NMLS#514553

Statement of Condition


December 31, 2020

Assets

Cash & Due from Banks - $7,562,000.00

Securities

Cash & Held to Maturity Securities - $0.00

Available for Sale Securities - $7,206,000.00

Federal Funds Sold - $32,661,000.00

Loans, Net of Unearned Income - $49,117,000.00

Less: Allowance for Loan Loss - $-471,000.00

Net Loans - $48,646,000.00

Premises and Fixed Assets - $719,000.00

Intangible Assets - $0.00

Other Assets - $5,230,000.00

Total Assets - $102,024,000.00

Liabilities

Deposits:

Non-Interest Bearing - $14,106,000.00

Interest Bearing - $69,108,000.00

Securities Sold Under Agreement to Repurchase - $0.00

Other Liabilities - $1,526,000.00

Total Liabilities - $84,740,000.00

Equity Capital:

Common Stock - $1,000,000.00

Surplus - $1,000,000.00

Undivided Profits - $15,115,000.00

Net unrealized gains (losses) on securities - $169,000.00

Total Equity Capital - $17,284,000.00

Total Liabilities & Capital

$102,024,000.00

Comparative Statement of Earnings

December 31, 2020

Interest and Fee income on Loans

Real Estate Loans- $1,788,000.00

Commercial and Industrial Loans - $154,000.00

Credit Cards - $0.00

Consumer Loans - $109,000.00

Other Loans - $292,000.00

Interest Income: Financial Institutions

U.S. Treasury Securities & U.S. Government Agency Obligations - $197,000.00

Municipal Securities - $41,000.00

Interest of Fed Funds sold - $75,000.00

Dividends - $13,000.00

Total Interest Income - $2,669,000.00

Interest Expense

NOW Accounts - $17,000.00

Saving Accounts including MMDA  - $28,000.000

Time Certificates of $250,000 or more - $14,000.00

All Other Time Deposits - $361,000.00

Repurchase Agreements - $0.00

Total Interest Expense - $420,000.00

Net Interest Income - 2,249,000.00

Provision for Loan Losses - $0.00

Non-Interest Income

Service Charges of Deposit Accounts - $100,000.00

All Other Non-interest Income - $293,000.00

Non-Interest Expense

Salaries and Employee Benefits - $1,110,00.00

Expense of Premises and Fixed Assets - $159,000.00

Other Non-interest Expense - $906,000.00

Total Non-interest Expense - $2,175,000.00

Income Before Income Tax - $467,000.00

Less Income tax - $-54,000.00

Net Income - $413,000.00

December 31, 2021

Interest and Fee income on Loans

Real Estate Loans- $1,679,000.00

Commercial and Industrial Loans - $167,000.00

Credit Cards - $0.00

Consumer Loans - $86,000.00

Other Loans - $224,000.00

Interest Income: Financial Institutions

U.S. Treasury Securities & U.S. Government Agency Obligations - $82,000.00

Municipal Securities - $40,000.00

Interest of Fed Funds sold - $41,000.00

Dividends - $11,000.00

Total Interest Income - $2,330,000.00

Interest Expense

NOW Accounts - $18,000.00

Saving Accounts including MMDA  - $23,000.000

Time Certificates of $250,000 or more - $8,000.00

All Other Time Deposits - $231,000.00

Repurchase Agreements - $0.00

Total Interest Expense - $280,000.00

Net Interest Income - 2,050,000.00

Provision for Loan Losses - $0.00

Non-Interest Income

Service Charges of Deposit Accounts - $100,000.00

All Other Non-interest Income - $426,000.00

Non-Interest Expense

Salaries and Employee Benefits - $1,047,00.00

Expense of Premises and Fixed Assets - $157,000.00

Other Non-interest Expense - $1,024,000.00

Total Non-interest Expense - $2,228,000.00

Income Before Income Tax - $348,000.00

Less Income tax - $-32,000.00

Net Income - $316,000.00

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