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Financials

The consolidated statement of financial condition and income - December 31, 2022

Assets

Loans $379,201,603.02
Loan Loss Reserves (1,393,565.68)
Cash & Cash on Deposit 44,458,795.97
Investment & Securities 120,416,614.89
Other Assets 43,096,799.96
Total Assets $585,780,248.16

Liabilities & Members' Equity

Payables, Borrowings, Other Liabilities $15,434,346.66
Shares & Deposits 517,499,493.47
Total Members' Equity & Capital 52,846,408.03
Total Liabilities & Members' Equity $585,780,248.16

Operating Income

Interest on Loans $13,434,928.32
Income on Investments 2,669,363.97
Other Income 10,109,596.47
Total Operating Income $26,213,888.76

Operating Expenses

Salaries & Benefits $12,467,320.92
Office Occupancy & Operations 2,397,405.49
Other Operating Expenses 4,299,611.46
Total Operating Expenses 19,164,337.87

Non-Operating Income/Expenses

Provision for Loan Losses 75,000.00
Dividends & Interest (2,254,371.54)
Other Non-Operating Income/Expenses 273,641.75
Total Non-Operating Income/Expenses (1,905,729.79)

Net Income

Net Income $5,143,821.10