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| Gouverneur Bancorp, Inc. |
| 42 Church Street, Gouverneur, NY 13642 * (315) 287-2600 |
| Business Description | The company is an S&L; holding company for the Gouverneur Savings and Loan Association. The bank obtains deposits, mainly from local depositors, and lends money, mainly residential mortgage loans in St. Lawrence County New York. |
| Offering Information Company has | |||
| Trading As | GOV (AMEX) | Industry | Savings Bank (SIC 6035) |
| Type of Stock Offered | Common Shares | Filing Date | 06/26/1998 |
| Domestic Shares Offered | 1,073,000 | Offer Date | 03/23/1999 |
| Foreign Shares Offered | 0 | Filing Price | $6.00 |
| Company Shares | 1,073,000 | Offer Price | $5.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | - - |
| Gross Proceeds | $5,365,000 | Selling | - - |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | - - | Employees | 16 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| First Albany Corporation | Lead Manager | (518) 447-8641 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 6 Months Ending | ||||||
| Figures in U.S. millions except per share data | 09/30/1997 | 03/31/1997 | 03/31/1998 | ||||
| Revenues | - | - | - | - | 4.424 | 2.203 | 2.227 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | - | - | 0.537 | 0.296 | 0.306 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | - | - | 1.09 | ||
| Net Income Growth (%) | - | - | - | - | 3.38 | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | 12.14 | 13.74 | 13.44 |
| Cash Flow - Oper. | 0.85 | -0.10 | 0.50 | ||||
| Cash Flow - Inv. | -1.85 | -1.10 | 1.42 | ||||
| Cash Flow - Fin. | 0.04 | 0.13 | -0.59 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 03/31/1998 | Financial Ratios | ||||
| Total Assets | 55.09 | Current Assets | - | Current Ratio | - |
| Total Liab. | 43.97 | Current Liab. | 42.92 | Debt Ratio | 79.81% |
| Total Equity | 11.12 | Working Cap. | - | Debt to Equity Ratio | 3.95 |
| Cash | 1.06 | Return on Assets | 0.56% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Serchuk & Zelemyer |
| Bank's Law Firm | Gallagher, Callahan and Gartrell, P.A. |
| Registrar/Transfer Agent | Registrar and Transfer Company, New Jersey |
| Auditor | KPMG Peat Marwick |
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