Statement of Condition
| |
Dec.
31, 2006 |
Dec.
31, 2005 |
| Cash & Due From
Banks |
10,773,415 |
14,967,886 |
| Federal Agency Issues |
71,711,195 |
91,775,575 |
| Obligations of States
and Political Subdivisions |
28,858,072 |
21,077,702 |
| Federal
Reserve Bank Stock/FHLB Stock |
716,900 |
1,844,000 |
| Other
Securities |
0 |
0 |
| Federal Funds Sold |
0 |
5,700,000 |
| Loans and Discounts |
240,036,188 |
184,192,931 |
| Reserve for Bad Debts
|
(2,805,328) |
(2,347,411) |
| |
|
|
| Fixed Assets |
7,486,488 |
6,652,046 |
| Accrued Interest Income |
3,811,106 |
2,975,735 |
| Other Assets |
9,721,109 |
4,224,457 |
|
TOTAL
RESOURCES
|
$370,309,145 |
$331,102,920 |
| |
|
|
| Capital Stock |
675,000 |
450,000 |
| Paid in Capital |
10,072,948 |
10,297,948 |
| Retained Earnings |
27,318,356 |
22,834,219 |
| (Less:
Treasury Stock) |
(812,243) |
(812,243) |
| Net Unrealized Gains
(Losses) on Available For Sale Securities |
(1,254,647) |
(1,371,183) |
|
TOTAL
CAPITAL
|
$35,999,414 |
$31,398,741 |
| |
|
|
| Federal
Funds Purchased |
6,300,000 |
0 |
| Dividends
Payable |
427,707 |
329,006 |
| Accrued Expenses
Payable |
783,994 |
747,928 |
| Other Liabilities |
1,118,408 |
397,652 |
| Demand
Deposits - Non-Interest Bearing |
75,734,615 |
74,663,622 |
| Interest Bearing
Deposits |
249,945,007 |
223,565,972 |
|
TOTAL
LIABILITIES
|
$370,309,145 |
$331,102,921 |
|
 |
