You are here

Financial Highlights

Year-end Results

Balance Sheet (Unaudited)

as of December 31, 2016 (in thousands)

Assets: 12/31/16 12/31/15 Change
       
Cash and securities $130,234 $116,138 $14,096
Loan receivable, net 1,456,879 1,420,559 36,320
Premises and equipment, net 3,636 4,651 (1,015)
FHLB Stock, at cost 21,178 15,536 5,642
Other Intangible Assets 0 0 0
Other Assets 9,334 9,530 (196)
       
Total Assets $1,621,261 $1,566,414 $54,847
       

 

Liabilities and Stockholders' Equity: 12/31/16 12/31/15 Change
       
Deposits $1,005,506 $1,083,453 ($77,947)
FHLB Advances & other borrowed money 465,134 333,154 131,980
Other Liabilities  9,068 11,781 (2,713)
Total Liabilities 1,479,708 1,428,388 51,320
Stockholders' Equity 141,553 138,026 3,527
       
Total Liabilities & Stockholders' Equity $1,621,261 $1,566,414 $54,847

 

Capital Ratios: 12/31/16 12/31/15 Change
       
Tier 1 Core Capital Ratio 8.77% 8.79% -0.02%
Tier 1 Risk-Based Capital Ratio 11.77% 12.16% -0.39%
Total Risk-Based Capital Ratio  13.03% 13.43% -0.40%

 

Statement of Income (Unaudited)

(in thousands)

For the Twelve Months Ended 12/31/16 12/31/15 Change
       
Interest Income $62,617 $59,510 $3,107
Interest Expense 9,497 9,414 83
Net Interest Income 53,120 50,096 3,024
Noninterest Income 7,927 7,783 144
       
Total Revenues $61,047 $57,879

$3,168

       
Noninterest expense 59,246 56,773 2,473
Profit before provision for loan losses 1,801 1,106 695
Provision for loan losses 0 (4,500) 4,500
Income before income tax and merger expenses $1,801 $5,606 ($3,805)
Income taxes (**) - - 0
       
Net Income $1,801 $5,606 ($3,805)

 

(**) Full Valuation Allowance for Deferred Tax Receivables was established in September 2013.
(**) Income Taxes are adjustments to the Allowance for Deferred Tax Receivables