|
|
Financial Reports |
| Los
Angeles National Bank
Statements of Earnings
Year ended December 31, |
| |
Interest
income |
2008
|
2009
|
|
| |
Loans, including
fees
Investment securities
Federal funds sold
|
$
9,924,000
2,173,000
114,000
|
$
9,342,000
1,413,000
36,000
|
|
| |
Total interest
income
|
12,211,000 |
10,791,000 |
|
| |
Interest
expense |
|
|
|
| |
Deposits
FHLB advances
|
4,951,000
537,000
|
3,334,000
603,000
|
|
| |
Total interest
expense
|
5,488,000
|
3,937,000
|
|
| |
Net interest
income
|
6,723,000 |
6,854,000 |
|
| |
Provision
for loan losses |
329,000
|
1,458,000
|
|
| |
Net interest
income after provision for credit losses
|
6,394,000 |
5,396,000 |
|
| |
Noninterest
income |
|
|
|
| |
Service charges
on deposit accounts
|
621,000 |
771,000 |
|
| |
Net Loss on write-down of investment securities
|
(4,627,000)
|
-0-
|
|
| |
Other income
|
53,000
|
29,000
|
|
| |
Total Noninterest
income
|
(3,953,000) |
800,000 |
|
| |
Noninterest
Expense |
|
|
|
| |
Salaries, wages
and employee benefits
Occupancy
Regulatory Assessments
Data processing and professional services
Office supplies
Equipment
Director's fees
Other expense
|
2,933,000
347,000
92,000
421,000
124,000
187,000
143,000
410,000
|
2,702,000
343,000
373,000
366,000
121,000
159,000
180,000
407,000
|
|
| |
Total Noninterest
Expense
|
4,657,000
|
4,651,000
|
|
| |
Income (Loss) Before
(Benefit) Provision for Income Taxes
|
(2,216,000) |
1,545,000 |
|
| |
Provision (Benefit)
for Income Taxes |
(997,000)
|
502,000
|
|
| |
NET INCOME (LOSS)
NET INCOME (LOSS) PER SHARE - Basic and Diluted
|
$
(1,219,000)
(0.38)
|
$
1,043,000
0.33
|
|
|
|
Los
Angeles National Bank
Balance Sheets - Continued
December 31, |
| |
LIABILITIES
AND STOCKHOLDERS' EQUITY |
2008
|
2009
|
|
| |
LIABILITIES
Deposits: |
|
|
|
| |
Noninterest-bearing
Interest-bearing
|
$
18,879,000
146,427,000
|
$
16,079,000
155,887,000
|
|
| |
Total deposits
|
165,306,000 |
171,966,000 |
|
| |
Federal
Home Loan Bank advances
Accrued interest payable and other liabilities |
24,000,000
1,059,000
|
13,000,000
1,011,000
|
|
| |
Total Liabilities
|
190,365,000 |
185,977,000 |
|
| |
COMMITMENTS AND CONTINGENCIES (NOTE 9)
Stockholders' Equity: |
|
|
|
| |
Common stock - 10,000,000 shares authorized;
$3 par value; issued and outstanding
3,208,868 shares in 2008 and 2009
Paid in capital
Retained earnings
Accumulated other comprehensive income (loss)
|
9,627,000
7,775,000
7,808,000
143,000
|
9,627,000
7,863,000
8,635,000
185,000
|
|
| |
Total Stockholders'
Equity
|
25,353,000
|
26,310,000
|
|
| |
Total Liabilities
and Stockholders' Equity
|
$
215,718,000
|
$
212,287,000
|
|
| |
|
Los Angeles
National Bank
Balance Sheets
December 31,
|
| |
ASSETS |
2008
|
2009
|
|
| |
Cash and
due from banks
Federal funds sold |
$
3,934,000
8,340,000
|
$
3,331,000
11,930,000
|
|
| |
Cash and
Cash Equivalents
|
12,274,000 |
|
|
| |
Investment
securities available-for-sale
Investment securities available-for-sale
Interest bearing deposits in other financial institutions
Federal Reserve Bank (FRB) stock, at cost
Federal Home Loan Bank (FHLB) stock, at cost
Loans, net
Premises and equipment, net
Other real estate owned (OREO)
Accrued interest receivable
Deferred income tax asset
Other assets |
35,410,000
-0-
516,000
1,326,000
159,912,000
1,725,000
1,089,000
875,000
2,254,000
337,000
|
25,528,000
2,494,000
522,000
1,326,000
159,775,000
1,556,000
1,089,000
663,000
2,698,000
1,375,000
|
|
| |
Total assets
|
$215,718,000
|
$
212,287,000
|
|
| |
|
