             |
Click
to jump to: Statement of Condition | Income
Statement
Consolidated
Statement of Condition
Mascoma Mutual Financial Services Corp.
| ASSETS |
December 31 , 2007
|
December 31, 2006
|
|
|
|
| Cash
and Cash Equivalents |
$17,527,701 |
$15,610,106 |
| U.S.
Government Securities and Obligations |
112,163,080 |
103,870,917 |
| Other
Investments |
13,187,514 |
16,481,416 |
| Real
Estate Mortgage Loans |
545,940,363 |
536,963,814 |
| Consumer
and Other Loans |
57,211,050 |
58,632,321 |
| |
|
|
| Total
Loans |
603,151,413 |
595,596,135 |
| Less:
Allowance for Loan Losses |
(7,155,637) |
(6,970,837) |
| |
|
|
| Net
Loans |
595,995,776 |
588,625,299 |
| Bank
Building and Equipment |
19,687,761 |
19,485,870 |
| Other
Assets |
40,778,982 |
27,422,927 |
| |
|
|
| TOTAL
ASSETS |
$799,340,814 |
$771,496,533 |
|
|
|
| LIABILITIES |
|
|
|
|
|
| Demand
and NOW Deposits |
$147,081,203 |
$143,203,212 |
| Savings,
Time and Other Deposits |
379,717,633 |
374,791,065 |
| |
|
|
| TOTAL
DEPOSITS |
526,798,836 |
517,994,277 |
|
|
|
| Sweep
Accounts |
94,964,405 |
84,121,126 |
| FHLB Borrowings |
92,955,025 |
89,991,029 |
| |
|
|
| TOTAL
BORROWINGS |
187,919,429 |
174,112,155 |
|
|
|
| Other
Liabilities |
6,130,717 |
4,848,085 |
| |
|
|
| TOTAL
LIABILITIES |
720,848,981 |
696,954,517 |
|
|
|
| CAPITAL |
|
|
|
|
|
| Retained
Earnings/Surplus |
78,839,840 |
74,898,553 |
Unrealized
Gain/(Loss)
on Investments, Net |
(348,008) |
(356,537) |
| |
|
|
| TOTAL
CAPITAL |
78,491,832 |
74,542,016 |
TOTAL
LIABILITIES
AND CAPITAL FUNDS |
$799,340,814 |
$771,496,533 |
Mascoma
Mutua Financial Services Corp.
Consolidated Income Statement
| |
12 months ending
December 31, 2007 |
12 months ending
December 31, 2006 |
| |
|
|
| Interest
Income |
$42,755,610 |
$40,434,339 |
| Interest
Expense |
19,745,391 |
16,830,628 |
| |
|
|
| Net
Interest Income |
23,010,220 |
23,603,711 |
| Provision
for Loan Losses |
0 |
375,000 |
| |
|
|
| Net
Income After Provision for Loan Losses |
23,010,220 |
23,228,711 |
| Other
Income |
5,812,374 |
4,280,950 |
| Gains
/ (Losses) on Sales of Securities |
(2,499) |
4,538 |
| Other
Expenses |
23,657,485 |
22,247,759 |
| |
|
|
| Income
Before Income Taxes |
5,162,610 |
5,266,440 |
| Applicable
Income Taxes |
1,221,323 |
1,242,738 |
| |
|
|
| NET
INCOME |
$3,941,287 |
$4,023,702 |
| |
