AMB Financial : 03-31-2022 Quarterly Report

AMB Financial Corp.

7880 Wicker Ave. St. John, Indiana 46373

Financial Report

For the Three Months Ended

March 31, 2022

Note: This report is intended to be read in conjunction with our Annual Report to Stockholders for the year ended December 31, 2021, copies of which are included on this website. This report is dated March 31, 2022 and should not be read to cover any subsequent periods. We specifically disclaim any obligation to update this report even if the contents thereof should become misleading.

This report has not been prepared in accordance with Securities and Exchange Commission rules applicable to public companies and is not intended to comply with such rules.

AMB FINANCIAL CORP. TABLE OF CONTENTS

Consolidated Statements of Financial Condition at

Page

March 31, 2022 (unaudited) and December 31, 2021 2

Consolidated Statements of Income for the three

months ended March 31, 2022 and 2021 (unaudited) 3

Consolidated Statements of Comprehensive Income for the

three months ended March 31, 2022 and 2021 (unaudited) 4

Consolidated Statements of Changes in Stockholders'

Equity for the three months ended March 31, 2022 and 2021 (unaudited) 5

Consolidated Statements of Cash Flows for the three months

ended March 31, 2022 and 2021 (unaudited) 6

Earnings per Share Analysis for the three

months ended March 31, 2022 and 2021 (unaudited) 7

Notes to Unaudited Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial

Condition and Results of Operations

8 - 24

AMB Financial Corp. and Subsidiaries

Consolidated Balance Sheets

Assets

Cash and amounts due from depository institutions Interest-bearing deposits

Total cash and cash equivalents

Investment Securities, available for sale, at fair value Stock in Federal Home Loan Bank of Indianapolis, at cost Loans held for sale

Loans receivable (net of allowance for loan losses)

$2,587,084 at December 31, 2022 and $2,570,000 at December 31, 2021)

Other real estate owned

Accrued interest receivable

Office properties and equipment- net Bank owned life insurance

Prepaid expenses and other assets

Total assets

Liabilities and Stockholders' Equity

Liabilities

Deposits Borrowed money

Junior subordinated debentures Other liabilities

Total liabilities

Stockholders' Equity

Common Stock, $.01 par value; authorized 1,900,000 shares; 1,683,641 shares issued and 923,053 outstanding at March 31, 2022 and 923,053 outstanding at December 31, 2021

Additional paid-in capital

Retained earnings

Accumulated other comprehensive income (loss), net of tax

Treasury stock, at cost (760,588 shares outstanding at March 31, 2022 and 760,588 shares outstanding at December 31, 2021)

Total stockholders' equity

March 31,
2022
(unaudited)
$	3,369,437	2,341,844
65,395,274	43,416,522
68,764,711	45,758,366
10,730,359	10,377,656
2,683,000	2,693,400
505,000	656,901
212,057,535	212,516,901
-	18,050
722,121	749,497
9,316,881	9,399,541
3,764,478	3,746,441
2,074,200	2,038,545

December 31, 2021 (audited)

$ 310,618,285	$ 287,955,298
$ 274,530,818	$ 251,519,105
5,000,000	5,000,000
3,093,000	3,093,000
2,418,500	2,925,028
$ 285,042,318	$ 262,537,133

$

$

16,837	16,837
11,783,813	11,753,929
23,130,288	22,595,100
(391,286)	15,984
(8,963,685)	(8,963,685)

$ 25,575,967

$

$ 25,418,165

Total liabilities and stockholders' equity

See accompanying notes to audited consolidated financial statements.

$ 310,618,285

$ 287,955,298

AMB Financial Corp. and Subsidiaries Consolidated Statements of Income

(unaudited)

Interest income

Interest on Loans

Interest on other investment securities Interest on interest-bearing deposits Dividends on Federal Home Loan Bank stock

Total interest income

Interest expense

Interest on deposits Interest on borrowings

Total interest expense

Net interest income Provision for loan losses

Net interest income after provision for loan lossesNon-interest income:

Loan fees and service charges Deposit related fees

Other fee income Rental Income

Gain on sale of loans

Net (loss) gain on sale of other real estate owned Increase in cash surrender value of life insurance Other income

Total non-interest income

Non-interest expense:

Staffing costs Advertising

Occupancy and equipment expense Data processing

Professional fees

Federal deposit insurance premiums Insurance expense

Other operating expenses

Total non-interest expense

Income before income taxes Income tax expense

Net income available to common shareholdersEarnings per common share:

Threee Months	Threee Months
Ended	Ended
March 31,	March 31,
2022	2021

2,400,570 $ 2,371,668

40,711 25,594

25,172 10,288

20,369 8,795

$

$

$ $

$

$

$

$

$ $

Basic

Diluted

$ $

See accompanying notes to audited consolidated financial statements.

2,486,822

$

2,416,345

201,365 $ 318,744

50,931 66,576

252,296

$ $

385,320

2,234,526 -2,031,025 -2,234,526

$

2,031,025

144,662 $ 62,716

78,579 72,243

6,308 21,378

103,715 91,232

73,229 845,127

(3,341) 9,505

18,037 17,565

13,916 21,435

435,105

$

1,141,201

1,133,135 43,933

$

1,104,986 40,968

249,663 237,862

256,415 215,568

35,923 83,943

36,893 27,859

25,094 21,460

181,648 231,475

1,962,704

$

• 706,927 $ 171,739 535,188

1,964,121

1,208,105 304,264 903,841

0.58 $ 0.93

0.58 $ 0.93

AMB Financial Corp. and Subsidiaries Consolidated Statements of Comprehensive Income

(unaudited)

Three Months Ended March 31,2022

2021

Net income

Other comprehensive (loss) income, net of tax: Unrealized gains on securities available for sale--

Unrealized holding (loss) gain arising during the period

$

535,188

$

903,841

(407,270) (25,873)Other comprehensive (loss) income, net of tax

(407,270) (25,873)Total comprehensive income

$

127,918

See accompanying notes to audited consolidated financial statements.

$

877,968