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United Commerce Bancorp Quarterly Statements
2011 1st Qtr / 2nd Qtr / 3rd Qtr / 4th Qtr
2010
1st Qtr /
2nd Qtr /
3rd Qtr / 4th Qtr
2009
1st Qtr /
2nd Qtr /
3rd Qtr /
4th Qtr
2008
1st Qtr /
2nd Qtr /
3rd Qtr /
4th Qtr
2007
1st Qtr /
2nd Qtr /
3rd Qtr
/
4th Qtr
2006
3rd Qtr
/
4th Qtr
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Company Press Release Dated January 19, 2012
United Commerce Bancorp Releases Fourth Quarter 2011 Results |
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| Total assets at December 31, 2011 were $155 million, compared to $181 million one year ago. Total deposits were $142 million compared to $160 million on the same date last year. Totals loans were $125 million compared to $154 million one year ago. Net loss for 2011 was $1.29 million compared to net income of $521,000 in 2010. The book value of United Commerce Bancorp stock was $14.05 per share as of December 31, 2011 compared to $15.29 one year ago. |
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| Thomas G. Risen, President and CEO, commented: "During the last 7 months of 2011 we reduced total assets by just over $26 million. This action allowed us to increase our loan loss provision expense to $4.3 million, up from $2.1 million last year, while achieving a Tier 1 Capital Ratio of 7.71% and a Total Risk Based Capital Ratio of 12.32% for the fourth quarter. The actual Tier 1 Ratio was 8.2% at year end. The bank is required by our regulators to achieve a Tier 1 Ratio for the first quarter 2012 of 8.5% and a Total Risk Based Ratio of 12%, and we have put in place action plans that we believe will accomplish those goals. The economic environment has certainly impacted our community; however we believe that we have addressed the known loan issues facing the bank at this time." |
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| "On January 31, 2012 United Commerce Bank will celebrate its 12th birthday. United Commerce Bank is the only bank headquartered in Bloomington. We are locally owned, with all decisions and policies made right here in town. On behalf of our directors and staff I want to thank our shareholders and customers for their support over the past 12 years." |
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| United Commerce Bancorp was formed May 31, 2005 and is the parent company of United Commerce Bank, which opened for business on January 31, 2000 and was the first new bank chartered in Bloomington in more than 100 years. United Commerce Bancorp trades on the OTC Bulletin Board under the symbol of UCBN. |
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United Commerce Bancorp, 211 South College Avenue, Bloomington, IN
www.unitedcommercebank.com |
Condensed Balance Sheet
(in thousands)
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Dec. 31, 2011 |
Dec. 31, 2010 |
| Cash and cash equivalents |
$ 5,603 |
$ 13,066 |
| Investment securities |
22,885 |
10,558 |
| Loans, net of allowance for losses |
121,292 |
151,733 |
| Premises and equipment |
1,745 |
1,817 |
| Other assets |
3,959 |
3,795 |
| Total Assets |
$ 155,484 |
$ 180,969 |
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| Total deposits |
141,625 |
160,495 |
| Other liabilities |
292 |
5,713 |
| Total stockholders' equity |
13,567 |
14,761 |
| Total Liabilities and Stockholders' Equity |
$ 155,484 |
$ 180,969 |
Condensed Statements of Operations
(in thousands)
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4th Qtr 2011 |
4th Qtr 2010 |
| Interest income
| $ 1,850 |
$ 2,168 |
| Interest expense |
394 |
646 |
| Net interest income |
1,456 |
1,522 |
| Provision for loan losses |
2,015 |
450 |
| Noninterest income |
284 |
341 |
| Noninterest expense |
1,037 |
1,181 |
| Pre-tax Net Income |
$ (1,312) |
$ 232 |
| Taxes |
(558) |
66 |
| Net Income |
$ (754)
|
$ 166 |
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Y-T-D 2011 |
Y-T-D 2010 |
| Interest income
| $ 7,910 |
$ 8,886 |
| Interest expense |
2,136 |
2,642 |
| Net interest income |
5,774 |
6,244 |
| Provision for loan losses |
4,265 |
2,060 |
| Noninterest income |
956 |
1,219 |
| Noninterest expense |
4,639 |
4,637 |
| Pre-tax Net Income |
$ (2,174) |
$ 766 |
| Taxes |
(889) |
245 |
| Net Income |
$ (1,285) |
$ 521 |
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