Stewardship Financial Corporation
Financial Highlights
(unaudited)
(In thousands, except per share data)
Six Months Ended Three Months Ended
June 30, June 30,
2008 2007 2008 2007
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Selected Operating Data:
Total interest income $ 17,367 $ 16,049 $ 8,710 $ 8,117
Total interest expense 6,649 6,574 3,154 3,315
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Net interest income before
provision for loan loss 10,718 9,475 5,556 4,802
Provision for loan loss 360 190 260 180
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Net interest income after
provision for loan loss 10,358 9,285 5,296 4,622
Gain on sales of mortgage loans 109 186 54 97
Gain (loss) on calls and sales
of securities 57 - 16 -
Life insurance proceeds - 459 - 459
Other noninterest income 1,827 1,857 947 868
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Noninterest income 1,993 2,502 1,017 1,424
Noninterest expense 9,041 8,177 4,562 4,182
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Income before income tax
expense 3,310 3,610 1,751 1,864
Income tax expense 1,070 1,070 572 492
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Net income $ 2,240 $ 2,540 $ 1,179 $ 1,372
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Basic earnings per share $ 0.42 $ 0.48 $ 0.22 $ 0.27
Diluted earnings per share $ 0.42 $ 0.47 $ 0.22 $ 0.27
At June 30,
2008 2007
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Selected Financial Data:
Total assets $ 624,055 $ 538,837
Total loans, net of deferred
loan fees 438,689 383,653
Allowance for loan losses 4,768 4,181
Total deposits 509,885 451,478
Stockholders' equity 41,654 38,614
At or for the six month
period ended
June 30,
2008 2007
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Selected Financial Ratios:
Annualized return on average
assets (ROA) 0.77% 0.99%
Annualized return on average
equity (ROE) 10.76% 13.41%
Tier 1 equity to total assets 7.80% 8.47%
Book value per share $ 7.85 $ 7.65
All share data has been restated to include the effect of a 5% stock
dividend paid in November, 2007.
Contact Information: Contact: Mary Beth Steiginga Assistant Secretary 630 Godwin Avenue Midland Park, NJ 07432 201-444-7100