Consolidated Statements of Financial Condition
As of December 31, 2010.
Assets
| Cash and due from banks |
$2,737,000 |
| Federal funds sold |
$28,549,000 |
| Investment securities - available for sale |
$5,382,000 |
| Mortgage backed securities - held to maturity |
$316,000 |
| Loans held for sale |
$1,306,000 |
| Loans receivable - net of allowance for loan losses of $1,733,000 |
$146,918,000 |
| Foreclosed real estate |
$3,458,000 |
| Federal Home Loan Bank of Atlanta stock, at cost |
$1,792,000 |
| Premises and Equipment, net |
$4,682,000 |
| Accrued interest receivable |
$664,000 |
| Other assets |
$7,390,000 |
| Total assets |
$203,194,000 |
Liabilities and Stockholders' Equity
| Liabilities | |
| Deposits |
$157,329,000 |
| Borrowings |
$25,000,000 |
| Advance payments by borrowers for taxes and insurance | $454,000 |
| Other liabilities | $499,000 |
| Total liabilities | $183,282,000 |
| |
|
| Stockholders' Equity |
|
| Preferred stock, no par value, 1,000,000 shares authorized, none issued and outstanding |
|
| Common stock, par value $.01, 9,000,000 shares authorized, 2,975,625 shares issued at December 31, 2010 and 2009 and 2,668,683 and 2,661,682 shares outstanding at December 31, 2010 and 2009, respectively |
$30,000 |
| Additional paid-in capital |
$12,859,000 |
| Retained earnings (substantially restricted) |
$9,983,000 |
| Unearned Employee Stock Ownership Plan shares |
($816,000) |
| Treasury stock at cost, 2010, 306,942 shares |
($2,324,000) |
| Accumulated other comprehensive income |
$180,000 |
| Total Stockholder's Equity |
$19,912,000 |
| |
|
| Total liabilities and stockholders' equity |
$203,194,000 |