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Presidential Bank, FSB

Consolidated Statement of ConditionFiscal Year-End March 31, 2014

Assets

Cash and cash equivalents

$211,711,962

Federal funds sold

120,824

Investment securities - held-to-maturity

38,849,883

Investment securities - available-for-sale 

12,128,737

Mortgage loans held for sale

55,585,895

Loans receivable, net

210,214,550

Accrued interest receivable

1,324,136

Federal home loan bank stock, at cost

499,000

Bank premises and equipment, net

2,953,565

Deferred income taxes

3,503,749

Income taxes receivable

2,350,007

Other real estate owned, net

5,147,490

Other assets

4,562,721

Total assets

$548,952,519


Liabilities and Equity

Deposits

$486,524,615

Mortgage funding and cashiers' checks outstanding

4,476,991

Advance payments from borrowers for taxes and insurance

1,179,158

Accrued expenses and other liabilities

7,186,917

Total liabilities

$499,367,681

Shareholders' equity

Capital stock ($1.00 par value)

428,829

Additional paid-in capital

6,381,193

Retained earnings

41,533,977

Accumulated other comprehensive loss

(946)

Total shareholders' equity

$48,343,053

Non-controlling Interests

1,241,785

Total equity

49,577,610

Total liabilities and equity

$548,952,519

  

NOTE: This statement has been prepared in accordance with the regulatory requirements of the Office of the Comptroller of the Currency (OCC). Tangible, Core, and Total Capital are the elements of regulatory capital determined under such reporting requirements. Regulatory capital is the basis by which the OCC determines whether a savings association is operating in a safe and sound manner. As of March 31, 2014, Presidential Bank's capital levels continue to exceed all regulatory minimums, with Core and Tangible Capital of $49,584,838 and Total Capital of $52,370,804.

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