This excerpt taken from the TBHS 8-K filed Jul 26, 2007.
Earnings Per Share & Performance Ratios
Basic earnings per share for the quarter ended June 30, 2007 were $0.14, as compared to $0.19 for the same period from the prior year. This calculation is based on 5,831,099 average shares outstanding at June 30, 2007 and 3,362,733 at June 30, 2006. Diluted earnings per share for the second quarter of 2007 were $0.13 on 5,993,284 average diluted shares, as compared to $0.18 per share and 3,639,765 average diluted shares for the second quarter of 2006. The increase in shares is attributable to the private placement completed August 2006, the issuance of stock in the acquisition of NNB Holdings (parent of Northern Nevada Bank, NNB) completed November of 2006, and the 5% stock dividend declared in February 2007.
Return on average assets was 0.51% and return on average equity was 4.40% for the second quarter of 2007, as compared to 0.67% and 8.70%, respectively for the second quarter of 2006. It should be noted that the Company was not fully taxable in the second quarter of 2006. On a linked quarterly basis for 2007, return on average assets improved from 0.28% and return on average equity improved from 2.53%.