|
 
| Statement
of Condition |
|
| (All
financial information is unaudited.)
|
09/30/2008 |
09/30/2009 |
| Cash
and Due From Banks |
$7,010,729 |
$54,861,215 |
| Interest
Bearing Deposits |
$3,077,773 |
$1,081,781 |
| Investment
Securities |
$57,192,154 |
$25,578,620 |
| |
|
|
| Loans
Receivable |
$310,738,295 |
$264,423,148 |
| Less
Allowance for Possible Loan Losses |
$(4,155,815) |
$(6,958,629) |
| Net
Loans |
$306,582,480 |
$257,464,519 |
| |
|
|
| Bank
Premises and Equipment |
$12,410,479 |
$11,505,486 |
| Other
Real Estate |
$5,102,179 |
$7,622,348 |
| Other
Assets |
$17,419,793 |
$16,096,144 |
| Total
Assets |
$408,795,586 |
$374,210,113 |
| Non-interest-bearing Deposits |
$63,755,520 |
$70,374,736 |
| Interest-bearing Deposits |
$257,350,216 |
$238,017,134 |
| Total
Deposits |
$321,105,736 |
$308,391,870 |
| |
|
|
| Other
Liabilities |
$60,999,420 |
$57,783,850 |
| Total
Liabilities |
$382,105,156 |
$366,175,720 |
| Common
Stock |
$3,951,510 |
$3,660,073 |
| Retained
Earnings |
$22,738,919 |
$4,374,319 |
| Total
Shareholders' Equity |
$26,690,430 |
$8,034,393 |
| Total
Liabilities and |
|
|
| Shareholders'
Equity |
$408,795,586 |
$374,210,113 |
Statement
of Earnings
|
For
the nine months ending |
| (All
financial Information Is unaudited.)
|
09/30/2008 |
09/30/2009 |
| Loans,
Including Fees |
$16,819,857 |
$12,282,680 |
| Interest
Bearing Deposits |
$6,029 |
$46,978 |
| Investment
Securities |
$1,965,021 |
$1,808,045 |
| Total
Interest Income |
$18,790,906 |
$14,137,703 |
| Deposits |
$5,334,585 |
$3,600,520 |
| Other
Interest Expense |
$2,146,921 |
$1,607,307
|
| Total
Interest Expense |
$7,481,506 |
$5,207,827 |
| Net
Interest Income |
$11,309,400 |
$8,929,876 |
| Less
Provisions for Possible Loan Losses |
$(1,839,198)
|
$(18,979,699) |
| Net
Interest Income After Provision |
$9,470,202 |
$(10,049,823) |
| Service
Charges on Accounts |
$666,798 |
$665,640 |
| Other
Fees and Income |
$2,356,560 |
$1,806,003 |
| Total
Non-interest Income |
$3,023,358 |
$2,471,643 |
| Salaries
and Benefits |
$6,094,628 |
$5,414,671 |
| Occupancy |
$1,901,428 |
$1,838,004 |
| Other |
$3,344,313 |
$4,559,450 |
| Total
Non-interest Expense |
$11,340,369 |
$11,812,124 |
| Income
Before Federal Income Taxes |
$1,153,191 |
$(19,390,304) |
| Less
Federal Income Taxes |
$(234,992) |
$100,315 |
| Net
Income |
$918,199 |
$(19,289,988) |
| Earnings
Per Share |
$0.58 |
$(12.24) |
Total shares outstanding 09/30/2008
were 1,591,159.
Total shares outstanding 09/30/2009 were 1,576,152.
|
|
