Oneida Financial Corp. (ONFC, Financial) filed Quarterly Report for the period ended 2009-03-31.
ONEIDA FINANCIAL CORP is a bank holding company which through its subsidiary Oneida Savings Bank is engaged primarily in the business of accepting deposits from customers and using those deposits together with funds generated from operations and borrowing proceeds to make one-to-four family residential and commercial real estate loans commercial business loans consumer loans and to invest in mortgage-backed and other securities. The Bank offers a variety of deposit accounts with a range of interest rates and terms. Oneida Financial Corp. has a market cap of $72.8 million; its shares were traded at around $9.37 with and P/S ratio of 1.6. The dividend yield of Oneida Financial Corp. stocks is 5.1%. Oneida Financial Corp. had an annual average earning growth of 46.8% over the past 5 years.
Three Months Ended March 31, Twelve Months Ended Dec. 31,
- -
2009 2008 2008
Average Interest Average Interest Average Interest
Outstanding Earned/ Yield/ Outstanding Earned/ Yield/ Outstanding Earned/ Yield/
Balance Paid Rate Balance Paid Rate Balance Paid Rate
- - - - - - - - -
(Dollars in Thousands)
Assets
Interest-earning Assets:
Loans Receivable $ 301,845 $ 4,481 5.94% $ 285,590 $ 4,704 6.59% $ 293,499 $ 18,535 6.32%
Investment and Mortgage-Backed
Securities 138,261 1,632 4.72% 129,210 1,680 5.20% 143,987 7,379 5.12%
Federal Funds 10,460 14 0.54% 7,711 65 3.37% 7,342 169 2.30%
Equity Securities 5,933 105 7.08% 18,674 276 5.91% 12,814 651 5.08%
- - - - - - - - -
Total Interest-earning Assets 456,499 6,232 5.46% 441,185 6,725 6.10% 457,642 26,734 5.84%
- - - - - - - - -
Non interest-earning Assets:
Cash and due from banks 12,577 12,850 11,725
Other assets 76,693 74,219 74,999
- - -
Total assets $ 545,769 $ 528,254 $ 544,366
= = =
Liabilities and Stockholders'
Equity
Interest-bearing Liabilities:
Money Market Deposits $ 98,386 $ 368 1.52% $ 71,077 $ 431 2.44% $ 83,115 $ 1,654 1.99%
Savings Accounts 76,187 116 0.62% 74,264 145 0.79% 77,266 603 0.78%
Interest-bearing Checking 44,348 37 0.34% 39,577 57 0.58% 40,459 238 0.59%
Time Deposits 155,162 1,096 2.86% 156,483 1,701 4.37% 159,933 6,020 3.76%
Borrowings 47,567 556 4.74% 56,609 666 4.73% 56,194 2,561 4.56%
Notes Payable 3 0 0.00% 142 2 5.66% 88 5 5.68%
- - - - - - - - -
Total Interest-bearing
Liabilities 421,653 2,173 2.09% 398,152 3,002 3.03% 417,055 11,081 2.66%
- - - - - - - - -
Non-interest-bearing Liabilities:
Demand deposits 59,029 62,549 63,711
Other liabilities 9,859 8,285 7,559
- - -
Total liabilities $ 490,541 $ 468,986 $ 488,325
- - -
Stockholders' equity 55,228 59,268 56,041
- - -
Total liabilities and stockholders'
equity $ 545,769 $ 528,254 $ 544,366
= = =
Net Interest Income $ 4,059 $ 3,723 $ 15,653
= = =
Net Interest Spread 3.37% 3.07% 3.18%
= = =
Net Earning Assets $ 34,846 $ 43,033 $ 40,587
= = =
Net yield on average
Interest-earning assets 3.56% 3.38% 3.42%
= = =
Average interest-earning
assets to average
Interest-bearing liabilities 108.26% 110.81% 109.73%
= = =
To Be Well
Capitalized Under
For Capital Prompt Corrective
Actual Adequacy Purposes Action Provisions
- - -
Amount Ratio Amount Ratio Amount Ratio
(Dollars in thousands)
As of March 31, 2009:
Total Capital
(to Risk Weighted Assets) $ 38,327 10.35% $ 29,619 8% $ 37,024 10%
Tier I Capital
(to Risk Weighted Assets) $ 35,774 9.66% $ 14,810 4% $ 22,215 6%
Tier I Capital
(to Average Assets) $ 35,774 6.86% $ 20,858 4% $ 26,073 5%
To Be Well
Capitalized Under
For Capital Prompt Corrective
Actual Adequacy Purposes Action Provisions
- - -
Amount Ratio Amount Ratio Amount Ratio
(Dollars in thousands)
As of December 31, 2008:
Total Capital
(to Risk Weighted Assets) $ 37,214 10.21% $ 29,165 8% $ 36,457 10%
Tier I Capital
(to Risk Weighted Assets) $ 34,590 9.49% $ 14,582 4% $ 21,873 6%
Tier I Capital
(to Average Assets) $ 34,590 6.64% $ 20,837 4% $ 26,046 5%
Return on average assets 0.82% 0.32%
Return on average equity 8.07% 2.90%
Net interest margin 3.56% 3.38%
Efficiency Ratio 82.50% 90.63%
Ratio of operating expense to average total assets 5.79% 5.42%
Ratio of average interest-earning assets to average
interest-bearing liabilities 108.26% 110.81%
Non-performing assets to total assets 0.10% 0.09%
Allowance for loan losses to non-performing loans 433.40% 577.78%
Allowance for loan losses to loans receivable, net 0.86% 0.89%
Read the The complete Report
ONEIDA FINANCIAL CORP is a bank holding company which through its subsidiary Oneida Savings Bank is engaged primarily in the business of accepting deposits from customers and using those deposits together with funds generated from operations and borrowing proceeds to make one-to-four family residential and commercial real estate loans commercial business loans consumer loans and to invest in mortgage-backed and other securities. The Bank offers a variety of deposit accounts with a range of interest rates and terms. Oneida Financial Corp. has a market cap of $72.8 million; its shares were traded at around $9.37 with and P/S ratio of 1.6. The dividend yield of Oneida Financial Corp. stocks is 5.1%. Oneida Financial Corp. had an annual average earning growth of 46.8% over the past 5 years.
Highlight of Business Operations:
Three Months Ended March 31, Twelve Months Ended Dec. 31,
- -
2009 2008 2008
Average Interest Average Interest Average Interest
Outstanding Earned/ Yield/ Outstanding Earned/ Yield/ Outstanding Earned/ Yield/
Balance Paid Rate Balance Paid Rate Balance Paid Rate
- - - - - - - - -
(Dollars in Thousands)
Assets
Interest-earning Assets:
Loans Receivable $ 301,845 $ 4,481 5.94% $ 285,590 $ 4,704 6.59% $ 293,499 $ 18,535 6.32%
Investment and Mortgage-Backed
Securities 138,261 1,632 4.72% 129,210 1,680 5.20% 143,987 7,379 5.12%
Federal Funds 10,460 14 0.54% 7,711 65 3.37% 7,342 169 2.30%
Equity Securities 5,933 105 7.08% 18,674 276 5.91% 12,814 651 5.08%
- - - - - - - - -
Total Interest-earning Assets 456,499 6,232 5.46% 441,185 6,725 6.10% 457,642 26,734 5.84%
- - - - - - - - -
Non interest-earning Assets:
Cash and due from banks 12,577 12,850 11,725
Other assets 76,693 74,219 74,999
- - -
Total assets $ 545,769 $ 528,254 $ 544,366
= = =
Liabilities and Stockholders'
Equity
Interest-bearing Liabilities:
Money Market Deposits $ 98,386 $ 368 1.52% $ 71,077 $ 431 2.44% $ 83,115 $ 1,654 1.99%
Savings Accounts 76,187 116 0.62% 74,264 145 0.79% 77,266 603 0.78%
Interest-bearing Checking 44,348 37 0.34% 39,577 57 0.58% 40,459 238 0.59%
Time Deposits 155,162 1,096 2.86% 156,483 1,701 4.37% 159,933 6,020 3.76%
Borrowings 47,567 556 4.74% 56,609 666 4.73% 56,194 2,561 4.56%
Notes Payable 3 0 0.00% 142 2 5.66% 88 5 5.68%
- - - - - - - - -
Total Interest-bearing
Liabilities 421,653 2,173 2.09% 398,152 3,002 3.03% 417,055 11,081 2.66%
- - - - - - - - -
Non-interest-bearing Liabilities:
Demand deposits 59,029 62,549 63,711
Other liabilities 9,859 8,285 7,559
- - -
Total liabilities $ 490,541 $ 468,986 $ 488,325
- - -
Stockholders' equity 55,228 59,268 56,041
- - -
Total liabilities and stockholders'
equity $ 545,769 $ 528,254 $ 544,366
= = =
Net Interest Income $ 4,059 $ 3,723 $ 15,653
= = =
Net Interest Spread 3.37% 3.07% 3.18%
= = =
Net Earning Assets $ 34,846 $ 43,033 $ 40,587
= = =
Net yield on average
Interest-earning assets 3.56% 3.38% 3.42%
= = =
Average interest-earning
assets to average
Interest-bearing liabilities 108.26% 110.81% 109.73%
= = =
To Be Well
Capitalized Under
For Capital Prompt Corrective
Actual Adequacy Purposes Action Provisions
- - -
Amount Ratio Amount Ratio Amount Ratio
(Dollars in thousands)
As of March 31, 2009:
Total Capital
(to Risk Weighted Assets) $ 38,327 10.35% $ 29,619 8% $ 37,024 10%
Tier I Capital
(to Risk Weighted Assets) $ 35,774 9.66% $ 14,810 4% $ 22,215 6%
Tier I Capital
(to Average Assets) $ 35,774 6.86% $ 20,858 4% $ 26,073 5%
To Be Well
Capitalized Under
For Capital Prompt Corrective
Actual Adequacy Purposes Action Provisions
- - -
Amount Ratio Amount Ratio Amount Ratio
(Dollars in thousands)
As of December 31, 2008:
Total Capital
(to Risk Weighted Assets) $ 37,214 10.21% $ 29,165 8% $ 36,457 10%
Tier I Capital
(to Risk Weighted Assets) $ 34,590 9.49% $ 14,582 4% $ 21,873 6%
Tier I Capital
(to Average Assets) $ 34,590 6.64% $ 20,837 4% $ 26,046 5%
Return on average assets 0.82% 0.32%
Return on average equity 8.07% 2.90%
Net interest margin 3.56% 3.38%
Efficiency Ratio 82.50% 90.63%
Ratio of operating expense to average total assets 5.79% 5.42%
Ratio of average interest-earning assets to average
interest-bearing liabilities 108.26% 110.81%
Non-performing assets to total assets 0.10% 0.09%
Allowance for loan losses to non-performing loans 433.40% 577.78%
Allowance for loan losses to loans receivable, net 0.86% 0.89%
Read the The complete Report
