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 September 30, 2024)
| Cash and due from banks | 17,780,949 | |
| U.S. government agency bonds | 128,502,368 | |
| Municipal bonds | 46,957,255 | |
| 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 | (19,055,050) | 157,036,723 |
| Loans | 226,954,077 | |
| Less: reserve for loan losses | 3,119,271 | 223,834,806 |
| Federal funds sold | 0 | |
| Bank premises and equipment | 4,122,520 | |
| Accrued interest receivable | 2,126,816 | |
| Other assets | 6,221,278 | |
| TOTAL ASSETS | $411,123,092 |
liabilities AND CAPITAL (As of September 30, 2024)
| Demand deposits | 62,177,017 | |
| Time and savings deposits | 290,619,985 | 352,797,002 |
| Accrued interest payable |
| 964,189 |
| Other liabilities | 2,958,803 | |
| Repurchase agreements | 16,434,563 | |
| Federal Funds Purchased | 0 | |
| Federal home loan bank- Federal funds advances | 0 | |
| Other Borrowings | 0 | |
| Reserve for contingencies | 50,000 | |
| Capital | 963,000 | |
| Surplus | 963,000 | |
| Undivided profits | 55,197,641 | |
Unrealized gain (loss) on available-for-sale securities & supplemental retirement trust | (19,205,106) | 37,968,535 |
| TOTAL LIABILITIES AND CAPITAL | $411,123,092 |
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