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FAIRFIELD NATIONAL BANK |
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Balance Sheets - December 31, 2006 and 2007 |
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2007 |
2006 |
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| ASSETS | |||
| Cash and due from banks | 10,455,269 | 5,703,025 | |
| Interest-bearing deposits in other banks | 203,240 | 1,012,558 | |
| Securities available for sale | 123,746,019 | 123,698,442 | |
| Securities held to maturity | 35,000 | 170,470 | |
| Other securities | 3,536,382 | 3,536,382 | |
| Federal funds sold | 7,617,197 | 4,787,193 | |
| Loans, net of unearned income of $308,663 and $285,925 respectively | 134,478,721 | 112,216,307 | |
| Less allowance for loan loss | (1,630,133) | (1,671,474) | |
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| Loans, net | 132,848,588 | 110,544,833 | |
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| Accrued interest receivable | 2,593,294 | 2,343,105 | |
| Bank premises and equipment | 2,362,680 | 2,141,439 | |
| Goodwill | 5,401,885 | 5,401,885 | |
| Other intangible assets | 842,228 | 1,053,428 | |
| Bank owned life insurance | 6,345,353 | 6,122,103 | |
| Prepaid expense and other assets | 928,041 | 534,064 | |
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| 296,915,176 | 267,048,927 | ||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||
| Liabilities | |||
| Deposits | |||
| Non-interest bearing | 25,330,690 | 23,048,783 | |
| Interest-bearing | 181,202,739 | 178,392,923 | |
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| Total Deposits | 206,533,429 | 201,441,706 | |
| Securities sold under repurchase agreements and federal funds purchased | 12,709,580 | 6,110,213 | |
| Other borrowings | 42,920,381 | 25,961,800 | |
| Accrued interest payable | 1,135,197 | 1,126,146 | |
| Other liabilities | 1,453,667 | 1,403,465 | |
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| 264,752,254 | 236,043,330 | ||
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| Commitments and Contingent Liabilities | |||
| Stockholders' Equity | |||
| Common stock, $100 par value; | |||
| 54,000 and 54,000 shares authorized and issued | 5,400,000 | 5,400,000 | |
| Paid-in-capital | 10,528,619 | 10,528,619 | |
| Retained earnings | 16,989,366 | 15,827,521 | |
| Accumulated other comprehensive income: | |||
| Unrealized gain (loss) on securities | (755,063) | (750,543) | |
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| 32,162,922 | 31,005,597 | ||
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| 296,915,176 | 267,048,927 | ||
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Equal Housing Lender
