 |
|
|
|
|
|
|
|
|
|
 |
|
|
|
|
|
|
|
|
|
|
|
 |
December 31
| Earning Assets |
2008 |
2007 |
| Cash and amounts due from banks |
7,782,563 |
$6,076,791 |
| Interest bearing deposits |
300,000 |
300,000 |
| Securities available for sale |
218,660,991 |
243,194,605 |
| Loans, net |
415,631,462 |
354,424,330 |
| Property and equipment, net |
5,700,344 |
5,003,735 |
| Federal Home Loan Bank stock, at cost |
6,099,500 |
4,961,800 |
| Federal Reserve Bank stock, at cost |
750,000 |
785,500 |
| Independent Bankers Bank stock, at cost |
101,520 |
101,520 |
| Bank owned life insurance |
14,019,213 |
13,580,683 |
| Accrued interest receivable |
3,519,090 |
4,187,729 |
| Pension plan asset |
- |
1,038,354 |
| Deferred tax asset, net |
9,016,123 |
3,126,899 |
| Other assets |
2,827,430 |
2,212,735 |
| TOTAL ASSETS |
$684,408,236 |
$638,994,681 |
| Deposits |
2008 |
2007 |
| Demand |
85,095,404 |
73,333,134 |
| Super NOW |
68,912,634 |
81,674,207 |
| Grove Investment accounts |
86,573,539 |
71,998,858 |
| Savings |
43,256,712 |
44,080,974 |
| Certificates of deposit and Money market
certificates |
201,251,625 |
182,705,055 |
| TOTAL DEPOSITS |
485,089,914 |
453,792,228 |
| |
| Federal Home Loan Bank advances |
110,000,000 |
85,000,000 |
| Federal funds purchased |
- |
6,370,000 |
| Securities sold under agreements to repurchase |
37,513,799 |
34,032,833 |
| Accrued interest and other liabilities |
4,980,883 |
5,125,618 |
| TOTAL LIABILITIES |
637,584,596 |
584,320,679 |
| |
| STOCKHOLDERS' EQUITY |
| Common stock - $0.01 par value; 5,000,000
shares authorized; 1,260,351 and 1,250,000 shares issued
and outstanding as of December 31, 2006 and 2005, respectively |
12,686 |
12,686 |
| Additional paid-in capital |
25,970,710 |
25,970,710 |
| Retained earnings |
30,382,693 |
32,104,745 |
Common stock in treasury, at cost,2006
- 0 shares; 2005 - 4,288 shares |
(474,958) |
- |
| Accumulated other comprehensive loss,
net of tax |
(9,067,491) |
(3,414,139) |
| |
| TOTAL STOCKHOLDERS' EQUITY |
46,823,640 |
54,674,002 |
| TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY |
$684,408,236 |
$638,994,681 |
|
|
|
|
|
|
|
