TCAtlanfed Bancorp Inc.The parent company of Atlantic...

BY THE NUMBERS

April 25, 1992

TC

Atlanfed Bancorp Inc.

The parent company of Atlantic Federal Savings Bank said its fourth-quarter profits rose 24 percent and its annual income more than half, as loan losses on a portfolio made up mostly of residential mortgages stayed firmly under control.

The company said lower interest rates deserved much of the credit for improved operating profits, because deposit rates came down more quickly than rates on loans. Deposits rose $28 million during the year that ended March 31, mostly because the company bought deposits of two closed thrifts from federal regulators.

Three months ended 3/31/92

.. .. .. Income .. .. .. .. Share

'92.. ..393,000.. .. .. .. 0.42

'91.. .. 317,000 .. .. .. .. 0.34

change .. +24.0 .. .. .. ..+23.5

.. .. Assets .. .. .. .. Deposits

'92 .. 263,369,569 .. .. 200,040,008

'91.. ..238,870,087 .. .. 172,114,204

% change .. +10.3 .. .. .. .. +16.2

Twelve months ended 3/31/92

.. .. .. Income .. .. .. .. Share

'92.. ..1,627,386 .. .. .. 1.72

91.. .. 1,037,804 .. .. .. 1.10

% change ..+56.8 .. .. .. ..+56.4

Loan portfolio

Three months ended 3/31/92

.. .. .. Loans outstanding .. .. .. Net charge-offs

'92 .. .. 226,269,109 .. .. .. .. Less than $2,000

'91 .. .. 209,853,636 .. .. .. .. .. .. .. -- ..

% change .. .. +7.8 .. .. .. .. .. .. .. .. .. ..

.. .. Addition to allowance .. .. ..Allowance

.. for loan losses .. .. .. .. for loan losses

'92 .. .. 400,000 .. .. .. .. .. .. 735,000

'91 .. .. 299,000 .. .. .. .. .. .. 339,000

% change .. +33.8 .. .. .. .. .. .. .. +116.8

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