|
|
Financial Reports |
| Los
Angeles National Bank
Statements of Earnings
Year ended December 31, |
| |
Interest
income |
2006
|
2007
|
|
| |
Loans, including
fees
Investment securities
Federal funds sold
|
$
11,696,000
1,904,000
611,000
|
$
10,387,000
2,663,000
746,000
|
|
| |
Total interest
income
|
14,211,000 |
13,796,000 |
|
| |
Interest
expense |
|
|
|
| |
Deposits
FHLB advances
|
4,814,000
326,000
|
5,976,000
410,000
|
|
| |
Total interest
expense
|
5,140,000
|
6,386,000
|
|
| |
Net interest
income
|
9,071,000 |
7,410,000 |
|
| |
Provision
for loan losses |
-0-
|
-0-
|
|
| |
Net interest
income after provision for credit losses
|
9,071,000 |
7,410,000 |
|
| |
Other
operating income |
|
|
|
| |
Service charges
on deposit accounts
|
361,000 |
682,000 |
|
| |
Other
|
297,000
|
58,000
|
|
| |
Total other
operating income
|
658,000 |
740,000 |
|
| |
Other
operating expenses |
|
|
|
| |
Salaries, wages
and employee benefits
Occupancy
Data processing and professional services
Office supplies
Equipment
Other
|
2,950,000
267,000
594,000
132,000
192,000
569,000
|
2,977,000
322,000
428,000
130,000
210,000
580,000
|
|
| |
Total operating
expenses
|
4,704,000
|
4,647,000
|
|
| |
Income before
income taxes
|
5,025,000 |
3,503,000 |
|
| |
Provision
for income taxes |
2,046,000
|
1,341,000
|
|
| |
NET INCOME
|
$
2,979,000
|
$
2,162,000
|
|
|
|
Los
Angeles National Bank
Balance Sheets - Continued
December 31, |
| |
LIABILITIES
AND STOCKHOLDERS' EQUITY |
2006
|
2007
|
|
| |
Deposits |
|
|
|
| |
Noninterest-bearing
Interest-bearing
|
$
20,041,000
139,699,000
|
$
17,752,000
148,492,000
|
|
| |
Total deposits
|
159,740,000 |
166,244,000 |
|
| |
Federal
Home Loan Bank advances
Accrued interest payable and other liabilities |
8,000,000
920,000
|
9,000,000
1,061,000
|
|
| |
Total liabilities
|
168,660,000 |
176,305,000 |
|
| |
Stockholders'
equity |
|
|
|
| |
Common stock, par
value $3 per share; authorized,
10,000,000 shares;
issued and outstanding,
3,216,781 and 3,208,868 shares in
2006 and 2007, respectively
Paid-in capital
Retained earnings
Accumulated other comprehensive (loss) income
|
9,650,000
7,383,000
8,132,000
(98,000)
|
9,627,000
7,588,000
9,664,000
(677,000)
|
|
| |
Total stockholders'
equity
|
25,067,000
|
26,202,000
|
|
| |
Total liabilities
and stockholders' equity
|
$
193,727,000
|
$
202,507,000
|
|
| |
|
Los Angeles
National Bank
Balance Sheets
December 31,
|
| |
ASSETS |
2006
|
2007
|
|
| |
Cash and
due from banks
Federal funds sold |
$
3,649,000
15,630,000
|
$
3,836,000
6,655,000
|
|
| |
Total cash and
cash equivalents
|
19,279,000 |
|
|
| |
Investment
securities available-for-sale
Loans, net
Federal Reserve Bank (FRB) stock, at cost
Federal Home Loan Bank (FHLB) stock, at cost
Premises and equipment, net
Accrued interest receivable
Deferred income tax asset
Other assets |
43,464,000
125,595,000
502,000
1,195,000
1,929,000
1,054,000
525,000
184,000
|
48,439,000
137,767,000
511,000
1,259,000
1,814,000
1,072,000
916,000
238,000
|
|
| |
Total assets
|
$193,727,000
|
$
202,507,000
|
|
| |
|
