Condensed Statement of Condition |
| Assets | 2007 | 2008 |
|---|---|---|
| Cash and Cash Equivalents | $6,954,563 |
$19,814,091 |
| Investment at Cost (Current Market Value $24,112,020) | 18,801,000 |
24,112,020 |
| FHLB Stock | 4,575,100 |
4,820,100 |
| Life Insurance Contracts | 12,509,964 |
12,996,500 |
| Loans & Discounts, Net | 276,860,371 |
318,895,332 |
| Company Property (Net of Depreciation) | 1,368,604 |
1,205,714 |
| Real Property Held For Sale, (Net of Depreciation and Encumbrances) | 1,176,913 |
2,749,560 |
| Other Tangible Assets | 5,622,291 |
6,213,405 |
| TOTAL ASSETS | $327,868,806 |
$390,806,722 |
| LIABILITIES AND NET WORTH | 2007 | 2008 |
|---|---|---|
| Term and Statement Accounts | $195,719,230 |
$263,349,007 |
| Notes Payable - Bank | 95,000,000 |
90,000,000 |
| Notes Payable - Parent & Affiliate | 0 |
0 |
| Other Liabilities | 5,509,260 |
5,756,430 |
| TOTAL LIABILITIES | 296,228,490 |
359,105,437 |
| NET WORTH | 31,640,316 |
31,701,285 |
| TOTAL LIABILITIES AND NET WORTH | $327,868,806 |
$390,806,722 |
| NET WORTH REPRESENTED BY: | 2007 | 2008 |
|---|---|---|
| Capital Stock | $1,113,414 |
$1,113,414 |
| Paid-In Surplus | 1,579,814 |
1,579,814 |
| Earned Surplus | 28,947,088 |
29,008,057 |
| NET WORTH | $31,640,316 |
$31,701,285 |
If you desire more detailed information, a copy of the company's audited financial statements as of December 31, 2008 |
and for the period of January 1, 2008 to December 31, 2008, is available for your inspection in any of our company's |
offices during regular business hours. |