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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

15,261,000

 
  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

 
 

 

 

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