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Financials

The consolidated statement of financial condition and income - March 31, 2023

Assets

Loans $392,921,746.48
Loan Loss Reserves (1,744,945.40)
Cash & Cash on Deposit 63,065,021.86
Investment & Securities 114,130,086.43
Other Assets 43,790,272.59
Total Assets $612,162,181.96

Liabilities & Members' Equity

Payables, Borrowings, Other Liabilities $14,341,242.96
Shares & Deposits 543,722,928.60
Total Members' Equity & Capital 54,098,010.40
Total Liabilities & Members' Equity $612,162,181.96

Operating Income

Interest on Loans $4,046,503.75
Income on Investments 818,389.31
Other Income 2,192,668.27
Total Operating Income $7,057,561.33

Operating Expenses

Salaries & Benefits $3,498,448.45
Office Occupancy & Operations 606,002.50
Other Operating Expenses 1,011,673.72
Total Operating Expenses 5,116,124.67

Non-Operating Income/Expenses

Provision for Loan Losses (73,860.70)
Dividends & Interest (1,167,278.01)
Other Non-Operating Income/Expenses 66,926.24
Total Non-Operating Income/Expenses (1,174,212.47)

Net Income

Net Income $767,224.19