Financial Statements
In compliance with its Investor Relations
Policy, the Bancorp does not mail quarterly reports or other
financial updates to shareholders. Summary financial
information for the most recent quarter is below. You may also review full, audited financial statements in PDF file format (requires Adobe Acrobat or Acrobat Reader).
Selected Balance Sheet Information |
|
|
March 31 (Unaudited1) |
|
2007 |
|
2008 |
|
Cash Equivalents |
47,221,906 |
|
24,376,478 |
Investment Securities |
114,489,639 |
|
179,706,456 |
Loans, net of Reserve |
353,112,200 |
|
343,126,320 |
Bank owned life insurance |
6,756,340 |
|
7,041,990 |
Goodwill |
4,696,250 |
|
4,687,349 |
Other Assets |
5,975,168 |
|
6,843,835 |
|
Total Assets |
532,251,503 |
|
565,782,428 |
|
|
Deposits |
431,585,834 |
|
470,916,805 |
FHLB Advances |
54,700,000 |
|
46,000,000 |
Other Liabilities |
2,394,074 |
|
2,904,167 |
Shareholder's Equity |
43,571,595 |
|
45,961,456 |
|
Total Liabilities & Equity |
532,251,503 |
|
565,782,428 |
Selected Income Statement Information |
|
March 31 (Unaudited1) |
|
2007 |
|
2008 |
|
Net Interest Income |
2,883,757 |
|
2,769,636 |
Non-Interest Income |
699,432 |
|
700,784 |
Provision for Loan and Lease Losses |
(633,456) |
|
(898,290) |
Non-Interest Expense |
(2,031,894) |
|
(2,235,678) |
|
Net Income Before Taxes |
917,839 |
|
336,452 |
|
Tax Benefit (Expense) |
(229,594) |
|
33,487 |
|
Net Income |
688,245 |
|
369,939 |
|
|
|
|
Income per share: |
|
|
|
Basic |
0.37 |
|
0.20 |
|
|
|
|
Weighted average of shares outstanding: |
|
|
|
Basic |
1,862,300 |
|
1,872,739 |
1Financial results for the Bancorp are audited by external accountants on an annual basis; however, external auditors are not engaged to review quarterly information.
|
