MYRTLE BEACH, S.C., Dec. 28, 2006 (PRIME NEWSWIRE) -- Beach First National Bancshares, Inc., (Nasdaq:BFNB) announces that December 22, 2006 is the ex-dividend date for the previously announced 3-for-2 stock split. The additional shares were distributed on December 21, 2006 to shareholders of record as of December 1, 2006.
Beach First National Bancshares is listed on the NASDAQ Global Market under the stock symbol BFNB and CUSIP 073334. Approximately 1,589,000 additional shares were distributed to existing shareholders bringing the total outstanding shares to approximately 4,769,000 shares. The December 21, 2006 closing share price of $26.40 and all historical share prices and outstanding share amounts will be adjusted for the effect of the stock split.
A table reporting the most recent five-year and three-quarter share and per share data is included for reference purposes while the various online financial databases update their data over the next few days or weeks.
Beach First National Bancshares, Inc. (BFNB) is the parent of Beach First National Bank, a $492.0 million financial company headquartered in Myrtle Beach, South Carolina, the Grand Strand's only locally owned community bank. Beach First operates six banking locations in Myrtle Beach, Surfside Beach, North Myrtle Beach, Pawleys Island, and Hilton Head Island, South Carolina, and offers a full line of banking products and services, including NetTeller internet banking. The company's website is beachfirst.com.
The Beach First National Bank logo is available at http://media.primezone.com/prs/single/?pkgid=703
Certain statements in this news release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future plans and expectations, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties, and other factors, such as a downturn in the economy, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements.
Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our company or any person that the future events, plans, or expectations contemplated by our company will be achieved. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
For the Most Recent Five Years Amounts in thousands except per share data 2005 2004 2003 2002 2001 ----------------------------------------------------- Net Income 3,360 1,436 1,009 707 459 Average Shares Basic 3,976 3,016 2,967 1,978 1,485 Diluted 4,111 3,134 3,023 1,987 1,501 Net Income Per Share ($) Basic 0.85 0.48 0.34 0.36 0.31 Diluted 0.82 0.46 0.33 0.36 0.31 At December 31 ($) Assets 397,389 242,091 165,093 118,409 63,204 Shareholder's Equity 39,125 16,333 14,733 13,928 13,149 Book Value per share 8.22 5.41 7.42 7.04 6.65 Outstanding Shares 4,754,937 3,020,262 1,985,652 1,977,552 1,977,552 Performance Ratios (%) Return on Equity 11.37 9.10 7.05 5.24 3.97 Return on Assets 1.08 0.70 0.70 0.75 0.62 Net Interest Margin 4.60 4.30 4.51 4.88 4.34 For the Most Recent Three Quarters (Unaudited) Amounts in thousands except per share data 2006 --------------------------------------------------------------- Third Second First Quarter Quarter Quarter Net Income 1,730 1,423 1,212 Average Shares Basic 4,768 4,761 4,758 Diluted 4,882 4,875 4,865 Net Income Per Share ($) Basic .36 .30 .25 Diluted .35 .29 .25 At Quarter-end ($) Assets 492,036 461,859 426,709 Shareholder's Equity 43,576 40,820 40,080 Book Value per share 9.14 8.57 8.42 Outstanding Shares 4,768,512 4,761,762 4,761,687 For the Most Recent Three Quarters (Unaudited) For the period ending 9/30/2006 6/30/2006 3/31/2006 ----------------------------------------------------------------- Performance Ratios (%) Return on Equity 13.93 12.88 12.02 Return on Assets 1.30 1.22 1.17 Net Interest Margin 4.57 4.50 4.42