Statement of Condition
| (Unaudited) | (Audited) |
(in thousands $)
|
March 31, 2013 |
March 31, 2012 |
| |
|
|
| ASSETS |
|
|
| Cash and Due from Banks |
$149,544 |
$ 106,371 |
| Investment Securities, available for sale |
38,853 |
22,860 |
| |
|
|
| Total Loans |
600,641 |
498,694 |
| Allowance for Loan Losses |
(6,644) |
(5,945) |
| Loans, net |
593,997 |
492,749 |
| |
|
|
| Premises & Equipment, net |
9,635 |
9,917 |
| Other Real Estate Owned |
634 |
1,193 |
| Accrued Interest Receivable and Other |
6,235 |
5,137 |
| TOTAL ASSETS |
$798,898 |
$638,227 |
| |
|
|
| |
|
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
| LIABILITIES |
|
|
| Deposits |
|
|
| Non-interest bearing |
$218,699 |
$ 155,149 |
| Interest bearing |
511,242 |
427,950 |
| Total Deposits |
729,941 |
583,099 |
| Other Liabilities |
3,933 |
1,887 |
| Total Liabilities |
733,874 |
584,986 |
|
|
|
| SHAREHOLDERS' EQUITY |
|
|
| Common Stock |
3,218 |
3,219 |
| Additional paid-in-capital |
56,337 |
49,857 |
| Retained earnings (deficit) |
5,003 |
(328) |
| Accumulated other comprehensive income |
466 |
493 |
| Total Shareholders Equity |
65,024 |
53,241 |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY |
$798,898 |
$638,227 |
|
