St. Joseph Capital Corporation's Quarterly Profits up by 70.4%

MISHAWAKA, In.--Oct. 15-- St. Joseph Capital Corporation (OTC Bulletin Board: SJOE), today announced its financial results for the third quarter 2001.

Total assets grew to $211.7 million at September 30, 2001 compared to $163.5 million at September 30, 2000 representing an increase of 29.5%. Since the end of the second quarter 2001, total assets have increased $8.2 million or 4.0%.

Pre-tax profits increased to $484,828 compared to $284,450 in the same quarter a year ago -- an increase of 70.4%. Net income after tax increased 18.1% to $320,928 in the third quarter of 2001 up from $271,814 during the third quarter of 2000.

Net loans were $137.8 million at September 30, 2001 up from $119.8 million at September 30, 2000. This is an $18.0 million or 15.0% increase on a year- over-year basis.

Total deposits increased to $151.1 million at September 30, 2001 from $144.2 million at June 31, 2001 representing a $6.9 million or 4.8% increase over second quarter deposit totals. The increase in deposits on a year-over year basis was 23.4%.

In announcing third quarter results, John W. Rosenthal, Chairman of the Board and Chief Executive Officer said, "This quarter will be remembered not because of our continued outstanding financial performance; but rather, because of the events that have unfolded on the world stage." Commenting further, Rosenthal said, "Even with these new circumstances thrust upon us, we remain a conservatively managed, financially rock-solid institution ready to serve clients."

St. Joseph Capital Corporation is a bank holding company whose headquarters are located in Mishawaka, Indiana. Its sole subsidiary, St. Joseph Capital Bank, provides a broad array of banking services to businesses and individuals in the Michiana area. Its stock is an Over-the-Counter "bulletin board" stock and trades under the symbol "SJOE."

St. Joseph Capital Bank is a Member of the Federal Deposit Insurance Corporation.

Source: St. Joseph Capital Corporation