 |
|
First
State Bank and Trust Comparative Balance Sheet (Unaudited) |
| |
December
31 |
December
31 |
| ASSETS |
2007 |
2006 |
| |
|
| Cash
and cash equivalents |
$
6,918,000 |
$
7,848,000 |
| Investment
securities |
$
50,981,000 |
$
43,250,000 |
| Federal
funds sold |
$
11,881,000 |
$
17,039,000 |
Loans:
Less loan loss reserve
of $1,372,000 and $1,607,000 respectively |
$
119,326,000 |
$128,831,000 |
| Bank
premises and equipment |
$
4,888,000 |
$
4,968,000 |
| Interest
receivable |
$
1,207,000 |
$
1,228,000 |
| Other
assets |
$
2,368,000 |
$
2,401,000 |
|
Total Assets |
$
197,569,000 |
$
200,565,000 |
| |
|
|
| LIABILITIES |
|
|
| Deposits: |
|
|
Noninterest-bearing
|
$
37,797,000 |
$
38,658,000 |
Interest-bearing
|
$
139,643,000 |
$
138,790,000 |
Total
deposits
|
$
177,440,000 |
$
177,448,000 |
| Borrowings |
$
2,132,000 |
$
4,201,000 |
| Other
liabilities |
$
2,978,000 |
$
2,719,000 |
| Total
liabilities |
$
182,550,000 |
$
184,368,000 |
| |
|
|
| STOCKHOLDERS
EQUITY |
|
|
| Common
stock, par value $40/share-121,500 shares authorized and
outstanding |
$ 4,860,000 |
$
4,860,000 |
| Capital
surplus |
$ 7,640,000 |
$
7,640,000 |
| Gain/Loss
on AFS securities |
$
41,000 |
($
309,000) |
| FAS 158 Postretirement account |
$
153,000 |
0 |
| Retained
earnings |
$
2,325,000 |
$
4,006,000 |
| Total
stockholders equity |
$
15,019,000 |
$
16,197,000 |
Total
liabilities
&
stockholders
equity |
$
197,569,000 |
$
200,565,000 |
2007 was a year of considerable economic uncertainty and, although a challenge,
First State Bank and Trust performed
very well.
With significant turmoil in the country’s housing and mortgage markets, we focused on maintaining asset quality with favorable results. Our bank’s net income was very strong and our Trust Department, along with Hanzlik Financial, reported record financial results for 2007.
Looking ahead to 2008, we expect economic challenges to continue. We are anticipating modest growth and, as a locally owned community bank, we remain committed to meeting the various needs of our customers as we have done since 1914.
Thank you for your continued interest in our bank as a client, shareholder, or prospective customer. Our staff and board strive to make this your community bank: “In the First place, we’re here for you!”
Thank you,
Pete Clements
President
Return
to Top
|
|
