SOUHY South32 Ltd (PK)

New Hampshire Thrift Bancshares, Inc. (Nasdaq: NHTB), the holding company for Lake Sunapee Bank, fsb, today reported consolidated net income for the three months ended March 31, 2008 of $1,384,453, or $0.24 per share (fully diluted), compared to $1,024,609, or $0.24 per share (fully diluted), for the three months ended March 31, 2007. New Hampshire Thrift Bancshares� returns on average assets and equity for the three months ended March 31, 2008 were 0.64% and 10.14%, respectively, compared to 0.60% and 8.68%, respectively, for the three months ended March 31, 2007. The $359,844 increase in net income for the quarter ended March 31, 2008 reflects an increase of $1,792,680 in net interest and dividend income, due to improving interest income margins and the completion of the two bank acquisitions with First Brandon National Bank and First Community Bank during the second and fourth quarters of 2007. The increase in net interest income for the quarter ended March 31, 2008 was partially offset by an increase in noninterest expense of $1,690,880. For the quarter ended March 31, 2008, total loan production was $54,051,021 compared to $37,117,272 for the quarter ended March 31, 2007, due primarily to an increase in loan refinancings created from the reduced interest rate environment. Lake Sunapee Bank�s net interest margin increased to 3.30% at March 31, 2008, compared to 2.88% at March 31, 2007. Total assets amounted to $828,926,610 at March 31, 2008, compared to $654,590,243 at March 31, 2007, an increase of $174,336,367 due primarily to the First Brandon and First Community acquisitions. Loans held in portfolio increased by $131,486,188, including approximately $127,000,000 from the two acquisitions, to $624,583,256 at March 31, 2008 from $493,097,068 at March 31, 2007. Total deposits increased by $174,218,055, including approximately $152,000,000 from the two acquisitions, to $644,117,118 at March 31, 2008 from $469,899,063 at March 31, 2007. Advances from the Federal Home Loan Bank (FHLB) decreased by $37,341,625 from $100,000,000 at March 31, 2007, to $62,658,375 at March 31, 2008, as Lake Sunapee Bank utilized the proceeds from deposit inflows to fund maturing FHLB advances as part of a de-leveraging strategy employed to reduce funding costs. Asset quality remained strong with non-performing assets as a percentage of total assets at 0.61% as Lake Sunapee Bank continued to originate loans in a conservative manner. Shareholders� equity of $74,084,985 resulted in a book value of $12.89 per share at March 31, 2008, based on 5,747,772 shares of common stock outstanding, an increase of $1.30 per share, or 11.22%, from a year ago. As previously announced, a regular quarterly dividend in the amount of $.13 per share is payable on April 30, 2008 to shareholders of record as of April 23, 2008. NHTB is the parent company of Lake Sunapee Bank, fsb, a federally-chartered stock savings bank providing a wide range of banking and financial services through twenty-nine offices strategically located within the greater Dartmouth-Lake Sunapee-Kearsarge and Monadnock regions of west-central New Hampshire, and central Vermont. New Hampshire Thrift Bancshares, Inc. Selected Financial Highlights (unaudited) � Three Months Ended 3/31/08 � 3/31/07 � Interest and Dividend Income $ 11,067,796 $ 8,810,634 Interest Expense 4,944,003 4,479,521 Net Interest and Dividend Income 6,123,793 4,331,113 Provision for Loan Losses 37,000 7,000 Noninterest Income 2,062,956 1,536,209 Noninterest Expenses 6,021,253 4,330,373 Net Income 1,384,453 1,024,609 Earnings Per Common Share, basic $ 0.24 $ 0.25 Earnings Per Common Share, assuming dilution (1) $ 0.24 $ 0.24 Dividends Declared per common share $ 0.130 $ 0.130 � As of 3/31/08 � � As of 3/31/07 Total Assets $ 828,926,610 $ 654,590,243 Loans receivable, net 624,583,256 493,097,068 Securities 96,244,582 91,270,958 Total Deposits 644,117,118 469,899,063 Federal Home Loan Bank Advances 62,658,375 100,000,000 Subordinated Debentures 20,620,000 20,620,000 Shareholders� Equity 74,084,985 47,068,652 Book Value of Shares Outstanding $12.89 $11.59 Tier I Core Capital to Assets 7.99% 8.19% Shares Outstanding 5,747,772 4,060,878 Return on Average Assets 0.64% 0.60% Return on Average Equity 10.14% 8.68% Non-performing Assets as a % of Total Assets 0.61% 0.09% (1) Diluted earnings per share are calculated using the weighted-average number of shares outstanding for the period, including common stock equivalents, as appropriate. Statements included in this press release that are not historical or current fact are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. New Hampshire Thrift Bancshares disclaims any obligation to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements, or to reflect the occurrence of anticipated or unanticipated events or circumstances.