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Presidential Bank, FSB

Consolidated Statement of ConditionFiscal Year-End March 31, 2020

Assets

Cash and cash equivalents

$36,889,904

Federal funds sold

742,506

Investment securities - available-for-sale 

34,206,800

Mortgage loans held for sale

116,491,047

Loans receivable, net

420,217,995

Accrued interest receivable

2,076,908

Federal home loan bank stock, at cost

555,500

Bank premises and equipment, net

3,494,894

Deferred income taxes

626,710

Income taxes receivable

387,741

Bank-owned life insurance

12,044,115

Other assets

16,584,381

Total assets

$644,318,501


Liabilities and Equity

Deposits

$558,446,867

Mortgage funding and cashiers' checks outstanding

2,711,548

Advance payments from borrowers for taxes and insurance

2,713,328

Accrued expenses and other liabilities

13,955,656

Total liabilities

$577,827,399

Shareholders' equity

Capital stock ($1.00 par value)

428,829

Additional paid-in capital

6,381,193

Retained earnings

59,133,766

Accumulated other comprehensive loss

547,314

Total equity

$66,491,102

Total liabilities and equity

$644,318,501


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