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Presidential Bank, FSB
Consolidated Statement of ConditionFiscal Year-End March 31, 2002
Assets | |
Cash and due from banks | $3,786,198 |
Federal funds sold | 77,632,443 |
Investment securities - available-for-sale | 2,100,00 |
Investment securities - held-to-maturity | 5,920,249 |
Loans held for sale | 22,286,965 |
Loans and leases receivable, net | 154,318,799 |
Accrued interest receivable | 1,176,071 |
Federal home loan bank stock, at cost | 1,293,500 |
Bank premises and equipment, net | 1,155.418 |
Deferred income taxes | 290,192 |
Prepaid income taxes | 226,855 |
Other assets | 1,407,663 |
Total assets | $271,594,353 |
Liabilities and Equity | |
Deposits | $223,888,756 |
Federal home loan bank advances | 10,000,000 |
Mortgage funding and cashiers' checks outstanding | 13,722,930 |
Advance payments from borrowers for taxes and insurance | 720,926 |
Accrued expenses and other liabilities | 1,065,161 |
Total liabilities | $249,397,773 |
Minor interest in subsidiary | 821,494 |
Shareholders' equity | |
Capital stock ($1.00 par value) | 428,829 |
Additional paid-in capital | 6,381,193 |
Retained earnings | 14,565,064 |
Total shareholders' equity | $21,375,086 |
Total liabilities and shareholders' equity | $271,594,353 |
NOTE: This statement has been prepared in accordance with the regulatory requirements of the Office of Thrift Supervision (OTS). Tangible, Core, and Total Capital are the elements of regulatory capital determined under such reporting requirements. Regulatory capital is the basis by which the OTS determines whether a savings association is operating in a safe and sound manner. As of March 31, 2002, Presidential Bank, FSB was in the "well capitalized" category as defined by OTS, with Core and Tangible Capital of $22,196,580 and Total Capital of $23,378,494, compared to the applicable minimum regulatory requirements of $4,075,176 for Tangible Capital, $10,867,136 for Core Capital, and $13,200,890 for Total Capital.