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| NCRIC Group, Inc. |
| 1115 30th Street N.W., Washington, DC 20007 * (202) 969-1866 |
| Business Description | The company is the leading provider of medical professional liability insurance in the District of Columbia based on direct premiums written in 1997. |
| Offering Information Company has | |||
| Trading As | NCRI (NASSCM) | Industry | Financial (SIC 6331) |
| Type of Stock Offered | Common Shares | Filing Date | 12/23/1998 |
| Domestic Shares Offered | 1,480,000 | Offer Date | 07/28/1999 |
| Foreign Shares Offered | 0 | Filing Price | $10.00 |
| Company Shares | 1,480,000 | Offer Price | $7.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | - - |
| Gross Proceeds | $10,360,000 | Selling | - - |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Sandler O'Neill & Partners. L.P. | Lead Manager | (212) 466-7737 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1995 | 12/31/1996 | 12/31/1997 | 09/30/1997 | 09/30/1998 | ||
| Revenues | - | - | 16.282 | 19.896 | 20.022 | 15.324 | 19.429 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | 0.699 | 0.991 | 0.959 | 0.779 | 2.522 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 22.20 | 0.633 | 26.79 | ||
| Net Income Growth (%) | - | - | 41.77 | -3.23 | 223.75 | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | 4.29 | 4.98 | 4.79 | 12.98 | 5.08 |
| Cash Flow - Oper. | 1.63 | 5.07 | 8.39 | ||||
| Cash Flow - Inv. | -2.58 | 1.92 | -7.30 | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 09/30/1998 | Financial Ratios | ||||
| Total Assets | 135.85 | Current Assets | - | Current Ratio | - |
| Total Liab. | 103.97 | Current Liab. | - | Debt Ratio | 76.53% |
| Total Equity | 31.88 | Working Cap. | - | Debt to Equity Ratio | 3.26 |
| Cash | 5.16 | Return on Assets | 1.86% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to repay indebtedness, to be loaned to the ESOP to fund its purchase of Common Stock and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Arent, Fox, Kitner, Plotkin & Kahn |
| Bank's Law Firm | Luse Lehman Gorman Pomerenk & Schick |
| Auditor | Deloitte & Touche |
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