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Balance Sheet Comparison

ASSETS

Dec. 2020 Dec. 2021
Cash and Due from Banks $ 29,858,007 $ 27,575,053
Interest Bearing Deposits with Banks $ 27,286,525 $ 50,650,491
Federal Funds Sold $ 15,250,000 $ 15,250,000
Investment Securities- Taxable $ 96,762,717 $187,034,924
Investment Securities- Tax-Exempt $ 109,069,532 $116,126,675
Loans (net of unearned income) $ 896,652,916 $ 980,992,032
Less: Allowance for loan losses ($12,254,013) ($14,417,430)
Premises and Equipment, Net $ 25,446,185 $ 30,791,595
Accrued Interest Receivable $ 7,509,243 $ 7,346,054
Other Real Estate Owned $358,470 $112,550
Other Assets $ 29,139,597 $35,743,198
TOTAL ASSETS $1,225,079,179 $1,437,205,143

LIABILITIES

Dec. 2020 Dec. 2021
Non-Interest Bearing Deposits $351,800,706 $471,058,660
Interest Bearing Demand Deposits $310,808,106 $394,401,298
Savings and Money Market Deposits $181,758,602 $203,777,447
Time Deposits – Retail $245,792,460 $230,646,653
Time Deposits – Wholesale $220,306 $0
TOTAL DEPOSITS $1,090,380,180 $1,299,884,058
Accrued Expenses and Other Liabilities $13,236,057 $9,417,013
FHLB Advances $306,998 $248,209
Other Borrowings $3,566,906 $3,790,832
TOTAL LIABILITIES $1,107,490,141 $1,313,340,112

EQUITY

Dec. 2020 Dec. 2021
Common Stock $328,478 $328,478
Capital Surplus $77,211,196 $77,211,196
Retained Earnings $18,639,560 $22,931,747
Accumulated Other Comprehensive Income (Loss) $2,665,389 $206,602
Net Income $18,744,415 $23,187,009
TOTAL EQUITY $117,589,038 $123,865,031
TOTAL LIABILITIES & EQUITY $1,225,079,179 $1,437,205,143

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