| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Delaware First Financial Corporation |
| 400 Delaware Avenue, Wilmington, DE 19801 * (302) 421-9090 |
| The company is a holding company for Ninth Ward Savings Bank, FSB. The company is a community and customer oriented federal mutual savings bank operating a single office since 1922. The bank originates residential mortgage loans. |
| Manager | Tier | Phone |
| Trident Securities, Inc. | Lead Manager | (919) 781-8900 |
| NASSCM: | DFFN | Financial: | SIC 6035 | |
| Type of Shares: | Common Shares | Filing Date: | 9/30/97 | |
| U.S. Shares: | 1,157,000 | Offer Date: | 1/5/98 | |
| Non-U.S. Shares: | 0 | Filing Price: | $10.00 | |
| Primary Shares: | 1,157,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.00 | |
| Offering Amount: | $11,570,000 | Selling: | $0.00 | |
| Expenses: | $0 | Reallowance: | $0.00 | |
| Post-IPO Shares: | - |
| Issuer's Law Firm: | Peabody & Brown |
| Bank's Law Firm: | Elias, Matz, Tiernan & Herrick |
| Auditor: | Deloitte & Touche |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 6/30/97 | 6/30/96 | 6/30/97 | ||
| Revenue: | $8.16 | $4.14 | $3.87 | Assets: | $112.55 |
| Net Income: | -$0.09 | $0.12 | $0.04 | Curr Assets: | |
| EPS: | Liabilities: | $106.46 | |||
| Prior EPS: | -$0.35 | -$0.15 | Curr Liab: | ||
| Cash Flow/Oper: | $0.31 | $0.31 | $13.74 | Equity: | $6.09 |
| Cash Flow/Fin: | $15.00 | $0.24 | -$11.98 | Cash: | $2.84 |
| Cash Flow/Inv: | -$13.72 | $0.24 | |||
| Competition |
| The city of Wilmington, Delaware, the market area in which the company conducts its business, is a highly competitive market for loans and deposits. Thirty-two financial institutions operate 50 active branch offices and compete for $18.9 billion in total deposits in this market. Many of these financial institutions are large national and regional entities with greater resources than the company's. Additionally, the company operates from only one office and, as a result, has a relatively high cost of funds as well as limited product line. As such, the company can provide no assurance concerning its ability to achieve profitability in future periods. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes. |