|
|
Financial Reports |
| Los
Angeles National Bank
Statements of Earnings
Year ended December 31, |
| |
Interest
income |
2008
|
2007
|
|
| |
Loans, including
fees
Investment securities
Federal funds sold
|
$
9,924,000
2,173,000
114,000
|
$
10,387,000
2,663,000
746,000
|
|
| |
Total interest
income
|
12,211,000 |
13,796,000 |
|
| |
Interest
expense |
|
|
|
| |
Deposits
FHLB advances
|
4,951,000
537,000
|
5,976,000
410,000
|
|
| |
Total interest
expense
|
5,488,000
|
6,386,000
|
|
| |
Net interest
income
|
6,723,000 |
7,410,000 |
|
| |
Provision
for loan losses |
329,000
|
-0-
|
|
| |
Net interest
income after provision for credit losses
|
6,394,000 |
7,410,000 |
|
| |
Noninterest
income |
|
|
|
| |
Service charges
on deposit accounts
|
621,000 |
682,000 |
|
| |
Net Loss on write-down of investment securities
|
(4,627,000)
|
-0-
|
|
| |
Other income
|
53,000
|
58,000
|
|
| |
Total Noninterest
income
|
(3,953,000) |
740,000 |
|
| |
Noninterest
Expense |
|
|
|
| |
Salaries, wages
and employee benefits
Occupancy
Data processing and professional services
Office supplies
Equipment
Director's fees
Other expense
|
2,933,000
347,000
421,000
124,000
187,000
143,000
502,000
|
2,977,000
322,000
428,000
130,000
210,000
142,000
438,000
|
|
| |
Total Noninterest
Expense
|
4,657,000
|
4,647,000
|
|
| |
(Loss) Income Before
(Benefit) Provision for Income Taxes
|
(2,216,000) |
3,503,000 |
|
| |
(Benefit) Provision
for Income Taxes |
(997,000)
|
1,341,000
|
|
| |
NET (LOSS) INCOME
|
$
(1,219,000)
|
$
2,162,000
|
|
|
|
Los
Angeles National Bank
Balance Sheets - Continued
December 31, |
| |
LIABILITIES
AND STOCKHOLDERS' EQUITY |
2008
|
2007
|
|
| |
Deposits |
|
|
|
| |
Noninterest-bearing
Interest-bearing
|
$
18,879,000
146,427,000
|
$
17,752,000
148,492,000
|
|
| |
Total deposits
|
165,306,000 |
166,244,000 |
|
| |
Federal
Home Loan Bank advances
Accrued interest payable and other liabilities |
24,000,000
1,059,000
|
9,000,000
1,061,000
|
|
| |
Total Liabilities
|
190,365,000 |
176,305,000 |
|
| |
Stockholders'
equity |
|
|
|
| |
Common stock, par
value $3 per share; authorized,
10,000,000 shares;
issued and outstanding,
3,208,868 shares in
2008 and 2007
Paid in capital
Retained earnings
Accumulated other comprehensive income (loss)
|
9,627,000
7,775,000
7,808,000
143,000
|
9,627,000
7,588,000
9,664,000
(677,000)
|
|
| |
Total Stockholders'
Equity
|
25,353,000
|
26,202,000
|
|
| |
Total Liabilities
and Stockholders' Equity
|
$
215,718,000
|
$
202,507,000
|
|
| |
|
Los Angeles
National Bank
Balance Sheets
December 31,
|
| |
ASSETS |
2008
|
2007
|
|
| |
Cash and
due from banks
Federal funds sold |
$
3,934,000
8,340,000
|
$
3,836,000
6,655,000
|
|
| |
Total Cash and
Cash Equivalents
|
12,274,000 |
|
|
| |
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
Other real estate owned (OREO)
Accrued interest receivable
Deferred income tax asset
Other assets |
35,410,000
159,912,000
516,000
1,326,000
1,725,000
1,089,000
875,000
2,254,000
337,000
|
48,439,000
137,767,000
511,000
1,259,000
1,814,000
-0-
1,072,000
916,000
238,000
|
|
| |
Total assets
|
$215,718,000
|
$
202,507,000
|
|
| |
|
