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Presidential Bank, FSB
Consolidated Statement of ConditionFiscal Year-End March 31, 2012
Assets | |
Cash and cash equivalents | $100,435,178 |
Federal funds sold | 3,007,697 |
Investment securities - held-to-maturity | 1,499,471 |
Mortgage loans held for sale | 121,516,996 |
Loans receivable, net | 272,102,753 |
Accrued interest receivable | 1,695,553 |
Federal home loan bank stock, at cost | 1,596,000 |
Bank premises and equipment, net | 2,291,614 |
Deferred income taxes | 4,673,293 |
Income taxes receivable | 1,676,482 |
Other real estate owned, net | 15,392,827 |
Other assets | 6,219,462 |
Total assets | $532,107,326 |
Liabilities and Equity | |
Deposits | $469,943,223 |
Mortgage funding and cashiers' checks outstanding | 3,711,830 |
Advance payments from borrowers for taxes and insurance | 1,610,225 |
Accrued expenses and other liabilities | 9,965,797 |
Total liabilities | $485,231,075 |
Shareholders' equity | |
Capital stock ($1.00 par value) | 428,829 |
Additional paid-in capital | 6,381,193 |
Retained earnings | 38,831,865 |
Total shareholders' equity | $45,641,887 |
Non-controlling Interests | 1,234,364 |
Total equity | 46,876,251 |
Total liabilities and equity | $532,107,326 |
NOTE: This statement has been prepared in accordance with the regulatory requirements of the Office of the Comptroller of the Currency (OCC). Tangible, Core, and Total Capital are the elements of regulatory capital determined under such reporting requirements. Regulatory capital is the basis by which the OCC determines whether a savings association is operating in a safe and sound manner. As of March 31, 2012, Presidential Bank's capital levels continue to exceed all regulatory minimums, with Core and Tangible Capital of $46,876,251 and Total Capital of $50,868,438.