Financial Reports
STATEMENT OF EARNINGS
Year ended December 31, 2009 |
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| INTEREST INCOME |
| Loans to Members |
7,276,445 |
| Investments & Securities |
257,493
|
| Total Interest Income |
7,533,938
|
| INTEREST EXPENSE |
| Member Deposit Accounts |
2,854,222 |
| Interest on Borrowed Money |
5,344
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| Total Interest Expense |
2,859,566
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| Net Interest Income |
4,674,372 |
| Provision for Credit Losses |
10,040,150
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| Net Interest Income, After Provision for Credit Losses |
(5,365,778)
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| Service Fees and Other Income |
2,471,280
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| OPERATING EXPENSES |
| Compensation and Benefits |
3,988,690 |
| General and Administrative |
3,756,128 |
| Facilities |
889,960
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Total Operating Expense |
8,634,778
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| Non Operating Income |
(1,005,648)
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| Net Income/(Loss) |
(10,523,628)
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STATEMENT OF FINANCIAL CONDITION
Year ended December 31, 2009 |
| |
| ASSETS |
| Cash and Cash Equivalents |
14,951,327 |
| Loans to Members (net) |
124,516,451 |
| Investments in SUNCORP Corp. CU |
590,755 |
| Investments in Mortgage Backed Securities |
3,503,935 |
| Other Investments |
3,408,577 |
| Accrued Interest Receivable |
642,830 |
| Premises and Equipment (net) |
8,716,011 |
| Assets Acquired in Satisfaction of Loans |
4,839,236 |
| NCUSIF Deposit |
1,650,534 |
| Other Assets |
390,325
|
| Total Assets |
163,209,981
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| LIABILITIES AND MEMBERS' EQUITY |
| Member Deposit Accounts |
158,237,903 |
| Accrued Interest Payable |
328,942 |
| Accrued Expenses and Other Liabilities |
541,926
|
| Total Liabilities |
159,108,771
|
| Members' Equity (Undivided Earnings and Regular Reserves) |
5,258,381 |
| Accumulated Other Comprehensive Loss |
(1,157,171)
|
| Total Members' Equity |
4,101,210
|
| Total Liabilities and Members' Equity |
163,209,981
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801-484-8811
or visit our Locations page for your local branch information or use our secure e-mail for account questions. |
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