Porter Bancorp Inc. (PBIB, Financial) filed Amended Annual Report for the period ended 2008-12-31.
PBI Bank, Inc. provide quality banking services, great rates and excellent customer service. We believe PBI Bank represents the future of banking and our growing customer base agrees. PBI Bank, Inc. is headquartered in Louisville, KY. They have many banking centers across Central Kentucky to serve our customers banking needs. Porter Bancorp Inc. has a market cap of $132.6 million; its shares were traded at around $15.14 with a P/E ratio of 11.4 and P/S ratio of 1.2. The dividend yield of Porter Bancorp Inc. stocks is 5.2%.
For 2009, management and the Compensation Committee determined that it was in the Companys best interest to implement a company-wide salary freeze given the sustained weakness in business and economic conditions generally in our markets. Upon managements recommendation, the Compensation Committee agreed to hold salaries for all named executive officers at the same level for 2009. The Committee then used the same process for evaluating base salaries for all of our named executives as has been used in previous years. The Committee also reviewed 2007 publicly available national peer group data as compiled by SNL Financial in the 2008 Executive Compensation Review, the most recent data available, to ensure that our base salaries, which total compensation is derived from, were competitive with comparable financial institutions. The publicly available data showed annual compensation, which included base salary, annual bonus and other annual compensation and total compensation, which included annual compensation plus, restricted stock awards, performance units and other compensation paid due to long-term incentive plans. The peer groups were: (i) the 61 financial institutions in the Midwest with assets of $1 billion to $5 billion, (ii) the 40 financial institutions nationwide with assets of $1 billion to $5 billion and a ROAE of between 10.00% and 12.49%. As of December 31, 2008, we had total assets of approximately $1.6 billion and our return on average equity for 2008 was approximately 10.6%.
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PBI Bank, Inc. provide quality banking services, great rates and excellent customer service. We believe PBI Bank represents the future of banking and our growing customer base agrees. PBI Bank, Inc. is headquartered in Louisville, KY. They have many banking centers across Central Kentucky to serve our customers banking needs. Porter Bancorp Inc. has a market cap of $132.6 million; its shares were traded at around $15.14 with a P/E ratio of 11.4 and P/S ratio of 1.2. The dividend yield of Porter Bancorp Inc. stocks is 5.2%.
Highlight of Business Operations:
For 2008, the Committee reviewed 2006 publicly available national peer group data as compiled by SNL Financial in the 2007 Executive Compensation Review, the most recent data available, to ensure that our base salaries, which total compensation is derived from, were competitive with comparable financial institutions. The publicly available data showed annual compensation, which included base salary, annual bonus and other annual compensation and total compensation, which included annual compensation plus, restricted stock awards, performance units and other compensation paid due to long-term incentive plans. The peer groups were: (i) the 54 financial institutions in the Midwest with assets of $1 billion to $5 billion, (ii) the 52 financial institutions nationwide with assets of $1 billion to $5 billion and a ROAE of between 12.50% and 14.99%. As of December 31, 2007, we had total assets of approximately $1.5 billion and our return on average equity for 2007 was approximately 12.4%.For 2009, management and the Compensation Committee determined that it was in the Companys best interest to implement a company-wide salary freeze given the sustained weakness in business and economic conditions generally in our markets. Upon managements recommendation, the Compensation Committee agreed to hold salaries for all named executive officers at the same level for 2009. The Committee then used the same process for evaluating base salaries for all of our named executives as has been used in previous years. The Committee also reviewed 2007 publicly available national peer group data as compiled by SNL Financial in the 2008 Executive Compensation Review, the most recent data available, to ensure that our base salaries, which total compensation is derived from, were competitive with comparable financial institutions. The publicly available data showed annual compensation, which included base salary, annual bonus and other annual compensation and total compensation, which included annual compensation plus, restricted stock awards, performance units and other compensation paid due to long-term incentive plans. The peer groups were: (i) the 61 financial institutions in the Midwest with assets of $1 billion to $5 billion, (ii) the 40 financial institutions nationwide with assets of $1 billion to $5 billion and a ROAE of between 10.00% and 12.49%. As of December 31, 2008, we had total assets of approximately $1.6 billion and our return on average equity for 2008 was approximately 10.6%.
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