Assets and Liabilities of the Bank
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.
Assets (As of june 30, 2024)
Cash and due from banks | 13,391,595 | |
U.S. government agency bonds | 131,945,052 | |
Municipal bonds | 47,278,116 | |
Other investments | 330,750 | |
Federal reserve bank stock | 57,800 | |
Federal home loan bank stock | 243,600 | |
Unrealized gain (loss) on available-for-sale securities | (24,693,962) | 155,161,356 |
Loans | 217,103,673 | |
Less: reserve for loan losses | 3,097,895 | 214,005,778 |
Federal funds sold | 0 | |
Bank premises and equipment | 4,186,484 | |
Accrued interest receivable | 2,306,227 | |
Other assets | 9,274,796 | |
TOTAL ASSETS | $398,326,236 |
liabilities AND CAPITAL (As of June 30, 2024)
Demand deposits | 61,788,621 | |
Time and savings deposits | 285,907,403 | 347,696,024 |
Accrued interest payable |
| 1,014,390 |
Other liabilities | 2,204,261 | |
Repurchase agreements | 16,271,086 | |
Federal home loan bank- Federal funds advances | 0 | |
Other Borrowings | 0 | |
Reserve for contingencies | 50,000 | |
Capital | 963,000 | |
Surplus | 963,000 | |
Undivided profits | 54, 008,493 | |
Unrealized gain (loss) on available-for-sale securities & supplemental retirement trust | ($24,844,018) | 31,140,475 |
TOTAL LIABILITIES AND CAPITAL | $398,326,236 |