Touchmark Bancshares : 2022 Q3 Financial Summary

TOUCHMARK BANCSHARES, INC.

AND SUBSIDIARY

Consolidated Balance Sheets

September 30, 2022 and December 31, 2021

(Unaudited)

ASSETS		2022			2021
Cash and due from banks	$	1,353,606	$	1,212,563
Federal funds sold		5,175,000			5,175,000
Interest-bearing deposits with other banks		19,133,417			103,994,062
Investment securities		15,817,854			12,968,752
Restricted stock		1,495,050			1,498,450
Loans, net		269,763,196			290,694,664
Premises and equipment, net		1,465,203			1,309,269
Other assets		5,300,447			4,876,680
Total assets	$	319,503,773		$	421,729,440
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Non-interest bearing demand	$	23,060,017	$	30,642,803
Interest bearing		221,224,195			324,339,564
Total deposits		244,284,212			354,982,367
Federal Reserve Bank advances		7,500,000			-
Other liabilities		1,772,569			3,568,908
Total liabilities		253,556,781			358,551,275
Shareholders' Equity:
Preferred stock, no par value, 10,000,000 shares
authorized, none issued		-			-
Common stock, $.01 par value, 4,475,891 shares issued		44,759			44,759
Additional paid-in capital		46,880,651			46,880,651
Retained earnings		20,096,606			16,171,492
Accumulated other comprehensive income (loss)		(1,075,024)			81,263
Total shareholders' equity		65,946,992			63,178,165
Total liabilities and shareholders' equity	$	319,503,773	$	421,729,440

TOUCHMARK BANCSHARES, INC.

AND SUBSIDIARY

Condensed Consolidated Statements of Income

For the Nine Months Ended September 30, 2022 and 2021

(Unaudited)

		2022			2021
Net interest income	$	9,397,281	$	10,509,294
Provision for loan losses		466,758			250,000
Net interest income after provision for loan losses		8,930,523			10,259,294
Total noninterest income		1,394,318			3,267,635
Total noninterest expense		5,148,724			5,502,765
Net income before taxes		5,176,117			8,024,164
Income tax expense		1,251,000			1,904,000
Net income	$	3,925,117		$	6,120,164
Key Ratios
Basic Earnings Per Share	$	0.88	$	1.37
Book Value Per Share		14.73			14.15
Return on Average Assets		1.41%			1.91%
Return on Average Equity		8.11%			13.53%
Efficiency Ratio		47.71%			39.94%