The New |
New Independent |
||||
New Independent |
Washington |
Title and |
New Independent |
||
Bancshares, Inc. |
State Bank |
Insurance Co. |
Investments, Inc. |
Eliminations |
Consolidated |
Cash and Due from Banks |
$ |
2,656,136 |
$ |
47,184,847 |
$ |
61,285 |
$ |
3,922,067 |
$ |
( 2,717,421) |
$ |
51,106,914 |
Federal Funds Sold |
- |
1,236,669 |
- |
- |
- |
1,236,669 |
||||||
Interest-Bearing Time Deposits |
- |
200,000 |
- |
- |
- |
200,000 |
||||||
Investment in Subsidiary |
71,309,701 |
157,671,245 |
- |
- |
( 228,980,946) |
- |
||||||
Investment Securities |
- |
13,022,277 |
- |
151,382,302 |
- |
164,404,579 |
||||||
Loans: Loans |
- |
502,943,967 |
- |
- |
- |
502,943,967 |
||||||
Less: Allowance for Credit Loss |
- |
( 6,542,330) |
- |
- |
- |
( 6,542,330) |
Net Loans |
- |
496,401,637 |
- |
- |
- |
496,401,637 |
|||||
FHLB Stock- Restricted |
- |
1,165,500 |
- |
- |
- |
1,165,500 |
|||||
Premises and Equipment |
- |
10,157,930 |
- |
- |
- |
10,157,930 |
|||||
Operating Lease ROU Assets |
- |
4,368,403 |
- |
- |
- |
4,368,403 |
|||||
Bank Owned Life Insurance |
- |
18,597,242 |
- |
- |
- |
18,597,242 |
|||||
Accrued Interest Receivable |
- |
2,489,742 |
- |
904,539 |
- |
3,394,281 |
|||||
Core Deposit Intangible |
- |
1,820,089 |
- |
- |
1,820,089 |
||||||
Goodwill |
- |
6,025,029 |
- |
- |
6,025,029 |
||||||
Deferred Tax Assets |
220,399 |
1,025,034 |
- |
1,868,080 |
- |
3,113,513 |
|||||
Other Assets |
463,934 |
1,125,293 |
- |
- |
( 463,934) |
1,125,293 |
|||||
Total Assets |
$ |
74,650,170 |
$ |
762,490,937 |
$ |
61,285 |
$ |
158,076,988 |
$
( 232,162,301)
|
$ |
763,117,079 |
Liabilities Deposits |
$ |
- |
$ |
682,569,126 |
$ |
- |
$ |
- |
$ |
( 2,717,421) |
$ |
679,851,705 |
Other Borrowings |
9,625,000 |
- |
- |
- |
- |
9,625,000 |
||||||
Subordinated Debt |
10,000,000 |
- |
- |
- |
- |
10,000,000 |
||||||
Operating Lease Liability |
- |
4,448,553 |
- |
- |
- |
4,448,553 |
||||||
Reserve for Unfunded Commitments |
- |
571,944 |
- |
- |
- |
571,944 |
||||||
Accrued Interest & Other Liabilities |
463,934 |
3,591,613 |
41,285 |
425,743 |
( 463,934) |
4,058,641 |
Stockholders ' Equity Common Stock |
2,577,410 |
800,000 |
20,000 |
- |
( 820,000) |
2,577,410 |
|
Surplus |
11,736,797 |
31,445,025 |
- |
- |
( 31,445,025) |
11,736,797 |
|
Retained Earnings |
$ |
50,046,024 |
48,863,671 |
- |
167,450,240 |
( 216,313,911) |
50,046,024 |
Accum. Other Comprehensive Loss |
( 9,798,995) |
( 9,798,995) |
- |
( 9,798,995) |
19,597,990 |
( 9,798,995) |
|
Total Stockholders ' Equity |
54,561,236 |
71,309,701 |
20,000 |
157,651,245 |
( 228,980,946) |
54,561,236 |
Total Liabilities and |
|||||||||||
Stockholders ' Equity |
$ |
74,650,170 |
$ |
762,490,937 |
$ |
61,285 |
$ |
158,076,988 |
$
( 232,162,301)
|
$ |
763,117,079 |