CCFNB Bancorp, Inc. Annual Highlights 2013 - First

CCFNB Bancorp, Inc. Annual Highlights 2013 - First

CCFNB Bancorp, Inc.
Annual Highlights 2013
CCFNB Bancorp, Inc.
2013 Annual Highlights
CCFNB Bancorp, Inc. and Subsidiary
Contents
CCFNB Bancorp, Inc. (the “Corporation”) is a registered
financial holding company and organized under the
Pennsylvania Business Corporation Law of 1988. The assets are
primarily those of its wholly owned subsidiary, First Columbia
Bank & Trust Co. First Columbia Bank & Trust Co. is a full
service state-chartered financial institution serving customers
from thirteen locations in: Columbia County– Benton,
Berwick, Bloomsburg, Buckhorn, Catawissa, Lightstreet, Millville,
Orangeville, and Scott Township; and Northumberland
County– Elysburg. The deposits of the bank are insured by the
FDIC to the maximum extent provided by law.
Financial Highlights . . . . . . . . . 1
Message to Shareholders . . 2
Board of Directors
and Officers . . . . . . . . . . . . . . 3
Ten Year Performance
Comparisons . . . . . . . . . . . 4-5
Stockholder Information . . . 6
Employees . . . . . . . . . . . . . . . . . 7
FCBT Locations . . . . . . . . . . . 8
A copy of the Corporation’s Annual Report for the year
ended December 31, 2013, on Form 10-K as filed with the
Securities and Exchange Commission is accessible at our website
www.firstcolumbiabank.com or will be furnished without
charge upon written request to Jeffrey T. Arnold, CPA, CIA,
Senior Vice President & Chief Financial Officer, First Columbia
Bank & Trust Co., 232 East Street, Bloomsburg, PA 17815.
Consolidated Selected Financial Data
(In thousands of dollars, except per share data and ratios)
2013
2012
2011
Earnings
Interest Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 20,691
Interest Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2,505
Provision for Loan Losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
395
Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,818
$ 22,643
3,468
835
$
7,153
$ 24,508
5,126
820
$ 6,776
Per Share
Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
Cash Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
$
$
$
$
3.13
1.35
Balances at December 31
Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 624,010
Investment Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181,835
Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 394,757
Deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 458,260
Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75,796
Ratios
Return on Average Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Return on Average Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Dividend Payout Ratio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.10%
9.05%
43.17%
3.25
1.30
3.05
1.24
$ 607,721
173,799
374,765
463,028
74,536
$ 624,677
199,245
350,838
482,379
71,415
1.15%
9.72%
39.96%
1.09%
9.68%
40.65%
For more complete financial information, please refer to Annual Report on Form 10-K.
2013 Annual Highlights | CCFNB Bancorp, Inc.
1
To Our Shareholders
able to offset this loss of income by closely managing
our non-interest expense and reducing these
expenses by $685 thousand during 2013.
Asset quality remained very strong throughout
the year. Past Due and Non-Accrual Loans totaled
$4.79 million at year end, compared to $5.43 million
at December 31, 2012. ese excellent results were
attained primarily due to the loan underwriting
processes in place within the Bank. Our ratio of
allowance for loan losses to total loans at December
31, 2013 was a solid 1.63 percent.
e Bank recognized the retirement of Director
Elwood R. Harding, Jr. in 2013. Mr. Harding
faithfully and diligently served on our Board of
Directors since 1984, a time span of 29 years. We
deeply appreciate his outstanding service during
this time period. P. Jeffrey Hill was appointed to fill
Mr. Harding’s Board position. Mr. Hill is a partner
in the law firm of Harding, Hill and Turowski, LLP,
Bloomsburg, PA. Mr. Hill has been a practicing
attorney for 34 years, and we are confident his
legal experience will be valuable to our Board of
Directors.
I am pleased to report to you that CCFNB
Bancorp, Inc. experienced another strong year in
2013. Our assets grew from $608 million in 2012
to $624 million at year-end 2013. Net income for the
year was $6.8 million, which was a slight decrease of
4.7 percent from prior year results. is earnings
level resulted in a very healthy Return on Average
Assets (ROAA) of 1.10 percent. As shareholders,
you received a cash dividend per share of $1.35 in
2013, as compared to $1.30 in 2012, which is an
increase of 3.8 percent.
To conclude, we had very positive results in 2013
in spite of a difficult regulatory and economic
environment. e success we experienced would
not have been attainable without the dedication
and contributions from our officers, directors, and
employees. It is through their efforts that our
Company continues to grow and prosper. Once
again, I thank you, our shareholders, for your
ongoing support of CCFNB Bancorp, Inc.
Sincerely,
Our earnings were again challenged by a declining
net interest margin. e margin decreased from
3.49 percent in 2012 to 3.32 percent in 2013. Asset
pricing continued to decline, and we were unable to
reduce interest rates on the liability side of our
balance sheet to match the reduced income.
roughout the year, long-term interest rates
increased, which slowed the pace of residential
mortgage refinances. is resulted in the reduction
of non-interest income of $699 thousand. We were
2
CCFNB Bancorp, Inc. | 2013 Annual Highlights
Lance O. Diehl
President and Chief Executive Officer
CCFNB
Bancorp, Inc.
Board of
Directors
Row 1:
Glenn E. Halterman
Lance O. Diehl
Robert M. Brewington, Jr.
Row 2:
Robert W. Dillon
Frank D. Gehrig
William F. Gittler, Jr.
Row 3:
P. Jeffrey Hill
Joanne I. Keenan
Willard H. Kile, Jr.
Row 4:
W. Bruce McMichael, Jr.
Mary Ann B. Naugle
Andrew B. Pruden
Row 5:
Charles B. Pursel
Steven H. Shannon
Officers
Glenn E. Halterman,
Chairman of the Board
Lance O. Diehl,
President &
Chief Executive Officer
Edwin A. Wenner,
Executive Vice President & Chief Operating Officer
Jeffrey T. Arnold, CPA, CIA,
Chief Financial Officer, Treasurer &
Assistant Secretary
Susan S. Hackett,
Secretary
2013 Annual Highlights | CCFNB Bancorp, Inc.
3
Ten Year Performance Comparison
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
4
CCFNB Bancorp, Inc. | 2013 Annual Highlights
Assets (Millions)
$624,010,000
$650
$600
$550
$500
$450
$400
$350
$300
$250
$200
04 05 06 07
08 09 10
11
12
13
Loans (Millions)
$394,757,000
$375
$350
$325
$300
$275
$250
$225
$200
$175
$150
04 05 06 07
08 09 10
11
12
13
Deposits (Millions)
Net Income (Millions)
$458,260,000
$500
$450
$6.5
$400
$6.0
$350
$5.5
$300
$5.0
$250
$4.5
$200
$4.0
$150
$3.5
$100
$3.0
$50
$2.5
04 05 06 07
08 09 10
11
12
13
$6,818,000
$7.0
04 05 06 07
08 09 10
11
12
13
Stockholders’ Equity (Millions)
$75,796,000
$75
$70
$65
$60
$55
CCFNB Bancorp, Inc.
$50
$45
$40
$35
Every step of the way.
$30
04 05 06 07
08 09 10
11
12
13
2013 Annual Highlights | CCFNB Bancorp, Inc.
5
Positive Growth...
...through teamwork
and dedication.
Stockholder Information
Annual Meeting:
The Annual Meeting of the Stockholders will be held at the First Columbia Bank & Trust Co.
Operations Center, located at 992 Central Road, Bloomsburg, PA at 10:00 am, Tuesday, May 13, 2014.
General Stockholder inquiries
should be addressed as follows:
CCFNB Bancorp, Inc.
Office of the Secretary
232 East Street, PO Box 240
Bloomsburg, PA 17815
Stock Transfer Agent:
American Stock Transfer
& Trust Company
Operations Center
6201 15th Avenue
Brooklyn, NY 11219
212-936-5100
Market Makers:
Boenning & Scattergood
4 Tower Bridge
200 Barr Harbor Drive, Suite 300
West Conshohocken, PA 19428-2979
800-842-8928
6
Janney Montgomery Scott
33 West Third Street
Williamsport, PA 17710
800-652-6639
CCFNB Bancorp, Inc. | 2013 Annual Highlights
Stifel Nicolaus
1146 Cedar Crest Blvd.
Allentown, PA 18103
800-223-9064
2013 Employees
Sandra Allen
Billi Amarose
Jan Anderson
Alexis Apichell
Jeffrey Arnold
Janice Bankes
Sabrina Bankes
Andrea Bartlett
Renee Beach
Cynthia Beagle
David Beagle
Matthew Beagle
M. Marthe Beauvais
Craig Bennett
Marie Bennett
Tammy Benscoter
Meredith Berger
Margaret Bitler
Luanne Bittenbender
Susan Bodnar
Tessa Bogert-Creasy
Kathleen Bowers
Alisha Boyer
Linda Boyer
Karen Brouse
Darlene Brown
Mallory Brown
Heather Brusseau
Kaitlin Burger
Susan Celli
Diane Chandler
Michelle Cherrington
Mana Chmarney
Thomas Church
Leslie Chyko
Michael Coleman
Matthew Coombe
Gloria Cope
Carol Cox
Sally Cox
Linda Curio
Angela Dante
Anne Defrain
Miossottys
De Los Santos
Michelle Densberger
Lance Diehl
Nancy Diehl
Joanna Dillon
Kristen Dohl
Janice Dreese
Thomas Evans, Jr.
Kendra Everitt
Patricia Eyer
Taylor Farr
Robin Fasnacht
Kelly Fensch
Karen Fetterman
Judith Fink
Janet Flick
Debra Force
Donna Fosselman
Teresa Foster
Kathy Frey
Lynn Fritz
Hilda Fry
Jesica Fuehrer
Mary Gasdick
Wava Glenn
Elizabeth Glica
Kaitlyn Goldhorn
Kayla Gonder
Kelly Grabowski
Karen Greubel
Sheri Grozier
Mary Guarino
Janice Hacker
Susan Hackett
Marla Hahn
James Harding
Sally Hatt
Carol Hess
Travis Holtzinger
Bonnie Hook
Ruth Hunter
Joanne James
Joyce Johnson
Pauline Kafafian
Phillip Karas
Emily Karc
Teresa Karchner
Doreen Karns
Dorothy Karpinski
Sheila Kile
Gary Kinney
Rebecca Kline
Amy Knapp
Virginia Kocher
Erica Kramer
Jennifer Krystofosky
Katrina Laubach
Vonda Laubach
Bert Leiby
Hyun Long
Ashley Lopez
Christi Lukus
Julie Lyons
Jean MacDermott
Nicole Machamer
Kathleen Mackafee
Cheryl Mardis
Cynthia Marr
Gayle McGee
Debora McHenry
Nancy McKenzie
Lou Ann Megargell
Joyce Michael
Melissa Miller
Patrick Millham
Hannah Mitchell
Corey Moist
Brenda Morgan
Kimberly Mumaw
Karen Murdock
Petina Napoli
Denise Neidig
Jeffrey Nelson
John Nevil
Deborah Nevius
Brandon Ortman
Paul Page
Misty Pancamo
Brooke Pennington
Debbie Peterman
Anna-Marie Prior
Charles Puckett
Deborah Pure
Lori Reabuck
Rachel Readler
Beth Reeder
Kristene Reibsome
Marcella Richart
William Richie
Sharon Roeder
Patricia Rosario
Lisa Rumberger
Brenda Ruth
Judith Scavone
Rachel Schmierbach
Cynthia Schrecengost
Jamie Schreiber
Lisa Schultz
Mary Beth Shade
Terrie Sidinger
Courtney SinclairMcGovern
Gena Slusser
Faith Smith
Lisa Smith
Sandra Smith
Judy Snyder
Nancy Snyder
Sherry Solomon
Johanna Stanley
Penny Switzer
Richard Talanca
Maryla Thomas
MaryLou Thomas
Samantha Thomas
Ann Toucheloskie
Tracey Travelpiece
Kevin Troutman
Seth Trump
Sally Tucker
Erica Tufts
Sondra Turnbach
Christopher Turner
Maria Valles
Shirley Wagner
Barbara Weber
Edwin Wenner
Jeffrey Whitenight
Melinda Whitenight
Theresa Whitmire
Jason Whitmoyer
Teresa Woll
Tina Wood
Susan Wynings
Barbara Yoder
Cheryl Yoder
Connie Yoder
Emily Young
Pamela Young
2013 Annual Highlights | CCFNB Bancorp, Inc.
7
239
118
487
118
239
239
BENTON
42
442
254
180
Rohrsburg
254
MILLVILLE
44
Turbotville
487
ORANGEVILLE
42
54
642
254
LIGHTSTREET
BUCKHORN
Exit 241
Exit 236
SCOTT
TOWNSHIP
Exit 232
Exit 224
80
11
Danville
54
147
80
93
BLOOMSBURG
Mainville
CATAWISSA
11
339
Columbia
County
487
339
Numidia
61
11
93 BERWICK
44
Exit 212
81
ELYSBURG
81
42
Paxinos
Centralia
61
Mount Carmel
54
54
Ashland
61
First Columbia Bank & Trust Co. Locations
8
Benton
200 Market Street
Benton, PA 17814
(570) 925-6181
Bloomsburg
232 East Street
Bloomsburg, PA 17815
(570) 784-4400
(570) 784-1660
Berwick
1919 West Front Street
Berwick, PA 18603
(570) 752-3230
1010 South Market Street
Bloomsburg, PA 17815
(570) 387-4665
300 Market Street
Berwick, PA 18603
(570) 752-8024
Buckhorn
279 Columbia Mall Drive
Bloomsburg, PA 17815
(570) 387-6100
Catawissa
347 Main Street
Catawissa, PA 17820
(570) 356-2371
Inside the Wal-Mart®
Supercenter
100 Lunger Drive
Bloomsburg, PA 17815
(570) 380-2215
CCFNB Bancorp, Inc. | 2013 Annual Highlights
Elysburg
119 Northumberland Drive
Elysburg, PA 17824
(570) 672-1500
Orangeville
402 Main Street
Orangeville, PA 17859
(570) 683-5200
Lightstreet
1199 Lightstreet Road
Bloomsburg, PA 17815
(570) 784-5600
Scott Township
2691 Columbia Boulevard
(Route 11)
Bloomsburg, PA 17815
(570) 387-4653
Millville
125 South State Street
Millville, PA 17846
(570) 458-5650
CCFNB Bancorp, Inc.
®