You are here

Financial Highlights

Balance Sheet (Unaudited)

as of September 30, 2017 (in thousands)

Assets: 9/30/17 9/30/16 Change
       
Cash and securities $134,512 $163,670 ($29,158)
Loan receivable, net 1,442,769 1,427,064 15,705
Premises and equipment, net 4,307 3,843 464
FHLB Stock, at cost 18,039 20,286 (2,247)
Other Assets 7,615 9,375 (1,760)
       
Total Assets $1,607,242 $1,624,238 ($16,996)
       

 

Liabilities and Stockholders' Equity: 9/30/17 9/30/16 Change
       
Deposits $1,063,786 $1,031,984 $31,802
FHLB Advances & other borrowed money 390,118 444,139 (54,021)
Other Liabilities  8,921 8,595 326
Total Liabilities 1,462,825 1,484,718 (21,893)
Stockholders' Equity 144,417 139,520 4,897
       
Total Liabilities & Stockholders' Equity $1,607,242 $1,624,238 ($16,996)

 

Capital Ratios: 9/30/17 9/30/16 Change
       
Tier 1 Leverage Ratio 9.02% 8.55% 0.47%
Tier 1 Capital Ratio 12.34% 11.89% 0.45%
Total Capital Ratio 13.60% 13.15% 0.45%

 

Statement of Income (Unaudited)

(in thousands)

For the Nine Months Ended 9/30/17 9/30/16 Change
       
Interest Income $45,693 $47,544 ($1,851)
Interest Expense 8,255 7,174 1,081
Net Interest Income 37,438 40,370 (2,932)
Noninterest Income 5,065 5,182 (117)
       
Total Revenues $42,503 $45,552 ($3,049)
       
Noninterest expense 38,832 45,924 (7,092)
Profit before provision for loan losses 3,671 (372) 4,043
Provision for loan losses - - -
Income before income tax expense $3,671 ($372) $4,043
Income taxes (*) 1,234 - 1,234
       
Net Income $2,437 ($372) $2,809

 

(*) A full Valuation Allowance for Deferred Tax Receivables was established in September 2013. Prior to the first quarter of 2017, income taxes were treated as adjustments to the Valuation Allowance for Deferred Tax Receivables. After full utilization of the Valuation Allowance for Deferred Tax Receivables, income tax expense was recorded starting the first quarter of 2017.