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Bank Financial Statement

MILLVILLE SAVINGS AND LOAN ASSOCIATION CONSOLIDATED BALANCE SHEET

For the period ending December 31,
  2008 2007
 
ASSETS
Cash and due from banks $4,313,188 $3,751,024
Interest-bearing deposits with other institutions 4,395,704 799,669
Cash and cash equivalents 8,708,892 4,550,693
 
Investment securities available for sale 19,306,357 -
Investment securities held to maturity (estimated market value of $6,902,265 and $28,434,291) 6,800,385 28,546,233
Mortgage-backed securities available for sale 6,763,731 -
Mortgage-backed securities held to maturity (estimated market value of $13,948,408 and $18,491,957) 13,845,557 18,757,581
Loans receivable (net of allowance for loan losses of $401,108 and $374,000) 46,525,453 46,482,559
Accrued Interest receivable 555,597 509,970
Federal Home Loan Bank stock 124,700 132,500
Premises and equipment 1,926,053 1,974,200
Other assets 257,473 241,154
 
TOTAL ASSETS $104,814,198 $101,194,890
 
 
LIABILITIES AND RETAINED EARNINGS
Deposits $90,450,818 $87,059,075
Advances by borrowers for taxes and insurance 309,205 212,239
Accrued interest payable 85,161 97,056
Other liabilities 224,737 314,836
 
TOTAL LIABILITIES 91,069,921 87,683,206
 
Retained earnings 14,069,848 13,511,684
Accumulated other comprehensive loss (325,571) -
 
  13,744,277 13,511,684
 
TOTAL LIABILITIES AND RETAINED EARNINGS $104,814,198 $101,194,890

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