,398 |
443,521 |
447,874 |
443,754 |
445,198 |
Tax leass |
114,711 |
97,753 |
83,334 |
74,596 |
74,070 |
Total |
$1,241,669 |
$1,197,059 |
$1,186,171 |
$1,171,301 |
$1,159,705 |
|
|
|
|
|
|
ASSET QUALITY DATA: |
|
|
|
|
|
Total Assets |
$1,420,070 |
$1,389,528 |
$1,382,851 |
$1,383,432 |
$1,335,751 |
Nonaccrual Loans |
47,351 |
34,041 |
34,792 |
19,151 |
28,854 |
Troubled debt |
94 |
99 |
124 |
111 |
114 |
Total Non-Performing Loans (1) |
47,445 |
34,140 |
34,916 |
19,262 |
28,968 |
Loans 90+ Days Past Due |
4,340 |
2,943 |
6,232 |
1,328 |
1,332 |
Repossessions |
32,747 |
36,336 |
39,993 |
36,951 |
24,440 |
Other Real Estate Owned |
1,975 |
795 |
480 |
814 |
1,254 |
Total Non-Performing Assets (2) |
53,666 |
37,779 |
41,504 |
21,293 |
31,440 |
Total Non-Performing Assets (Adj)
(3) |
$86,507 |
$74,214 |
$81,621 |
$58,355 |
$55,994 |
|
|
|
|
|
|
Non-Performing Loans to Total Loans |
3.8% |
2.9% |
2.9% |
1.6% |
2.5% |
Non-Performing Assets to Total
Loans |
4.3% |
3.2% |
3.5% |
1.8% |
2.7% |
Non-Performing Assets to Total Assets |
3.8% |
2.7% |
3.0% |
1.5% |
2.4% |
Non-Performing Assets (Adj) to Total
Assets |
6.1% |
5.3% |
5.9% |
4.2% |
4.2% |
Allowance for Loan Losses to Non-Performing
Loans |
47.3% |
59.6% |
57.6% |
103.4% |
68.0% |
Allowance for Loan Losses to Total Loans |
1.8% |
1.7% |
1.7% |
1.7% |
1.7% |
Loans 30+ Days Past Due to Total Loans |
2.7% |
2.2% |
4.5% |
4.5% |
3.0% |
(loans not included in non-performing
loans) |
|
|
|
|
|
Net Chargeoffs to Average Gross
Loans |
0.5% |
0.4% |
0.4% |
0.3% |
0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
NET CHARGE-OFFS FOR
QUARTER |
$5,797 |
$4,214 |
$4,403 |
$3,927 |
$4,498 |
|
|
|
|
|
|
Transportation & Other Equipment : |
|
|
|
|
|
Nonaccrual Loans (included
above) |
$11,214 |
$24,297 |
$21,019 |
$11,596 |
$10,486 |
Loans 90+ Days Past Due (included
above) |
3,364 |
1,388 |
5,868 |
1,328 |
1,311 |
Repossessions |
$22,478 |
$26,176 |
$29,299 |
$24,980 |
$21,262 |
|
|
|
|
|
|
(1)
Non-Performing loans are comprised of Nonaccrual Loans and Troubled
Debt (2) Non Performing Assets are comprised of
Nonaccruals, 90+ Days Past Due and ORE (3) Non
Performing Assets (Adjusted) are comprised of Nonaccruals, 90+ Days
past Due, ORE and Repossessions (consolidated) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TENNESSEE COMMERCE
BANCORP, INC. |
FINANCIAL
HIGHLIGHTS |
(Dollars in thousands, except
per share amounts) |
|
|
|
|
|
|
|
|
2010 Q3 |
2010 Q2 |
2010 Q1 |
2009 Q4 |
2009 Q3 |
|
Total Assets |
$ 1,420,070 |
$ 1,389,528 |
$ 1,382,851 |
$ 1,383,432 |
$ 1,335,751 |
|
Total Net Loans |
1,219,927 |
1,176,713 |
1,166,061 |
1,151,388 |
1,140,015 |
|
Total Deposits |
1,261,005 |
1,243,456 |
1,239,835 |
1,242,541 |
1,202,285 |
|
Reserves/ Loans (%) |
1.75% |
1.70% |
1.70% |
1.70% |
1.70% |
|
Shareholders' Equity |
123,838 |
100,782 |
98,407 |
96,292 |
92,772 |
|
Tangible Equity |
93,684 |
70,651 |
68,299 |
66,207 |
62,710 |
|
Net Interest Income |
12,333 |
13,343 |
13,249 |
13,201 |
11,424 |
|
Operating Revenue |
13,628 |
14,237 |
13,936 |
11,825 |
12,777 |
|
Net Income (Loss) Available to Common
Shareholders |
(1,474) |
1,511 |
1,354 |
1,276 |
1,161 |
|
Diluted Earnings (Loss) Per Share |
$ (0.16) |
$ 0.26 |
$ 0.24 |
$ 0.27 |
$ 0.25 |
|
ROAA |
-0.41% |
0.44% |
0.40% |
0.38% |
0.34% |
|
ROACE |
-7.09% |
8.67% |
8.13% |
7.94% |
7.46% |
|
Net Interest Margin |
3.77% |
4.25% |
4.25% |
4.18% |
3.61% |
|
Total Equity/ Total Assets |
8.72% |
7.25% |
7.12% |
6.96% |
6.95% |
|
Total Capital Ratio - Bank |
11.06% |
10.95% |
10.72% |
10.63% |
10.68% |
|
Total Capital Ratio - Corporation |
12.42% |
10.99% |
10.82% |
10.81% |
10.59% |
|
Efficiency Ratio |
61.04% |
47.14% |
46.71% |
42.01% |
47.14% |
|
Pre-tax, Pre-Provision Income |
4,934 |
7,151 |
7,427 |
11,758 |
7,758 |
|
Net Income |
(1,099) |
1,886 |
1,729 |
1,651 |
1,536 |
|
Net Income Available to Common SH |
(1,474) |
1,511 |
1,354 |
1,276 |
1,161 |
|
Average assets |
1,411,351 |
1,376,347 |
1,371,526 |
1,307,205 |
1,294,717 |
|
Average Common Equity |
82,466 |
69,450 |
67,073 |
63,265 |
61,301 |
|
|
|
|
|
|
|
|
PT,PP ROAA |
0.26% |
0.26% |
0.13% |
0.90% |
0.45% |
|
|
273 |
180 |
90 |
365 |
273 |
|
|
365 |
365 |
365 |
365 |
365 |
|
ROAA |
-0.10% |
0.11% |
0.10% |
0.10% |
0.09% |
|
ROEE |
-1.79% |
2.18% |
2.02% |
2.02% |
1.89% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Balance Sheet |
|
|
|
|
|
|
|
|
3 months ended September
30, |
3 months ended September
30, |
ASSETS |
2010 |
2009 |
|
Average |
|
Average |
Average |
|
Average |
(dollars in thousands) |
Balance |
Interest |
Rate |
Balance |
Interest |
Rate |
Interest Earning Assets |
|
|
|
|
|
|
Securities - taxable |
$ 74,225 |
$ 489 |
2.63% |
$ 101,978 |
$ 1,301 |
4.96% |
Loans |
1,195,083 |
18,998 |
6.31% |
1,139,510 |
19,334 |
6.73% |
Securities-tax exempt |
|
|
|
|
|
|
Fed funds sold |
28,753 |
24 |
0.33% |
10,707 |
7 |
0.26% |
Interest-bearing accounts |
1,298,061 |
19,511 |
5.97% |
1,252,195 |
20,642 |
6.53% |
|
|
|
|
|
|
|
Non-interest earning assets |
|
|
|
|
|
|
Cash and due from banks |
18,122 |
|
|
9,495 |
|
|
Net fixed assets and equipment |
2,447 |
|
|
2,118 |
|
|
Accrued interest and other assets |
92,721 |
|
|
79,468 |
|
|
Total assets |
$ 1,411,351 |
|
|
$ 1,343,276 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS'
EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Earning Liabilities |
|
|
|
|
|
|
Deposits (other than demand) |
$ 1,214,770 |
$ 6,811 |
2.22% |
$ 1,184,337 |
$ 8,724 |
2.92% |
Fed funds purchased & FHLB
Advances |
2,953 |
2 |
0.27% |
1,401 |
8 |
2.27% |
Subordinated Debt |
29,761 |
365 |
4.87% |
33,198 |
486 |
5.81% |
|
1,247,484 |
7,178 |
2.28% |
1,218,936 |
9,218 |
3.00% |
Non-interest bearing liabilities |
|
|
|
|
|
|
Non-interest bearing demand deposits |
23,651 |
|
|
25,383 |
|
|
Other liabilities |
27,241 |
|
|
7,606 |
|
|
Shareholders' equity |
112,975 |
|
|
91,351 |
|
|
Total Liabilities and Shareholders'
Equity |
$ 1,411,351 |
|
|
$ 1,343,276 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest/Spread |
|
|
3.69% |
|
|
3.53% |
|
|
|
|
|
|
|
Net Interest Margin |
|
|
3.77% |
|
|
3.61% |
|
|
|
|
|
|
|
|
Average Balance
Sheet |
|
|
|
|
|
|
|
|
9 months ended September
30, |
9 months ended September
30, |
ASSETS |
2010 |
2009 |
|
Average |
|
Average |
Average |
|
Average |
(dollars in thousands) |
Balance |
Interest |
Rate |
Balance |
Interest |
Rate |
Interest Earning Assets |
|
|
|
|
|
|
Securities - taxable |
$ 81,329 |
$ 2,492 |
4.07% |
$ 104,123 |
$ 4,089 |
5.21% |
Loans |
1,174,401 |
58,102 |
6.61% |
1,103,463 |
55,904 |
6.77% |
Securities-tax exempt |
|
|
|
|
|
|
Fed funds sold |
17,201 |
37 |
0.29% |
7,434 |
12 |
0.22% |
Interest-bearing accounts |
1,272,931 |
60,631 |
6.37% |
1,215,020 |
60,005 |
6.60% |
|
|
|
|
|
|
|
Non-interest earning assets |
|
|
|
|
|
|
Cash and due from banks |
14,315 |
|
|
8,905 |
|
|
Net fixed assets and equipment |
2,188 |
|
|
2,205 |
|
|
Accrued interest and other assets |
96,791 |
|
|
68,587 |
|
|
Total assets |
$ 1,386,225 |
|
|
$ 1,294,717 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS'
EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Earning Liabilities |
|
|
|
|
|
|
Deposits (other than demand) |
$ 1,212,837 |
$ 20,306 |
2.24% |
$ 1,118,552 |
$ 26,807 |
3.20% |
Fed funds purchased & FHLB
Advances |
2,468 |
10 |
0.54% |
16,596 |
75 |
0.60% |
Subordinated Debt |
33,629 |
1,390 |
5.53% |
33,198 |
1,408 |
5.67% |
|
1,248,934 |
21,706 |
2.32% |
1,168,346 |
28,290 |
3.24% |
Non-interest bearing liabilities |
|
|
|
|
|
|
Non-interest bearing demand deposits |
23,204 |
|
|
23,855 |
|
|
Other liabilities |
10,120 |
|
|
6,873 |
|
|
Shareholders' equity |
103,967 |
|
|
95,643 |
|
|
Total Liabilities and Shareholders'
Equity |
$ 1,386,225 |
|
|
$ 1,294,717 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest Spread |
|
|
4.05% |
|
|
3.36% |
|
|
|
|
|
|
|
Net Interest Margin |
|
|
4.09% |
|
|
3.49% |
|
|
|
|
|
|
|
CONTACT: Tennessee Commerce Bancorp, Inc.
Frank Perez, Chief Financial Officer
615-599-2274
Tennessee Commerce Bancorp (TN) (MM) (NASDAQ:TNCC)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Tennessee Commerce Bancorp (TN) (MM) (NASDAQ:TNCC)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024