Brunswick Bancorp Reports Quarter Ending June 30, 2013 Earnings
15 July 2013 - 11:48PM
Business Wire
Brunswick Bancorp (OTCBB: BRBW):
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
BRUNSWICK BANCORP AND SUBSIDIARIES CONSOLIDATED BALANCE
SHEET JUNE 30, 2013 (UNAUDITED) ASSETS Cash and due from
banks $ 51,322,509 Federal funds sold - Total cash
and cash equivalents 51,322,509 Securities held to maturity
6,003,750 Securities available for sale 70,214 Loans receivable,
net 94,223,184 Premises and equipment, net 1,029,735 Accrued
interest receivable 299,130 Other real estate 8,733,327 Other
assets 1,134,331 TOTAL ASSETS $ 162,816,180
LIABILITIES AND STOCKHOLDERS' EQUITY Deposits Non-interest bearing
$ 31,651,436 Interest bearing 95,200,598 Total
deposits 126,852,034 Accrued interest payable 221,641 Other
liabilities 835,015 TOTAL LIABILITIES
127,908,690 STOCKHOLDERS' EQUITY
Preferred stock-no stated value 10,000,000
shares authorized and no shares issued and outstanding at June 30,
2013.
Common stock - no par value 10,000,000
shares authorized; 3,119,551 shares issued and outstanding at June
30, 2013.
6,239,102 Additional paid-in capital 1,944,611
Treasury stock at cost, 185,429 shares at
June 30, 2013.
(1,298,887 ) Retained earnings 28,489,539 Deferred stock
compensation (466,875 ) TOTAL STOCKHOLDERS' EQUITY
34,907,490 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $
162,816,180 BRUNSWICK BANCORP AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME (LOSS) QUARTER END JUNE 30, 2013
(UNAUDITED) INTEREST INCOME Interest on loans $ 2,807,281
Interest on investments 5,911 Interest on balances with banks
55,737 TOTAL INTEREST INCOME 2,868,929
INTEREST EXPENSE Interest on deposits 234,132 Interest on
borrowed funds - Total interest expense
234,132 NET INTEREST INCOME 2,634,797 Provision for loan
losses - NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES 2,634,797 OTHER INCOME Service
fees 400,145 Other income 1,179,774 TOTAL OTHER
INCOME 1,579,919 Realized loss on securities -
OTHER EXPENSES Salaries and employee benefits 1,607,173
Occupancy expenses 692,777 Equipment expenses 152,906 Other
expenses 1,403,851 TOTAL OTHER EXPENSES
3,856,707 INCOME (LOSS) BEFORE INCOME TAX EXPENSE
358,009 Income tax expense (credit) 11,000 NET INCOME
$ 347,009 NET INCOME PER SHARE OF COMMON STOCK: Basic
Earnings per share $ 0.04 Average shares
outstanding-basic 2,933,036
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