Community Bank (CBIN, Financial) filed Quarterly Report for the period ended 2010-06-30.
Community Bank has a market cap of $26.48 million; its shares were traded at around $8.07 with a P/E ratio of 5.53 and P/S ratio of 0.58. The dividend yield of Community Bank stocks is 4.96%.
The base scenario represents projected net interest income over a one year forecast horizon exclusive of interest rate changes to the simulation model. Given a gradual 200 basis point increase in the projected yield curve used in the simulation model (Up 200 Scenario), we estimated that as of June 30, 2010 our net interest income would decrease by an estimated 3.7%, or $1.1 million, over the one year forecast horizon. As of December 31, 2009, in the Up 200 Scenario we estimated that net interest income would decrease 6.3%, or $1.9 million, over a one year forecast horizon ending December 31, 2010.
Certain provisions of the legislation are not immediately effective or are subject to required studies and implementing regulations. Further, community banks with less than $10 billion in assets (less than $15 billion with respect to trust preferred securities) are exempt from certain provisions of the legislation. Management cannot predict how this new legislation may be interpreted and enforced nor how implementing regulations and supervisory policies may affect the Company. There can be no assurance that these or future reforms will not significantly increase the Company s compliance or operating costs or otherwise have a material and adverse effect on the Company s financial position, results of operations, or cash flows.
The Board of Directors of the Company authorized a share repurchase plan in June 2007 under which a maximum of $5.0 million of the Company s common stock can be purchased. As of June 30, 2010, the Company could repurchase up to $3.4 million of the Company s common stock under the current repurchase plan. As a condition for participating in the U.S. Treasury s Troubled Asset Relief Program Capital Purchase Program, the Company is prohibited from repurchasing our common stock.
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Community Bank has a market cap of $26.48 million; its shares were traded at around $8.07 with a P/E ratio of 5.53 and P/S ratio of 0.58. The dividend yield of Community Bank stocks is 4.96%.
Highlight of Business Operations:
During June 2004 and 2006, we completed placements of $7.0 million and $10.0 million floating rate subordinated debentures through Community Bank Shares (IN) Statutory Trust I and Trust II, (trusts we formed), respectively. These securities are reported as liabilities for financial reporting, but Tier 1 Capital for regulatory purposes. We used the proceeds for general business purposes and to support our future opportunities for growth.The base scenario represents projected net interest income over a one year forecast horizon exclusive of interest rate changes to the simulation model. Given a gradual 200 basis point increase in the projected yield curve used in the simulation model (Up 200 Scenario), we estimated that as of June 30, 2010 our net interest income would decrease by an estimated 3.7%, or $1.1 million, over the one year forecast horizon. As of December 31, 2009, in the Up 200 Scenario we estimated that net interest income would decrease 6.3%, or $1.9 million, over a one year forecast horizon ending December 31, 2010.
Certain provisions of the legislation are not immediately effective or are subject to required studies and implementing regulations. Further, community banks with less than $10 billion in assets (less than $15 billion with respect to trust preferred securities) are exempt from certain provisions of the legislation. Management cannot predict how this new legislation may be interpreted and enforced nor how implementing regulations and supervisory policies may affect the Company. There can be no assurance that these or future reforms will not significantly increase the Company s compliance or operating costs or otherwise have a material and adverse effect on the Company s financial position, results of operations, or cash flows.
The Board of Directors of the Company authorized a share repurchase plan in June 2007 under which a maximum of $5.0 million of the Company s common stock can be purchased. As of June 30, 2010, the Company could repurchase up to $3.4 million of the Company s common stock under the current repurchase plan. As a condition for participating in the U.S. Treasury s Troubled Asset Relief Program Capital Purchase Program, the Company is prohibited from repurchasing our common stock.
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