|
 
| Statement
of Condition |
|
| (All
financial information is unaudited.)
|
3/31/2007 |
3/31/2008 |
| Cash
and Due From Banks |
$7,597,797 |
$6,284,150 |
| Interest
Bearing Deposits |
$3,446,302 |
$6,519 |
| Investment
Securities |
$54,132,227 |
$61,944,069 |
| |
|
|
| Loans
Receivable |
$290,448,091 |
$324,589,274 |
| Less
Allowance for Possible Loan Losses |
$(3,519,146) |
$(4,479,881) |
| Net
Loans |
$286,928,945 |
$320,109,393 |
| |
|
|
| Bank
Premises and Equipment |
$12,920,914 |
$12,882,974 |
| Other
Real Estate |
$114,500 |
$694,158 |
| Other
Assets |
$16,543,087 |
$17,234,081 |
| Total
Assets |
$381,683,773 |
$419,155,343 |
| Non-interest
Bearing Deposits |
$64,530,409 |
$66,507,298 |
| Interest
Bearing Deposits |
$241,494,465 |
$247,396,958 |
| Total
Deposits |
$306,024,873 |
$313,904,256 |
| |
|
|
| Other
Liabilities |
$49,036,403 |
$77,495,581 |
| Total
Liabilities |
$355,061,276 |
$391,399,837 |
| Common
Stock |
$5,118,460 |
$4,236,265 |
| Retained
Earnings |
$21,504,037 |
$23,519,242 |
| Total
Shareholders' Equity |
$26,622,497 |
$27,755,507 |
| Total
Liabilities and |
|
|
| Shareholders'
Equity |
$381,683,773 |
$419,155,343 |
Statement
of Earnings
|
For
the three months ending |
| (All
financial Information Is unaudited.)
|
3/31/2007 |
3/31/2008 |
| Loans,
Including Fees |
$5,836,966 |
$5,935,020 |
| Interest
Bearing Deposits |
$18,059 |
$1,233 |
| Investment
Securities |
$581,142 |
$691,378 |
| Total
Interest Income |
$6,436,166 |
$6,627,632 |
| Deposits |
$1,939,134 |
$1,984,191 |
| Other
Interest Expense |
$600,746 |
$778,236 |
| Total
Interest Expense |
$2,539,881 |
$2,762,427 |
| Net
Interest Income |
$3,896,285 |
$3,865,206 |
| Less
Provisions for Possible Loan Losses |
$(160,000)
|
$(400,000) |
| Net
Interest Income After Provision |
$3,736,285 |
$3,465,206 |
| Service
Charges on Accounts |
$217,126 |
$215,377 |
| Other
Fees and Income |
$657,330 |
$678,689 |
| Total
Non-interest Income |
$874,455 |
$894,067 |
| Salaries
and Benefits |
$2,089,027 |
$2,158,982 |
| Occupancy |
$765,904 |
$642,615 |
| Other |
$1,143,136 |
$1,150,387 |
| Total
Non-interest Expense |
$3,998,067 |
$3,951,984 |
| Income
Before Federal Income Taxes |
$612,673 |
$407,289 |
| Less
Federal Income Taxes |
$(178,732) |
$(85,974) |
| Net
Income |
$433,941 |
$321,315 |
| Earnings
Per Share (adjusted for 3-1 split) |
$0.27 |
$0.20 |
Total shares outstanding 3/31/07
were 544,105 (or 1,632,315 adjusted for 3-1 stock split).
Total shares outstanding 3/31/08 were 1,602,814.
|
|
