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Financial Statement

Assets December 31, 2015 December 31, 2016
Cash $125,313 $177,580
Liquidity and Investments $98,601,665 $85,610,113
Mortgage Loans $212,780,159 $221,660,999
Investments in Real Estate $42,345,641 $32,391,989
Federal Home Loan Bank Stock $1,715,500 $1,673,200
Property and Equipment $1,822,509 $2,014,585
Accrued Interest Receivable $958,974 $1,026,584
Prepaid Expenses and Other Assets $735,083 $817,543
Total Assets $359,084,844 $345,372,585
Liabilities and Stockholders’ Equity December 31, 2015 December 31, 2016
Deposits $263,223,393 $246,178,776
Federal Home Loan Bank Advances $30,000,000 $30,000,000
Mortgage Escrow Accounts $1,381,182 $1,367,845
Accrued Interest Payable $197,697 $169,800
Accrued Expenses and Other Liabilities $4,228,368 $3,561,032
Total Liabilities $299,030,640 $281,277,453
Total Stockholders’ Equity (1) $60,054,204 $64,095,132
Total Liabilities and Stockholders’ Equity $359,084,844 $345,372,585

(1) The table below reconciles stockholders’ equity, as presented in accordance with generally accepted accounting principles, with core and total capital, and as a percentage of adjusted total assets and risk-weighted assets, respectively.

The Federal Deposit Insurance Corporation (FDIC), an agency of the U.S. Government, insures all depositors’ savings up to $250,000 in accordance with the rules and regulations of the FDIC.

December 31, 2016 Core Capital Percentage(%)
Stockholders’ Equity $64,095,132 18.50%
General Valuation Allowance 0.00%
Fully Capitalized Items 0.00%
Excluded Portion of Investments in Subsidiaries 0.00%
Total $64,095,132 18.50%
Required Minimum ($13,867,543) (4.00%)
Excess Capital $50,227,589 14.50%

Regulatory Capital is the basis by which the Office of the Comptroller of the Currency determines whether an institution is solvent and whether an institution is meeting its regulatory capital requirements.