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| Port Financial Corp. |
| 689 Massachusetts Avenue, Cambridge, MA 02139 * (617) 661-4900 |
| Business Description | The company is a savings and loan holding company for the Cambridgeport Bank of Cambridge, MA. The bank's mission is to be a profitable community-oriented provider of banking products and services to individuals, and businesses, including residential and commercial mortgages, consumer loans and a variety of deposit instruments. |
| Offering Information Company has | |||
| Trading As | PORT (NASNTL) | Industry | Savings Bank (SIC 6035) |
| Type of Stock Offered | Common Shares | Filing Date | 11/22/99 |
| Domestic Shares Offered | 7,440,000 | Offer Date | 4/11/00 |
| Foreign Shares Offered | 0 | Filing Price | $10.00 |
| Company Shares | 7,440,000 | Offer Price | $10.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | - - |
| Gross Proceeds | $74,400,000 | Selling | - - |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | - - | Employees | - - |
| 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 | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/96 | 12/31/97 | 12/31/98 | 9/30/98 | 9/30/99 | ||
| Revenues | - | - | 37.741 | 43.961 | 48.656 | 36.292 | 37.097 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | 2.487 | 3.666 | 4.189 | 3.064 | 3.607 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 16.48 | 10.680 | 2.22 | ||
| Net Income Growth (%) | - | - | 47.41 | 14.26 | 17.72 | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | 6.59 | 8.34 | 8.61 | 9.72 | 8.44 |
| Cash Flow - Oper. | 3.03 | 2.69 | 6.69 | ||||
| Cash Flow - Inv. | -55.35 | -37.46 | -38.89 | ||||
| Cash Flow - Fin. | 53.18 | 62.71 | 42.43 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 721.81 | Current Assets | - | Current Ratio | - |
| Total Liab. | 643.24 | Current Liab. | - | Debt Ratio | 89.11% |
| Total Equity | 78.58 | Working Cap. | - | Debt to Equity Ratio | 8.19 |
| Cash | 20.27 | Return on Assets | 0.50% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Thacher Proffitt & Wood |
| Bank's Law Firm | Nixon Peabody, LLP. |
| Auditor | Arthur Andersen |
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