Selected Financial Data
The following table sets forth selected financial data for each of the following periods:
| (Thousands of dollars, except per share data) | Quarter ended March 31, 2008 |
Quarter ended March 31, 2007 |
Net interest income |
$796 |
$881 |
Provision for loan losses |
— |
10 |
Non-interest income |
308 |
281 |
Non-interest expense |
1,170 |
1,136 |
Net income |
(65) |
26 |
Earnings per share-basic and diluted |
$(0.06) |
$0.02 |
| Balance sheet totals: | March 31, 2008 | December 31, 2007 |
Total assets |
$72,600 |
$73,925 |
Loans, net |
$46,887 |
$44,594 |
Investment securities |
$11,089 |
$13,936 |
Deposits |
$63,301 |
$66,084 |
Shareholders' equity |
$8,648 |
$8,685 |
| Ratios: | Quarter ended March 31, 2008 |
Quarter ended March 31, 2007 |
Return on assets |
(0.09%) |
0.04% |
Return on equity |
(0.86%) |
0.35% |
Tangible Equity to assets ratio |
10.50% |
9.99% |