Financial Reports
STATEMENT OF EARNINGS
Year ended December 31, 2007 |
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| INTEREST INCOME |
| Loans to Members |
11,660,429 |
| Investments & Securities |
687,559 |
| |
12,347,988 |
| INTEREST EXPENSE |
| Member Deposit Accounts |
5,247,838 |
| Interest on Borrowed Money |
19,578 |
| Net Interest Income |
7,080,572 |
| Provision for Credit Losses |
360,000 |
| Net Interest Income, After Provision for Credit Losses |
6,720,572 |
| Service Fees and Other Income |
3,068,436
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| OPERATING EXPENSES |
| Compensation and Benefits |
4,440,834 |
| General and Administrative |
3,209,548 |
| Facilities |
757,044 |
Total Operating Expense |
8,407,426 |
| Net Earnings |
1,381,582 |
STATEMENT OF FINANCIAL CONDITION
Year ended December 31, 2007 |
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| ASSETS |
| Cash and Cash Equivalents |
9,008,294 |
| Loans to Members (net) |
157,298,311 |
| Investments in SUNCORP Corp. CU |
721,560 |
| Investments in Mortgage Backed Securities |
5,761,961 |
| Other Investments |
1,782,086 |
| Accrued Interest Receivable |
2,478,515 |
| Premises and Equipment (net) |
6,548,028 |
| Assets Acquired in Satisfaction of Loans |
226,658 |
| NCUSIF Deposit |
1,544,532 |
| Other Assets |
313,614 |
| Total Assets |
185,683,559
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| LIABILITIES AND MEMBERS' EQUITY |
| Member Deposit Accounts |
168,126,968 |
| Accrued Interest Payable |
481,917 |
| Accrued Expenses and Other Liabilities |
713,921 |
| Total Liabilities |
169,322,806 |
| Members' Equity (Undivided Earnings and Regular Reserves) |
17,239,563 |
| Accumulated Other Comprehensive Loss |
(878,810) |
| Total Members' Equity |
16,360,753 |
| Total Liabilities and Members' Equity |
185,683,559 |
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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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