December 31, 2023

‍

Assets

Cash & Due from Banks - $11,460,000.00

Securities

Cash & Held to Maturity Securities - $0.00

Available for Sale Securities - $19,082,000.00

Federal Funds Sold - $5,065,000.00

Loans, Net of Unearned Income - $53,444,000.00

Less: Allowance for Loan Loss - $-501,000.00

Net Loans - $52,943,000.00

Premises and Fixed Assets - $1,439,000.00

Intangible Assets - $0.00

Other Assets - $6,822,000.00

‍Total Assets - $96,811,000.00

‍

Liabilities

‍Deposits:

‍Non-Interest Bearing - $13,540,000.00

Interest Bearing - $63,573,000.00

Securities Sold Under Agreement to Repurchase - $0.00

Other Liabilities - $1,772,000.00

‍Total Liabilities - $78,885,000.00

‍

Equity Capital:

‍Common Stock - $1,000,000.00

Surplus - $1,000,000.00

Undivided Profits - $16,210,000.00

Net unrealized gains (losses) on securities - $-284,000.00

‍Total Equity Capital - $17,926,000.00

‍

Total Liabilities & Capital

$96,811,000.00

December 31, 2022

‍

Assets

Cash & Due from Banks - $28,461,000.00

Securities

Cash & Held to Maturity Securities - $0.00

Available for Sale Securities - $14,560,000.00

Federal Funds Sold - $11,072,000.00

Loans, Net of Unearned Income - $49,989,000.00

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

Net Loans - $49,518,000.00

Premises and Fixed Assets - $1,551,000.00

Intangible Assets - $0.00

Other Assets - $6,365,000.00

‍Total Assets - $111,527,000.00

‍

Liabilities

‍Deposits:

‍Non-Interest Bearing - $16,270,000.00

Interest Bearing - $76,777,000.00

Securities Sold Under Agreement to Repurchase - $0.00

Other Liabilities - $1,709,000.00

‍Total Liabilities - $94,756,000.00

‍

Equity Capital:

‍Common Stock - $1,000,000.00

Surplus - $1,000,000.00

Undivided Profits - $15,331,000.00

Net unrealized gains (losses) on securities - $-560,000.00

‍Total Equity Capital - $16,771,000.00

‍

Total Liabilities & Capital

$111,527,000.00

‍

Comparative Statement of Earnings

December 31, 2023

‍

Interest and Fee income on Loans

Real Estate Loans- $1,859,000.00

Commercial and Industrial Loans - $179,000.00

Credit Cards - $0.00

Consumer Loans - $89,000.00

Other Loans - $300,000.00

‍

Interest Income: Financial Institutions

U.S. Treasury Securities & U.S. Government Agency Obligations - $1,490,000.00

Municipal Securities - $23,000.00

Interest of Fed Funds sold - $294,000.00

Dividends - $83,000.00

‍Total Interest Income - $4,317,000.00

‍

Interest Expense

‍NOW Accounts - $148,000.00

Saving Accounts including MMDA  - $178,000.000

Time Certificates of $250,000 or more - $15,000.00

All Other Time Deposits - $259,000.00

Repurchase Agreements - $0.00

‍Total Interest Expense - $600,000.00

Net Interest Income - 3,717,000.00

‍

‍Provision for Loan Losses - $0.00

‍

Non-Interest Income

Service Charges of Deposit Accounts - $107,000.00

All Other Non-interest Income - $256,000.00

‍

Non-Interest Expense

Salaries and Employee Benefits - $1,240,00.00

Expense of Premises and Fixed Assets - $224,000.00

Other Non-interest Expense - $1,222,000.00

Total Non-interest Expense - $2,686,000.00

Income Before Income Tax - $1,394,000.00

Less Income tax - $-246,000.00

Net Income - $1,148,000.00

December 31, 2022

‍

Interest and Fee income on Loans

Real Estate Loans- $1,663,000.00

Commercial and Industrial Loans - $156,000.00

Credit Cards - $0.00

Consumer Loans - $72,000.00

Other Loans - $236,000.00

‍

Interest Income: Financial Institutions

U.S. Treasury Securities & U.S. Government Agency Obligations - $946,000.00

Municipal Securities - $19,000.00

Interest of Fed Funds sold - $20,000.00

Dividends - $81,000.00

‍Total Interest Income - $3,193,000.00

‍

Interest Expense

‍NOW Accounts - $44,000.00

Saving Accounts including MMDA  - $52,000.000

Time Certificates of $250,000 or more - $5,000.00

All Other Time Deposits - $113,000.00

Repurchase Agreements - $0.00

‍Total Interest Expense - $214,000.00

Net Interest Income - 2,979,000.00

‍

‍Provision for Loan Losses - $0.00

‍

Non-Interest Income

Service Charges of Deposit Accounts - $109,000.00

All Other Non-interest Income - $434,000.00

‍

Non-Interest Expense

Salaries and Employee Benefits - $1,169,00.00

Expense of Premises and Fixed Assets - $226,000.00

Other Non-interest Expense - $1,104,000.00

Total Non-interest Expense - $2,499,000.00

Income Before Income Tax - $1,023,000.00

Less Income tax - $-158,000.00

Net Income - $865,000.00

‍

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