|
NORTHERN STATES
FINANCIAL CORPORATION
|
|
CONSOLIDATED
STATEMENTS OF STOCKHOLDERS' EQUITY
|
| ($ 000s, except per sahre
data) |
Common
|
Additional
|
Retained
|
Accumulated Other
Comprehensive
|
Total
Stockholders'
|
| Years Ended December 31,
1999, 1998 and 1997 |
Stock
|
Paid-In Capital
|
Earnings
|
Income (Loss), Net
|
Equity
|
| Balance, January 1, 1997 |
$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 gain 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 ($.60 per
share) |
|
|
(2,671)
|
|
(2,671)
|
| Exercise of stock options
on 6,535 |
|
|
|
|
|
| shares
of common stock |
2
|
52
|
|
|
54
|
| Tax benefit from teh exercise
of stock options |
|
62
|
|
|
62
|
| Unrealized net gain on securities |
|
|
|
|
|
| available
for sale |
|
|
|
169
|
169
|
| Balance, December 31, 1998 |
1,781
|
11,336
|
51,358
|
638
|
65,113
|
| Net income |
|
|
7,884
|
|
7,884
|
| Cash dividends ($.75 per
share) |
|
|
(3,344)
|
|
(3,344)
|
| Exercise of stock options
on 4,945 |
|
|
|
|
|
| shares
of common stock |
2
|
40
|
|
|
42
|
| Tax benefit from the exercise
of stock options |
|
29
|
|
|
29
|
| Unrealized net loss on securities |
|
|
|
|
|
| available
for sale |
|
|
|
(4,190)
|
(4,190)
|
| Balance, December 31, 1999 |
$1,783
|
$11,405
|
$55,898
|
$(3,552)
|
$65,534
|
|
The accompanying notes are an integral
part of these consolidated financial statements.
|
|
| |
|
CONSOLIDATED
STATEMENTS OF COMPREHENSIVE INCOME
|
| |
| ($ 000s) |
|
|
|
| Years ended December 31, |
1999
|
1998
|
1997
|
| Net income |
$7,884
|
$7,304
|
$7,010
|
| Other comprehensive income (loss): |
|
|
|
| Unrealized
gains (losses) arising during |
|
|
|
| year on
securities available for sale, net of tax |
(4,190)
|
169
|
478
|
| Comprehensive income |
$3,694
|
$7,473
|
$7,488
|
|
The accompanying notes are an integral
part of these consolidated financial statements.
|
|
|
|
|
|
NSFC ANNUAL REPORT 1999 39
|
|
