| INTEREST INCOME: 2010 2011 | ||
Interest on Loans |
$ 506,404.30 | $ 514,735.33 |
Income on Investments |
$ 210,864.44 | $ 136,970.56 |
Misc. Operating |
$ 61,003.61 | $ 69,452.04 |
|
TOTAL
|
$ 778,272.35 | $ 721,157.93 |
| NON-OPERATING INCOME/EXPENSE: | ||
NCUA Impairment Refund |
$ 0.00 | $ 0.00 |
Membership Capital Depletion |
( $38,880.62) | ( $38,235.74) |
|
TOTAL
|
( $38,880.62) | ( $38,235.74) |
| TOTAL INCOME | $ 739,391.73 | $ 682,922.19 |
| DIVIDENDS | $ 216,295.47 | $ 158,896.20 |
| OPERATING EXPENSES: | ||
Employee Compensation |
$ 162,573.93 | $ 168,565.24 |
Employee Benefits |
$ 56,625.71 | $ 56,486.53 |
Association Dues |
$ 9,903.73 | $ 10,703.00 |
Office Operations |
$ 90,183.59 | $ 95,275.29 |
Travel/Conference Expense |
$ 1,273.00 | $ 1,528.10 |
Rent |
$ 4,692.00 | $ 4,692.00 |
Educational/Promotional |
$ 4,473.70 | $ 5,343.36 |
Member Insurance |
$ 45,815.14 | $ 29,289.37 |
Provisions for Loan Loss |
$ 16,000.00 | $ 13,000.00 |
Operating Fees (Exam & Supervisory) |
$ 4,101.95 | $ 5,235.82 |
Loan Servicing |
$ 5,781.02 | $ 5,684.88 |
Furniture/Equipment Depreciation |
$ 13,105.54 | $ 868.79 |
Share Draft Expense |
$ 1,010.90 | $ 535.18 |
Misc. Operating |
$ 699.50 | $ 513.32 |
Professional & Outside Service |
$ 6,050.00 | $ 8,037.50 |
Insurance Expense |
$ 9,302.00 | $ 10,152.00 |
Property Taxes (Personal) |
$ 134.14 | $ 253.25 |
Cash Over & Short |
$ 98.75 | $ 9.98 |
|
TOTAL EXPENSES |
$ 431,824.60 | $ 416,173.61 |
| NET INCOME | $ 91,271.66 | $ 107,852.38 |
|
TOTAL NUMBERS:
|
||
Members |
2542 | 2542 |
Debit Cards |
323 | 335 |
Loans Processed for Year |
872 | 912 |
|
TOTAL DOLLARS:
|
||
Loans |
$ 7,000,480.48 | $ 6,990,833.15 |
Shares |
$ 6,868,482.94 | $ 7,338,002.23 |
Certificates of Deposit |
$ 8,256,649.87 | $ 8,199,701.39 |
Share Drafts |
$ 570,138.10 | $ 607,511.61 |
| REGULAR RESERVE | $ 184,938.49 | $ 184,938.49 |
| UNDIVIDED EARNINGS | $ 2,489,627.71 | $ 2,597,480.09 |
| TOTAL ASSETS | $ 18,416,510.64 | $18,966,203.77 |
|
CAPITAL RATIO
|
14.68% | 14.87% |
| CHARGE OFFS | $ 43,111.31 | $ 11,522.18 |
| CHARGE OFF RECOVERY | $ 12,321.80 | $ 6,102.00 |