Financial Statement
| Description | December 2023 | December 2022 Balance |
|---|---|---|
| ASSETS....................................... | ||
| Cash | 1,576,646.73 | 1,329,249.68 |
| Investments | 18,828,074.24 | 26,165,459.96 |
| Personal Loans | 47,561,363.52 | 46,497,828.26 |
| Student Loans | 0.00 | 0.00 |
| Businesss Loans | 88,511.53 | 116,497.31 |
| Deferred Gain | 0.00 | 0.00 |
| Real Estate Loans | 17,825,812.94 | 16,636,310.36 |
| Total Loans | 65,475,687.99 | 63,250,635.93 |
| Allowance for Loan Losses | (340,033.00) | (103,711.30) |
| Furniture Fix & Equip | 298,915.19 | 89,825.35 |
| Office Space - Building | 2,069,307.73 | 2,120,496.61 |
| Other Prepaid Expenses | 322,216.10 | 305,677.18 |
| Accrued Income | 183,647.10 | 134,620.86 |
| All Other Assets | 678,263.85 | 759,972.59 |
| TOTAL ASSETS | 89,092,698.93 | 94,052,226.86 |
| LIABILITIES....................................... | ||
| Taxes and Benefits Pay | 1,576.95 | 371.16 |
| Current Liabilities | (1,896.29) | 280,719.56 |
| Accrued Expenses | 229,763.27 | 182,089.00 |
| Deferred Income | 0.00 | 0.00 |
| Total Certificates | 7,269.189.57 | 4,717,359.03 |
| Total Shares | 70,413,567.24 | 78,524,846.74 |
| Total IRA | 2,671,189.57 | 2,185,769.27 |
| Shares and CDs | 70,413,567.24 | 85,427,975.04 |
| Regular Reserves | 7,319,256.51 | 7,319,256.51 |
| Undiv. Earnings SP. Res | 1,189,607.13 | 814,815.59 |
| Net Gain | 0.00 | 0.00 |
| TOTAL LIABILITIES | 89,092,698.93 | 94,052,226.86 |
| NET INCOME (LOSS) | 0.00 | 0.00 |
| TOTAL LIABILITIES AND CAPITAL | 89,092,698.93 | 94,052,226.86 |
| Description | December 2023 | December 2022 |
|---|---|---|
| INCOME....................................... | ||
| Personal Loan Income | 2,253,557.83 | 1,712,811.31 |
| Student Loan Income | 0.00 | 0.00 |
| Business Loan Income | 5,980.31 | 19,634.53 |
| Real Estate Loan Income | 775,002.77 | 655,885.51 |
| Accrued Loan Income | 44,967.93 | 18,933.14 |
| Interest Income | 3,079,508.84 | 2,407,264.49 |
| Income on Investments | 270,186.10 | 227,817.55 |
| Other Earnings | 728,212.68 | 746,834.47 |
| Nonoperating Income | 15,474.94 | 9,983.04 |
| TOTAL INCOME | 4,093,382.56 | 3,391,899.55 |
| EXPENSE.................................... | ||
| Cost Acqui. of Funds | 308,256.67 | 15,364.49 |
| Payroll & Benefits | 1,694,450.33 | 1,530,522.00 |
| Insurance | 40,218.71 | 32,142.12 |
| Educational & Promotion | 103,303.22 | 87,931.93 |
| Cost of space occupied | 180,275.52 | 180,988.87 |
| Office operations | 187,250.52 | 172,904.58 |
| Depreciation & Amortize | 82,424.25 | 106,399.00 |
| All other expenses | 1,071,693.98 | 904,148.22 |
| TOTAL EXPENSE | 3,667,873.40 | 3,030,401.11 |
| NET INCOME (LOSS) | 425,509.16 | 361,498.44 |