NORTHERN
STATES FINANCIAL CORPORATION .. |
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
|
| . |
| . |
| . |
| ($ 000's, except per share data) |
Common |
Additional |
Retained |
Accumul-
ated Other
Comp-
rehensive |
Total Stock-
holders' |
|
Years Ended December 31, 1998, 1997
and 1996 |
Stock |
Paid-In Capital
|
Earnings |
Income, Net
|
Equity |
|
| ... |
|
|
|
|
|
| Balance, January 1, 1996 ............................. |
$ 1,775) |
$ 11,123) |
$ 37,617) |
$ 490) |
$ 51,005) |
| Net income
..................................... |
|
|
6,011) |
|
6,011) |
| Cash dividends ($.40 per share) ................ |
|
|
(1,779) |
|
(1,779) |
Exercise of stock options on 9,210 shares
of common stock ........................................ |
4) |
73) |
|
|
77) |
Tax benefit from the exercise of stock
options
............................................. |
|
20) |
|
|
20) |
Unrealized net loss on securities available
for sale
............................................. |
|
|
|
(499) |
(499) |
|
|
| Balance, December 31, 1996 ....................... |
1,779) |
11,216) |
41,849) |
(9) |
54,835) |
| Net income
..................................... |
|
|
7,010) |
|
7,010) |
| Cash dividends ($.48 per share) ................ |
|
|
(2,134) |
|
(2,134) |
Exercise of stock options on 500 shares
of common stock ........................................ |
|
4) |
|
|
4) |
Tax benefit from the exercise of stock
options
............................................. |
|
2) |
|
|
2) |
Unrealized net loss on securities available
for sale
............................................. |
|
|
|
478 ) |
478) |
|
|
| Balance, December 31, 1997 ....................... |
1,779) |
11,222) |
46,725) |
469 ) |
60,195) |
| Net income
..................................... |
|
|
7,304) |
|
7,304) |
| Cash dividends ($.60 per share) ................ |
|
|
(2,671) |
|
(2,671) |
Exercise of stock options on 6,535 shares
of common stock ........................................ |
2) |
52) |
|
|
54) |
Tax benefit from the exercise of stock
options
............................................. |
|
62) |
|
|
62) |
Unrealized net loss on securities available
for sale
............................................. |
|
|
|
169 ) |
169) |
|
|
| Balance, December 31, 1998 ....................... |
$ 1,781) |
$ 11,336) |
$ 51,358) |
) $ 638
) |
$ 65,113) |
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|
| The accompanying notes are an integral part of these consolidated
financial statements. |
| . |
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CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME |
| . |
| . |
| . |
| (000's) |
|
|
|
|
| Years ended December 31, |
1998 |
1997 ) |
1996 |
|
| .. |
|
|
|
| Net Income |
$ 7,304) |
$ 7,010)
|
$ 6,011) |
| Other Comprehensive Income: |
|
|
|
| Unrealized net gains (losses) arising during year on securities available for
sale, net of tax |
169) |
478) |
(499) |
|
|
| Comprehensive Income |
$ 7,473) |
$ 7,488)
|
$ 5,512) |
|
|
| .. |
|
|
|
| The accompanying notes are an integral part of these consolidated
financial statements. |
|
| . |
| . |
| . |
NSFC
ANNUAL |
35 |
REPORT
1998 |
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.. |
|