| |
|
Comparative Financial Report
|
ASSETS: |
Consolidated
12/31/2009 |
|
Consolidated
12/31/2008 |
|
Home Equity Loans |
$14,22,440 |
|
13,114,503 |
|
First & Second
Mortgages |
21,380,732 |
|
19,156,579 |
|
Visa |
12,386,213 |
|
11,660,516 |
|
Motor Vehicle
Loans |
23,016,923 |
|
23,529,136 |
|
Shared Secured
& Personal Loans |
316,841 |
|
350,418 |
|
Other Unsecured
Loans |
1,486,324 |
|
994,964 |
|
Less Allowance for
Loan Loss |
(306,069) |
|
(212,150) |
|
Total Loans |
72,503,404 |
|
68,593,966 |
| |
|
|
|
|
|
Cash |
16,219,530 |
|
10,419,503 |
|
Investments |
36,477,339 |
|
31,889,110 |
|
Share Insurance
Deposits |
1,203,578 |
|
1,046,432 |
|
Accrued Interest
Receivable |
339,209 |
|
420,128 |
|
Other Assets |
760,276 |
|
927,545 |
|
Land & Buildings
(Net) |
1,798,364 |
|
1,880,313 |
|
Furniture &
Fixtures (Net) |
138,113 |
|
215,038 |
|
Total Other Assets: |
56,936,409 |
|
$46,798,069 |
| |
TOTAL ASSETS: |
$129,439,813 |
|
$115,392,035 |
|
|
|
LIABILITIES: |
12/31/2009
|
|
12/31/2008 |
| |
#
of accounts |
|
|
|
|
|
Shares |
12,834 |
|
$14,032,288 |
|
13,134,797 |
|
IRA |
825 |
|
15,088,990 |
|
13,442,733 |
|
Certificates |
2,840 |
|
40,798,446 |
|
34,739,381 |
|
MMIAs |
2,479 |
|
35,203,514 |
|
31,360,780 |
|
Share Drafts |
4,984 |
|
11,844,705 |
|
11,012,143 |
|
Other Share Accounts |
1,738 |
|
1,093,584 |
|
1,041,530 |
|
Other Liabilities. |
|
|
(2,747,632) |
|
|
|
Net Worth |
|
|
14,125,918 |
|
|
| |
TOTAL LIABILITIES
& Net Worth |
|
|
$129,439,813 |
|
$115,392,035 |
|
|
|
INCOME: |
12/31/2009 |
|
12/31/2008 |
|
Income on Loans |
$3,171,358 |
|
3,340,431 |
|
Income on Investments |
1,231,213 |
|
1,652,983 |
|
Visa Interest Income |
942,668 |
|
919,554 |
|
Fee & Other
Operating Income |
1,040,734 |
|
876,647 |
|
TOTAL INCOME |
$6,385,973 |
|
$6,789,615 |
| |
|
|
|
|
|
EXPENSES: |
12/31/2009 |
|
12/31/2008 |
|
Administration & Operation |
$2,003,598 |
|
1,844,362 |
|
Occupancy |
552,133 |
|
530,648 |
|
Loan Servicing |
701,327 |
|
513,038 |
|
Professional &
outside Services |
446,920 |
|
419,242 |
|
Provision for Loan
Losses |
568,028 |
|
233,662 |
|
TOTAL EXPENSES BEFORE DIVIDENDS |
$4,272,006 |
|
$3,540,952 |
| |
|
|
|
|
|
DISTRIBUTION OF
2009 INCOME |
|
|
Dividends |
$2,044,318 |
|
Operating Expenses |
4,272,006 |
|
Undivided Earnings |
69,649 |
|
TOTAL: |
$6,385,973 |
|
|
