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Brunswick Bancorp : Reports Quarter Ending December 31, 2014 Earnings
January 29, 2015 at 03:26 pm
Brunswick Bancorp (OTCBB:BRBW):
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
BRUNSWICK BANCORP AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
DECEMBER 31, 2014 (UNAUDITED)
ASSETS
Cash and due from banks
$
60,295,757
Federal funds sold
-
Total cash and cash equivalents
60,295,757
Securities held to maturity
6,000,000
Securities available for sale
70,214
Loans receivable, net
96,912,298
Premises and equipment, net
988,043
Accrued interest receivable
238,073
Other real estate
8,302,206
Other assets
1,870,867
TOTAL ASSETS
$
174,677,458
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits
Non-interest bearing
$
34,065,953
Interest bearing
103,959,975
Total deposits
138,025,928
Accrued interest payable
108,235
Other liabilities
801,078
TOTAL LIABILITIES
138,935,241
STOCKHOLDERS' EQUITY
Preferred stock-no stated value
10,000,000 shares authorized and no shares
issued and outstanding at December 31, 2014.
Common stock - no par value
10,000,000 shares authorized;
3,119,551 shares issued and outstanding at
December 31, 2014.
6,239,102
Additional paid-in capital
1,944,611
Treasury stock at cost, 193,279 shares
at December 31, 2014.
(1,313,575
)
Retained earnings
29,237,704
Deferred stock compensation
(365,625
)
TOTAL STOCKHOLDERS' EQUITY
35,742,217
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$
174,677,458
BRUNSWICK BANCORP AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME (LOSS)
QUARTER END DECEMBER 31, 2014 (UNAUDITED)
INTEREST INCOME
Interest on loans
$
5,764,478
Interest on investments
20,586
Interest on balances with banks
135,946
TOTAL INTEREST INCOME
5,921,010
INTEREST EXPENSE
Interest on deposits
395,849
Interest on borrowed funds
-
Total interest expense
395,849
NET INTEREST INCOME
5,525,161
Provision for loan losses
-
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES
5,525,161
OTHER INCOME
Service fees
770,767
Other income
550,902
TOTAL OTHER INCOME
1,321,669
Realized loss on securities
-
OTHER EXPENSES
Salaries and employee benefits
2,806,429
Occupancy expenses
1,262,124
Equipment expenses
57,323
Other expenses
2,309,430
TOTAL OTHER EXPENSES
6,435,306
INCOME (LOSS) BEFORE INCOME TAX EXPENSE
411,524
Income tax expense (credit)
34,000
NET INCOME
$
377,524
NET INCOME PER SHARE OF COMMON STOCK:
Basic Earnings per share
$
0.13
Average shares outstanding-basic
2,921,751
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Brunswick Bancorp Reports Earnings Results for the Third Quarter Ended September 30, 2019
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Brunswick Bancorp Reports Earnings Results for the Second Quarter Ended June 30, 2019
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Brunswick Bancorp Reports Earnings Results for the First Quarter Ended March 31, 2019
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Brunswick Bancorp Reports Earnings Results for the Full Year Ended December 31, 2018
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Duration Auto. 2 months 3 months 6 months 9 months 1 year 2 years 5 years 10 years Max.
Period Day Week
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Brunswick Bancorp is a bank holding company. Its principal activity is the ownership and management of its subsidiary, Brunswick Bank and Trust (the Bank). The Bank also has a subsidiary, BTB Investment Corp, Inc., which manages the Bank's investment portfolio. The Bank generates commercial, mortgage, and consumer loans, and receives deposits from customers located primarily in central New Jersey, with a primary emphasis on the Middlesex and Monmouth Counties. Its services are provided at six locations. It provides a range of commercial services, such as business checking, money markets, business savings, commercial mortgages, small business loans, commercial construction loans, merchant services and other business services. It offers a range of consumer services, such as direct deposit of payroll, electronic banking services, checking accounts, savings accounts, safe deposit box, combined statements, domestic wires, notary services and home equity lines of credit.
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