2010 Statement of Condition |
|
Assets |
Cash & Due from Banks |
$ 28,630,342
|
Bonds |
13,131,670
|
Stocks |
1,525,950
|
Mortgage Loans |
229,685,793 |
Other Loans |
31,626,130 |
Allowance for Loan Losses |
(3,400,000) |
Bank Premises and Fixed Assets |
5,006,231 |
Other Assets |
13,821,164 |
TOTAL ASSETS |
$320,027,280 |
Liabilities |
Deposits |
$ 234,028,360 |
Other Liabilities |
10,082,140 |
TOTAL LIABILITIES |
$244,110,500 |
Equity Capital |
Surplus and Reserves |
|
TOTAL LIABILITIES AND EQUITY CAPITAL |
|
Please Note: Letters of Credit outstanding not included in above figures:$376,260 |
Statement of Earnings
Twelve Months: ended December 31, 2010 |
Interest and fee income on loans |
$16,591,449 |
Interest and dividend income on investments |
543,483 |
Non-interest income |
2,493,802 |
Total interest and other income |
$19,628,734 |
|
|
Less interest paid on deposits |
2,373,961 |
Less other expenses |
12,397,976 |
Earnings after interest and other expenses |
$4,857,797 |
| |
|
Income taxes |
1,609,836 |
Net income for period |
$3,247,961 |
|
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