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INDEBANCORP AND SUBSIDIARY
Indebancorp Consolidated Balance Sheets
December 31, 2010 and 2009
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| ASSETS |
2010 |
2009 |
| Cash and due from banks |
$ 7,218,399 |
$ 3,565,957 |
| Interest-bearing demand deposits |
126,526 |
120,675 |
| Federal funds sold |
389,000 |
136,000 |
| Cash and cash equivalents |
7,733,925 |
3,822,632 |
| Investment securities, available for sale |
39,535,857 |
41,472,431 |
| Loans held for sale |
208,100 |
738,000 |
| Loans, net of allowance for loan losses of $1,502,779 and $1,363,703 |
140,125,780 |
127,342,243 |
| Premises and equipment |
2,906,051 |
2,965,658 |
| Federal Reserve and Federal Home Loan Bank stock |
952,300 |
952,300 |
| Interest receivable |
721,385 |
736,778 |
| Insurance contracts |
5,107,869 |
4,934,742 |
| Foreclosed assets held for sale, net |
519,477 |
466,103 |
| Other assets |
1,805,431 |
1,640,810 |
| Total Assets |
$199,616,175 |
$185,071,697 |
| LIABILITIES AND STOCKHOLDER'S EQUITY |
| Deposits |
| Noninterest bearing |
$ 29,892,008 |
$ 24,310,046 |
| Interest bearing |
137,968,867 |
125,181,205 |
| Total deposits |
167,860,875 |
149,491,251 |
| Short-term borrowings |
---- |
---- |
| Long-term borrowings |
11,000,000 |
16,000,000 |
| Interest payable |
251,189 |
262,146 |
| Other Liabilities |
2,164,543 |
1,801,766 |
| Total Liabilities |
$181,276,607 |
$167,555,163 |
| STOCKHOLDERS' EQUITY |
| Common stock, without par value |
| Authorized, 750,000 shares |
| Issued and outstanding, 498,932 and 507,372 shares |
1,232,456 |
1,232,456 |
| Surplus |
-------------- |
-------------- |
| Retained earnings |
17,092,023 |
16,048,718 |
| Accumulated other comprehensive income |
15,089 |
235,360 |
| Total Stockholders' Equity |
$ 18,339,568 |
$ 17,516,534 |
| Total Liabilities and Stockholder's Equity |
$199,616,175 |
$185,071,697 |
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