-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GpyHwi0U/Ir4JzbekiJxMcqFnbZadOvnueSmORkqHnGMYux2Krl1Tg4fJhRIJ55S B76t7Gj6x+vomhrIPbBhyw== 0000904280-00-000104.txt : 20000510 0000904280-00-000104.hdr.sgml : 20000510 ACCESSION NUMBER: 0000904280-00-000104 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000331 FILED AS OF DATE: 20000509 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROCKY FORD FINANCIAL INC CENTRAL INDEX KEY: 0001031517 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 841413346 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 000-22441 FILM NUMBER: 622657 BUSINESS ADDRESS: STREET 1: 801 SWINK AVENUE CITY: ROCKY FORD STATE: CO ZIP: 81067 BUSINESS PHONE: 7192547642 MAIL ADDRESS: STREET 1: 801 SWINK AVENUE CITY: ROCKY FORD STATE: CO ZIP: 81067 10QSB 1 U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-QSB [ X ] Quarterly report under Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2000 Commission file number 0-22441 Rocky Ford Financial, Inc. ------------------------------------------------------------ (Exact Name of Small Business Issuer as Specified in Its Charter) Delaware 84-1413346 - ------------------------------- ----------------------- (State of Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification No.) 801 Swink Avenue, Rocky Ford, Colorado 81067 -------------------------------------------------- (Address of Principal Executive Offices) 719-254-7642 -------------------------------------------------- (Issuer's Telephone Number, Including Area Code) Check whether the issuer's: (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No ----- ----- State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: Shares of common stock outstanding as of March 31, 2000 358,467 ROCKY FORD FINANCIAL, INC. CONTENTS PART I - FINANCIAL INFORMATION Item 1: Financial Statements Independent Accountants' Report 3 Consolidated Statement of Financial Condition at March 31, 2000 and September 30, 1999 4 Consolidated Statements of Income for the Six Months and Three Months Ended March 31, 2000 and 1999 5 Consolidated Statements of Cash Flows for the Six Months Ended March 31, 2000 and 1999 6 Notes to Financial Statements 7 - 8 Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations 9 - 11 PART II - OTHER INFORMATION Item 1: Legal Proceedings 12 Item 2: Changes in Securities 12 Item 3: Defaults Upon Senior Securities 12 Item 4: Submission of Matters to a Vote of Security Holders 12 Item 5: Other Information 12 Item 6: Exhibits and Reports on Form 8-K 12 Signature 12 2 [LETTERHEAD OF GRIMSLEY, WHITE & COMPANY CERTIFIED PUBLIC ACCOUNTANTS] Independent Accountants' Report ------------------------------- Board of Directors Rocky Ford Financial, Inc. Rocky Ford, Colorado We have reviewed the accompanying consolidated statement of financial condition of Rocky Ford Financial, Inc. as of March 31, 2000, the consolidated statements of income for the six month and three month periods ended March 31, 2000 and 1999, the consolidated statements of cash flows for the six month periods ended March 31, 2000 and 1999. These financial statements are the responsibility of the company's management. We conducted our review in accordance with standards established by the American Institute of Certified Public Accountants. A review of interim financial information consists principally of applying analytical procedures to financial data and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with generally accepted auditing standards, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. The consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information as modified by the instructions to Form 10-QSB of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Based on our review, with the exception described in the preceding paragraph, we are not aware of any material modifications that should be made to the accompanying financial statements for them to be in conformity with generally accepted accounting principles. The consolidated statement of financial condition as of September 30, 1999, was taken from the September 30, 1999, financial statements, which were audited by us, and we expressed an unqualified opinion on them in our report dated November 24, 1999. /s/Grimsley, White & Company Grimsley, White & Company April 11, 2000 ROCKY FORD FINANCIAL, INC. CONSOLIDATED STATEMENT OF FINANCIAL CONDITION (UNAUDITED)
March 31, September 30, 2000 1999 ---------------------------- ASSETS Cash and cash equivalents Interest-bearing $ 3,000,000 $ 4,100,000 Non-interest bearing 319,241 574,771 Certificates of deposit 2,099,000 2,099,000 Securities available for sale Equity securities (cost of $11,327) 511,161 601,536 Securities held to maturity Mortgage-backed securities (estimated market value of $2,593,000 and $1,702,000) 2,552,564 1,667,376 U.S. agencies (estimated market value of $249,500 and $253,000) 249,551 249,434 Loans receivable - net 12,819,443 13,446,497 Federal Home Loan Bank stock, at cost 169,500 166,400 Retirement trust assets 340,105 305,673 Accrued interest receivable 146,245 133,799 Premises and equipment 77,338 89,732 Prepaids 16,112 43,172 ----------- ----------- TOTAL ASSETS $22,300,260 $23,477,390 =========== =========== LIABILITIES AND EQUITY Deposits $15,342,794 $16,214,512 Advances from borrowers for taxes and insurance 45,664 26,680 Accounts payable and accrued expenses 431,378 396,415 Deferred income taxes 134,000 180,100 ----------- ----------- TOTAL LIABILITIES 15,953,836 16,817,707 ----------- ----------- Commitments and contingencies Preferred stock - $.01 par value; authorized 1,000,000 shares; no shares issued or outstanding -- -- Common stock - $.01 par value; authorized 3,000,000 shares; 423,200 shares issued and 358,457 shares outstanding as of March 31, 2000 4,232 4,232 Paid-in capital 3,848,959 3,849,305 Retained earnings - substantially restricted 2,909,763 2,860,454 Net unrealized gain on securities available for sale, net of tax of $185,100 and $218,400 314,868 371,805 Treasury stock, at cost (494,406) (189,121) Note receivable from ESOP Trust (236,992) (236,992) ----------- ----------- TOTAL EQUITY 6,346,424 6,659,683 ----------- ----------- TOTAL LIABILITIES AND EQUITY $22,300,260 $23,477,390 =========== ===========
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 4 ROCKY FORD FINANCIAL, INC. CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
Three Months Ended Six Months Ended March 31, March 31, 2000 1999 2000 1999 -------- ------- -------- -------- INTEREST INCOME Loans receivable $271,477 $290,963 $549,378 $598,500 Securities available for sale 4,685 5,852 9,566 9,050 Securities held to maturity 38,977 35,906 75,786 89,176 Other interest-bearing assets 86,220 72,756 177,373 157,789 -------- -------- -------- -------- TOTAL INTEREST INCOME 401,359 405,477 812,103 854,515 INTEREST ON DEPOSITS 181,217 190,091 372,712 384,812 -------- -------- -------- -------- NET INTEREST INCOME 220,142 215,386 439,391 469,703 (PROVISION FOR) RECOVERY OF LOAN LOSSES -- -- -- -- -------- -------- -------- -------- NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 220,142 215,386 439,391 469,703 -------- -------- -------- -------- NON-INTEREST INCOME Other charges 2,580 1,648 5,183 5,748 -------- -------- -------- -------- NON-INTEREST EXPENSE GENERAL AND ADMINISTRATIVE Compensation and benefits 73,145 84,796 146,418 157,301 Occupancy and equipment 7,379 7,893 15,054 14,676 Computer services 13,636 14,347 26,205 28,631 SAIF deposit insurance 2,982 4,206 7,255 8,306 Other 49,138 59,052 100,754 117,278 -------- -------- -------- -------- TOTAL NON-INTEREST EXPENSE 146,280 170,294 295,686 326,192 -------- -------- -------- -------- INCOME BEFORE TAXES 76,442 46,740 148,888 149,259 INCOME TAX EXPENSE 23,565 14,868 45,966 54,287 -------- -------- -------- -------- NET INCOME $ 52,877 $ 31,872 $102,922 $ 94,972 ======== ======== ======== ======== BASIC EARNINGS PER COMMON SHARE $ 0.15 $ 0.08 $ 0.28 $ 0.24 ======== ======== ======== ======== DILUTED EARNINGS PER COMMON SHARE $ 0.15 $ 0.08 $ 0.28 $ 0.24 ======== ======== ======== ======== WEIGHTED AVERAGE COMMON SHARES OUTSTANDING BASIC 360,535 385,971 370,380 390,921 DILUTED 360,535 385,971 370,380 390,921 DIVIDENDS PER SHARE $ 0.15 $ 0.15 $ 0.15 $ 0.15
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 5 ROCKY FORD FINANCIAL, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
Six Months Ended March 31, 2000 1999 ---------- --------- CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 102,922 $ 94,972 ----------- ----------- Adjustments to reconcile net income to net cash provided by operating activities: Amortization of: Deferred loan origination fees (3,798) (9,718) Discounts on investments (117) (117) Stock dividend received from FHLB (3,100) (5,800) ESOP market value expense (346) 2,159 Depreciation 14,289 9,014 Change in assets and liabilities Accrued interest receivable (12,446) (11,269) Prepaids 27,060 (7,732) Accounts payable and accrued expenses 34,963 (79,472) Deferred income taxes (12,662) (16,942) ----------- ----------- TOTAL ADJUSTMENTS 43,843 (119,877) ----------- ----------- NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 146,765 (24,905) ----------- ----------- CASH FLOWS FROM INVESTING ACTIVITIES Net change in certificates of deposit -- (400,000) Loan originations and principal payments on loans 630,852 639,837 Purchase of treasury stock (305,285) (152,821) Purchase of mortgage-backed securities (1,004,375) -- Principal payments on mortgage-backed securities 119,187 369,005 Capital purchases (1,894) (34,918) FHLB stock redeemed -- 54,900 Payment to retirement trust (34,432) -- ----------- ----------- NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (595,947) 476,003 ----------- ----------- CASH FLOWS FROM FINANCING ACTIVITIES Dividends paid (53,614) (57,287) Net change in deposits (871,718) 539,577 Net change in mortgage escrow funds 18,984 10,839 ----------- ----------- NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES (906,348) 493,129 ----------- ----------- NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,355,530) 944,227 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 4,674,771 3,967,576 ----------- ----------- CASH AND CASH EQUIVALENTS AT END OF YEAR $ 3,319,241 $ 4,911,803 =========== =========== SUPPLEMENTAL DISCLOSURES OF CASH FLOWS Cash paid for: Taxes $ 55,365 $ 174,731 Interest 375,910 390,097
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 6 ROCKY FORD FINANCIAL, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2000 Note 1. Nature of Business Rocky Ford Financial, Inc. (the "Company") was incorporated under the laws of the State of Delaware for the purpose of becoming the holding company of Rocky Ford Federal Savings and Loan Association (the "Association") in connection with the Association's conversion from a federally chartered mutual savings and loan association to a Federally chartered stock savings and loan association, pursuant to it's Plan of Conversion. The Company was organized in January 1997 to acquire all of the common stock of Rocky Ford Federal Savings and Loan Association upon its conversion to stock form. The subscription and community offering of the Company's shares was completed on May 21, 1997. Note 2. Basis of Presentation The accompanying unaudited consolidated financial statements,(except for the statement of financial condition at September 30, 1999, which is audited) have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-QSB of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management all adjustments necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. The financial statements of the Company are presented on a consolidated basis with those of Rocky Ford Federal Saving and Loan Association. The results of operations for the six months ended March 31, 2000 are not necessarily indicative of the results of operations that may be expected for the year ended September 30, 2000. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accounting policies followed are as set forth in Note 1. of the Notes to Financial Statements in the 1999 Rocky Ford Financial, Inc. financial statements Note 3. Regulatory Capital Requirements At March 31, 2000, the Association met each of the three current minimum regulatory capital requirements. The following table summarizes the Association's regulatory capital position at March 31, 2000: Tangible Capital: Actual $4,889,000 23.45% Required 313,000 1.50 Excess $4,576,000 21.95% Core Capital: Actual $4,889,000 23.45% Required 625,000 3.00 Excess $4,264,000 20.45% Risk-Based Capital: Actual $5,174,000 62.28 Required 665,000 8.00 Excess $4,509,000 54.28% 7 ROCKY FORD FINANCIAL, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2000 Note 3. Regulatory Capital Requirements (Continued) Tangible and core capital levels are shown as a percentage of total adjusted assets; risk-based capital levels are shown as a percentage of risk-weighted assets. Note 4. Earnings Per Share The Company adopted Financial Accounting Standards Board Statement No. 128 relating to earnings per share. The statement requires dual presentations of basic and diluted earnings per share on the face of the income statement. Basic EPS excludes dilution and is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shares in the earnings of the entity. Note 5. Dividends Paid On January 13, 2000 and January 11, 1999, respectively, the Board of Directors declared a cash dividend of $0.15 per share to stockholders of record payable on February 8, 2000 and February 26, 1999, respectively. 8 ROCKY FORD FINANCIAL, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS COMPARISON OF FINANCIAL CONDITION AT MARCH 31, 2000 AND SEPTEMBER 30, 1999 The Company's total assets decreased by $1,2 million or 5.01% from $23.5 million at September 30, 1999 to $22.3 million at March 31, 2000. The decrease is attributed to the decrease in deposit accounts of $872,000 and the purchase of treasury stock for $305,000. The Company's net loan portfolio decreased by approximately $627,000 during the six months ended March 31, 2000. Net loans totaled $12.8 million at March 31, 2000 and $13.4 million September 30, 1999. The Association made new loans in the amount of $684,000 and received payoffs or payments of $1.3 million during the six months ended March 31, 2000. The large amount of payoffs is attributed to intense activity of two local financial institutions who offer lower rates, and then sell the mortgages. As of March 31, 2000, the Association had outstanding loan commitments of $215,000. The allowance for loan losses totaled $60,000 at March 31, 2000 and September 30, 1999. As of those dates the Company's non-performing loans in its portfolio were $4,100 and $33,000. There were no loans charged off or recoveries of previous loan losses during the six months ended March 31, 2000. The determination of the allowance for loan losses is based on management's analysis, performed on a quarterly basis, of various factors, including the market value of the underlying collateral, growth and composition of the loan portfolio, the relationship of the allowance for loan losses to outstanding loans, historical loss experience, delinquency trends and prevailing economic conditions. Although management believes its allowance for loan losses is adequate, there can be no assurance that additional allowances will not be required or that losses on loans will not be incurred. The Company has had minimal losses on loans in prior years. At March 31, 2000, the ratio of the allowance for loan losses to net loans was .47% as compared to .45% at September 30, 1999. At March 31, 2000, the Company's investment portfolio included mortgage-backed and related securities classified as "held to maturity" carried at amortized cost of $2.8 million and an estimated fair value of $2.8 million, and equity securities classified as "available for sale" with an estimated fair value of $511,000. The balance of the Company's investment portfolio at March 31, 2000 consists of interest bearing deposits with various financial institutions totaling $5.1 million. At March 31, 2000 deposits decreased to $15.3 million from $16.2 million at September 30, 1999 or a net decrease of $872,000 or 5.38%. The decrease was in certificate of deposit accounts and represents area deposits. Short term certificate of deposit rates have become more competitive in the Association's market area. Management is continually evaluating the investment alternatives available to the Company's customers, and adjusts the pricing on its savings products to maintain its existing deposits. During the six month period ending March 31, the Company purchased 27,949 shares of it's common stock in the open market, at a cost of $305,300, and is holding the shares as treasury stock. COMPARISON OF OPERATING RESULTS FOR THE SIX MONTHS ENDED MARCH 31, 2000 AND 1999 Net Income. The Company's net income for the six months ended March 31, 2000 was $103,000 compared to $95,000 for the six months ended March 31, 1999. The increase in net income for the six months ended March 31, 2000 resulted primarily from the reduction of general and administrative expenses and the reduction in the effective rate of income taxes. The administrative staff has been reduced by one person and the requirement for professional services has declined. Net Interest Income. Net interest income for the six months ended March 31, 2000 was $439,000 compared to $470,000 for the six months ended March 31, 1999. The decrease in net interest income for the six months ended March 31, 2000 was due to a decrease in interest earning assets of $462,000 and a reduction in deposits of $89,000. 9 ROCKY FORD FINANCIAL, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS Interest Income. Interest income decreased by $42,000 from $855,000 to $812,000 or by 4.96%, during the 2000 six month period compared to the 1999 six month period. This decrease resulted in part from an overall decrease of average interest-earning assets by $462,000 from $22.5 million to $22.1 million or by 2.05% from the 1999 six month period to the 2000 six month period. The Company experienced a decrease in the average rate received on the interest-earning assets from 7.59% in the 1999 six month period to 7.36% in the 2000 six month period. Interest Expense. Interest expense decreased $12,000 to $373,000 for the six months ended March 31, 2000 from $385,000 for the six months ended March 31, 1999. The change was caused by the decrease in average deposits of $89,000 from $15.8 million in 1999 to $15.7 million in 2000. The effective interest rate for the six months ended March 31, 2000 was 4.74% compared to 4.87% for the six months ended March 31, 1999. Provision for Loan Losses. The allowance for loan losses is established through a provision for loan losses based on management's evaluation of the risk inherent in its loan portfolio and the general economy. Such evaluation considers numerous factors including, general economic conditions, loan portfolio composition, prior loss experience, the estimated fair value of the underlying collateral and other factors that warrant recognition in providing for an adequate loan loss allowance. The Company determined that a provision for loan loss was not required for the six months ended March 31, 2000 and 1999 due to the limited occurrence of delinquent loans. Non-Interest Expense. The decrease in non-interest expense section is attributable to reduced administrative staff and less professional expenses incurred in the 2000 six month period. COMPARISON OF OPERATING RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999 Net Income. The Company's net income for the three months ended March 31, 2000 was $53,000 compared to $32,000, for the three months ended March 31, 1999. The increase is attributable to the reduction in general and administrative expenses. Net Interest Income. Net interest income for the three months ended March 31, 2000 was $220,000 compared to $215,000 for the three months ended March 31, 1999. The increase is attributed to the reduction in interest expense caused by a decrease in average deposits. Interest Income. The interest income for the three months ended March 31, 2000 was $401,000 compared to $405,000 for the three months ended March 31, 1999. The decrease is attributable to the decrease in interest earning assets from $15.9 million for the three months ended March 31,1999 to $15.4 million for the three months ended March 31, 2000. The yield on interest earning assets was 7.23% for the three months ended March 31,1999 compared to 7.38% for the three months ended March 31, 2000. Interest Expense. The interest expense for the three months ended March 31, 2000 was $181,000 compared to $190,000 for the three months ended March 31, 1999. The decrease was caused by a decrease in average deposits from $15.9 million as of March 31, 1999 to $15.4 million as of March 31, 2000, and a decrease in the average rates paid from 4.79% as of March 31, 1999 to 4.70% for the three months ended March 31, 2000. Non-Interest Expense. The decrease in non-interest expenses from $170,000 for the three months ended March 31, 1999 to $146,000 for the three months ended March 31, 1999 was due to the reduction of the administrative staff and professional services. 10 ROCKY FORD FINANCIAL, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS LIQUIDITY AND CAPITAL RESOURCES The Company's primary sources of funds consists of deposits, repayment of loans and mortgage-backed securities, maturities of investments and interest-bearing deposits, and funds provided from operations. While scheduled repayments of loans and mortgage-backed securities and maturities of investment securities are predicable sources of funds, deposit flows and loan prepayments are greatly influenced by the general level of interest rates, economic conditions and competition. The Company uses its liquidity resources principally to fund existing and future loan commitments, to fund maturing certificates of and to meet operating expenses. Management believes that proceeds from the stock sale, loan repayments and other sources of funds will be adequate to meet the Company's liquidity needs for the immediate future. The Association is required to maintain minimum levels of liquid assets as defined by OTS regulations. This requirement, which may be varied at the direction of the OTS depending upon economic conditions and deposit flows, is based upon a percentage of deposits and short-term borrowings. The required minimum ratio was 5% until November 24, 1997 when it was changed to 4%. The Company has historically maintained a level of liquid assets in excess of regulatory requirements. The Company's liquidity ratios at March 31, 2000 and 1999 were 34% and 26%, respectively. IMPACT OF INFLATION AND CHANGING PRICES The financial statements and related data presented herein have been prepared in accordance with generally accepted accounting principles, which require the measurement of financial position and results of operations in terms of historical dollars without considering changes in the relative purchasing power of money over time because of inflation. Unlike most industrial companies, virtually all of the assets and liabilities of the Company are monetary in nature. As a result, interest rates have a more significant impact on the Company's performance than the effects of general levels of inflation. Interest rates do not necessarily move in same direction or in the same magnitude as the prices of goods and services. YEAR 2000 ISSUE The Company has an ongoing program of evaluating the effect of the Year 2000 on its information processing systems and business operations. The Company's core data processing is performed by an outside vendor. As of March 31, 2000, the system was functioning with no noted errors. It is not possible to be certain that all aspects of the Year 2000 issue affecting the Company, including those related to the efforts of customers, other financial institutions, of other third parties either have been, or will all be fully resolved. Although the Company and its subsidiary had not experienced any problems as of April 30, 2000, systems failures and errors could still happen with other date changes throughout the year. 11 ROCKY FORD FINANCIAL, INC. PART II - OTHER INFORMATION ITEM 1: Legal Proceedings None. ITEM 2: Changes in Securities None. ITEM 3: Defaults Upon Senior Securities Not Applicable ITEM 4: Submission of Matters to a Vote of Security Holders. Not Applicable ITEM 5: Other Information None ITEM 6: Exhibits and Reports on Form 8-K Exhibit 27 - Financial Data Schedule Reports on Form 8-K - None SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Rocky Ford Financial, Inc. Registrant Date April 30, 2000 /s/ Keith E. Waggoner ____________________________ Keith E. Waggoner, President 12 EX-27 2 - ARTICLE 9 FIN. DATA SCHEDULE FOR 2ND QTR 10-QSB FOR FISCAL YEAR 2000
9 6-MOS SEP-30-2000 OCT-01-1999 MAR-31-2000 319,241 5,099,000 0 0 511,161 2,802,115 2,842,500 12,819,443 60,000 22,300,260 15,342,794 0 611,042 0 4,232 0 0 6,342,192 22,300,260 549,378 85,352 177,373 812,103 372,712 372,712 439,391 0 0 295,686 148,888 148,888 0 0 102,922 0.28 0.28 7.36 4,800 0 0 0 60,000 0 0 60,000 60,000 0 0
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