We are proud to be rated as a "Blue Ribbon Bank" by Veribanc Inc. based on our safety and soundness. Following is an overview of our financial performance.
Statement of Condition
At the close of business June 30, 2010
Assets
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| Cash and due from banks | 17,794,840
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| U.S. government bonds | 78,557,381
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| Municipal Bonds | 45,577,116
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| Other Investments | 73,750
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| Federal reserve bank stock | 57,800
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| Federal home loan bank stock | 459,600
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| Unrealized gain (loss) on available-for-sale securities |
2,102,494
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126,828,141
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| Loans | 189,579,497
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| Less: reserve for bad debts | 1,983,918
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187,595,579
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| Federal funds sold | 4,900,000
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| Bank premises and fixtures | 6,008,167
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| Accrued interest receivable | 2,138,091
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| Other assets | 7,739,918
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| Total assets | $353,004,736
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Liabilities and Capital
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| Demand deposits | 38,400,237
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| Time and savings deposits | 256,846,949
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295,247,186
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| Accured interest payable | 559,157
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| Other Liabilities | 909,721
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| Repurchase agreements | 13,645,099
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| Reserve for contingencies | 50,000
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| Capital | 963,000
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| Surplus | 963,000
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| Undivided Profits | 38,555,292
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| Unrealized gain (loss) On available-for-sale securities |
2,112,281
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42,643,573
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| Total liabilities and capital | $353,004,736
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