Consolidated Statements of Financial Condition
As of December 31, 2009.
Assets
| Cash and due from banks |
$2,683,000 |
| Federal funds sold |
$14,569,000 |
| Investment securities - available for sale |
$6,029,000 |
| Mortgage backed securities - held to maturity |
$652,000 |
| Loans held for sale |
$1,017,000 |
| Loans receivable - net of allowance for loan losses of $1,520,000 |
$163,392,000 |
| Foreclosed real estate |
$2,388,000 |
| Federal Home Loan Bank of Atlanta stock, at cost |
$2,006,000 |
| Premises and Equipment, net |
$4,872,000 |
| Accrued interest receivable |
$762,000 |
| Other assets |
$1,225,000 |
| Total assets |
$199,595,000 |
Liabilities and Stockholders' Equity
| Liabilities | |
| Deposits |
$142,446,000 |
| Borrowings |
$37,000,000 |
| Advance payments by borrowers for taxes and insurance | $477,000 |
| Other liabilities | $427,000 |
| Total liabilities | $180,350,000 |
| |
|
| Stockholders' Equity |
|
| Preferred stock , no par value, 1,000,000 shares authorized, none issued and outstanding at December 31, 2009 |
|
| Common stock, par value $.01, 9,000,000 shares authorized, 2,975,625 shares issued at December 31, 2009 and 2,661,682 shares outstanding at December 31, 2009 |
$30,000 |
| Additional paid-in capital |
$12,893,000 |
| Retained earnings (substantially restricted) |
$9,434,000 |
| Unearned Employee Stock Ownership Plan shares |
($875,000) |
| Treasury stock at cost, 2009, 313,943 shares |
($2,377,000) |
| Accumulated other comprehensive income |
$140,000 |
| Total Stockholder's Equity |
$19,245,000 |
| |
|
| Total liabilities and stockholders' equity |
$199,595,000 |