Illinois Valley News, Cave Junction, OR 97523, November 27, 2002
Page 16
Klamath First hometown banking strategy successful
come totaled $6.8 million, or
$1.05 per diluted share, com-
pared to $7.6 million, or $1.13
per diluted share, in fiscal
2001. This includes a $5.3
million (or 52-cents per share
after-tax) gain on the sale of
securities.
Excluding non-cash items
(amortization of intangibles
and expense related to certain
employee stock plans) and
gains on sale of securities,
operating earnings were $1.81
per diluted share, in fiscal
2002 and 54-cents per diluted
share in the fourth quarter.
In fiscal 2001, operating
Klamath First Bancorp
Inc. reported fiscal fourth
quarter net income increased
substantially to $2.4 million,
or 36-cents per diluted share,
driven by extensive branch
expansion and revenue
growth.
Quarterly net income
grew 23 percent sequentially
from $1.9 million, or 30-cents
per diluted share, in the third
fiscal quarter of 2002 and 190
percent from $816,000, or 12-
cents per diluted share, in the
fourth quarter a year ago.
For the full fiscal year
ended Sept. 30, 2002, net in-
earnings were $1.09 per di-
luted share and 16-cents per
diluted share, in the fourth
quarter of fiscal 2001.
“Our strategy of bringing
hometown banking to under-
served markets is proving its
effectiveness by driving core
earnings growth above our
previous targets for the year
while maintaining strong
credit quality,” said Kermit
Houser, president and chef
executive officer. “We have a
strong balance sheet and solid
revenues, and we remain one
of the largest Oregon-based
financial institutions.
Accounting
Internet Service
Sharon Voigt, LTC EA
Try the Rest - Come to the Best!
Now at the office of: Wayne W. Voigt C.P.A.
323 NE 7th, Grants Pass
592-4391
“I’m proud of our man-
agement team, most of whom
have been with us less than
two years,” he said.
Revenue for the quarter
(net interest income before
the provision for loan losses
plus non-interest income)
grew 49 percent to $15.9 mil-
lion from $10.7 million in the
like quarter a year ago. Reve-
nue for the year is also up 48
percent to $59.7 million,
compared to $40.4 million in
fiscal 2001.
Klamath First’s Illinois
Valley Branch is in Down-
town Cave Junction.
CaveNet.com 592-6440
Income Tax Service, Ted Crocker, LTC
(541) 592-3667
Services
Services
*Sand *Gravel *Crushed Rock *Concrete *Aggregates
Federal & State approved materials
1711 Rockydale Road Cave Junction
Mechanic - Specializing in heavy equipment
“Do most anything, go ANYWHERE”
Tax Planning -Tax Preparation -Mutual Funds -IRAs
Ted Crocker, Required Representative
Securities offered through H.D. Vest Investment Securities, Inc.
Member: SIPC - 6333 North State Hwy.
161, Fourth Floor, Irving, TX 95038, (972) 870-6000
Building Contractors
Support the merchants who advertise in the
‘Illinois Valley News’
592-5355
30 years experience
Mobile Home & RV Parks
JBD & S
(behind old Goodwill Bldg.)
NEW & REMODEL
BONDED
INSURED
CCB License #10254
DESIGN & DRAFTING
(541) 592-3933
Sandy Raymond, Owner
P.O. Box151
Cave Junction
OR 97523
38 years experience in Josephine County
Top $ for Timber - One Tree or a Forest
Danger Tree & Residential Specialist
Oil Heaters
Efficient Oil Heaters
6375 Lakeshore Drive, Selma
CCB #70126
UC #3079S
Phone: (541) 597-4553
CCB#68247 - Bonded & Insured
592-4789 (Free Estimates)
(541) 592-4520
or
Cell
(541) 659-5164
or 479-5414
(541) 476-7731
Natural Settings Construction
CCB #101392
New Homes -Additions -Garages
Decks -Concrete Work -Shops
All phases of excavation
Drue Holdeman
CCB12958
Painting
Roofing - Remodeling - Additions
Ron Humphfres (541) 597-4085
Bonded and Insured
EXCAVATOR
DOZER
DUMP TRUCK
SKID STEER
Phone Mayfield Oil Co.
Cell: (541) 660-9660
www.yanasejewelers.com
541-592-4838
Interior
Residential
Exterior
Commercial
License #
80820
Walt Juergens All work
guaranteed
Painting
597-4136
24 years
experience
Lawn Maintenance/Brush Clearing
Hauling/Weed Spraying/Fertilizing/Planting
Ins./License #00281 *Free Estimates
597-2711
541/ 597-2642
The
Licensed - Bonded - Insured
OCL #0102937
24195 Redwood Hwy., Kerby, OR. 97531
CARPET - VINYL - LAMINATE
592-6310
Computers
License # 137572
Repairs Upgrades Networking Troubleshooting
Kerbyville
M U S E U M
(541) 592-5252
Email: info@kerbyvillemuseum.com
144 S. Redwood Highway 592-2413
Website: kerbyvillemuseum.com
Cell - 592-9931
Rusk Ranch
Morgan Horses
Pets
Stallion Services - Stock For Sale
FREE ESTIMATES
592-4658
592-4545
“Home of the beautiful spotted cats”
(541) 597-4533
Sanitation Service
801 Lakeshore Dr.
Selma, OR 97538
www.hotspotsdesertlynx.com
Pat’s Sanitary Service
( 800) 922-1025 or 479-5335
Sewing & Alterations
Concrete
Payments can be deposited
at Cave Junction City Hall
25 years experience
Licensed
Bonded
Insured
Alterations, Sewing & Classes
592-3675
Gates open 7 a.m. to 7 p.m. - 7 days a week
On Site Manager - Reasonable Rates - Secure
181 OLD STAGE RD.
592-4204
Title & Escrow Service
(Josephine County Title Division)
Act responsibly, don’t drink and drive!
Drywall
LICENSED
BONDED
INSURED
New Construction - Remodels - Repairs
Specializing in all your drywall needs
Free Estimates
592-3281
Service Directory
puts your ads in
every week for
THREE FULL MONTHS
$59
Seamless Gutters & Sheet Metal Fabrication
Heating Systems, Fabricate Duct Work/Fittings
Flashing - Any Shape or Size
Lic.#94699
592-3391
Lamb’s Baaa-dy Shop
592-2883
1436 Rockydale Road
Complete body work • Paint • Fiberglass
Monday - Friday
9 a.m. to 4 p.m.
210 W. Lister St., Cave Jct.
592-2131
Check out the classified ads
for great bargains
$59
Puts your ad in
every week for
THREE FULL
MONTHS!
(Same ad, no changes;
paid in advance)