Heritage Financial Group (HBOS, Financial) filed Quarterly Report for the period ended 2010-03-31.
Heritage Financial Group has a market cap of $135.5 million; its shares were traded at around $11.83 with a P/E ratio of 1183 and P/S ratio of 4.34. The dividend yield of Heritage Financial Group stocks is 3.04%.
The Companys and the Banks regulatory capital levels exceed the minimums required by state and federal authorities. The following table reflects the Banks compliance at March 31, 2010, with regulatory capital requirements. These calculations are based on total risk weighted assets of $378.9 million consolidated and $371.8 million for HeritageBank of the South as of March 31, 2010, and average total assets of $569.9 million consolidated and $560.8 million for HeritageBank of the South for the three months ended March 31, 2010.
Heritage Financial Group is subject to Georgia capital requirements for bank holding companies. At March 31, 2010, Heritage Financial Group had total equity of $61.6 million or 10.7% of total assets as of that date. Under Georgia capital requirements for holding companies, Heritage Financial Group had Tier I leverage capital of $58.3 million or 10.2%, which was $35.5 million above the 4.0% requirement.
On December 16, 2008, the Company announced that its Board of Directors had authorized the repurchase of up to 250,000 shares, or approximately 10% of its then outstanding publicly held shares of common stock over a one-year period. This program has been extended to expire on December 31, 2010. As of March 31, 2010, the Company had purchased 76,026 shares at a weighted average price of $8.33 per share under the plan for a total of $633,000. As of March 31, 2010, the Company had 173,974 remaining shares that may be purchased under the current authorization. The repurchases may be made from time to time in open-market or negotiated transactions as deemed appropriate by the Company and will depend on market conditions. As noted below, no equity securities were repurchased during the quarter ended March 31, 2010.
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Heritage Financial Group has a market cap of $135.5 million; its shares were traded at around $11.83 with a P/E ratio of 1183 and P/S ratio of 4.34. The dividend yield of Heritage Financial Group stocks is 3.04%.
Highlight of Business Operations:
The consolidated statement of cash flows for the three months ended March 31, 2010 and 2009, detail cash flows from operating, investing and financing activities. For the three months ended March 31, 2010, net cash provided by operating activities was $3.0 million while investing activities provided $5.9 million, primarily from a decrease in interest-bearing deposits in banks and financing activities provided $585,000 primarily from an increase in deposits, resulting in a net increase in cash during the three month period of $9.5 million.The Companys and the Banks regulatory capital levels exceed the minimums required by state and federal authorities. The following table reflects the Banks compliance at March 31, 2010, with regulatory capital requirements. These calculations are based on total risk weighted assets of $378.9 million consolidated and $371.8 million for HeritageBank of the South as of March 31, 2010, and average total assets of $569.9 million consolidated and $560.8 million for HeritageBank of the South for the three months ended March 31, 2010.
Heritage Financial Group is subject to Georgia capital requirements for bank holding companies. At March 31, 2010, Heritage Financial Group had total equity of $61.6 million or 10.7% of total assets as of that date. Under Georgia capital requirements for holding companies, Heritage Financial Group had Tier I leverage capital of $58.3 million or 10.2%, which was $35.5 million above the 4.0% requirement.
On December 16, 2008, the Company announced that its Board of Directors had authorized the repurchase of up to 250,000 shares, or approximately 10% of its then outstanding publicly held shares of common stock over a one-year period. This program has been extended to expire on December 31, 2010. As of March 31, 2010, the Company had purchased 76,026 shares at a weighted average price of $8.33 per share under the plan for a total of $633,000. As of March 31, 2010, the Company had 173,974 remaining shares that may be purchased under the current authorization. The repurchases may be made from time to time in open-market or negotiated transactions as deemed appropriate by the Company and will depend on market conditions. As noted below, no equity securities were repurchased during the quarter ended March 31, 2010.
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