Financial Highlights (at or for the quarter ended March 31, 2012)
- No provision for potential loan losses needed to be recorded in the first quarter.
- Service1st Bank has exceptionally strong capital ratios with Total Capital/Total risk-weighted assets of 36.88%.
- Western Liberty also has exceptionally strong capital ratios with Total Capital/Total risk-weighted assets of 72.29%.
- Tangible book value was $5.53 per share, based on 13,466,535 shares outstanding.
- Total cash and cash equivalents held by Western Liberty is $92.9 million, of which $22.6 million is at the holding company level and $745,000 is at the holding company subsidiary LVSP.
- Noninterest bearing deposits jumped by $9.4 million and accounted for 48% of total deposits and core deposits (excluding time certificates of $100,000 or more) are 60% of total deposits.
- Total deposits increased $4.8 million to $126.0 million from the preceding quarter.