| IPO Company Profile © ipodata.com |
| Message Board | Quote | Chart | News | SEC Filings | Peer IPO Companies |
| Pelican Financial, Inc. |
| 315 East Eisenhower, Ann Arbor, MI 48108 * (800) 765-5562 |
| Business Description | The company is a holding company for Pelican National Bank and Washtenaw Mortgage Company. The bank is a full service community bank offering a wide range of deposit and loan product to its customers in Naples, Florida. The mortgage company has been ranked among the top 30 wholesalers of residential mortgage loans nationally since 1997 and is primarily engaged in the origination, acquisition, and servicing of mortgage loans and the sale of those loans and servicing in the secondary market. |
| Offering Information Company has | |||
| Trading As | PFI (AMEX) | Industry | Savings Bank (SIC 6035) |
| Type of Stock Offered | Common Shares | Filing Date | 4/22/99 |
| Domestic Shares Offered | 1,200,000 | Offer Date | 11/10/99 |
| Foreign Shares Offered | 0 | Filing Range | $7.00 - $9.00 |
| Company Shares | 1,200,000 | Offer Price | $7.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.700 |
| Gross Proceeds | $8,400,000 | Selling | - - |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| First American Investors | Lead Manager |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 1/31/95 | 1/31/96 | 1/31/97 | 12/31/97 | 12/31/98 | ||
| Revenues | 14.410 | 14.258 | 10.659 | 11.153 | 34.696 | - | - |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | 1.244 | 0.962 | 0.529 | -0.137 | 3.887 | - | - |
| E.P.S | 0.520 | 0.400 | 0.220 | -0.050 | 1.280 | - | - |
| Revenue Growth (%) | -1.05 | -25.24 | 4.63 | 211.091 | - | ||
| Net Income Growth (%) | -22.67 | -45.01 | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | 8.63 | 6.75 | 4.96 | - | 11.20 | - | - |
| Cash Flow - Oper. | -92.65 | - | - | ||||
| Cash Flow - Inv. | -19.15 | - | - | ||||
| Cash Flow - Fin. | 117.60 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/98 | Financial Ratios | ||||
| Total Assets | 246.41 | Current Assets | - | Current Ratio | - |
| Total Liab. | 234.01 | Current Liab. | 35.06 | Debt Ratio | 94.97% |
| Total Equity | 12.40 | Working Cap. | - | Debt to Equity Ratio | 18.87 |
| Cash | 10.18 | Return on Assets | 1.58% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Manatt, Phelps and Phillips |
| Bank's Law Firm | Schifino & Fleischer |
| Auditor | Crowe, Chizek and Company |
| Send us feedback if you would like to request that we hyperlink a firm on this page | |