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Monarch Financial Holdings, Inc. 2009 Annual Report - Monarch Bank

Monarch Financial Holdings, Inc. 2009 Annual Report - Monarch Bank

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<strong>Monarch</strong> <strong>Financial</strong> Holding, <strong>Inc</strong>. [ Selected Consolidated <strong>Financial</strong> Data ]At or for the Years Ended December 31,Summary of OperationsInterest incomeInterest expenseNet interest incomeProvision for loan lossesNet interest income after provision for loan lossesNon-interest incomeNon-interest expense<strong>Inc</strong>ome before income taxes<strong>Inc</strong>ome tax expenseNet income attributable to non controlling interestsNet incomeNet income available to common stockholders<strong>2009</strong> 2008 2007 2006 2005$ 32,51810,42122,0975,18416,91335,63445,0347,5132,453(204)$ 4,856$ 3,793(Dollars in thousands, except per share data)$ 30,86714,71616,1515,01411,13719,80429,0231,918505(281)$ 1,132$ 1,107$ 30,93914,48716,45297615,4768,19218,8124,8561,533(165)$ 3,158$ 3,158$ 25,11010,86114,24955913,6903,58611,8705,4061,7866$ 3,626$ 3,626$ 15,5275,50710,0209159,1053,1509,0883,1671,065-$ 2,102$ 2,102Per Share and Shares Outstanding (1) (2)Net income, basicNet income, dilutedBook value at period endBasic weighted average shares outstandingDiluted weighted average shares outstanding$ 0.67$ 0.66$ 8.175,661,2845,784,592$ 0.21$ 0.21$ 7.865,213,0965,292,232$ 0.66$ 0.63$ 7.574,814,7385,019,221$ 0.76$ 0.72$ 7.024,759,4485,026,364$ 0.48$ 0.46$ 6.314,388,7204,583,951Balance Sheet DataTotal assetsTotal loans held for investment, net (HFI)Total deposits$ 689,569528,400540,039$ 597,198496,666496,086$ 503,164415,177389,704$ 407,720318,028314,113$ 331,174260,581273,073Selected Performance RatiosReturn on average assetsReturn on average equityNet interest margin (tax adjusted)Non-interest income to operating revenueEfficiency ratio (3)0.75%7.55%3.64%61.72%77.70%0.20%2.66%3.15%55.08%80.20%0.76%8.86%4.27%33.24%76.33%1.05%11.38%4.43%20.10%66.55%0.82%8.14%4.15%23.92%69.01%Asset Quality RatiosNon-performing loans to period-end loans (HFI)Non-performing assets to total assetsAllowance for loan losses to period-end loans (HFI)Allowance for loan losses to non-performing loans (4)1.40%1.40%1.73%123.15%1.49%1.35%1.59%107.19%0.10%0.08%0.95%958.07%0.03%0.02%1.01%n/m0.00%0.00%1.02%n/mCapitalEquity to assets ratioTotal risk-based capital ratioTotal stockholders’ equity9.85%14.23%$67,90810.01%14.79%$59,7777.26%10.05%$36,5488.34%13.07%$34,0099.00%10.74%$29,796(1) Adjusted to give effect for all stock splits and stock dividends.(2) Computed based on the weighted average number of shares outstanding during each period.(3) Efficiency ratio is non-interest expense divided by the sum of net interest income and non-interest income.(4) “n/m” means not meaningful.

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