 |
| | Business Summary: Hilltop Community Bancorp, Inc. operates as the holding company for Hilltop Community Bank, which provides commercial banking products and services to small business owners, professionals, and families in New Jersey. | | | Address
385 Springfield Avenue
Summit
, NJ 07901
Phone: 908-522-0090
Website: http://www.hilltopcommunitybank.com
| | Auditor |
|---|
Beard Miller & Co.
| | Transfer Agent |
|---|
Registrar & Transfer Co.
| Employees: 27
| Founded: 1999
Domicile: New Jersey | | | |
| | Hilltop Community Bancorp, Inc. operates as the holding company for Hilltop Community Bank, which provides commercial banking products and services to small business owners, professionals, and families in New Jersey. It offers various deposit products, including checking and savings accounts, time deposits, and individual retirement accounts. The company's loan portfolio comprises equity, personal, auto, collateral, commercial real estate, industrial, and term loans; overdrafts; and credit lines. It also offers credit card processing, cash management, and wire transfer services. The company offers its services in surrounding communities in Union, Essex, Morris, and Somerset Counties. Hilltop Community Bancorp, Inc. is based in Summit, New Jersey. | | History: INCORPORATED in New Jersey May 19, 2004. On Oct. 1, 2004, pursuant to a reorganization, the company became the holding company for Hilltop Community Bank in a transaction whereby all outstanding Common shares of the Bank were exchanged, on a one-for-one basis, for Common shares of the company.
The Bank was incorporated in New Jersey Aug. 19, 1999, and it commenced operations Feb. 7, 2000. | | | | Subsidiaries: |
|---|
Hilltop Community Bank
| | | | | | | | | |
|
Management
|
|---|
| Officers | Position |
|---|
| Richard D. Wellbrock | Chairman | | Donald W. Barney | Vice Chairman | | Mortimer J. O'Shea | President & Chief Executive Officer | | Detlef H. Felschow | SR VP & Chief Operating Officer | | Walter A. Wojcik, Jr. | Secretary, SR VP & Chief Financial Officer | | Ronald F. Severino | SR VP | | Louise C. Hall | VP & Controller | | Walter A. Wojcik, Jr. | Investor Relations Contact |
| | Directors |
|---|
| Donald W. Barney | | F. Chandler Coddington, Jr. | | Daniel D. Cronheim | | Peter J. Daley | | Gregory O. Drummond | | Terence Golden | | Nancy J. King | | Kenneth J. Mathews | | Mortimer J. O'Shea | | Judith T. Page | | Robert F. Tokash | | Thomas D. Ucko | | Richard D. Wellbrock | | | |
| | | | Capitalization as of 03/31/2009: | | | | | Authorized Shares | Outstanding Shares |
|---|
| Preferred no par | 1,000,000 | 4,200so1 | | Common no par | 10,000,000 | 2,584,738so2 |
| | | | LONG TERM DEBT: None. | | | | Common no par | | | | UNITS OFFERED THROUGH RIGHTS: March 25, 2003, Hilltop Community Bank offered, through a rights offering, up to 480,000 Common shares and warrants to buy 480,000 Common shares in Units (each consisting of one Common share and one warrant to buy one Common share) at $8.00 per Unit. Units were offered on a priority basis to holders of record Mar. 17, 2003, of the Bank's Common stock. The Bank had the right to issue an additional 62,500 Units to the general public in a community offering. | | | | |
Transfer Agent: Registrar & Transfer Co.
Cranford
, NJ | | | | OTC Bulletin Board( Primary): HTBC | | | | Exchange | Year | High | Low |
|---|
| OTC Bulletin Board | 2009 | 6.0000 | 3.7500 | | OTC Bulletin Board | 2008 | 7.0000 | 4.2500 | | OTC Bulletin Board | 2007 | 9.5000 | 6.3000 | | OTC Bulletin Board | 2006 | 12.5000 | 10.0000 | | OTC Bulletin Board | 2005 | 13.9000 | 10.0500 | | OTC Bulletin Board | 2004 | 13.9000 | 11.5000 | | OTC Bulletin Board | 2003 | 14.0000 | 7.5000 | | OTC Bulletin Board | 2002 | 8.5000 | 7.1000 |
|
| | | | RECENT DIVIDENDS: Common no par: No cash.
5% stock, Dec. 2, 2004.
5% stock, Dec. 2, 2005.
5% stock, Dec. 8, 2006.
Common no par 5% stock dividend, ex-Dec. 6, 2007.
Common no par 5% stock dividend, ex-Dec. 11, 2008.
Common no par 5% stock dividend, ex-Dec. 8, 2009.
Dividends of Hilltop Community Bank: Common, 5% stock paid Dec. 3, 2003. | | | | | |
so1Issued to the U.S. Dept. of the Treasury. Consists of 4,000 Series 2009A Preferred shares and 200 Series 2009B Preferred shares. | |
so2Excl. 64,716 in treas. | |
| | Annual Report |
|---|
| | | Income Statement | |
| 2008 | 2007 |
|---|
| Loan int. & fees | 7,268 | 7,336 | | Sec. int. & divd. inc. | 1,649 | 1,411 | | Int. inc. on Fed. funds sold | 427 | 495 | | Total int. income | 9,344 | 9242 | | Interest on depos. | 3,297 | 3,830 | | Int. on long-term debt | 122 | 122 | | Int. on other borrowed funds | 32 | 63 | | Total int. exp. | 3,451 | 4,015 | | Net int. income | 5,893 | 5,227 | | Prov for loan loss | 120 | 150 | | Net int. inc. aft. prov. for loan loss | 5,773 | 5,077 | | Fees & svce. chgs. | 158 | 129 | | Security profits | (954) | -- | | Other income | 119 | 151 | | Staff exps. | 2,706 | 2,371 | | Occup. & equip. exps. | 643 | 652 | | Other oper. exps. | 1,455 | 1,396 | | Income tax | 53 | 373 | | Net income | 239 | 565 | | Share earns. basic | $0.09 | $0.23 | | Share earns. diluted | $0.09 | $0.22 |
| | | | Balance Sheet | |
| 2008 | 2007 |
|---|
| Assets: |
|
| | Total loans rec. | 116,711 | 111,051 | | Less: Allow. for loan loss | 1,604 | 1,484 | | Net loans | 115,107 | 109,567 | | Cash & in banks | 2,806 | 2,765 | | Fed. funds sold | 20,100 | 250 | | Short term invstmts. | 8,144 | 9,723 | | Invstmt. secs. avail. for sale | 29,132 | 29,227 | | Invstmt. secs. held to maturity | -- | 3,499 | | Net property | 2,288 | 2,444 | | Accrd. int. rec. | 650 | 641 | | Intangibles | 373 | 373 | | Other assets | 2,122 | 726 | | Total assets | 180,722 | 159,215 | | Liabilities: |
|
| | Deposits: |
|
| | NOW accts. | 12,690 | 12,419 | | Money mkt. & svgs. | 48,183 | 45,715 | | Demand | 24,053 | 22,930 | | Time | 75,475 | 57,478 | | Total depos. | 160,401 | 138,542 | | Borrowings | 2,068 | 1,302 | | Other liabs. | 1,560 | 1,746 | | Com. stk. n.p | 23,492 | 22,733 | | Retained earns. | (5,123) | (4,591) | | Treas. stk. | (566) | (599) | | Other stockholders' equity | (1,110) | 82 | | Total liabs. | 180,722 | 159,215 |
| | | |
| | Interim Report
|
|---|
| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
|
|---|
| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
|
|---|
| | | Quarterly Revenue, US$ |
|---|
| Year | Quarter | Revenue | | 2010 |
2 | 2,070,000 | | 2009 |
1 | 2,430,000 | | 2009 |
2 | 2,060,000 | | 2009 |
3 | 2,200,000 | | 2009 |
4 | 2,170,000 | | 2009 |
Full Year
| 8,860,000 | | 2008 |
1 | 2,470,000 | | 2008 |
2 | 2,430,000 | | 2008 |
3 | 2,400,000 | | 2008 |
4 | 1,370,000 | | 2008 |
Full Year
| 8,670,000 | | 2007 |
1 | 2,380,000 | | 2007 |
2 | 2,350,000 | | 2007 |
3 | 2,390,000 | | 2007 |
4 | 2,400,000 | | 2007 |
Full Year
| 9,520,000 | | 2006 |
1 | 2,130,000 | | 2006 |
2 | 2,230,000 | | 2006 |
3 | 2,340,000 | | 2006 |
4 | 2,320,000 | | 2006 |
Full Year
| 9,020,000 | | 2005 |
1 | 1,520,000 | | 2005 |
2 | 1,640,000 | | 2005 |
3 | 1,950,000 | | 2005 |
4 | 2,050,000 | | 2005 |
Full Year
| 7,170,000 |
| | | | | | Quarterly Net Income, US$ |
|---|
| Year | Quarter | Revenue | | 2010 |
2 | 160,000 | | 2009 |
1 | 80,000 | | 2009 |
2 | (50,000) | | 2009 |
3 | 250,000 | | 2009 |
4 | 290,000 | | 2009 |
Full Year
| 570,000 | | 2008 |
3 | 260,000 | | 2008 |
4 | (420,000) | | 2008 |
Full Year
| 240,000 | | 2007 |
Full Year
| 560,000 | | 2006 |
1 | 110,000 | | 2006 |
2 | 110,000 | | 2006 |
Full Year
| 481,000 | | 2005 |
4 | 130,000 | | 2005 |
Full Year
| 232,000 |
| | | | | | Quarterly EPS, US$ |
|---|
| Year | Quarter | Revenue | | 2010 |
2 | Nil | | 2009 |
1 | .01 | | 2009 |
2 | (.05) | | 2009 |
3 | .07 | | 2009 |
4 | .08 | | 2009 |
Full Year
| .12 | | 2008 |
4 | (.15) | | 2008 |
Full Year
| .09 | | 2007 |
Full Year
| .20 | | 2006 |
1 | .05 | | 2006 |
2 | .04 | | 2006 |
Full Year
| .18 | | 2005 |
2 | .01 | | 2005 |
4 | .06 | | 2005 |
Full Year
| .09 |
| | | |
| |
|
