Presidential Bank, FSB

Consolidated Statement of Condition
Fiscal Year-End March 31, 2003

Cash and due from banks $6,916,486
Federal funds sold 37,191,775
Investment securities - available-for-sale 282,919
Investment securities - held-to-maturity 4,071,902
Loans held for sale 74,512,188
Loans and leases receivable, net 190,519,287
Accrued interest receivable 1,307,082
Federal home loan bank stock, at cost 1,427,500
Bank premises and equipment, net 991,699
Deferred income taxes 261,692
Other assets 1,623,074
Total assets $319,105,604

Liabilities and Equity
Deposits $250,889,320
Federal home loan bank advances 15,000,000
Mortgage funding and cashiers' checks outstanding 24,473,317
Advance payments from borrowers for taxes and insurance 709,486
Income taxes payable 1,071,604
Accrued expenses and other liabilities 2,060,450
Total liabilities $294,204,177
Minor interest in subsidiary 645,961
Shareholders' equity
Capital stock ($1.00 par value) 428,829
Additional paid-in capital 6,381,193
Retained earnings 17,445,444
Total shareholders' equity $24,255,466
Total liabilities and shareholders' equity $319,105,604

NOTE: This statement has been prepared in accordance with the regulatory requirements of the Office of Thrift Supervision (OTS). Tangible, Core, and Total Capital are the elements of regulatory capital determined under such reporting requirements. Regulatory capital is the basis by which the OTS determines whether a savings association is operating in a safe and sound manner. As of March 31, 2003, Presidential Bank, FSB was in the "well capitalized" category as defined by OTS, with Core and Tangible Capital of $24,901,428 and Total Capital of $25,864,367, compared to the applicable minimum regulatory requirements of $4,782,577 for Tangible Capital, $12,753,540 for Core Capital, and $16,923,689 for Total Capital.

Last Modifications: 10/22/2015 12:48:49 PM