Statement of Condition
| |
Sep.
30, 2008 |
Sep.
30, 2007 |
| Cash & Due From
Banks |
10,063,059 |
8,635,061 |
| Federal Agency Issues |
78,532,652 |
62,773,586 |
| Obligations of States
and Political Subdivisions |
36,881,024 |
23,024,167 |
| Other
Securities |
0 |
0 |
| Federal
Reserve Bank Stock/FHLB Stock |
1,067,949 |
353,300 |
| Federal Funds Sold |
9,987,025 |
20,434,287 |
| Loans |
335,106,591 |
254,223,460 |
| Reserve for Bad Debts
|
(3,607,258) |
(2,930,816) |
| |
|
|
| Fixed Assets |
10,656,745 |
8,501,031 |
| Accrued Interest Income |
4,440,924 |
3,618,645 |
| Other Assets |
26,699,117 |
9,839,195 |
|
TOTAL
RESOURCES
|
$509,827,829 |
$388,471,916 |
| |
|
|
| Capital Stock |
675,000 |
675,000 |
| Paid in Capital |
10,072,948 |
10,297,948 |
| Retained Earnings |
35,706,001 |
30,862,431 |
| (Less:
Treasury Stock) |
(812,243) |
(812,243) |
| Net Unrealized Gains
(Losses) on Available For Sale Securities |
74,311 |
571,759 |
|
TOTAL
CAPITAL
|
$45,716,018 |
$40,226,376 |
| |
|
|
| Dividends
Payable |
526,409 |
427,707 |
| Accrued Expenses
Payable |
1,583,301 |
1,465,265 |
| Other Liabilities |
2,326,541 |
872,999 |
| Trust
Preferred |
10,310,000 |
10,318,000 |
| Demand
Deposits - Non-Interest Bearing |
96,045,186 |
78,892,687 |
| Interest Bearing
Deposits |
353,320,374 |
256,268,881 |
|
TOTAL
LIABILITIES
|
$509,827,829 |
$388,471,916 |
| |
|
|
| Net
Income YTD |
5,
028,386 |
4,287,196 |
|
 |
