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Financial Statement (1999)
* Letter From Our Chairman
* Statement of Condition
* Officers and Directors
Statement of Condition (December 31, 1999)
ASSETS
|
|
Cash and Due From Bank |
$21,266,622 |
|
Federal Funds Sold |
10,130,000 |
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U.S. Government Securities |
81,444,776 |
|
Other Securities |
12,337,528 |
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Loans |
419,654,806 |
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Less: Allowance for Loan Losses
|
4,298,735 |
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Net Loans |
415,356,071 |
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Premises and Equipment |
5,941,418 |
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Accrued Interest Receivable |
3,608,129 |
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Other Assets |
1,705,315 |
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| TOTAL ASSETS |
$551,749,859 |
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LIABILITIES & NET ASSETS
|
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Deposits |
$419,805,566 |
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Federal Funds Purchased |
1,000,000 |
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Securities Sold Under Repurchase Agreement |
49,558,385 |
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Other Liabilities |
37,106,206 |
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| TOTAL LIABILITIES |
507,470,157 |
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Preferred Stock |
1,000 |
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Common Stock |
1,416,000 |
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Surplus |
8,975,470 |
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Retained Earnings |
34,519,057 |
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Net Unrealized Gains / (Losses) |
|
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On Available-For-Sale Securities |
(631,825) |
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| TOTAL CAPITAL |
42,279,702 |
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| TOTAL LIABILITIES AND CAPITAL |
$551,749,859 |
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STATEMENT OF INCOME (December 31, 1999)
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| Interest Income |
$36,649,985 |
| Interest Expense |
19,641,340 |
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| Net Interest Income |
17,008,645 |
| Provision for Loan Losses |
300,000 |
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| Net Interest Income After Loss Provision |
16,708,645 |
| Non-Interest Income |
790,326 |
| Non-Interest Expense |
7,528,674 |
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| Net Income Before Income Taxes |
9,970,297 |
| Provision for Income Taxes |
3,553,550 |
|
|
| NET INCOME |
$6,416,747 |
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