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Presidential Bank, FSB
Consolidated Statement of ConditionFiscal Year-End March 31, 2004
Assets | |
Cash and due from banks | $4,797,576 |
Federal funds sold | 120,225,734 |
Investment securities - available-for-sale | 5,438,104 |
Investment securities - held-to-maturity | 2,578,198 |
Loans held for sale | 35,682,599 |
Loans and leases receivable, net | 236,446,898 |
Accrued interest receivable | 1,130,042 |
Federal home loan bank stock, at cost | 881,800 |
Bank premises and equipment, net | 950,278 |
Deferred income taxes | 283,259 |
Other assets | 1,000,873 |
Total assets | $409,415,361 |
Liabilities and Equity | |
Deposits | $363,975,848 |
Mortgage funding and cashiers' checks outstanding | 14,121,387 |
Advance payments from borrowers for taxes and insurance | 1,311,728 |
Income taxes payable | 377,671 |
Accrued expenses and other liabilities | 1,876,704 |
Total liabilities | $381,663,338 |
Minor interest in subsidiary | 385,465 |
Shareholders' equity | |
Capital stock ($1.00 par value) | 428,829 |
Additional paid-in capital | 6,381,193 |
Retained earnings | 20,556,536 |
Total shareholders' equity | $27,366,558 |
Total liabilities and shareholders' equity | $409,415,361 |
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, 2004, Presidential Bank, FSB was in the "well capitalized" category as defined by OTS, with Core and Tangible Capital of $27,752,023 and Total Capital of $28,666,427, compared to the applicable minimum regulatory requirements of $6,135,629 for Tangible Capital, $16,361,676 for Core Capital, and $19,223,703 for Total Capital.