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Leesport Financial Corp.
Essick & Barr LLC
Essick & Barr Insurance
The Boothby Group
Leesport Wealth Management LLC
Leesport Realty Solutions, Inc.
Leesport Mortgage LLC
For additional information, contact:
Edward C. Barrett
Chief Financial Officer
This release may contain forward-looking statements with respect to the Companys beliefs, plans, objectives, goals, expectations, anticipations, estimates, and intentions that are subject to significant risks and uncertainties, and are subject to change based on various factors, some of which are beyond the Companys control. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
For Immediate Release
January 25, 2005
Leesport Financial Corp. Earnings
Wyomissing, PA: Leesport Financial Corp. (NASDAQ: FLPB) reported the results of operations for the three and twelve months ended December 31, 2004 and 2003, which included the purchase of Madison Bancshares Group, LTD. (Madison) on October 1, 2004.
Net income for the twelve months ended December 31, 2004 was $5,416,000 as compared to $4,949,000 for the same period in 2003, a 9.4% increase. Net income for the quarter ended December 31, 2004 was $1,382,000, a 3.3% decrease over net income of $1,429,000 for the same period in 2003. Total revenue for the twelve months ended December 31, 2004 was $51,280,000 as compared to $48,034,000 for the same period in 2003, a 6.8% increase. Total revenue for the quarter ended December 31, 2004 was $16,611,000, a 47.8% increase over total revenue of $11,238,000 for the same period in 2003.
Included in net income for the three and twelve months ended December 31, 2004 are one-time merger related costs of $899,000 associated with the Madison acquisition. Included in net income for the twelve months ended December 31, 2003 is a gain of $3,073,000 on the sale of three financial centers on September 5, 2003. The one-time gain on the sale of the financial centers was partially offset by prepayment fees of $2,482,000 on the refinance of $40.9 million of fixed rate, high cost Federal Home Loan Bank (FHLB) advances on September 30, 2003.
The following information was filed by Vist Financial Corp on Thursday, January 27, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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