First M&F Corporation
Condensed Consolidated Statements of Condition (Unaudited)
(In thousands, except share data)
March 31 December 31 March 31
2006 2005 2005
Cash and due from banks 56,329 56,398 35,134
Interest bearing bank balances 8,798 3,021 6,305
Federal funds sold
6,600
3,700
8,850
Securities available for sale (cost of
$242,855, $186,242 and $197,819) 240,436 185,071 198,354
Loans held for sale 7,429 5,704 14,362
Loans 1,055,698 933,080 849,518
Allowance for loan losses 15,182 12,449 11,776
Net loans 1,040,516 920,631 837,742
Bank premises and equipment 38,549 28,922 26,977
Accrued interest receivable 9,865 9,101 7,498
Other real estate 3,951 3,042 3,926
Goodwill 30,980 16,348 16,348
Other intangible assets 5,147 358 399
Other assets 41,482 34,822 31,623
Total assets 1,490,082 1,267,118 1,187,518
Non-interest bearing deposits 192,517 164,189 136,131
Interest bearing deposits 974,478 809,482 824,743
Total deposits 1,166,995 973,671 960,874
Federal funds and repurchase agreements 6,022 18,062 13,762
Other borrowings 154,559 148,534 91,454
Junior subordinated debt 30,928 - -
Accrued interest payable 3,595 2,717 1,867
Other liabilities 9,105 6,736 6,744
Total liabilities 1,371,204 1,149,720 1,074,701
Noncontrolling interest in subsidiaries
21
21
1
Common stock, 4,498,363, 4,495,159
and 4,498,659 shares issued & outstanding 22,492 22,476 22,493
Additional paid-in capital 29,428 29,340 29,349
Nonvested restricted stock awards 158 86 -
Retained earnings 70,144 68,058 62,187
Accumulated other comprehensive income (3,365) (2,583) (1,213)
Total equity 118,857 117,377 112,816
Total liabilities & equity 1,490,082 1,267,118 1,187,518