| MIDSOUTH
BANCORP, INC. AND SUBSIDIARIES |
|
| FINANCIAL
HIGHLIGHTS (UNAUDITED) |
|
|
Three Months
Ended |
Six Months
Ended |
|
June 30, |
June 30, |
| EARNINGS
DATA |
|
2002 |
2001 |
2002 |
2001 |
|
|
|
|
|
| Total
interest income |
|
$6,071,740 |
$6,922,327 |
$11,881,675 |
$13,690,507 |
| Total
interest expense |
|
1,697,011 |
2,842,668 |
3,502,459 |
5,727,665 |
| Net interest
income |
|
4,374,729 |
4,079,659 |
8,379,216 |
7,962,842 |
| Provision
for loan losses |
|
336,000 |
1,034,244 |
694,000 |
1,357,344 |
| Non-interest
income |
|
1,659,230 |
1,366,477 |
3,161,839 |
2,549,693 |
| Non-interest
expense |
|
4,197,565 |
3,821,855 |
8,275,565 |
7,525,723 |
| Provision
for income tax |
|
413,149 |
120,200 |
666,114 |
364,454 |
| Net income |
|
1,087,245
|
469,837
|
1,905,376
|
1,265,014
|
| Preferred
dividend requirement |
|
- |
22,458 |
- |
52,751 |
| Income
available to common shareholders |
|
$1,087,245 |
$447,379 |
$1,905,376 |
$1,212,263 |
| |
|
|
|
|
|
|
|
| PER
COMMON SHARE DATA |
|
| Basic
earnings per share |
|
$0.38 |
$0.18 |
$0.66 |
$0.48 |
| Diluted
earnings per share |
|
$0.37 |
$0.16 |
$0.65 |
$0.43 |
|
|
| Book value
at end of period |
|
$8.57 |
$7.64 |
$8.57 |
$7.64 |
| Market price
at end of period |
|
$13.10 |
$11.10 |
$13.10 |
$11.10 |
| Weighted
average shares outstanding |
|
|
|
Basic |
|
2,883,142 |
2,514,972 |
2,883,142 |
2,503,647 |
|
Diluted |
|
2,946,844 |
2,920,454 |
2,940,992 |
2,916,902 |
| |
|
|
|
|
|
|
|
| AVERAGE
BALANCE SHEET DATA |
|
| Total assets |
|
$359,946,669 |
$351,131,021 |
$357,858,495 |
$342,429,938 |
| Earning assets |
|
331,132,111 |
321,869,855 |
328,546,563 |
313,583,347 |
| Loans and
leases |
|
220,395,576 |
206,236,001 |
216,785,462 |
204,910,390 |
| Interest-bearing
deposits |
|
238,709,360
|
244,218,691
|
240,344,275
|
239,285,181
|
| Total deposits |
|
321,177,565 |
316,936,547 |
321,479,097 |
310,780,542 |
| Common
stockholders' equity |
|
23,667,410 |
19,944,382
|
23,491,293 |
19,187,898
|
| Total
stockholders' equity |
|
23,667,410 |
21,699,964 |
23,491,293 |
20,988,803 |
| |
|
|
|
|
|
|
|
| SELECTED
RATIOS |
|
| Return on average assets
(annualized) |
|
1.21% |
0.54% |
1.07% |
0.74% |
| Return on average
common equity (annualized) |
18.43% |
9.00% |
16.36% |
12.74% |
| Return on
average total equity ( annualized) |
18.43% |
8.68% |
16.36% |
12.15% |
| Leverage
capital ratio |
|
|
8.33% |
7.80% |
8.33% |
7.80% |
| Tier 1
risk-based capital ratio |
|
11.96% |
11.68% |
11.96% |
11.68% |
| Total
risk-based capital ratio |
|
13.11% |
12.72% |
13.11% |
12.72% |
| Allowance
for loan losses as a % |
|
|
of total loans |
|
1.24% |
1.14% |
1.24% |
1.14% |
| |
|
|
|
|
|
|
|
| PERIOD
ENDING BALANCE SHEET DATA |
6/30/2002 |
6/30/2001 |
Net Change |
% Change |
| Total assets |
|
$379,991,713 |
$342,550,304 |
$37,441,409 |
10.93% |
| Earning assets |
|
348,349,503 |
314,864,754 |
$33,484,749 |
10.63% |
| Loans and
leases, net |
|
227,212,579 |
210,532,711 |
$16,679,868 |
7.92% |
| Interest-bearing
deposits |
|
263,550,361 |
233,194,779 |
$30,355,582 |
13.02% |
| Total deposits |
|
341,799,739 |
308,890,932 |
$32,908,807 |
10.65% |
| Common
stockholders' equity |
|
24,852,271 |
19,794,639
|
$5,057,632 |
25.55% |
| Total
stockholders' equity |
|
|
24,852,271 |
21,315,114 |
$3,537,157 |
16.59% |
|
|
|
|
|
|
|
|
|
|