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| Ridgewood Financial, Inc. |
| 55 North Broad Street, Ridgewood, NJ 07450 * (201) 445-4000 |
| Business Description | The company is a S & L holding company for the Ridgewood Savings Bank of New Jersey. The bank provides financial services primarily to individuals, families and small businesses. |
| Offering Information Company has | |||
| Trading As | RSBI (NASNTL) | Industry | Savings Bank (SIC 6036) |
| Type of Stock Offered | Common Shares | Filing Date | 08/27/1998 |
| Domestic Shares Offered | 1,495,000 | Offer Date | 01/07/1999 |
| Foreign Shares Offered | 0 | Filing Price | $10.00 |
| Company Shares | 1,495,000 | Offer Price | $7.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | - - |
| Gross Proceeds | $10,465,000 | Selling | - - |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | - - | Employees | 28 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Ryan, Beck & Co. | Lead Manager | (800) 342-2325 |
| 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 | 12/31/1995 | 12/31/1996 | 12/31/1997 | 06/30/1997 | 06/30/1998 | ||
| Revenues | - | - | 11.986 | 15.112 | 16.166 | 7.925 | 8.145 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | 1.127 | 0.740 | 0.487 | 0.662 | 0.487 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 26.08 | 6.975 | 2.78 | ||
| Net Income Growth (%) | - | - | -34.34 | -34.19 | -26.44 | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | 9.40 | 4.90 | 3.01 | 5.98 | 8.35 |
| Cash Flow - Oper. | 4.27 | -1.77 | 0.90 | ||||
| Cash Flow - Inv. | -6.45 | -32.69 | -34.69 | ||||
| Cash Flow - Fin. | 11.22 | 36.00 | 34.00 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 06/30/1998 | Financial Ratios | ||||
| Total Assets | 242.66 | Current Assets | - | Current Ratio | - |
| Total Liab. | 225.31 | Current Liab. | - | Debt Ratio | 92.85% |
| Total Equity | 17.35 | Working Cap. | - | Debt to Equity Ratio | 12.99 |
| Cash | 19.53 | Return on Assets | 0.20% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to purchase the outstanding common shares of the bank to be used in the conversion. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Malizia, Spidi, Sloane & Fisch |
| Bank's Law Firm | Jamieson, Moore, Peskin & Spicer |
| Auditor | KPMG Peat Marwick |
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