PBIB » Topics » Capital

This excerpt taken from the PBIB 10-Q filed May 7, 2009.

Capital

Stockholders’ equity increased $1.0 million to $165.2 million at March 31, 2009 compared with $164.2 million at December 31, 2008. The increase was due to net income earned during the 2009 first quarter reduced by dividends declared on common stock and dividends paid on 5% cumulative preferred stock. Both the Company and the bank qualified as well capitalized under regulatory guidelines at March 31, 2009.

Each of the federal bank regulatory agencies has established minimum leverage capital requirements for banking organizations. Banking organizations must maintain a minimum ratio of Tier 1 capital to adjusted average quarterly assets equal to 3% to 5% subject to federal bank regulatory evaluation of an organization’s overall safety and soundness.

The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp, Inc. and PBI Bank at the dates indicated:

 

                 March 31, 2009     December 31, 2008  
     Regulatory
Minimums
    Well-Capitalized
Minimums
    Porter
Bancorp
    PBI
Bank
    Porter
Bancorp
    PBI
Bank
 

Tier I capital

   4.0 %   6.0 %   12.00 %   10.15 %   12.13 %   10.06 %

Total risk-based capital

   8.0     10.0     13.91     12.07     14.05     11.99  

Tier I leverage ratio

   4.0     5.0     9.76     8.26     10.10     8.37  
These excerpts taken from the PBIB 10-K filed Mar 26, 2009.

Capital

Stockholders’ equity increased $41.9 million to $164.2 million at December 31, 2008 compared with $122.3 million at December 31, 2007. The increase was primarily due to the sale of $35 million of preferred stock to the U.S. Treasury Department under the Capital Purchase Program. We issued senior preferred shares to the U.S. Treasury that pay a cumulative annual dividend of 5% for the first five years and 9% thereafter. Additionally, the increase in stockholders’ equity was due to net income earned during 2008 reduced by dividends declared on common stock. Both our company and PBI Bank qualified as well capitalized under regulatory guidelines at December 31, 2008.

Kentucky banking laws limit the amount of dividends that may be paid to a holding company by its subsidiary banks without prior approval. These laws limit the amount of dividends that may be paid in any calendar year to current year’s net income, as defined in the laws, combined with the retained net income of the preceding two years, less any dividends declared during those periods. At December 31, 2008, without prior approval, PBI Bank had approximately $33.9 million of retained earnings that could be used to pay dividends.

Each of the federal bank regulatory agencies has established minimum leverage capital requirements for banking organizations. Banking organizations must maintain a minimum ratio of Tier 1 capital to adjusted average quarterly assets equal to 3% to 5% subject to federal bank regulatory evaluation of an organization’s overall safety and soundness. At December 31, 2008, Porter Bancorp’s and PBI Bank’s ratios of Tier 1 capital and total capital to risk-adjusted assets, and leverage ratios exceeded the minimum regulatory requirements and the minimum requirements for well capitalized institutions.

The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp and PBI Bank at December 31, 2008:

 

     Regulatory
Minimums
    Well-Capitalized
Minimums
    Porter
Bancorp
    PBI
Bank
 

Tier 1 capital

   4.0 %   6.0 %   12.13 %   10.06 %

Total risk-based capital

   8.0     10.0     14.05     11.99  

Tier 1 leverage ratio

   4.0     5.0     10.10     8.37  

Capital

FACE="Times New Roman" SIZE="2">Stockholders’ equity increased $41.9 million to $164.2 million at December 31, 2008 compared with $122.3 million at December 31, 2007. The increase was primarily due to the sale of $35 million of
preferred stock to the U.S. Treasury Department under the Capital Purchase Program. We issued senior preferred shares to the U.S. Treasury that pay a cumulative annual dividend of 5% for the first five years and 9% thereafter. Additionally, the
increase in stockholders’ equity was due to net income earned during 2008 reduced by dividends declared on common stock. Both our company and PBI Bank qualified as well capitalized under regulatory guidelines at December 31, 2008.

Kentucky banking laws limit the amount of dividends that may be paid to a holding company by its subsidiary banks without prior approval. These laws limit
the amount of dividends that may be paid in any calendar year to current year’s net income, as defined in the laws, combined with the retained net income of the preceding two years, less any dividends declared during those periods. At
December 31, 2008, without prior approval, PBI Bank had approximately $33.9 million of retained earnings that could be used to pay dividends.

Each of
the federal bank regulatory agencies has established minimum leverage capital requirements for banking organizations. Banking organizations must maintain a minimum ratio of Tier 1 capital to adjusted average quarterly assets equal to 3% to 5%
subject to federal bank regulatory evaluation of an organization’s overall safety and soundness. At December 31, 2008, Porter Bancorp’s and PBI Bank’s ratios of Tier 1 capital and total capital to risk-adjusted assets, and
leverage ratios exceeded the minimum regulatory requirements and the minimum requirements for well capitalized institutions.

The following table shows the
ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp and PBI Bank at December 31, 2008:

 










































































   Regulatory
Minimums
  Well-Capitalized
Minimums
  Porter
Bancorp
  PBI
Bank
 

Tier 1 capital

  4.0% 6.0% 12.13% 10.06%

Total risk-based capital

  8.0  10.0  14.05  11.99 

Tier 1 leverage ratio

  4.0  5.0  10.10  8.37 
This excerpt taken from the PBIB 10-Q filed Oct 31, 2008.

Capital

Stockholders’ equity increased $5.5 million to $127.8 million at September 30, 2008, compared with $122.3 million at December 31, 2007. The increase was due to net income earned during the first nine months of 2008 reduced by dividends declared and changes in accumulated other comprehensive loss. The Company and the Bank qualified as well capitalized under regulatory guidelines at September 30, 2008.

Each of the federal bank regulatory agencies has established minimum leverage capital requirements for banking organizations. Banking organizations must maintain a minimum ratio of Tier 1 capital to adjusted average quarterly assets equal to 3% to 5% subject to federal bank regulatory evaluation of an organization’s overall safety and soundness.

The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp, Inc. and PBI Bank at the dates indicated:

 

     Regulatory
Minimums
    Well-Capitalized
Minimums
    September 30, 2008     December 31, 2007
         Porter
Bancorp
    PBI
Bank
    Porter
Bancorp
    PBI
Bank

Tier I capital

   4.0 %   6.0 %   9.55 %   9.18 %   10.39 %     9.30%

Total risk-based capital

   8.0     10.0     11.49     11.12     11.64     10.55

Tier I leverage ratio

   4.0     5.0     8.11     7.78     9.07       8.11
This excerpt taken from the PBIB 10-Q filed Aug 11, 2008.

Capital

Stockholders’ equity increased $3.2 million to $125.4 million at June 30, 2008 compared with $122.3 million at December 31, 2007. The increase was due to net income earned during the first six months of 2008 reduced by dividends declared. The Company and the Bank qualified as well capitalized under regulatory guidelines at June 30, 2008.

Each of the federal bank regulatory agencies has established minimum leverage capital requirements for banking organizations. Banking organizations must maintain a minimum ratio of Tier 1 capital to adjusted average quarterly assets equal to 3% to 5% subject to federal bank regulatory evaluation of an organization’s overall safety and soundness.

The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp, Inc. and PBI Bank at the dates indicated:

 

                 June 30, 2008     December 31, 2007  
     Regulatory
Minimums
    Well-Capitalized
Minimums
    Porter
Bancorp
    PBI
Bank
    Porter
Bancorp
    PBI
Bank
 

Tier I capital

   4.0 %   6.0 %   9.34 %   8.82 %   10.39 %   9.30 %

Total risk-based capital

   8.0     10.0     10.59     10.07     11.64     10.55  

Tier I leverage ratio

   4.0     5.0     8.03     7.60     9.07     8.11  
This excerpt taken from the PBIB 10-Q filed May 13, 2008.

Capital

Stockholders’ equity increased $2.5 million to $124.7 million at March 31, 2008 compared with $122.3 million at December 31, 2007. The increase was due to net income earned during the 2008 first quarter reduced by dividends declared. The Company qualified as well capitalized under regulatory guidelines at March 31, 2008. PBI Bank qualified as adequately capitalized.

Each of the federal bank regulatory agencies has established minimum leverage capital requirements for banking organizations. Banking organizations must maintain a minimum ratio of Tier 1 capital to adjusted average quarterly assets equal to 3% to 5% subject to federal bank regulatory evaluation of an organization’s overall safety and soundness.

 

24

 


Table of Contents

The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp, Inc. and PBI Bank at the dates indicated:

 

                 March 31, 2008     December 31, 2007  
     Regulatory
Minimums
    Well-Capitalized
Minimums
    Porter
Bancorp
    PBI
Bank
    Porter
Bancorp
    PBI
Bank
 

Tier I capital

   4.0 %   6.0 %   9.35 %   8.51 %   10.39 %   9.30 %

Total risk-based capital

   8.0     10.0     10.60     9.76     11.64     10.55  

Tier I leverage ratio

   4.0     5.0     8.14     7.42     9.07     8.11  
These excerpts taken from the PBIB 10-K filed Mar 27, 2008.

Capital

Stockholders’ equity increased $14 million to $122.3 million at December 31, 2007 compared with $108.3 million at December 31, 2006. The increase was due to the issuance of common stock in our acquisition of Ohio County Bancshares and net income earned during 2007 reduced by dividends declared. Both our company and PBI Bank qualified as well capitalized under regulatory guidelines at December 31, 2007.

Kentucky banking laws limit the amount of dividends that may be paid to a holding company by its subsidiary banks without prior approval. These laws limit the amount of dividends that may be paid in any calendar year to current year’s net income, as defined in the laws, combined with the retained net income of the preceding two years, less any dividends declared during those periods. At December 31, 2007, without prior approval, PBI Bank had approximately $24.1 million of retained earnings that could be utilized for payment of dividends.

Each of the federal bank regulatory agencies has established minimum leverage capital requirements for banking organizations. Banking organizations must maintain a minimum ratio of Tier 1 capital to adjusted average quarterly assets equal to 3% to 5% subject to federal bank regulatory evaluation of an organization’s overall safety and soundness. At December 31, 2007, Porter Bancorp’s and PBI Bank’s ratios of Tier I capital and total capital to risk-adjusted assets, and leverage ratios exceeded the minimum regulatory requirements and the minimum requirements for well capitalized institutions.

 

39


Table of Contents

The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp and PBI Bank at December 31, 2007:

 

     Regulatory
Minimums
    Well-Capitalized
Minimums
    Porter
Bancorp
    PBI
Bank
 

Tier I capital

   4.0 %   6.0 %   10.39 %   9.30 %

Total risk-based capital

   8.0     10.0     11.64     10.55  

Tier I leverage ratio

   4.0     5.0     9.07     8.11  

Capital

SIZE="2">Stockholders’ equity increased $14 million to $122.3 million at December 31, 2007 compared with $108.3 million at December 31, 2006. The increase was due to the issuance of common stock in our acquisition of Ohio County
Bancshares and net income earned during 2007 reduced by dividends declared. Both our company and PBI Bank qualified as well capitalized under regulatory guidelines at December 31, 2007.

STYLE="margin-top:12px;margin-bottom:0px">Kentucky banking laws limit the amount of dividends that may be paid to a holding company by its subsidiary banks without prior approval. These laws limit the amount of
dividends that may be paid in any calendar year to current year’s net income, as defined in the laws, combined with the retained net income of the preceding two years, less any dividends declared during those periods. At December 31, 2007,
without prior approval, PBI Bank had approximately $24.1 million of retained earnings that could be utilized for payment of dividends.

Each of the federal
bank regulatory agencies has established minimum leverage capital requirements for banking organizations. Banking organizations must maintain a minimum ratio of Tier 1 capital to adjusted average quarterly assets equal to 3% to 5% subject to federal
bank regulatory evaluation of an organization’s overall safety and soundness. At December 31, 2007, Porter Bancorp’s and PBI Bank’s ratios of Tier I capital and total capital to risk-adjusted assets, and leverage ratios exceeded
the minimum regulatory requirements and the minimum requirements for well capitalized institutions.

 


39







Table of Contents


The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios
for Porter Bancorp and PBI Bank at December 31, 2007:

 










































































   Regulatory
Minimums
  Well-Capitalized
Minimums
  Porter
Bancorp
  PBI
Bank
 

Tier I capital

  4.0% 6.0% 10.39% 9.30%

Total risk-based capital

  8.0  10.0  11.64  10.55 

Tier I leverage ratio

  4.0  5.0  9.07  8.11 
This excerpt taken from the PBIB 10-Q filed Nov 13, 2007.

Capital

Stockholders’ equity increased $5.9 million to $114.2 million at September 30, 2007 compared with $108.3 million at December 31, 2006. The increase was due to net income of $10.6 million earned during the first nine months of 2007 reduced by $4.6 million in dividends declared. The Company and the Bank qualified as well capitalized under regulatory guidelines at September 30, 2007.

Each of the federal bank regulatory agencies has established minimum leverage capital requirements for banking organizations. Banking organizations must maintain a minimum ratio of Tier 1 capital to adjusted average quarterly assets equal to 3% to 5% subject to federal bank regulatory evaluation of an organization’s overall safety and soundness.

 

28


Table of Contents

The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp, Inc. and PBI Bank at the dates indicated:

 

    

Regulatory
Minimums

   

Well-Capitalized
Minimums

    September 30, 2007     December 31, 2006  
         Porter
Bancorp
    PBI
Bank
    Porter
Bancorp
    PBI
Bank
 

Tier I capital

   4.0 %   6.0 %   11.84 %   9.62 %   14.32 %   11.56 %

Total risk-based capital

   8.0     10.0     13.09     10.87     15.57     12.81  

Tier I leverage ratio

   4.0     5.0     10.22     8.28     11.86     9.56  

Porter Bancorp, Inc. and PBI Bank had ratios of Tier I capital and total capital to risk-adjusted assets and leverage ratios significantly above the regulatory minimums and minimums for well-capitalized financial institutions.

This excerpt taken from the PBIB 10-Q filed Aug 8, 2007.

Capital

Stockholders’ equity increased $3.5 million to $111.9 million at June 30, 2007 compared with $108.3 million at December 31, 2006. The increase was due to net income of $7.3 million earned during the first six months of 2007 reduced by $3.1 million in dividends declared. The Company and the Bank qualified as well capitalized under regulatory guidelines at June 30, 2007.

Each of the federal bank regulatory agencies has established minimum leverage capital requirements for banking organizations. Banking organizations must maintain a minimum ratio of Tier 1 capital to adjusted average quarterly assets equal to 3% to 5% subject to federal bank regulatory evaluation of an organization’s overall safety and soundness.

 

27


Table of Contents

The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp, Inc. and PBI Bank at the dates indicated:

 

                 June 30, 2007     December 31, 2006  
     Regulatory
Minimums
    Well-Capitalized
Minimums
    Porter
Bancorp
    PBI
Bank
    Porter
Bancorp
    PBI
Bank
 

Tier I capital

   4.0 %   6.0 %   12.64 %   10.24 %   14.32 %   11.56 %

Total risk-based capital

   8.0     10.0     13.89     11.50     15.57     12.81  

Tier I leverage ratio

   4.0     5.0     10.82     8.77     11.86     9.56  

Porter Bancorp, Inc. and PBI Bank had ratios of Tier I capital and total capital to risk-adjusted assets and leverage ratios significantly above the regulatory minimums and minimums for well-capitalized financial institutions.

This excerpt taken from the PBIB 10-Q filed May 14, 2007.

Capital

Stockholders’ equity increased $2.2 million to $110.5 million at March 31, 2007 compared with $108.3 million at December 31, 2006. The increase was due to net income earned during 2007 reduced by dividends declared. The Company and the Bank qualified as well capitalized under regulatory guidelines at March 31, 2007.

Each of the federal bank regulatory agencies has established minimum leverage capital requirements for banking organizations. Banking organizations must maintain a minimum ratio of Tier 1 capital to adjusted average quarterly assets equal to 3% to 5% subject to federal bank regulatory evaluation of an organization’s overall safety and soundness.

 

24


Table of Contents

The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp, Inc. and PBI Bank at the dates indicated:

 

                 March 31, 2007     December 31, 2006  
     Regulatory
Minimums
    Well-Capitalized
Minimums
    Porter
Bancorp
    PBI
Bank
    Porter
Bancorp
    PBI
Bank
 

Tier I capital

   4.0 %   6.0 %   13.42 %   10.84 %   14.32 %   11.56 %

Total risk-based capital

   8.0     10.0     14.67     12.09     15.57     12.81  

Tier I leverage ratio

   4.0     5.0     11.58     9.36     11.86     9.56  
This excerpt taken from the PBIB 10-K filed Mar 27, 2007.

Capital

Stockholders’ equity increased $36.4 million to $108.3 million at December 31, 2006 compared with $71.9 million at December 31, 2005. The increase was due to the completion of our initial public offering and net income earned during 2006 reduced by dividends declared. Both our company and PBI Bank qualified as well capitalized under regulatory guidelines at December 31, 2006.

Kentucky banking laws limit the amount of dividends that may be paid to a holding company by its subsidiary banks without prior approval. These laws limit the amount of dividends that may be paid in any calendar year to current year’s net income, as defined in the laws, combined with the retained net income of the preceding two years, less any dividends declared during those periods. At December 31, 2006, without prior approval, PBI Bank had approximately $19.8 million of retained earnings that could be utilized for payment of dividends.

 

48


Table of Contents

Each of the federal bank regulatory agencies has established minimum leverage capital requirements for banking organizations. Banking organizations must maintain a minimum ratio of Tier 1 capital to adjusted average quarterly assets equal to 3% to 5% subject to federal bank regulatory evaluation of an organization’s overall safety and soundness. At December 31, 2006, Porter Bancorp’s and PBI Bank’s ratios of Tier I capital and total capital to risk-adjusted assets, and leverage ratios exceeded the minimum regulatory requirements and the minimum requirements for well capitalized institutions.

The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp and PBI Bank at December 31, 2006:

 

     Regulatory
Minimums
    Well-Capitalized
Minimums
    Porter
Bancorp
    PBI
Bank
 

Tier I capital

   4.0 %   6.0 %   14.32 %   11.56 %

Total risk-based capital

   8.0     10.0 %   15.57     12.81  

Tier I leverage ratio

   4.0     5.0 %   11.86     9.56  
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