DCB Financial Corp Announces Preliminary Earnings Results
DELAWARE, Ohio, March 17 /PRNewswire/ -- DCB Financial Corp (OTC Bulletin Board: DCBF), the holding company for The Delaware County Bank and Trust Company, has reported earnings of $4,872,000 for the year ended December 31, 1999, compared to $4,374,000 for the year ended December 31, 1998. The return on average assets and return on average equity was 1.16% and 13.05% for 1999 compared to 1.22% and 13.73% for 1998. Total assets at December 31, 1999, increased to $430 million compared to $418 million at December 31, 1998. Total deposits increased to $372 million at the end of 1999 compared to $369 million at the end of 1998. Mr. Coburn, President & CEO, stated that, "The Delaware County Bank and Trust Company, subsidiary of the corporation, has completed a very fine year in 1999. Net income was $4,872,990 for a return on shareholder equity of 13.05%. Earnings per share were approximately $1.14 for 1999 compared to $1.13 for 1998. Our full annual report will be published and distributed in April. Therefore, details of the past year will be disclosed at this time." "I am pleased to report that your bank experienced absolutely no interruptions to business during the millennium date change or commonly referred to as Y2K. We are very proud of our people who worked diligently to ensure our systems were compliant in every respect." "In our continued effort to provide our shareholders with the most current information, we are putting the final touches on the DCB Financial Corp web page ( www.dcbfinancialcorp.com ). The site will include stock prices and current company financial information and news." The bank encourages you to visit its web site or call if you have any questions.
SOURCE DCB Financial Corp
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