SAVANNAH, Ga., Dec. 18, 2006 (PRIME NEWSWIRE) -- The Savannah Bancorp, Inc. (Nasdaq:SAVB) announces that today is the ex-dividend date for the previously announced 5-for-4 stock split. The additional shares were distributed on December 15, 2006 to shareholders of record as of December 1, 2006.
The Savannah Bancorp, Inc. is listed on the Nasdaq National Market under the stock symbol SAVB and CUSIP No. 804748101. Approximately 1,156,000 new shares were distributed to existing shareholders bringing the total outstanding shares to approximately 5,779,000 shares. The December 15, 2006 closing share price of $34.55 and all historical share prices and outstanding share amounts will be adjusted for the effect of the stock split effective today.
A table reporting the most recent five-year and five-quarter share and per share data is included for reference purposes while the various online financial databases update their data over the next few days or weeks.
The Savannah Bancorp, Inc. (SAVB), a bank holding company for The Savannah Bank, N.A., Bryan Bank & Trust (Richmond Hill, Georgia) and Harbourside Community Bank, FSB (Hilton Head Island, SC), is headquartered in Savannah, Georgia. SAVB began operations in 1990. Its primary businesses include deposit, credit, trust and mortgage origination services provided to local customers.
Additional information on the Company may be accessed on the corporate website at www.savb.com.
The Savannah Bancorp, Inc. and Subsidiaries
Historical Trend Data - Five Years and Five Quarters
---------------------------------------------------------------------
The following tables show per share information for the most
recent five years and five quarters. Share and per share information
have been restated to reflect the effect of two 5-for-4 stock splits
in December 2006 and December 2004.
For the Most Recent Five Years
------------------------------
(amounts in thousands except per share data)
2005 2004 2003 2002 2001
---- ---- ---- ---- ----
Net income $ 9,040 $ 5,736 $ 4,644 $ 4,508 $ 4,358
Average shares
Basic 5,396 5,136 5,128 5,125 5,085
Diluted 5,531 5,261 5,227 5,200 5,175
Net income per share ($)
Basic 1.68 1.12 0.91 0.88 0.86
Diluted 1.63 1.09 0.89 0.87 0.84
Dividends per share 0.43 0.42 0.41 0.39 0.36
Market price
per common share ($)
High close $ 30.00 $ 22.08 $ 18.56 $ 14.14 $ 14.55
Low close 21.20 16.11 12.15 11.35 9.92
Year-end close 28.38 21.64 18.56 12.20 11.87
At December 31 ($)
Assets 717,901 617,341 476,865 437,598 376,183
Shareholders' equity 58,543 40,071 36,771 34,756 32,071
Book value per share 10.20 7.80 7.17 6.78 6.29
Outstanding shares 5,739 5,140 5,129 5,126 5,099
Performance ratios (%)
Return on equity 19.06 15.04 12.99 13.50 14.27
Return on assets 1.32 1.03 1.05 1.14 1.20
Net interest margin 4.25 3.86 3.91 4.10 4.13
Efficiency ratio 51.91 58.47 59.40 59.17 57.11
For the Most Recent Five Quarters (Unaudited)
---------------------------------------------
(amounts in thousands except per share data)
2006 2005
-------------------------- ----------------
Third Second First Fourth Third
Quarter Quarter Quarter Quarter Quarter
-------------------------- ----------------
Net income $ 2,590 $ 2,538 $ 2,351 $ 2,721 $ 2,354
Average shares
Basic 5,761 5,759 5,759 5,739 5,433
Diluted 5,886 5,894 5,886 5,886 5,584
Net income per share ($)
Basic 0.450 0.441 0.408 0.474 0.433
Diluted 0.440 0.431 0.399 0.462 0.422
Dividends per share 0.112 0.112 0.112 0.108 0.108
Market price
per common share ($)
High close 30.31 30.40 29.58 30.00 27.63
Low close 26.58 27.26 27.12 27.40 24.22
Quarter-end close 26.64 30.26 28.06 28.38 27.60
At quarter-end ($)
Assets 793,746 772,026 764,087 717,901 713,082
Shareholders' equity 64,369 61,018 59,646 58,543 56,696
Book value per share 11.15 10.60 10.36 10.20 9.88
Outstanding shares 5,771 5,759 5,759 5,739 5,739
Performance ratios (%)
Return on equity 16.46 16.91 16.14 18.75 19.16
Return on assets 1.34 1.33 1.29 1.50 1.34
Net interest margin 4.42 4.51 4.59 4.48 4.28
Efficiency ratio 53.90 53.84 54.50 49.40 51.43
Additional financial highlights are available at www.savb.com