CITBA Financial : Interim Financial Statement (unaudited) for Dec 2021

CITBA Financial Corporation

Consolidated Balance Sheets

(In thousands, except share and per share data)		December 31,			December 31,
		2021			2020
Assets		(unaudited)
Cash and due from banks	$	5,909	$	5,775
Interest-bearing demand deposits		161,861			87,240
Federal funds sold		-			-
Cash and cash equivalents		167,770			93,015
Investment securities
Available for sale		125,042			107,519
Held to maturity		-			-
Total investment securitites		125,042			107,519
Loans held for sale		825			8,019
Loans		333,057			371,772
Allowance for loan and lease losses		(4,364)			(4,709)
Net loans		328,693			367,064
Federal Home Loan Bank stock		1,643			1,643
Premises and equipment		10,326			9,095
Interest receivable		1,703			1,846
Other assets		1,038			776
Total assets
$	637,040	$	588,975
Liabilities and Stockholders' Equity
Liabilities
Deposits
Noninterest-bearing	$	160,448	$	127,621
Interest-bearing		412,319			395,376
Total deposits		572,767			522,997
Short-term borrowings		-			-
Interest payable		21			35
Other liabilities		2,243			3,295
Total liabilities
$	575,030	$	526,327
Stockholders' Equity
Perferred stock, non-voting $10 par value
Authorized and unissued - 35,000 shares	$	-	$	-
Common stock, $1 stated value; 10,000,000 shares
authorized; 1,794,104 and 1,853,954 shares
issued and outstanding, respectively		867			927
Additional paid-in capital		4,309			4,453
Retained earnings		49,006			46,361
Current income		4,511			5,298
Accumulated other comprehensive loss		3,316			5,610
Total stockholders' equity
$	62,010	$	62,649
Total liabilities and stockholders' equity
$	637,040	$	588,975

CITBA Financial Corporation

Consolidated Statements of Operations

(In thousands, except share and per share data)		Three Months Ended			Twelve Months Ended
		December 31,			December 31,			December 31,			December 31,
		2021			2020			2021			2020
Interest Income		(unaudited)			(unaudited)			(unaudited)
Loans receivable	$	3,528	$	4,021	$	14,410	$	15,928
Investment securities
Taxable		388			408			1,514			1,749
Tax-exempt		272			246			1,046			915
Other interest income		67			21			188			137
Dividends		6			12			21			62
Total interest income		4,261			4,709			17,179			18,792
Interest Expense
Deposits		219			363			1,005			1,582
Short-term borrowings		-			-			-			0
Total interest expense		219			363			1,005			1,582
Net Interest Income
	4,042			4,346			16,175			17,210
Provision for Loan Losses		(198)			(56)			(397)			225
Net Interest Income After Provision for Loan Losses		4,239			4,402			16,572			16,985
Other Income
Service charges on deposit accounts		204			185			708			744
Card services income		465			411			1,847			1,608
Other customer fees		21			(84)			523			358
Gain / (Loss) on loans sold		395			411			1,671			1,629
Gain / (Loss) on other assets		0			(17)			82			(35)
Other income		0			1			114			207
Total other income		1,085			907			4,944			4,511
Other Expense
Salaries and employee benefits		2,726			2,344			9,539			8,750
Premises and equipment expenses		492			371			1,728			1,513
Data processing fees		378			366			1,526			1,435
Deposit insurance premium		42			40			166			95
Printing and office supplies		26			39			114			133
Postage and courier services		46			47			186			202
Card services expense		142			95			436			324
Marketing		84			79			239			278
Loan Expense		103			36			182			220
Other expenses		356			296			1,788			1,832
Total other expense		4,397			3,712			15,905			14,782
Income/(Loss) Before Income Tax
	927			1,596			5,611			6,714
Income tax expense/(benefit)		149			327			1,100			1,416
Net Income/(Loss)	$	778		$	1,269		$	4,511		$	5,298
Net income per share - basic	$	0.43	$	0.68	$	2.47	$	2.86
Net income per share - diluted		0.43			0.68			2.47			2.86
Weighted average common shares outstanding - basic		1,803,749			1,853,954			1,824,753			1,853,954
Weighted average common shares outstanding - diluted		1,803,749			1,853,954			1,824,753			1,853,954