|
|||
|
FAIRFIELD NATIONAL BANK |
|||
|
Balance Sheets - December 31, 2010 and 2009 |
|||
|
(Restated) |
|||
|
2010 |
2009 |
||
| ASSETS | |||
| Cash and due from banks | $13,552,888 | $12,758,036 | |
| Federal funds sold | 1,395,845 | 74,933 | |
| Cash and cash equivalents | 14,948,733 | 12,832,969 | |
| Interest-bearing deposits in other banks | 262,712 | 252,833 | |
| Available-for-sale securities | 138,835,335 | 127,413,308 | |
| Loans, net of allowance for loan losses of $1,306,111 | 174,695,919 | 170,727,560 | |
| and $2,164,156 at December 31, 2010 and 2009 | |||
| Premises and equipment, net | 4,338,891 | 4,533,128 | |
| FRB and FHLB stock | 3,536,382 | 3,536,382 | |
| Interest Receivable | 2,618,156 | 2,582,862 | |
| Bank-owned life insurance | 7,712,582 | 7,165,200 | |
| Prepaid FDIC assessment | 780,650 | 1,114,363 | |
| Goodwill | 5,401,885 | 5,401,885 | |
| Intangible assets | 351,573 | 491,944 | |
| Prepaid dealer reserve | 812,063 | 848,014 | |
| Refundable income taxes | 1,047,664 | 1,159,451 | |
| Deferred income taxes | 939,169 | 1,495,530 | |
| Other assets | 244,725 | 259,164 | |
| Total assets | $356,526,439 | $339,814,593 | |
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||
| Liabilities | |||
| Deposits | |||
| Demand | $88,144,822 | $79,845,651 | |
| Savings, Now and money market | 44,060,205 | 33,661,736 | |
| Time | 127,492,484 | 124,098,220 | |
| Total Deposits | 259,697,511 | 237,605,607 | |
| Short-term borrowings | 5,470,004 | 4,080,204 | |
| FHLB advances | 54,501,608 | 62,727,229 | |
| Accrued interest payable | 558,291 | 721,568 | |
| Supplemental retirement plan liability | 1,634,134 | 1,491,748 | |
| Other liabilities | 508,461 | 498,604 | |
| Total liabilities | 322,370,009 | 307,124,960 | |
| Stockholders' equity | |||
| Common stock, $100 par value; | |||
| authorized and issued - 54,000 shares | 5,400,000 | 5,400,000 | |
| Additional paid-in capital | 10,528,619 | 10,528,619 | |
| Retained earnings | 18,278,182 | 15,639,196 | |
| Accumulated other comprehensive income (loss) | (50,371) | 1,121,818 | |
| Total stockholders' equity | 34,156,430 | 32,689,633 | |
| Total liabilities and stockholders' equity | $356,526,439 | $339,814,593 | |
Equal Housing Lender