CITYSTATE
SAVINGS BANK, INC.
STATEMENTS OF INCOME
For the years ended December 31, 2002 and 2001
|
|
|
2002
(Audited)
|
2001
(Audited)
|
|
INTEREST INCOME ON
|
|
Receivables from customers
|
P 79,281,375
|
P 68,108,661 |
| Investments |
27,632,136 |
6,401,293 |
| Deposits |
5,102,348 |
3,430,840 |
|
|
112,015,859 |
77,940,794 |
|
|
|
INTEREST EXPENSE ON DEPOSIT LIABILITIES
|
21,301,892 |
14,962,627 |
|
NET INTEREST INCOME
|
90,713,967 |
62,978,122 |
|
PROVISION FOR PROBABLE LOSSES
|
3,768,347 |
3,581,291 |
|
NET INTEREST INCOME AFTER PROVISION FOR PROBABLE LOSSES
|
86,945,620 |
59,396,831 |
|
OTHER INCOME
|
|
Service charges and fees
|
18,202,347 |
16,788,944 |
|
Miscellaneous
|
12,899,063 |
8,485,846 |
|
|
|
|
31,101,410 |
25,274,790 |
|
|
|
OTHER EXPENSES
|
|
Compensation and employee benefits
|
28,122,298 |
24,650,619 |
|
Occupancy
|
14,394,035 |
13,271,898 |
|
Security, janitorial, messengerial services
|
5,961,752 |
5,338,658 |
|
Amortization of deferred charges
|
3,340,243 |
4,193,038 |
|
Taxes and licenses
|
6,772,097 |
4,171,480 |
|
Representation and entertainment
|
3,143,765 |
3,169,565 |
|
Litigation/assets acquired
|
1,192,037 |
1,730,669 |
|
Other operating expenses
|
21,255,839 |
18,836,962 |
|
|
84,182,066 |
75,362,889 |
|
|
| INCOME BEFORE TAX
|
33,864,964 |
9,308,732 |
|
|
|
INCOME TAX EXPENSE (BENEFIT)
|
|
Current
|
8,994,110 |
438,198 |
|
Deferred
|
1,155,950 |
- |
|
|
10,150,060 |
438,198 |
|
|
| NET INCOME
|
P 23,714,904 |
P 8,870,534 |
CITYSTATE SAVINGS BANK, INC.
STATEMENTS OF CONDITION
DECEMBER 31, 2002 AND 2001
|
| |
2002
|
2001
|
|
RESOURCES |
| Cash and
other cash items |
P
29,842,790 |
P 23,624,260 |
| Due from
Bangko Sentral ng Pilipinas |
11,611,266 |
6,198,474 |
| Due from
other banks |
31,396,107 |
224,379,352 |
| Available
for sale securities |
205,000,000
|
205,000,000 |
| Investments
in bonds and other debt instruments |
13,769,120 |
4,779,527 |
| Receivables
from customers - net |
479,779,526 |
363,666,259 |
| Bank premises,
furniture, fixtures and equipment - net |
103,025,688 |
112,301,194 |
| Real and
other properties owned or acquired |
44,233,052 |
38,276,831 |
| Other
resources |
72,796,309 |
65,598,127 |
| |
| TOTAL
RESOURCES |
P 1,236,453,858 |
P
1,043,833,024 |
| |
|
LIABILITIES AND EQUITY
|
| |
| LIABILITIES
|
| |
| Deposit
Liabilities |
| Demand
|
P
40,613,474 |
P
27,135,991 |
| Savings
|
674,351,534 |
340,505,650 |
| |
|
|
| |
| Total
Deposit Liabilities |
714,965,008 |
367,641,641 |
| |
| Other
liabilities |
38,341,084 |
216,758,521 |
| |
| Total
Liabilities |
753,306,092 |
584,400,162 |
| |
| EQUITY
|
483,147,766 |
459,432,862 |
| |
| TOTAL
LIABILITIES AND EQUITY |
P 1,236,453,858 |
P
1,043,833,024 |
CITYSTATE SAVINGS BANK, INC.
Selected Financial Accounts/Ratios
As of December 31, 2001
(In Percentages) |
| Ratios
(%) |
As of
this month
Dec-01 |
Industry
Standards Dec-01 |
| SOLVENCY
RATIOS |
| Total Valuation Reserves
to Total Loan Portfolio |
1.61 |
11.57 |
| Capital Accounts to
Risk Assets |
80.00 |
22.70 |
| Risk Assets to Total
Assets |
61.50 |
78.30 |
| ASSET
QUALITY RATIOS |
| Non-Performing Loans
to Total Loan Portfolio |
1.31 |
12.00 |
| Non-Performing Assets
to Total Assets |
4.13 |
17.00 |
| Non-Performing Assets
to Total Loan Portfolio and ROPOA-Gross (Broader
Definition) |
7.07 |
27.10 |
| Restructured Loans
(Gross) to Total Loan Portfolio |
1.62 |
2.60 |
| Loan Loss Reserves
to Total Loan Portfolio |
1.61 |
6.10 |
| Loan Loss Reserves
to Non-Performing Loans |
191.77 |
51.10 |
| ROPOA (Gross) to Total
Loan Portfolio |
6.71 |
18.50 |
| ROPOA (Gross) to Total
Loan Portfolio and ROPOA |
6.29 |
15.60 |
| ROPOA to Total Assets
|
3.67 |
10.30 |
| Past Due - Auto Loans
to Total Loan Portfolio |
0.01 |
***n.a.d. |
| Past Due - CCR to
Total Loan Portfolio |
**n.a. |
***n.a.d. |
| Past Due - REL to
Real Estate Loans |
0.25 |
***n.a.d. |
| Past Due - AL to Auto
Loans |
0.04 |
***n.a.d. |
| Past Due - CCR to
Credit Card Receivables |
**n.a. |
***n.a.d. |
| Auto Loans to Total
Loan Portfolio |
25.27 |
***n.a.d. |
| Credit Card Receivables
to Total Loan Portfolio |
**n.a. |
***n.a.d. |
| Real Estate Exposures
to Total Loan Portfolio |
1.87 |
***n.a.d. |
| LIQUIDITY
RATIO |
| Total Loan Portfolio
to Total Deposits |
155.16 |
88.30 |
| PROFITABILITY
RATIOS |
| Net Interest Margin
|
13.10 |
5.50 |
| Based
On Net Income Before Tax |
| Return on Ave. Assets
|
1.35 |
0.10 |
| Return on Ave. Equity
|
2.64 |
0.60 |
| Based
On Net Income After Tax |
| Return on Ave. Assets
|
1.29 |
0.00 |
| Return on Ave. Equity
|
2.51 |
(0.30)
|
|
Legend:
**n.a.- not applicable
***n.a.d. - no available dat
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