 |
| Consolidated
Report of Condition |
| |
6/30/2008 |
6/30/2007 |
| Assets |
| Cash and Due
from Banks |
$580,435.00 |
$1,366,095.00 |
| Securities |
$3,680,285.00 |
$2,979,856.00 |
| Federal Funds
Sold |
$2,150,897.00 |
$1,124,645.00 |
| Loans and
Lease Receivables |
$42,376,814.00 |
$41,478,013.00 |
|
Less:
Allowance for Loan Losses
|
$407,800.00 |
$455,269.00 |
|
Net Loans
|
$41,969,014.00 |
$41,022,744.00 |
| Premises and
fixed assets |
$613,200.00 |
$542,118.00 |
| Other assets |
$546,505.00 |
$557,655.00 |
| |
| Total
Assets |
$49,540,336.00 |
$47,593,113.00 |
| |
| Liabilities |
| Deposits: |
|
|
| Non-interest
bearing |
$2,774,914.00 |
$2,657,639.00 |
| Interest
bearing |
$36,723,222.00 |
$36,791,423.00 |
| Total Deposits |
$39,498,136.00 |
$39,449,062.00 |
| Federal Funds
Purchased |
$0.00 |
$0.00 |
| Other Borrowed
Money |
$3,800,000.00 |
$1,800,000.00 |
| Other Liabilities |
$274,796.00 |
$342,319.00 |
| |
| Total
Liabilities |
$43,572,932.00 |
$41,591,381.00 |
| |
| Equity
Capital |
| Common Stock |
$1,200,000.00 |
$1,200,000.00 |
| Surplus |
$1,200,000.00 |
$1,200,000.00 |
| Undivided
Profits |
$3,567,404.00 |
$3,601,732.00 |
| |
| Total
Equity Capital |
$5,967,404.00 |
$6,001,732.00 |
| |
| Total
Liab. and Equity Capital |
$49,540,336.00 |
$47,593,113.00 |
| (Preliminary
and Unaudited) |
|
|
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| Financial
Highlights |
| (numbers are
in thousands) |
6/30/2008 |
6/30/2007 |
| Total Assets |
$49,540 |
$47,593 |
| Total Loans
(Net) |
$42,377 |
$41,478 |
| Total Deposits |
$39,498 |
$39,449 |
| Total Borrowed
Funds |
$3,800 |
$1,800 |
| Net Income |
$240 |
$255 |
| |
| Per
Share-Y.T.D.
(120,000 Shares) |
|
|
| Net
Income |
$2.00 |
$2.12 |
| Cash
Dividends (to date) |
$1.25 |
$1.25 |
| Book
Value (End of period) |
$49.73 |
$50.01 |
| Market
Value (Last sale) |
|
|
|
High
|
$125.00 |
$130.00 |
|
Low
|
$118.00 |
$120.00 |
| |
| Financial
Ratios |
| Return
on Equity |
7.95% |
8.48% |
| Return
on Assets |
.94% |
1.03% |
| Capital
to Assets |
12.05% |
12.61% |
|
|
|
|
|
|
|
|
|
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| Consolidated
Report of Income |
| |
6/30/2008 |
6/30/2007 |
|
Interest Income |
| Interest &
Fee Income on Loans |
$1,545,093.00 |
$1,562,515.00 |
| Interest on
Investments |
$89,104.00 |
$64,862.00 |
| Interest on Fed
Funds Sold |
$36,063.00 |
$76,367.00 |
| |
| Total
Interest Income |
$1,670,260.00 |
$1,703,744.00 |
| |
| Interest
Expense |
| Interest on
Demand Deposits |
$6019.00 |
$5081.00 |
| Interest on
Savings Deposits |
$22,913.00 |
$22,357.00 |
| Interest on
Time Deposits |
$463,072.00 |
$495,063.00 |
| Interest on
Borrowed Funds |
$90,975.00 |
$61,831.00 |
| |
| Total
Int. Expense |
$582,979.00 |
$584,332.00 |
| |
| Net Interest
Income |
$1,087,281.00 |
$1,119,412.00 |
| |
| Provision For
Loan Losses |
$48,000.00 |
$48,000.00 |
| |
| Non-Interest
Income |
| Service Charges
on DDA Accts. |
$107,471.00 |
$115,155.00 |
| All Other Fee
Income |
$49,298.00 |
$47,791.00 |
| |
| Total
Non-Int. Income |
$156,769.00 |
$162,946.00 |
| |
| Non-Interest
Expense |
| Salaries and
Employee Benefits |
$502,170.00 |
$512,390.00 |
| Premises and
Fixed Assets |
$84,393.00 |
$77,245.00 |
| All Other
Expense |
$262,236.00 |
$276,272.00 |
| |
| Total
Non-Int. Exp. |
$848,799.00 |
$865,907.00 |
| |
| Income (Loss)
Before Taxes |
$347,251.00 |
$368,451.00 |
| Gains or
(Loses) on Securities |
$2,526.00 |
$3,723.00 |
| Applicable
Income Taxes |
$110,238.00 |
$117,484.00 |
| Net Income |
$239,539.00 |
$254,690.00 |
| Extraordinary
Items |
$0.00 |
$0.00 |
| Net Income |
$239,539.00 |
$254,690.00 |
|
|
|
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|
