This excerpt taken from the ASBI 10-K filed Mar 25, 2005.
Net Income (Loss)
The Company had net income of $2.4 million or $0.77 per diluted share for 2003. The Company incurred a provision expense of $6.4 million in 2003, which was offset by a net gain on the sale of branches of $5.5 million for the same period. The provision expense decreased approximately $900,000 in 2003 compared with 2002. The provision expense was $7.3 million in 2002.
The provision expense included specific reserves of approximately $5.5 million taken in both 2003 and 2002 was largely due to two pools of equipment lease receivables (see Troubled Lease Portfolio Charged-Off).
For a quarterly breakdown of earnings, see Note 19 to the Consolidated Financial Statements.