First Natl Bancshares Fla (NYSE:FLB)
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First National Bankshares of Florida, Inc. Reports Third Quarter
Net Income of $8.9 Million, or $0.17 Per Share
NAPLES, Fla., Oct. 14 /PRNewswire-FirstCall/ -- First National Bankshares of
Florida, Inc. (NYSE:FLB), a diversified financial services company focused on
expansion in the high-growth Florida market, today reported third quarter 2004
net income of $8.9 million, or $0.17 per diluted share, compared with $8.3
million, or $0.17 per diluted share, in the third quarter of 2003.
(Logo: http://www.newscom.com/cgi-bin/prnh/20031230/FNBFLOGO )
During the third quarter of 2004, the company incurred after-tax merger
expenses of $2.9 million, or $0.05 per diluted share, related to the
acquisition of Southern Community Bancorp. During the third quarter of 2003,
the company incurred after-tax restructuring expenses of $1.2 million, or $0.03
per share, related to the spin-off from F.N.B. Corporation.
The company's third quarter 2004 operating revenue, consisting of net interest
income on a taxable equivalent basis and non-interest income, totaled $53.1
million, an increase of 14.0% from $46.6 million in operating revenue reported
during the third quarter of 2003.
"During the third quarter, we had the emotional and physical distraction of
four major hurricanes. But thanks to the dedication of our people we were able
to demonstrate solid performance," said Gary L. Tice, Chairman and Chief
Executive Officer of First National Bankshares. "We also were extremely proud
to announce our planned affiliation with Fifth Third Bancorp. This merger is on
schedule for completion in January of 2005."
For the first nine months of 2004, net income totaled $30.6 million, or $0.61
per diluted share. This compares with $27.6 million, or $0.58 per share, a year
ago. During the nine months ended September 30, 2004, the company incurred
pre-tax merger expenses of $4.6 million, or $0.05 per share, related to the
acquisition of Southern Community Bancorp. During the nine months ended
September 30, 2003, the company incurred pre-tax merger and restructuring
expenses of $3.0 million, or $0.04 per share, related to the acquisition of
Charter Banking Corporation and the spin-off from F.N.B. Corporation.
First National Bankshares' third quarter 2004 results reflect a return on
average assets (ROA) of 0.78% and a return on average shareholders' equity
(ROE) of 7.7%. Excluding the impact of the merger-related expenses, the ROA was
1.03% and the ROE was 10.2%.
Due to the significant capital levels required to be assigned to intangibles
for regulatory purposes, management also evaluates performance ratios on a cash
basis, or excluding the impact of intangibles and any related intangible
amortization. On a cash basis, the ROA was 1.13% and ROE was 24.1%. Intangibles
as of September 30, 2004 totaled $427.6 million. Pre-tax intangible
amortization recognized during the quarter totaled $611,000.
Credit quality remained exceptional during the quarter. As of September 30,
2004, the allowance for loan losses totaled $40.3 million, or 1.09% of total
loans and 356% of non-performing loans. These figures compare with 1.11% and
686%, respectively, as of June 30, 2004, and 1.13% and 613%, respectively, as
of September 30, 2003. The acquisition of Southern Community Bancorp
contributed approximately $10.4 million to the allowance for loan losses and
increased non-performing loans by $2.7 million.
Annualized net loan charge-offs for the quarter represented 0.03% of average
loans as of September 30, 2004, versus 0.05% as of June 30, 2004, and 0.07% as
of September 30, 2003. Non-performing assets represented 0.22% of total assets
as of September 30, 2004, compared with 0.12% as of June 30, 2004, and 0.16% as
of September 30, 2003.
Net interest income on a tax-equivalent basis was $37.5 million for the third
quarter of 2004, an increase of 18.9% from $31.5 million a year ago. The net
interest margin for the three months ended September 30, 2004, was 3.79%,
compared with 3.88% for the three months ended June 30, 2004, and 3.97% for the
three months ended September 30, 2003.
Non-interest income totaled $15.6 million for the third quarter of 2004, up
3.9% from $15.0 million in the third quarter of 2003. Revenue from insurance
and wealth management, which is included in non-interest income, totaled $8.5
million during the quarter, compared with $8.6 million a year ago. Gains from
the sale of mortgage loans totaled $702,000 during the third quarter of 2004,
compared with $256,000 a year ago. At September 30, 2004, non-interest income
represented 29.4% of operating revenue.
Non-interest expense for the third quarter of 2004 was $39.2 million, compared
with $33.0 million a year ago. The efficiency ratio for the three months ended
September 30, 2004 was 73.8%, compared with 70.9% for the three months ended
September 30, 2003. Excluding the impact of merger and restructuring expenses,
the efficiency ratios for the same periods were 65.1% and 66.7%, respectively.
Total earning assets grew 48% to $4.7 billion as of September 30, 2004,
compared with $3.2 billion a year ago. Total loans grew 59% to $3.7 billion as
of September 30, 2004, compared with $2.3 billion a year ago. The acquisition
of Southern Community increased total earning assets and total loans by $982.0
million and $864.5 million, respectively.
At September 30, 2004, investment securities totaled $985.4 million and were
20.9% of earning assets, compared with 25.8% at September 30, 2003. Total
deposits were $3.9 billion as of September 30, 2004, compared with $2.7 billion
as of September 30, 2003. The acquisition of Southern Community increased total
deposits by $837.7 million.
On September 3, 2004, First National Bankshares completed the acquisition of
Southern Community Bancorp, the holding company for Southern Community Bank of
Central Florida, Southern Community Bank of Southwest Florida and Southern
Community Bank of South Florida. On the acquisition date, First National
Bankshares issued 11.5 million common shares in exchange for the outstanding
common stock of Southern Community.
Headquartered in Orlando, Florida, Southern Community had approximately $1
billion in assets and $838 million in deposits with 18 full-service banking
offices throughout South and Central Florida. All Southern Community offices
have been merged with and into First National Bankshares' wholly owned
subsidiary, First National Bank of Florida.
On June 30, 2004, First National Bankshares announced the planned acquisition
of First Bradenton Bank. Established in 1997, First Bradenton is a
state-chartered commercial bank with $65.7 million in assets, $60.2 million in
deposits and one banking location in Bradenton, Florida. The transaction is
scheduled to close during the fourth quarter. Upon completion of the merger,
First National Bank will have nearly $5.6 billion in total assets, $4.0 billion
in deposits and 75 full-service financial centers in South and Central Florida.
On August 2, 2004, First National Bankshares of Florida and Fifth Third Bancorp
announced the signing of a definitive agreement in which Fifth Third will
acquire First National Bankshares and its subsidiaries. The acquisition is
expected to close in the first quarter of 2005 and is subject to normal
regulatory approvals in addition to the approval of First National's
shareholders. Upon completion of this transaction, Fifth Third will have
approximately $6.6 billion in assets and 90 banking centers in the state of
Florida. Headquartered in Cincinnati, Ohio, Fifth Third is a diversified
financial services company with $98.3 billion in total assets and 1,005 banking
centers in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee and
West Virginia. The company's common stock is traded through the Nasdaq National
Market System under the symbol "FITB."
About First National Bankshares
Headquartered in Naples, Florida, First National Bankshares of Florida, Inc. is
a $5.5 billion diversified financial services company. The company's focus is
on expansion in the high-growth Florida market. In addition to traditional
community banking, the company provides a complete line of insurance and wealth
management services with 74 full-service financial centers located throughout
South and Central Florida. The company's stock is traded on the New York Stock
Exchange under the symbol "FLB."
This document contains forward-looking statements with respect to the plans,
objectives, financial condition, results of operations and businesses of First
National Bankshares of Florida, Inc.; the benefits and synergies of the planned
acquisition of First Bradenton Bank; the benefits and synergies of the planned
affiliation with Fifth Third Bancorp; and the expected date of closing of the
acquisitions, including statements containing such words as "believes,"
"expects," "projects," "anticipates," and similar expressions. Such statements
involve risks and uncertainties. There are a number of important factors that
could cause future results to differ materially from historical performance and
these forward-looking statements. Factors that might cause such a difference
include, but are not limited to: (1) competitive pressures among depository
institutions increase significantly; (2) changes in the interest rate
environment reduce interest rate margins; (3) general economic conditions are
less favorable than expected; (4) legislative or regulatory changes adversely
affect the businesses in which the company is engaged; (5) costs, delays, and
any other difficulties related to the planned transactions; (6) failure of the
parties to satisfy conditions to the closing of the acquisitions; (7) the
ability to manage and continue growth; and (8) other risk factors as detailed
in First National Bankshares' reports filed with the Securities and Exchange
Commission. First National Bankshares disclaims any responsibility to update
these forward-looking statements.
FIRST NATIONAL BANKSHARES OF FLORIDA, INC.
(Unaudited)
(Dollars in thousands, except per share data)
2004
Third Second First
Average balances Quarter Quarter Quarter
Total assets $4,533,627 $4,030,853 $3,808,391
Earning assets 3,938,467 3,516,235 3,314,374
Securities 907,547 884,285 798,555
Loans, net of unearned 3,021,370 2,628,440 2,509,380
Allowance for loan losses 33,116 29,965 28,895
Intangibles 258,094 184,148 184,137
Non-interest bearing deposits 547,339 535,622 475,369
Interest bearing deposits 2,665,530 2,419,877 2,339,375
Total deposits 3,212,869 2,955,499 2,814,744
Short-term borrowings 488,369 328,225 297,968
Long-term debt 330,440 338,386 290,195
Shareholders' equity 459,004 369,718 371,984
Asset quality data
Non-performing loans $11,316 $4,332 $4,263
Other real estate owned 743 440 440
Non-performing assets 12,059 4,772 4,703
Net loan charge-offs $211 $312 $363
Allowance for loan losses 40,307 29,705 29,141
Non-performing loans / total loans 0.31% 0.16% 0.17%
Non-performing assets / total assets 0.22% 0.12% 0.12%
Allowance for loan losses / total
loans 1.09% 1.11% 1.14%
Allowance for loan losses /
non-performing loans 356.19% 685.71% 683.58%
Net loan charge-offs (annualized) /
average loans 0.03% 0.05% 0.06%
Balances at period end
Total assets $5,503,520 4,087,319 $3,998,528
Earning assets 4,712,590 3,571,654 3,492,684
Securities 985,429 879,952 885,258
Mortgage loans held for sale 18,531 12,827 20,629
Loans, net of unearned 3,707,461 2,677,862 2,559,791
Intangibles 427,636 183,998 184,339
Non-interest bearing deposits $634,549 545,882 560,498
Interest bearing deposits 3,273,236 2,431,729 2,399,655
Total deposits 3,907,785 2,977,611 2,960,153
Short-term borrowings 511,295 388,724 324,603
Long-term debt 353,931 326,196 296,479
Shareholders' equity 686,316 358,403 377,814
Book value per common share 11.57 7.54 7.92
Tangible book value per common share 4.36 3.67 4.06
Tangible capital ratio 5.10 4.47 5.07
FIRST NATIONAL BANKSHARES OF FLORIDA, INC.
(Unaudited)
(Dollars in thousands, except per share data)
2003
Fourth Third Second First
Average balances Quarter Quarter Quarter Quarter
Total assets $3,721,345 $3,683,569 $3,683,030 $2,827,481
Earning assets 3,203,028 3,150,708 3,171,344 2,534,157
Securities 796,648 820,723 869,901 446,171
Loans, net of unearned 2,399,789 2,318,335 2,275,443 2,072,235
Allowance for loan losses 27,047 26,632 25,423 21,976
Intangibles 184,145 184,666 176,779 70,792
Non-interest bearing
deposits 439,786 438,973 445,089 378,727
Interest bearing deposits 2,268,907 2,277,667 2,309,268 1,808,086
Total deposits 2,708,693 2,716,640 2,754,357 2,186,813
Short-term borrowings 323,265 276,293 248,962 271,604
Long-term debt 198,412 199,190 202,703 51,723
Shareholders' equity 445,298 448,903 431,221 277,985
Asset quality data
Non-performing loans $5,521 $4,291 $4,565 $4,897
Other real estate owned 0 1,465 1,641 1,428
Non-performing assets 5,521 5,756 6,206 6,325
Net loan charge-offs $851 $416 $655 $1,086
Allowance for loan losses 28,104 26,283 25,746 24,575
Non-performing loans /
total loans 0.23% 0.18% 0.20% 0.22%
Non-performing assets /
total assets 0.15% 0.16% 0.17% 0.17%
Allowance for loan losses
/ total loans 1.15% 1.13% 1.12% 1.11%
Allowance for loan losses
/ non-performing loans 509.04% 612.51% 563.99% 501.84%
Net loan charge-offs
(annualized) / average
loans 0.14% 0.07% 0.12% 0.21%
Balances at period end
Total assets $3,751,136 $3,710,352 $3,668,719 $3,665,861
Earning assets 3,245,863 3,177,985 3,153,152 3,158,504
Securities 775,334 820,762 822,582 906,927
Mortgage loans held for
sale 15,153 13,819 28,883 25,938
Loans, net of unearned 2,449,382 2,335,533 2,296,770 2,209,204
Intangibles 184,246 184,864 175,162 175,510
Non-interest bearing
deposits 451,837 439,285 460,852 458,505
Interest bearing deposits 2,268,152 2,297,474 2,280,312 2,303,926
Total deposits 2,719,989 2,736,759 2,741,164 2,762,431
Short-term borrowings 354,051 300,724 260,988 233,956
Long-term debt 271,000 194,096 191,855 205,282
Shareholders' equity 365,115 442,734 438,423 422,959
Book value per common
share 7.65 9.33 9.23 8.91
Tangible book value per
common share 3.79 5.43 5.54 5.22
Tangible capital ratio 5.07 7.31 7.54 7.09
FIRST NATIONAL BANKSHARES OF FLORIDA, INC.
(Unaudited)
(Dollars in thousands, except per share data)
3rd Qtr 2004 - For the Nine Months
3rd Qtr 2003 Ended September 30,
Percent Percent
Average balances Variance 2004 2003 Variance
Total assets 23.1 $4,125,786 $3,389,583 21.7
Earning assets 25.0 3,590,965 $2,930,862 22.5
Securities 10.6 863,623 $709,036 21.8
Loans, net of unearned 30.3 2,720,831 $2,208,550 23.2
Allowance for loan losses 24.3 30,668 $24,694 24.2
Intangibles 39.8 208,973 $124,078 68.4
Non-interest bearing deposits 24.7 519,545 421,005 23.4
Interest bearing deposits 17.0 2,475,623 2,131,775 16.1
Total deposits 18.3 2,995,168 2,552,780 17.3
Short-term borrowings 76.8 371,947 265,637 40.0
Long-term debt 65.9 319,713 151,180 111.5
Shareholders' equity 2.3 400,450 383,519 4.4
Asset quality data
Non-performing loans 163.7 $11,316 $4,291 163.7
Other real estate owned -49.3 743 1,465 -49.3
Non-performing assets 109.5 12,059 5,756 109.5
Net loan charge-offs -49.3 $886 $2,157 -58.9
Allowance for loan losses 53.4 40,307 26,283 53.4
Non-performing loans /
total loans 0.31% 0.18%
Non-performing assets /
total assets 0.22% 0.16%
Allowance for loan losses /
total loans 1.09% 1.13%
Allowance for loan losses /
non-performing loans 356.19% 612.51%
Net loan charge-offs
(annualized) / average loans 0.04% 0.13%
Balances at period end
Total assets 48.3 $5,503,520 $3,710,352 48.3
Earning assets 48.3 4,712,590 3,177,985 48.3
Securities 20.1 985,429 820,762 20.1
Mortgage loans held for sale 34.1 18,531 13,819 34.1
Loans, net of unearned 58.7 3,707,461 2,335,533 58.7
Intangibles 131.3 427,636 184,864 131.3
Non-interest bearing deposits 44.5 634,549 439,285 44.5
Interest bearing deposits 42.5 3,273,236 2,297,474 42.5
Total deposits 42.8 3,907,785 2,736,759 42.8
Short-term borrowings 70.0 511,295 300,724 70.0
Long-term debt 82.3 353,931 194,096 82.3
Shareholders' equity 55.0 686,316 442,734 55.0
Book value per common share 11.57 9.33
Tangible book value per common
share 4.36 5.43
Tangible capital ratio 5.10 7.31
*Percent variance not meaningful
FIRST NATIONAL BANKSHARES OF FLORIDA, INC.
(Unaudited)
(Dollars in thousands, except per share data)
2004
Third Second First
Statement of earnings Quarter Quarter Quarter
Interest income - taxable equivalent
basis $52,180 $45,808 $43,897
Interest income $51,753 $45,414 $43,523
Interest expense 14,699 11,845 10,919
Net interest income 37,054 33,569 32,604
Provision for loan losses 400 875 1,400
Net interest income after
provision 36,654 32,694 31,204
Service charges 5,142 4,974 4,898
Insurance commissions and fees 6,768 8,894 7,680
Securities commissions and fees 864 1,206 1,116
Trust income 837 855 814
Gain on sale of securities 107 0 163
Gain on sale of mortgage loans 702 766 1,020
Other 1,211 1,061 1,019
Total non-interest income 15,631 17,756 16,710
Salaries and employee benefits 20,924 19,857 19,494
Occupancy and equipment 5,910 5,376 5,368
Amortization of intangibles 611 345 345
Merger expenses 4,645 0 0
Other 7,104 7,783 7,322
Total non-interest expense 39,194 33,361 32,529
Income before income taxes 13,091 17,089 15,385
Income taxes 4,167 5,798 5,036
Net income (loss) $8,924 $11,291 $10,349
Basic earnings per share 0.17 0.24 0.22
Diluted earnings per share 0.17 0.23 0.21
Earnings excluding merger and
restructuring expenses $11,777 $11,291 $10,349
Basic earnings per share 0.23 0.24 0.22
Diluted earnings per share 0.22 0.23 0.21
Average basic shares outstanding 51,109,030 47,648,095 47,694,145
Average diluted shares outstanding 53,155,536 49,013,292 48,942,636
Common shares outstanding 59,330,025 47,515,420 46,313,224
Cash dividend per common share 0.07 0.07 0.07
Performance ratios
Return on average shareholders'
equity 7.73% 12.28% 11.19%
Return on average assets 0.78% 1.13% 1.09%
Net interest margin (FTE) 3.79% 3.88% 4.00%
Yield on earning assets (FTE) 5.27% 5.24% 5.33%
Efficiency ratio (FTE) 73.79% 64.50% 65.47%
Performance ratios (earnings
excluding merger and
restructuring expenses)
Return on average shareholders'
equity 10.21% 12.28% 11.19%
Return on average shareholders'
equity, cash basis 24.06% 24.93% 22.61%
Return on average assets 1.03% 1.13% 1.09%
Return on average assets, cash basis 1.13% 1.20% 1.17%
Efficiency ratio (FTE) 65.05% 64.50% 65.47%
FIRST NATIONAL BANKSHARES OF FLORIDA, INC.
(Unaudited)
(Dollars in thousands, except per share data)
2003
Fourth Third Second First
Statement of earnings Quarter Quarter Quarter Quarter
Interest income - taxable
equivalent basis $43,363 $42,168 $44,458 $38,534
Interest income $42,819 $41,617 $43,895 $37,963
Interest expense 10,163 10,636 12,068 9,979
Net interest income 32,656 30,981 31,827 27,984
Provision for loan losses 2,672 952 1,828 1,732
Net interest income
after provision 29,984 30,029 29,999 26,252
Service charges 4,353 4,872 4,891 3,999
Insurance commissions and
fees 6,686 6,861 6,558 6,077
Securities commissions and
fees 839 993 1,096 863
Trust income 763 701 681 623
Gain on sale of securities 23 7 102 311
Gain on sale of mortgage
loans 636 256 2,772 1,926
Other 1,448 1,351 1,423 1,305
Total non-interest
income 14,748 15,041 17,523 15,104
Salaries and employee
benefits 19,690 21,042 19,154 16,766
Occupancy and equipment 5,094 5,058 4,928 3,971
Amortization of intangibles 342 341 305 278
Merger expenses 221 0 0 1,014
Other 12,148 6,581 7,145 6,220
Total non-interest expense 37,495 33,022 31,532 28,249
Income before income taxes 7,237 12,048 15,990 13,107
Income taxes 3,090 3,749 5,404 4,388
Net income (loss) $4,147 $8,299 $10,586 $8,719
Basic earnings per share 0.09 0.17 0.22 0.18
Diluted earnings per share 0.09 0.17 0.22 0.18
Earnings excluding merger
and restructuring
expenses $10,682 $9,497 $10,586 $9,378
Basic earnings per share 0.22 0.20 0.22 0.20
Diluted earnings per share 0.22 0.20 0.22 0.19
Average basic shares
outstanding 47,510,616 47,475,241 47,450,845 47,426,950
Average diluted shares
outstanding 48,449,740 48,415,199 48,296,220 48,304,846
Common shares outstanding 46,317,300 46,082,495 46,111,994 46,060,211
Cash dividend per common
share N/A N/A N/A N/A
Performance ratios
Return on average
shareholders' equity 3.69% 7.33% 9.85% 12.72%
Return on average assets 0.44% 0.89% 1.15% 1.25%
Net interest margin (FTE) 4.11% 3.97% 4.10% 4.57%
Yield on earning assets (FTE) 5.37% 5.31% 5.62% 6.17%
Efficiency ratio (FTE) 78.20% 70.90% 63.17% 64.70%
Performance ratios
(earnings excluding merger
and restructuring expenses)
Return on average
shareholders' equity 9.52% 8.39% 9.85% 13.68%
Return on average
shareholders' equity,
cash basis 16.55% 14.57% 16.98% 18.69%
Return on average assets 1.14% 1.02% 1.15% 1.35%
Return on average assets,
cash basis 1.22% 1.10% 1.23% 1.40%
Efficiency ratio (FTE) 60.00% 66.72% 63.17% 62.38%
FIRST NATIONAL BANKSHARES OF FLORIDA, INC.
(Unaudited)
(Dollars in thousands, except per share data)
3rd Qtr 2004 - For the Nine Months
3rd Qtr 2003 Ended September 30,
Percent Percent
Statement of earning Variance 2004 2003 Variance
Interest income - taxable
equivalent basis 23.7 $141,885 $125,160 13.4
Interest income 24.4 $140,690 $123,475 13.9
Interest expense 38.2 37,463 32,683 14.6
Net interest income 19.6 103,227 90,792 13.7
Provision for loan losses -58.0 2,675 4,512 -40.7
Net interest income after
provision 22.1 100,552 86,280 16.5
Service charges 5.5 15,014 13,762 9.1
Insurance commissions and fees -1.4 23,342 19,496 19.7
Securities commissions and fees -13.0 3,186 2,952 7.9
Trust income 19.4 2,506 2,005 25.0
Gain on sale of securities * 270 420 -35.7
Gain on sale of mortgage loans 174.2 2,488 4,954 -49.8
Other -10.4 3,291 4,079 -19.3
Total non-interest income 3.9 50,097 47,668 5.1
Salaries and employee benefits -0.6 60,275 56,962 5.8
Occupancy and equipment 16.8 16,654 13,957 19.3
Amortization of intangibles 79.2 1,301 924 40.8
Merger expenses * 4,645 1,014 *
Other 7.9 22,209 19,946 11.3
Total non-interest expense 18.7 105,084 92,803 13.2
Income before income taxes 8.7 45,565 41,145 10.7
Income taxes 11.1 15,001 13,541 10.8
Net income (loss) 7.5 $30,564 $27,604 10.7
Basic earnings per share 0.0 0.63 0.58 8.6
Diluted earnings per share 0.0 0.61 0.58 5.2
Earnings excluding merger
and restructuring
expenses 24.0 $33,417 $29,461 13.4
Basic earnings per share 15.0 0.68 0.62 9.7
Diluted earnings per share 10.0 0.66 0.62 6.5
Average basic shares
outstanding 7.7 48,825,455 47,444,857 2.9
Average diluted shares
outstanding 9.8 50,358,075 47,470,965 6.1
Common shares outstanding 28.7 59,330,025 46,082,495 28.7
Cash dividend per common share * 0.21 N/A *
Performance ratios
Return on average shareholders'
equity 10.20% 9.62%
Return on average assets 0.99% 1.09%
Net interest margin (FTE) 3.88% 4.22%
Yield on earning assets (FTE) 5.28% 5.71%
Efficiency ratio (FTE) 68.01% 66.22%
Performance ratios (earnings
excluding merger and
restructuring expenses)
Return on average shareholders'
equity 11.15% 10.27%
Return on average shareholders'
equity, cash basis 23.87% 15.47%
Return on average assets 1.08% 1.16%
Return on average assets, cash basis 1.17% 1.23%
Efficiency ratio (FTE) 65.00% 65.50%
*Percent variance not meaningful
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DATASOURCE: First National Bankshares of Florida, Inc.
CONTACT: Clay W. Cone, Vice President, Director of Corporate
Communications, First National Bankshares of Florida, Inc., +1-239-436-1676
Web site: http://www.firstnationalbankshares.com/