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 March 31, 2023)
| Cash and due from banks | 51,815,806 | |
| U.S. government agency bonds | 155,356,340 | |
| Municipal bonds | 49,461,798 | |
| Other investments | 313,400 | |
| Federal reserve bank stock | 57,800 | |
| Federal home loan bank stock | 496,200 | |
| Unrealized gain (loss) on available-for-sale securities | (25,137,020) | 180,548,518 |
| Loans | 218,300,667 | |
| Less: reserve for loan losses | 2,760,423 | 215,540,244 |
| Federal funds sold | 0 | |
| Bank premises and equipment | 4,273,894 | |
| Accrued interest receivable | 1,924,504 | |
| Other assets | 6,179,307 | |
| TOTAL ASSETS | $460,282,273 |
liabilities AND CAPITAL (As of March 31, 2023)
| Demand deposits | 91,446,884 | |
| Time and savings deposits | 321,910,012 | 413,356,896 |
| Accrued interest payable |
| 349,874 |
| Other liabilities | 1,978,320 | |
| Repurchase agreements | 13,604,729 | |
| Federal home loan bank- Federal funds advances | 0 | |
| Reserve for contingencies | 50,000 | |
| Capital | 963,000 | |
| Surplus | 963,000 | |
| Undivided profits | 54,291,730 | |
Unrealized gain (loss) on available-for-sale securities & supplemental retirement trust | ($25,275,276) | 30,992,454 |
| TOTAL LIABILITIES AND CAPITAL | $460,282,273 |
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