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Financial Statement (2000)
* Letter From Our Chairman
* Statement of Condition
* Officers and Directors
Statement of Condition (December 31, 2000)
ASSETS
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Cash and Due From Banks |
$17,169,313 |
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Federal Funds Sold |
15,085,000 |
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Federal Home Loan Bank Account |
45,882,000 |
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U.S. Government Securities |
83,434,187 |
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Other Securities |
9,102,190 |
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Loans |
449,653,985 |
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Less: Allowance for Loan Losses
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4,902,086 |
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Net Loans |
444,751,899 |
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Premises and Equipment |
5,612,006 |
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Accrued Interest Receivable |
4,186,503 |
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Other Assets |
1,490,541 |
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| TOTAL ASSETS |
$626,713,639 |
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LIABILITIES & CAPITAL
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Deposits |
$479,041,867 |
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Federal Funds Purchased |
600,000 |
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Securities Sold Under Repurchase Agreement |
60,607,838 |
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Other Liabilities |
37,743,301 |
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| TOTAL LIABILITIES |
577,993,006 |
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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 |
38,115,798 |
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Net Unrealized Gains / (Losses) |
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On Available-For-Sale Securities |
212,365 |
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| TOTAL CAPITAL |
48,720,633 |
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| TOTAL LIABILITIES AND CAPITAL |
$626,713,639 |
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STATEMENT OF INCOME (December 31, 2000)
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| Interest Income |
$43,531,497 |
| Interest Expense |
25,319,442 |
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| Net Interest Income |
18,212,055 |
| Provision for Loan Losses |
2,105,000 |
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| Net Interest Income After Loss Provision |
16,107,055 |
| Non-Interest Income |
907,813 |
| Non-Interest Expense |
7,860,624 |
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| Net Income Before Income Taxes |
9,154,244 |
| Provision for Income Taxes |
3,121,983 |
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| NET INCOME |
$6,032,261 |
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