/C O R R E C T I O N -- LSB Bancshares, Inc./
19 4월 2006 - 1:56AM
PR Newswire (US)
In the news release, LSB Bancshares Reports 1st Quarter Financial
Results, issued yesterday, April 17, 2006, by LSB Bancshares, Inc.
over PR Newswire, we are advised by the company that several
numbers in the table "Financial Highlights" were incorrect as
originally issued. Corrected values for the line items "Provision
for loan losses", "Loans charged off", "Recoveries" and "Net
charge-offs to average loans" are presented below under the column
headings "2006" and "Change". All other values remain unchanged.
LSB Bancshares, Inc. Financial Highlights (In thousands, except
ratios) Three Months Ended March 31 2006 2005 Change Financial
Ratios: Return on average assets 0.72% 0.97% (25)BP Return on
average shareholders' equity 7.59% 9.89% (230) Net Interest Margin
(FTE) 4.92% 4.88% 4 Average Balances: Loans $754,682 $727,081 3.8 %
Earning assets 913,339 873,542 4.6 Total assets 979,251 932,064 5.1
Interest-bearing deposits 702,253 647,356 8.5 Total deposits
829,024 739,821 12.1 Allowance for loan losses: Beginning balance
$8,440 $7,962 6.0 % Provision for loan losses 1,407 539 161.0 Loans
charged off (1,545) (446) 246.4 Recoveries 90 90 - Ending balance
8,392 8,145 3.0 Nonperforming assets Nonperforming Loans: Past due
90 days or more $2,038 $1,785 14.2 % Nonaccrual loans 242 545
(55.6) Restructured loans 617 795 (22.4) Total nonperforming loans
2,897 3,125 (7.3) Other real estate 4,689 1,536 205.3 Total
nonperforming assets 7,586 4,661 62.8 Asset Quality Ratios
Nonperforming loans to total loans 0.38% 0.42% (4)BP Nonperforming
loans to total assets 0.29% 0.33% (4) Allowance for loan losses to
total loans 1.11% 1.09% 2 Net charge-offs to average loans 0.19%
0.05% 14 Allowance for loan losses to nonperforming loans 2.90 X
2.61 X BP -- Denotes Basis Points DATASOURCE: LSB Bancshares, Inc.
Web site: http://www.lsbnc.com/
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