BALANCE SHEET
June 30, 2008 (Unaudited) (000)
6/30/2008 6/30/2007
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ASSETS
Cash and Due from Banks $ 5,790 $ 9,187
Federal Funds Sold 935 2,970
Investment Securities 7,682 7,451
Loans (net) 103,293 84,983
Other Assets 6,140 3,012
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Total Assets $ 123,840 $ 107,603
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LIABILITIES & SHAREHOLDERS' EQUITY
Demand Deposits $ 35,560 $ 35,377
Money Market and NOW Accounts 20,488 28,649
Savings Accounts 4,133 4,134
Time Deposits Under $100,000 20,167 9,532
Time Deposits $100,000 and Over 10,402 11,550
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Total Deposits 90,750 89,242
FHLB Borrowings 17,000 3,000
Other Liabilities 814 479
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Total Liabilities 108,564 92,721
Total Equity 15,276 14,882
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Total Liabilities and Equity $ 123,840 $ 107,603
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STATEMENT OF EARNINGS
June 30, 2008 (Unaudited)
(000)
6/30/2008 6/30/2007
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Interest Income $ 4,073 $ 4,479
Interest Expense 878 840
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Net Interest Income 3,195 3,639
Provision for Loan Loss 219 107
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Net Interest Income after Provision 2,976 3,532
Non Interest Income 453 463
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Total Operating Income 3,429 3,995
Total Non Interest Expense 3,235 3,377
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Net Income Before Tax & Extraordinary 194 618
Tax and Extraordinary Items 76 239
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Net Income (Loss) $ 118 $ 379
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RATIOS - Annualized 6/30/2008 6/30/2007
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Earnings Per Share $ 0.16 $ 0.51
Book Value Per Share $ 10.29 $ 10.10
Return on Assets 0.19% 0.69%
Return on Equity 1.55% 5.10%
Contact Information: Media Contact: John Nerland President & CEO (805) 413-0111