Brunswick Bankcorp Reports Quarter Ending June 30, 2012 Earnings
20 July 2012 - 6:36AM
Business Wire
Brunswick Bancorp (OTCBB:BRBW):
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
BRUNSWICK BANCORP AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET JUNE
30, 2012 (UNAUDITED) ASSETS
Cash and due from banks $ 44,347,199 Federal
funds sold - Total cash and cash equivalents
44,347,199 Securities held to maturity 3,000,000 Securities
available for sale 70,214 Loans receivable, net 95,342,948 Premises
and equipment, net 1,209,382 Accrued interest receivable 439,293
Other real estate 7,469,839 Other assets 1,641,748
TOTAL ASSETS $ 153,520,623 LIABILITIES AND STOCKHOLDERS'
EQUITY Deposits Non-interest bearing $ 29,972,722 Interest bearing
86,230,489 Total deposits 116,203,211 Accrued
interest payable 248,792 Other liabilities 296,730
TOTAL LIABILITIES 116,748,733 STOCKHOLDERS' EQUITY
Preferred stock-no stated value 10,000,000 shares authorized and no
shares issued and outstanding at June 30, 2012. Common stock - no
par value 10,000,000 shares authorized; 3,119,551 shares issued and
outstanding at June 30, 2012. 6,239,102 Additional paid-in capital
1,944,611 Treasury stock at cost, 190,598 shares at June 30, 2012.
(1,346,466 ) Retained earnings 30,469,018 Deferred stock
compensation (534,375 ) TOTAL STOCKHOLDERS' EQUITY
36,771,890 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $
153,520,623 BRUNSWICK BANCORP AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME (LOSS) QUARTER END JUNE 30, 2012
(UNAUDITED) INTEREST
INCOME Interest on loans $ 2,910,711 Interest on
investments 10,544 Interest on balances with banks 53,130
TOTAL INTEREST INCOME 2,974,385 INTEREST EXPENSE
Interest on deposits 286,987 Interest on borrowed funds -
Total interest expense 286,987 NET INTEREST INCOME 2,687,398
Provision for loan losses 17,283 NET INTEREST INCOME
AFTER PROVISION FOR LOAN LOSSES 2,670,115 OTHER
INCOME Service fees 296,857 Other income 249,154 TOTAL OTHER
INCOME 546,011 Realized loss on securities -
OTHER EXPENSES Salaries and employee benefits 1,366,333 Occupancy
expenses 607,388 Equipment expenses 83,061 Other expenses
1,041,431 TOTAL OTHER EXPENSES 3,098,213 INCOME
(LOSS) BEFORE INCOME TAX EXPENSE 117,913 Income tax expense
(credit) 9,238 NET INCOME $ 108,675 NET INCOME PER SHARE OF
COMMON STOCK: Basic Earnings per share $ 0.04 Average shares
outstanding-basic 2,926,232
Brunswick Bancorp (PK) (USOTC:BRBW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Brunswick Bancorp (PK) (USOTC:BRBW)
Historical Stock Chart
From Jul 2023 to Jul 2024