Farmers State Bank
     Neighborly Service Since 1902
100 W. Main St.
Mountain City, TN  37683
(423) 727-8121

FDIC Insured        Equal Housing Lender
 

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Report of Condition

This is a comparative Report of Condition at the close of business on the last day of the two previous years.


BALANCE SHEET
 

       December 31st

ASSETS (Dollar Amounts in Thousands)
  2014
2013
Cash and due from banks $4,425   $2,684
Federal funds sold 2,741   1,210
   Total cash and cash equivalents 7,165   3,894
       
 Securities available for sale, at fair value 30,512   34,376
Securities held to maturity, fair value $6,840,513 in 2013      
   and $8,255,005 in 2012 5,186   6,424
Loans 79,570   77,237
   Allowance for loan losses (1,072)   (1,442)
      Net loans 78,497   75,795
       
Other real estate owned 1,854   1,927
Bank owned life insurance 3,917   3,823
Premises and equipment 3,101   3,066
Accrued interest receivable   489   574
Federal Home Loan Bank stock, restricted   702   702
Other assets   2,267   2,458
    $133,691 $133,040

LIABILITIES AND SHAREHOLDERS' EQUITY
 
Deposits:
     
   Noninterest-bearing 17,548   16,514
   Interest-bearing 93,460   95,790
      Total deposits   111,008   112,303
         
Federal Home Loan Bank advances   0   0
Accrued interest payable   53   61
Accrued pension liability   1,275   1,252
Other liabilities   645   116
      Total liabilities   112,981   113,734
 
Shareholders' equity
       
   Common stock, $4 par value; 2,000,000 shares        
   authorized; issued 52,750 shares in 2013 and 2012   211   211
Additional paid-in capital   445   445
Retained earnings   20,124   19,328
Accumulated other comprehensive income (loss)   (70)   (677)
   Total shareholders' equity 20,710   19,306
 
      Total liabilities and shareholders' equity
$133,691 $133,040

 

   
 


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