pab bankshares, inc. - SNL Financial

The following table shows the results of these projections for net interest income expressed as a percentage change over
net interest income in a flat rate scenario for both a gradual change in market interest rates over a twelve-month period and
an immediate change, or “shock”, in market interest rates.
Market
Effect on Net Interest Income
Rate Change Gradual Immediate
+300 bps 14.94% 30.28%
+200 bps 13.21% 19.85%
+100 bps 8.12% 9.72%
-25 bps -1.60% -1.60%
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Quarterly Financial Summary for 2009 and 2008
(The sum of the quarterly results presented may not agree with the results for the full year due to rounding.)
Quarterly Period Ended
March 31 June 30 September 30 December 31
Year ended December 31, 2009:
Interest income $ 16,151 $ 16,090 $ 14,816 $ 12,824
Interest expense 8,959 8,104 7,562 6,946
Net interest income 7,192 7,986
7,254 5,878
Provision for loan losses
1,750 2,000 31,438 16,000
Net interest income
after provision for
loan losses
5,442 5,986 (24,184) (10,122)
Other income 2,106 2,487 889
(946)
Other expenses
8,126 8,102 7,284 17,061
Income before
income taxes (578) 371
(30,579) (28,129)
Income tax (283) 29 (10,623)
3,133
Net income $ (295) $ 342 $ (19,956) $ (31,262)
Basic earnings per share $ (0.03) $ 0.04 $ (1.93) $ (2.27)
Diluted earnings per share $ (0.03) $ 0.04 $ (1.93) $ (2.27)
Year ended December 31, 2008:
Interest income $ 19,030 $ 17,460 $ 17,680 $ 16,814
Interest expense 9,685 8,598
8,460 9,476
Net interest income 9,345 8,862 9,220 7,338
Provision for loan losses 1,200
1,050 7,300 8,500
Net interest income
after provision for
loan losses 8,145 7,812
1,920 (1,162)
Other income 1,643 1,572 1,081 107
Other expenses
7,829 7,191 7,510 8,053
Income before
income taxes 1,959 2,193 (4,509) (9,108)
Income tax 662
730 (1,649) (3,297)
Net income $ 1,297 $ 1,463 $ (2,860) $ (5,811)
Basic earnings per share $ 0.14 $ 0.16 $ (0.31) $ (0.62)
Diluted earnings per share $ 0.14 $ 0.15 $ (0.32) $ (0.60)
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