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Financial Information
| Statements of Financial Conditions | ||
|---|---|---|
| Assets | December 31, 2010 | December 31, 2009 |
| Cash and amounts due from depository institutions | $770,906 | $916,228 |
| Interest-bearing deposits in other banks | $22,190,970 | $7,272,573 |
| Total cash and cash equivalents | $22,961,876 | $8,138,801 |
| Securities available for sale | $8,819,766 | $3,692,794 |
| Investment Securities, net | $16,558,618 | $27,477,238 |
| Mortgage-backed securities, net | $5,865,306 | $7,264,181 |
| Loans receivable, net | $62,659,373 | $63,342,132 |
| Real estate owned, net | $0 | $323,812 |
| Premises and equipment, net | $1,427,740 | $942,562 |
| Federal Home Loan Bank of New York stock | $169,400 | $176,900 |
| Other assets | $1,977,989 | $2,324,731 |
| Total Assets | $120,440,068 | $119,683,151 |
| Liabilities and Retained Earnings | December 31, 2010 | December 31, 2009 |
| Deposits | $102,046,499 | $101,575,901 |
| Borrowed Money | 0 | 0 |
| Other Liabilities | $1,059,633 | $1,264,892 |
| Total Liabilities | $103,106,132 | $102,840,793 |
| Retained earnings - substantially restricted | $17,091,677 | $16,821,678 |
| Accumulated Other Comprehensive Income | $242,259 | $20,680 |
| Total retained earning | $17,333,936 | $16,842,358 |
| Total Liabilities and Retained Earnings | $120,440,068 | $119,683,151 |
